CEo Theodor Weimer

Theodor Weimer: Why we are championing Frankfurt

Deutsche Börse is championing Frankfurt – and this supports the city as a financial centre. And it also helps Deutsche Börse. Because these initiatives enable us to also strengthen ourselves as a listed company on the global competitive stage. However, this works the other way around too. Frankfurt as a financial centre relies on Deutsche Börse’s strength to enable it to seize the opportunities currently available on the European financial market.

One example is euro clearing. With the forthcoming Brexit, the most important and, in terms of volume, predominant clearing house for interest rate swaps to-date would lie outside the EU. However, the EU will need to be strong enough to keep the systems so vital to its provision of financial instruments under its own jurisdiction without the British and without London.

Sounds complicated? Let me put it more simply: having just a single central clearing house for euro interest rate swaps is neither good nor is it in line with market requirements. Having a single such central clearing house – that is outside the EU, is just not on. Deutsche Börse has been very successful thus far with its offering to clearing customers. Customers see this matter the same way that we as the central financial service provider see it. We are ready, and in my opinion, the euro products clearing business should come to Frankfurt. Both the city and Deutsche Börse stand to profit. We should regard the decision to relocate the European Banking Authority (EBA) to Paris as a warning sign. We must all make an effort now; and I am sure that we will make an effort.

Our offer for the euro clearing operations, which nearly all major banks and financial service providers have meanwhile subscribed to, benefits us and simultaneously strengthens Frankfurt as a financial centre. By establishing a competitive, extremely efficient second trading point, we are promoting both the transparency and the robustness of the international financial markets. The volumes concerned are vast; our partnership programme achieved an average daily volume of €35 billion in the off-exchange interest rate segment in January 2018. Strengthening Frankfurt strengthens efficient and secure markets – and this is Deutsche Börse’s aim.

Frankfurt needs Deutsche Börse as a strong partner in order to be able to seize opportunities. A second example: regulation. We have positioned ourselves much more broadly here too and developed offers that efficiently implement regulation.

Regulation is, in a sense, a double-edged sword, as it is designed to create security without stifling motivation or creativity. I personally believe that regulation in the last ten years since the financial crisis has done a great deal to make our markets more secure and our banks more robust. I say this as CEO of Deutsche Börse, but also as someone who still remembers very well some nine years I spent as head of a major bank. I know banks, and I know the stock exchange – better and better. While regulation and its unintended consequences should be subject to regular review, regulation itself is a success.

It is important to me to expressly state that. This is the viewpoint that we, as Deutsche Börse, submit to the debate. At the same time, we offer solutions that facilitate implementation of regulations for our customers and that help to accurately process reporting requirements. This position means we enjoy technological leadership and set the pace for the entire sector as well. This competitive advantage will enable us to hold our own at the top with new initiatives.

Frankfurt is, therefore, a regulatory centre; important institutions are based here – first and foremost, the European Central Bank and the Deutsche Bundesbank, with a BaFin representative office as well. Then we have the most important and largest German banks, and what I consider a definite advantage to Frankfurt – many international banks. And not forgetting us – Deutsche Börse. We are reinforcing our company with offerings that turn the tomes of rules and accompanying manuals into efficiently functioning systems. There is also a need for this. Three very important regulations have gone into effect this year: MiFID II, the Benchmarks Regulation, and the European Central Securities Depositories Regulation (CSDR). The MiFID II text alone numbers 25,000 pages.

Frankfurt needs Deutsche Börse in order to be able to seize opportunities. Example number three: IPOs. In this regard, we face a good, possibly an excellent year. This is good for the real economy, good for Frankfurt as a financial centre, and good for Deutsche Börse.

We want this trend to continue and we are doing what we can to also make Frankfurt an attractive location for IPOs. Our various initiatives that support companies long before their IPOs are part of that. With our offering of location, funding, and business environment, we address the start-ups and creative individuals that we so urgently need in Germany. Frankfurt has caught up considerably here but we need to become better still. Our Scale segment and the Venture Network will help Frankfurt to become considerably more visible across Europe in this regard.

