Financial services company of Germany
50°06′54″N
8°40′41″E
/
50.115°N 8.678°E
/
50.115; 8.678
Deutsche Borse
AG
|
|
Company type
| Public
(
Aktiengesellschaft
)
|
---|
| |
---|
Industry
| Finance
|
---|
Founded
| 1992
; 32 years ago
(
1992
)
[1]
|
---|
Headquarters
| Frankfurt am Main
,
Germany
|
---|
Key people
| |
---|
Services
| Equity trading
platforms,
derivatives
markets
,
clearing
,
market data
|
---|
Revenue
| €
4.34 billion
(2022)
[2]
|
---|
| €2.17 billion (2022)
[2]
|
---|
| €1.49 billion (2022)
[2]
|
---|
Total assets
| €269.1 billion (2022)
[2]
|
---|
Total equity
| €9.06 billion (2022)
[2]
|
---|
Number of employees
| 11,078 (
FTE
, end 2022)
[2]
|
---|
Subsidiaries
| 360T
,
Frankfurt Stock Exchange
,
Clearstream
,
Xetra
,
Eurex
,
STOXX
,
Qontigo
|
---|
Website
| deutsche-boerse.com
|
---|
Deutsche Borse AG
(
German pronunciation:
[?d??t??
?bœ?z?]
), or the
Deutsche Borse Group
, is a German
multinational corporation
that offers a marketplace for organizing the trading of
shares
and other
securities
. It is also a
transaction services
provider, giving companies and
investors
access to global
capital markets
. It is a
joint stock company
and was founded in 1992, with headquarters in
Frankfurt
. On 1 October 2014, Deutsche Borse AG became the 14th announced member of the
United Nations Sustainable Stock Exchanges initiative
.
[3]
On 23 August 2023, the company formed
EuroCTP
as a joint venture with 13 other bourses, in an effort to provide a
consolidated tape
for the
European Union
, as part of the
Capital Markets Union
proposed by the
European Commission
.
Company
[
edit
]
More than 3,200 employees service customers in
Europe
, the
United States
, and
Asia
. Deutsche Borse has locations in
Germany
,
Luxembourg
,
Switzerland
,
Czech Republic
, and
Spain
, as well as representative offices in
Beijing
,
London
,
Paris
,
Chicago
,
New York
,
Hong Kong
, and
Dubai
.
FWB Frankfurter Wertpapierborse (
Frankfurt Stock Exchange
), is one of the world's largest trading centers for securities. With a share in turnover of around 90%, it is the largest of the German
stock exchanges
. Deutsche Borse AG operates the Frankfurt Stock Exchange.
[4]
Deutsche Borse is the owner of
Clearstream
, a
clearing house
based in Luxembourg.
[5]
Despite the COVID-19 pandemic, Deutsche Borse was able to increase its turnover by 15% and its net revenue by 9% in 2020 compared to 2019. In addition, Deutsche Borse's workforce grew by 463 employees in 2020.
[6]
Mergers and acquisitions
[
edit
]
On 3 May 2000, it was announced that the
London Stock Exchange
would merge with Deutsche Borse, though the deal fell through before the merger could be realized.
[7]
In 2001, Deutsche Borse tried again to merge with the London Stock Exchange, followed by a
takeover
bid in late 2004, but both offers rejected by the LSE.
[8]
After CEO
Werner Seifert
was forced to resign by the main shareholders in 2005, Deutsche Borse changed plans and entered into advanced negotiations for a merger with
Euronext
which would have brought two of the biggest stock exchanges in
Europe
into one holding. The
New York Stock Exchange
beat out Deutsche Borse's final bid for Euronext in 2006.
Since 2007, Deutsche Borse operates the joint venture
Scoach
with
SIX Swiss Exchange
to provide a European
derivative
trading platform.
[9]
In July 2015, Deutsche Borse bought the
360T
company for €725 million
[10]
and also acquired all shares (100%) of the joint venture STOXX AG for a purchase price of CHF 650 million from the SIX Group.
[11]
On September 16, 2019, Deutsche Borse has announced its acquisition of Axioma Inc. which was combined with
STOXX
and
DAX
to form
Qontigo
.
[12]
As part of the transaction, Deutsche Borse has entered into a strategic partnership with
General Atlantic
, a global equity firm.
[13]
In March 2022, Deutsche Borse announced the acquisition of 100% of
Luxembourg
-based fund data manager Kneip.
