30 November 2009 News

 

Deutsche Börse becomes majority shareholder in Tradegate Exchange

Deutsche Börse is to acquire a 75 per cent holding plus one share in Tradegate Exchange in Berlin, with effect from 8 January 2010. Tradegate Exchange operates the multi-lateral trading facility Tradegate, which has been running successfully since 2001.

At the beginning of 2010 it will commence operation as a stock exchange; the former MTF Tradegate will receive the status of "Regulated market within the meaning of MiFID", becoming Tradegate Exchange.

Deutsche Börse AG will also acquire a 5 per cent share in Tradegate AG Wertpapierhandelsbank, one of the market makers in Tradegate /the future Tradegate Exchange. Deutsche Börse will also have the option of gradually increasing its share in Tradegate AG to a maximum of 20 per cent.

Deutsche Börse is investing an amount in the single-figure million euro range for its share in Tradegate Exchange GmbH and the initial 5 per cent holding in Tradegate AG.

"The transition of the successful MTF Tradegate into a regulated trading venue as Tradegate Exchange is an opportunity for Deutsche Börse to employ its core competency and to operate an additional stock exchange in Germany. Our common objective is to expand retail business across Europe," said Frank Gerstenschläger, member of the Executive Board of Deutsche Börse and responsible for the Xetra business area.