We are now investing a lot of money in a major renovation of the stock exchange building in Frankfurt city centre – with a focus on three aspects of improvement.

Firstly, a visitor’s centre, intended to bring especially young people closer to stock exchange activity and financial market functions. It is particularly important to me that the next generation knows and understands what our sector is all about. The stock exchange up close. This knowledge, referred to as “financial literacy”, makes many things a lot easier – from personal retirement savings to a broad public discussion about economic relationships. I believe that this century will be marked by these issues.

Centre for IPOs

Secondly, we are building a conference centre that we will also offer for use to others. The stock exchange is an ideal forum for debates and disputes. The architecture of our stock exchange building in Frankfurt actually invokes the agora of ancient Greece, the marketplace. A conference centre in a stock exchange is therefore not a strange thing that we made up. It belongs there.

Thirdly, we are constructing a new centre for IPOs. We can and want to do more for our customers in this regard and we are, of course, doing it wherever possible starting now. As part of the expansion, we are creating an appropriate physical space as well. IPOs serve first and foremost to raise capital. But they also always have a communicative function. They attract more attention – and that applies especially to SMEs. Attention to the right message — that applies to all companies, even large ones. This is because an IPO is pretty much a one-time chance for companies to make themselves known to a broader public. They will be even more successful if they use our new IPO centre – at least that is our plan. We want “Listed in Frankfurt” to become a seal of quality.

The renovation of the stock exchange – in the building owned by the Chamber of Commerce and Industry, with whom we have a long-term lease – strengthens Frankfurt as a financial centre and thus also Germany as a business location. Our sector needs Deutsche Börse to be strong, to be able to make good offers for raising capital. And one that promotes a vibrant system of young and small companies that (hopefully) demonstrate how we want to achieve prosperity in 20 or 30 years.

So, why is Deutsche Börse strengthening Frankfurt as a financial location? Because we need a strong European financial centre that can efficiently perform vital functions for our sector, such as euro clearing. Because Frankfurt is the centre of clever regulation with a sense of proportion, and because regulators and our customers have an interest in market-oriented implementation of those rules. And because Frankfurt is Germany’s most important stock exchange location and therefore the leading stock exchange of the largest European economy.

After Brexit, Frankfurt will become more important in all these aspects. Let’s all work together so that Frankfurt can utilise its strengths.

By Theodor Weimer. The article was first published in the Börsen-Zeitung, “Finanzplatz Frankfurt” supplement

Financial Centre Frankfurt

Consistent interest in Financial Centre Germany from Brexit banks

  • Germany is an attractive location for the international financial industry
  • The new federal government can, however, increase its attractiveness even further
  • Internationally agreed and harmonised regulatory frameworks guarantee international financial stability

“We see an unbroken interest in the German financial centre among banks that are considering relocations due to Brexit. Supervisors and politics have already done a lot over the past 18 months and are well positioned, but we must continue to work,” says Stefan Winter, Chairman of the Board of the Association of Foreign Banks in Germany (VAB) at today’s press conference. Among other things, there is a need for action to limit severance payments to high earners in the banking sector and to internationalise the law. For example, German law is often not agreed upon internationally in framework agreements, because German courts also examine these in commercial transactions as well as all general terms and conditions for consumers. “As a result of the Brexit, we expect about 20 banks to expand their presence here. This will involve up to 5,000 new jobs in the next two to three years, many of which will be hired locally. Much will of course depend on whether there will be transitional periods. In fact, everyone agrees that there must be transitional arrangements. But no one can say for sure today whether there will be any. Our members are therefore still planning to have fully operational units in Germany on 29 March 2019 so that they can continue to provide financial services for their customers,” Winter emphasises.

Silvia Schmitten-Walgenbach and Guido Zoeller, the two vice-chairmen, emphasise the stable number of employees in the member institutions, which are also attributable to the good framework conditions and the still prosperous German economy. In addition to the economically stable situation, the foreign financial industry has also benefited greatly in recent years from international harmonisation, which is also an advantage for international supervision. The ECB has taken on an important role in this respect and further developed a level-playing field in the euro zone. Schmitten-Walgenbach adds: “In the interest of international financial stability, national recentering and a softening of internationally harmonised financial market regulation should therefore be avoided.”