[14]
In April 2023, Deutsche Borse agreed to buy Danish investment management software firm
SimCorp
for
€
3.9 billion
.
[15]
In August 2023, Deutsche Borse announced the acquisition of the
Luxembourg
-based
distributed ledger technology
company, FundsDLT.
[16]
Attempted NYSE Euronext merger
[
edit
]
On 7 December 2008, Deutsche Borse rebuffed rumors that it might join with
NYSE Euronext
(the company formed as a result of the merger of NYSE and Euronext) to create the world's leading stock exchange.
[17]
While the company claims that it pursued the matter, on 8 December 2008, it reported that talks which began on 25 November 2008, were closed without any result due to differences in valuation of the company.
[18]
Deutsche Borse had also considered the acquisition again in 2009.
On 9 February 2011, reports suggested that NYSE Euronext and Deutsche Borse were in advanced talks about an all-stock merger.
[19]
Deutsche Borse was in advanced talks to buy NYSE Euronext in a deal that would create the world's largest trading powerhouse. The shares of both companies were temporarily frozen on the news due to the risk of large price movements and clarifications of the deal. A successful deal would see the new company becoming the world's largest stock exchange operator with a market capitalisation of listed companies equal to US$15 trillion, US$13.39 trillion of which is part of the much larger NYSE Euronext, which is approximately six times the size of Deutsche Borse.
President and deputy CEO of NYSE Euronext
Dominique Cerutti
would become the new company's president and head of commercial and internal technology. Roland Bellegarde, also of NYSE Euronext, would become the head of European cash equities. The new company would potentially have €300 million (US$410 million) in cost savings. However, the merger would be subject to review in both the United States and European Union under concerns it could create a "de facto monopoly".
[20]
NYSE Euronext shareholders approved the Deutsche Borse's all-stock deal on 7 July 2011,
[21]
and Deutsche Borse shareholders had accepted the deal by 15 July 2011.
[22]
On 22 December 2011, Deutsche Boerse won U.S. antitrust approval to buy NYSE Euronext, on the condition that a Deutsche Borse
subsidiary
, the
International Securities Exchange
, divest its 31.5% interest in
Direct Edge
.
[23]
NYSE Euronext and Deutsche Boerse AG delayed the deadline for completing their merger until 31 March 2012, as the exchange operators try to persuade European regulators to approve the deal.
[24]
The
European Commission
blocked the merger on 1 February 2012, citing the fact that the merged company would have a near monopoly.
[25]
This measure taken by the EC is the fourth blocking in over a decade.
[26]
The commission rejected the merger on antitrust grounds, saying the combined businesses would dominate Europe's on-exchange derivatives trading with an estimated 93% market share. "This is a black day for Europe and its global competitiveness on financial markets", said former Deutsche Borse chief executive Reto Francioni. NYSE Euronext chairman Jan-Michiel Hessels said: "While we are disappointed and strongly disagree with the EU decision, which is based on a fundamentally different understanding of the derivatives market, it is now time to move on".
[27]
Failed merger with London Stock Exchange Group
[
edit
]
In March 2016, the company announced it had reached an agreement with
London Stock Exchange Group
to merge.
[28]
The companies were to be brought under a new holding company, with a temporary placeholder name of UK TopCo, and would have retained both headquarters in London and Frankfurt. The deal needed approval from regulators in the
European Union
, the U.S. and Russia. The London Stock Exchange said Russian approval was needed because it owns Exactpro, a firm with offices in Russia specializing in quality assurance for exchanges and financial organizations.
[29]
The European Commission opened an in-depth investigation into the proposed Deutsche Borse/LSEG merger on 28 September 2016.
[30]
The European Commission delayed its decision on the deal by 15 working days to 6 March 2017. LSEG planned to hive off the French half of its
LCH SA
arm in a bid to ease EU concerns about the deal, although the companies had not formally submitted any concessions to the commission.
[31]
In February 2017, the Commission required that the parties commit to the divestment of LSEG's majority stake in fixed-income sovereign bond trading platform MTS S.p.A. LSEG stated it would not sell MTS in
Italy
to appease anti-trust concerns.
[32]
The planned merger between the two exchanges, which was estimated to create the largest exchange in Europe, was subsequently described as "at risk" by
The Wall Street Journal
.
[33]
The merger attempt was blocked by EU Competition Regulator on 29 March 2017 stating that "The Commission's investigation concluded the merger would have created a de facto monopoly in the markets for clearing fixed income instruments".