As the financial centre becomes more international, Zoeller points out the impact on the work of the Association: “We will provide even more information in English and set up English-speaking working groups.” As the international importance of the financial centre grows in the next few years and institutions increasingly choose the place as a starting point for their financial services in other EU states, the association must also address new issues. “So far, we have tended to have an inbound view, but this will change. We will be prepared for this and we are looking forward to it,” summarizes Winter.

The complete speech can be found in the internet at

Costs of Brexit for EU27 exporters is around £31billion and for UK exporters is around £27billion. Source: Oliver Wyman

New Report Estimates Brexit ‘Red Tape’ Will Cost EU27 and UK Exporters £58 Billion a Year

  • The annual ‘red tape’, or tariff and non-tariff, costs of Brexit for EU27 exporters is  around £31billion and for UK exporters is around £27billion even after initial steps to mitigate costs have been taken. This is proportionately 4 times larger for the UK as a percentage of Gross Value Added (GVA ).
  • 70 percent of the aggregate impact falls in just five sectors in both the EU27 and UK.
  • Disproportional impacts in specific regions such as Bavaria in Germany and London in the UK.
  • A future customs arrangement equivalent to The Customs Union reduces the EU27 impact to around £14billon and the UK impact to around £17billon. Mitigating the costs of Brexit are non-trivial and impacted firms need to be taking steps now. Small firms will be least able to mitigate these costs and in turn pose risks to their supply chain.

BRUSSELS and LONDON, 12 March 2018 – In a unique assessment of the business costs of Brexit, Oliver Wyman and Clifford Chance have partnered to calculate the impact of tariffs and non-tariff barriers on companies if the EU27 and UK reverted to a World Trade Organisation (WTO) trading relationship with each other.

The ‘red-tape’ cost of Brexit estimates that the direct costs will total around £31billon for EU exporters and around £27billon for UK exporters, with non-tariff barriers accounting for more of the effect than tariffs. The report focusses only on the direct impacts of the UK’s exit from the EU which are of immediate importance to companies for Brexit planning. It does not model additional impacts such as migration, pricing changes or third country Free Trade Agreements, which are likely to increase the overall impact.

In the EU27 the hardest hit sector will be automotive, where the direct impact will be around 2 percent of current GVA.  Country level differences will vary considerably, with Ireland’s agricultural sector’s exposure to UK consumers, for example, a particular pinch point. In Germany, four of the sixteen states – Bavaria, North Rhine-Westphalia, Baden –Wuerttemberg, and Lower Saxony – will shoulder around 70 percent of the country’s direct impacts as a result of exports to the UK that arise from their leading global positions in automotive and manufacturing.

In the UK the Financial Services sector will take by far the biggest hit, incurring around a third of the extra ‘red-tape’ costs. However, there are very significant impacts in other sectors where firms are highly integrated into European supply chains – for example in the automotive, aerospace, chemicals and metals and mining sectors.

Kumar Iyer, Partner, Oliver Wyman, says: “There will be both winners and losers from Brexit. In order to navigate the uncertainty companies should be thinking about impacts under different scenarios both operationally and strategically. We see the best prepared firms taking hedges now based on the direct impacts on themselves, their supply chains, customers and competitors. Unfortunately we see that small firms are least able to take these steps at present.”

The impact assessment also reveals that the ability to mitigate the impacts of post-Brexit trade barriers will vary by sector and company size. Before designing their response, firms need to think through the impact on different levels: operations, supply chains, customers and competitors. Small firms will find this particularly challenging especially where they have no non-EU trade experience and may be rendered uncompetitive as they seek to make the changes needed. Automotive and aerospace industries will be able to localise supply chains and take advantage of domestic suppliers in some areas but with the loss of “passporting” financial services will require relevant front and back-office staff to relocate to the EU.  However, even within each industry individual impacts and the appropriate response are highly variable. The differences will depend on things like the mix of goods and services the business sells, where it is based, where its customers are, and how complex its supply chain is.

Jessica Gladstone, Partner, Clifford Chance, says: “Failing to prepare is preparing to fail. Given the difficulty of knowing exactly what turbulence lies ahead many businesses are putting Brexit in the ‘too hard’ box. However, exporters that understand exactly what Brexit’s risks and rewards could be for them will be able to implement the right plans at the right time to ensure that they are one of the winners rather than one of the losers.”

Access the full report: The Red-Tape cost of Brexit

Source: Oliver Wyman

Global Partnership Forms to Study Vibrant Frankfurt Startup Ecosystem and Identify Growth Drivers

Global Partnership Forms to Study Vibrant Frankfurt Startup Ecosystem and Identify Growth Drivers

In partnership spanning three continents, organizations will analyze conditions for startup success and what steps can boost growth, drawing lessons for other regions

In a unique global partnership, a 28-year-old Chinese serial entrepreneur, Startup Genome, Goethe University, and TechQuartier have come together to identify key factors in the success and growth of startup ecosystems. The project will focus on the fast-growing startup ecosystem in Frankfurt, Germany, and will generate findings that can be applied to regions across the world.

Yi Shi has built up one of Asia’s unicorn startups, DotC United Group, and has extensive international experience with large companies and startups. Studying at Goethe University motivated Shi to invest into this research initiative on the German startup ecosystem.

“I’ve been travelling between different continents (America, Europe and Asia) regularly and discovered different mindsets which impact the final approach and methodology in building a new business. And my intention to support this study, together with my alma mater, is to systematically analyze the macro and micro economic factors of building a successful startup ecosystem, in order to get a deep understanding of which measures could be done better by different stakeholders inside of the system.”

The study will use the Frankfurt Rhine-Main region and the German ecosystem as a basis for comparison with other global startup landscapes, identifying decisive framework conditions and growth drivers. A particular focus will be on the so-called scale-ups— i.e., young, fast-growing companies. A newly developed index will include growth conditions and success factor, and provide actionable insights for the German startup scene.

Startup Genome has been selected as the organization providing the international context of this project. The San Francisco-based company is the world leader in startup ecosystem assessment, delivering analytics and advice to innovation policy leaders in 30 countries to support the development of thriving startup communities. “The problem” explains CEO JF Gauthier, “is that four cities in three countries produce more than 70 percent of Exit Value in the Tech sector. We work to identify success factors so more cities and countries can benefit from the economic value generated by startups.”

Goethe University Frankfurt and TechQuartier will bring research experience and the latest scientific findings on the topic of entrepreneurship. Their growing experience with German startups will allow them provide the Startup Genome team with additional data and resources required for the project.

“We definitely need a better understanding of what makes talented youngsters transform into entrepreneurial leaders—whether they start their own business or innovate within existing firms. The study will test our hypothesis and then pave the way for tailor-made offerings of Goethe University to its students,” said Prof. Andreas Hackethal, dean at Goethe University and Academic Director of the Goethe-Unibator startup center.

Dr. Thomas Funke, Co-Director of TechQuartier, observed, “Startups alone will not save the German digital economy. Scaleups have the potential to do so. Therefore we are focusing in particular on scaleups, all startups that are characterized by continuous growth (20 percent growth over the last three years). They deserve special attention because they are an undisputed important element for the whole economy.”

New and reliable insights into the startup scene are important to clarify the key performance indicators and the success factors that are essential to a new company’s performance. This project will generate relevant data-driven insights, clarify which measures need to be implemented next, and identify how stakeholders can significantly contribute to improve the ecosystem. The study is scheduled to be published in June 2018.

Source: Pressrelease TechQuartier, March 12th 2018

Frankfurt Main Finance grows: three new members pledge their support for Financial Centre

The Financial Centre initiative Frankfurt Main Finance is proud to welcome three new members. With the addition of SDG Investments GmbH, niiio finance group AG and Vendôme Associés, the initiative now has more than 50 members. The young companies niiio finance group and SDG Investments join as FinTech members, and Vendôme Associés as a sustaining member.