[34]
Recent
[
edit
]
In October 2017, several shareholders called for the resignation of the chairman.
[35]
On 16 November 2017, Theodor Weimer was appointed as new CEO of Deutsche Borse AG,
[36]
effective January 2018.
Art collection
[
edit
]
Deutsche Borse Group is a major sponsor of contemporary photography. In 1999, the Group established the Art Collection Deutsche Borse, which today comprises more than 900 mostly large size works from around 90 international artists. In 2005, the stock exchange became the sponsor of the annually awarded
Deutsche Borse Photography Prize
of the
Photographers' Gallery
in London, which was started up in 1996 by the gallery, to promote the best work by contemporary photographers.
Charity involvement
[
edit
]
Deutsche Borse Group have participated in and sponsored many events, including Futures For Kids Annual Football Tournament (held in the
London Docklands
, England). The event raised £2.6 million for charity and included firms such as
Marex Spectron
, Trading Technologies, Futex,
Oak Futures
and the
London Metal Exchange
.
References
[
edit
]
- ^
"Deutsche Borse Group - Company history"
.
Archived
from the original on 6 August 2013
. Retrieved
14 December
2012
.
- ^
a
b
c
d
e
f
"Deutsche Borse Group - Annual report 2022"
(PDF)
. Deutsche Borse.
Archived
(PDF)
from the original on 12 June 2023
. Retrieved
26 August
2023
.
- ^
"Deutsche Borse joins UN's Sustainable Stock Exchanges Initiative"
.
FTSE
. Deutsche Borse. Archived from
the original
on 4 October 2014
. Retrieved
2 October
2014
.
- ^
"Quick Summary | Frankfurt Stock Exchange | Cross-Border Listings Guide | Baker McKenzie Resource Hub"
.
resourcehub.bakermckenzie.com
. Retrieved
19 January
2023
.
- ^
"EU blocks LSE-Deutsche Boerse merger amid Brexit jitters"
.
Luxembourg Times
. 11 December 2017
. Retrieved
19 January
2023
.
- ^
"Geschaftsbericht 2020. (PDF) Deutsche Borse"
(PDF)
.
- ^
"2000: Leading stock exchanges plan merger"
. 3 May 2000.
Archived
from the original on 7 March 2008
. Retrieved
21 June
2017
.
- ^
"London Stock Exchange's tumultuous history of bids"
.
The Daily Telegraph
. 2 September 2011.
Archived
from the original on 7 September 2013
. Retrieved
8 October
2013
.
- ^
"In respect of the description of Eurex Group, a derivatives exchange business jointly owned by Deutsche Borse and SIX Swiss Exchange AG, contained in the Offer Document, the following is published"
.
www.businesswire.com
. 16 June 2011
. Retrieved
19 January
2023
.
- ^
Alexander Husing (27 July 2015).
"Deutsche Borse schluckt Devisenplattform 360T"
.
German Startups Group
(in German).
Archived
from the original on 1 December 2017
. Retrieved
20 November
2017
.
- ^
"Gruppe Deutsche Borse - Erfolgreicher Abschluss der Verhandlungen zum vollstandigen Erwerb der STOXX AG und Indexium AG von der SIX Group"
.
deutsche-boerse.com
(in German). Archived from
the original
on 1 December 2017
. Retrieved
20 November
2017
.
- ^
"Deutsche Boerse launches financial intelligence company following Axioma acquisition"
.
ETF Stream
. 15 July 2020.
Archived
from the original on 16 July 2021
. Retrieved
16 July
2021
.
- ^
Team, Finadium Editorial (18 September 2019).
"Deutsche Borse launches Qontigo, a combo of Axioma, STOXX and DAX ? Finadium"
.
Archived
from the original on 7 June 2021
. Retrieved
16 July
2021
.
- ^
"Deutsche Borse to acquire fund data manager Kneip"
.
Finextra Research
. 28 March 2022.
Archived
from the original on 28 March 2022
. Retrieved
28 March
2022
.
- ^
Farr, Emma-Victoria; Masoni, Danilo (27 April 2023).
"Deutsche Boerse offers $4.3 billion for Denmark's SimCorp"
.
Reuters
.
- ^
"Deutsche Borse Group to acquire FundsDLT"
.
Finextra Research
. 3 August 2023
. Retrieved
3 August
2023
.