The association’s members are representatives from research institutes, the financial sector, public administration and the emerging FinTech sector. Through their membership and engagement, they all demonstrate their close relationship to Frankfurt and desire to position Frankfurt amongst the top national and international financial centres. Frankfurt Main Finance leverages the influence of its members to advocate for the Financial Centre Frankfurt and provide high-calibre dialogue platforms.

“We are delighted about the new members and their commitment to the Financial Centre Frankfurt,” say Dr. Lutz Raettig, President of Frankfurt Main Finance. “The growth strengthens the association and lends more power to our voice – a benefit for all members. In turn, we also provide fast, direct access to a prominent industry network.”

Since Brexit discussions began in 2016, Frankfurt Main Finance has been an in-demand conversation partner for the media, reaching more than eight billion potential contacts with its messages. Publications in 93 countries have either conducted interviews with representatives of the initiative or published statements and comments released by Frankfurt Main Finance. In addition to promoting the Financial Centre Frankfurt as a home for financial services affected by Brexit, Frankfurt Main Finance is also an outspoken advocate for the Frankfurt Rhine-Main Region’s emerging FinTech-ecosystem.

Founded in 1987, the new sustaining member Vendôme Associés specialises in the direct recruiting of leaders and experts as an independent HR and Executive Search Consultancy. Headquartered in Paris, they continue to strengthen their presence in Germany, opening a Frankfurt office in 2014. “We are thrilled to join Frankfurt Main Finance and to actively support the promotion of this future-oriented and promising city,” says Anne von Bredow, partner at Vendôme Associés. “We believe Frankfurt can attract even more talents from other European countries once people realize how much the city has to offer in terms of career possibilities, infrastructure and cultural life.”

Digital services for the digital future of banking – that is niiio finance group’s speciality. “Our goal is to position niiio finance group as a strong member of the FinTech Ecosystem in Germany’s leading financial centre and thanks to our membership in Frankfurt Main Finance, hopefully develop valuable synergies with cooperation partners,” says Johann Horch, CEO of the Niiio Finance Group. In addition to the robo-advisor, the young FinTech offers a community platform, API banking tools, tailored consulting and development services, and operating models.

SDG Investments operates a matching platform for financing and investment products based on the United Nations Sustainable Development Goals (SDGs). “We became aware of Frankfurt Main Finance through the SDG Fintech Initiative,” explains Frank Ackermann, director and managing partner at SDG Investments. “From our point of view, Frankfurt, as the most important financial centre in continental Europe, is the right location for our activities. Since we are aimed at institutional investors, we achieve the highest degree of efficiency here. We hope that we will find many supporters among the members of Frankfurt Main Finance.” Through the platform, registered professional and institutional investors will find sustainable investments that meet their individual investment criteria.

AFME & Clifford Chance publish FAQs to assist bank clients address contractual questions

AFME, together with Clifford Chance, has today published guidance to assist bank clients in understanding how their cross-border relationships may be impacted by banks’ plans to adapt to Brexit.

The FAQs explain the potential significant impact on contractual relationships for financial services, providing answers to a number of “Frequently Asked Questions” which highlight potential operational and documentation impacts. As banks begin implementing their Brexit contingency plans, clients are likely to see impacts in respect of existing cross-border contracts and will be required to put in place arrangements for new business following Brexit.

The FAQs address questions such as which clients may be in scope, which contracts may be affected, how they may be impacted and consequential operational impacts that need to be considered.

Simon Lewis, Chief Executive of AFME said: “With the Brexit political process still ongoing, our FAQs document highlights the need for clients to take action now by reviewing documentation and operations to understand how they might be impacted, including whether operations may need to change. This is to ensure that clients have sufficient lead time to address documentation, technical and other issues for minimal business disruption. In this respect, AFME continues to call for clarity that clients will be able to rely on services under existing contracts post-Brexit.”

Monica Sah, Partner at Clifford Chance, said: “Six months ago nobody was talking about repapering. Now people realise that moving contracts from one jurisdiction to another is likely to be a significant undertaking as banks adapt to Brexit. These FAQs attempt to simplify a hugely complex process and help clients understand how their day to day contractual activities will be impacted by their dealers’ implementation of their own Brexit strategies. Clients need to work with their dealers to ensure a smooth transition and a continued seamless service.”