- ^
https://news.yahoo.com/s/ap/20081207/ap_on_bi_ge/eu_germany_deutsche_boerse_nyse;_ylt=AsauGZb2LtlsfwROcCUexTmyBhIF
[
dead link
]
- ^
Simon Kennedy.
"Discussions ended without agreement"
. Retrieved
9 December
2008
.
- ^
Bunge, Jacob (10 February 2011).
"NYSE, Deutsche Borse Talk Tie-Up as Competition Intensifies"
.
The Wall Street Journal
.
Archived
from the original on 19 February 2017
. Retrieved
3 August
2017
.
- ^
Kirchfeld, Aaron; Sukumar, Nandini; Kearns, Jeff (9 February 2011).
"Deutsche Boerse in Advanced Talks to Buy NYSE Euronext"
.
Bloomberg
.
Archived
from the original on 4 March 2014
. Retrieved
6 March
2017
.
- ^
"NYSE-Deutsche Borse deal clears U.S. hurdle"
.
Financial Times
. Archived from
the original
on 10 July 2011
. Retrieved
24 July
2011
.
- ^
Bunge, Jacob (15 July 2011).
"Deutsche Borse Wins 82% Backing for NYSE Deal"
.
The Wall Street Journal
.
Archived
from the original on 24 March 2021
. Retrieved
24 July
2011
.
- ^
Bartz, Diane (22 December 2011).
"Deutsche Boerse, NYSE deal wins U.S. approval"
.
Reuters
.
Archived
from the original on 22 June 2021
. Retrieved
5 July
2021
.
- ^
NYSE, Deutsche Boerse Merger Date Extended
Archived
3 November 2013 at the
Wayback Machine
,
Bloomberg
, 28 December 2011. Retrieved 9 January 2012.
- ^
"Mergers: Commission blocks proposed merger between Deutsche Borse and NYSE Euronext"
Archived
4 February 2012 at the
Wayback Machine
, European Commission press release, 1 February 2012.
- ^
Mergers
Archived
5 March 2012 at the
Wayback Machine
- ^
"NYSE Euronext merger with Deutsche Boerse blocked by EU"
Archived
11 January 2023 at the
Wayback Machine
, BBC, 1 February 2012.
- ^
John Detrixhe (16 March 2016).
"London Stock Exchange, Deutsche Boerse Agree on Merger"
.
Bloomberg.com
.
Archived
from the original on 15 February 2020
. Retrieved
1 November
2016
.
- ^
"European stock exchanges agree to $30 billion merger"
.
Daily Herald
. Associated Press. 16 March 2016.
Archived
from the original on 11 January 2023
. Retrieved
1 November
2016
.
- ^
"European Commission - Press release - Mergers: Commission opens in-depth investigation into proposed Deutsche Borse/LSE merger"
.
europa.eu
.
Archived
from the original on 4 November 2016
. Retrieved
1 November
2016
.
- ^
"EU extends LSE-Deutsche Boerse merger review until March 6"
.
Reuters
. 21 October 2016.
Archived
from the original on 3 November 2016
. Retrieved
1 November
2016
.
- ^
"Deutsche Boerse-LSE Deal in Danger as EU Demand Rejected"
.
Bloomberg.com
. 26 February 2017.
Archived
from the original on 5 March 2017
. Retrieved
4 March
2017
.
- ^
Dummett, Ben (27 February 2017).
"London Stock Exchange Merger With Deutsche Borse at Risk Over Antitrust Issues"
.
The Wall Street Journal
.
New York City
.
Archived
from the original on 27 February 2017
. Retrieved
27 February
2017
.
- ^
"European Commission - Press release - Mergers: Commission blocks proposed merger between Deutsche Borse and London Stock Exchange"
.
europa.eu
.
Archived
from the original on 29 March 2017
. Retrieved
21 July
2017
.
- ^
Storbeck, Olaf; Stafford, Philip (29 October 2017).
"Two shareholders call for resignation of Deutsche Borse chairman"
.
Financial Times
. London.
Archived
from the original on 11 December 2022
. Retrieved
29 October
2017
.
- ^
"Theodor Weimer appointed as new CEO of Deutsche Borse AG"
.
Deutsche Borse Press releases
. Archived from
the original
on 11 February 2019
. Retrieved
20 November
2017
.
External links
[
edit
]
|
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Last updated: 18 September 2023
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Members
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Associates
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Affiliates
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Correspondents
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International
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National
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Other
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