The FAQs primarily focus on questions relevant to EU27 clients of UK-based banks in relation to sales and trading in wholesale markets and related credit given for settlement purposes. The FAQs also highlight questions for UK-based clients of EU27-based banks, and primary market and financial market infrastructure impacts.

The FAQs are available in EnglishFrenchGermanItalian and Spanish.

Deutsche Börse – Crypto asset dojo 2018

If your daily activities include any of the following: creative thinking, coding, designing, hardware tinkering and lots of coffee, this one is for you! Deutsche Börse invites you to think about new, innovative financial services business applications.

Deutsche Börse’s upcoming dojo is all about crypto assets – or, to be more specific, about Ether, bitcoin, other crypto currencies, initial coin offerings and even tokenised company shares on private or public blockchains.

Challenge Deutsche Börse and their core business in a mind-opening way! Develop and present ideas how you believe Deutsche Börse Group can be a valuable part of the crypto asset space.

Divided into groups of up to five and given unique challenges on site, your participation in Deutsche Börse’s two-day dojo can range from presenting your teams idea up to the development of prototype software. You are fully in charge of how and what you want to present with the goal to differentiate you and your team’s idea from the other attendees.

Fuelled and developed by “out-of-the-box” thinkers, crypto assets are entering established industries, demonstrating that innovation and change have to be addressed! Deutsche Börse is confident that the current financial and crypto asset worlds will benefit from each other. Deutsche Börse wants to be part of this movement, and very importantly want to learn about people like you who shape it!

Interested? Then sign up and give Deutsche Börse a first impression about yourself and your capabilities, filling in the form here at the latest by 25 of February.

You will be informed by second of March if you are among the chosen participants.
The three best ideas will win up to €5,000, €3,250 and €2,500 on the basis of the agreed terms of our conditions of participation.

Primärmarktkonferenz 2018 des Deutschen Aktieninstituts. Im Bild Christoph Heuer, Head of Equity Capital Markets Goldman Sachs International

IPOs in the crosshairs: reflecting on Deutsches Aktieninstitut‘s Primary Market Conference 2018

2018 should be the strongest year for IPOs in a long time. Thus, the Deutsches Aktieninstitut focused its primary market conference on current questions and developments regarding the topic of initial public offerings. On January 30, at the Steigenberger Frankfurter Hof near Willy-Brandt-Platz, 60 attendants from companies, banks, legal firms and consultancies met for an extensive exchange on the matter.

The spectrum of topics ranged from the new prospectus regulation (ProspektVO), which comes into effect in June 2019 in the European Union (EU), to experience reports from VARTA and Uniper. During the boom years in the late 90s, mainly young startups with new business models came onto the stock markets, nowadays spin-offs, well-established companies or at least proven business models mark the IPO scene.

For these, the rather dry appearing KGaA legal form can serve as a bespoke solution – especially if the old shareholders want to stay in control. An example for an upcoming initial public offering of a GmbH & Co. KGaA is the DWS (Deutsche Asset Management) with Deutsche Bank as limited partner. Through a so-called Joint Committee, the Supervisory Board should have a greater say than usually common in a KGaA. This shows the flexibility of the arrangement of the KGaA system.

Slightly out of focus is the listing of German companies in the USA. In the 90s, German issuers listed peaked at around 30. However, after the Sarbanes-Oxley Act of 2002, more than two-thirds of them delisted and deregistered.

Since 2012, the Jumpstart Our Business Startups Act (JOBS Act) made listing on the US stock markets more attractive, especially for small business with annual turnovers of no more than 1,07 billion USD. German companies who are considering this, should note the following three aspects: 1) The coordination of reliable time tables with BaFin is possible, which is not always a given with the SEC. 2) financial statements need to be submitted in the USA after the US GAAP or the original IFRS, not in the EU version. 3) Essential contracts must be attached with the registration statement. For this reason, trivago had to translate and publish the rental agreement of its new headquarters in Düsseldorf. Whichever proposals the European legislators could extract from the JOBS Act, remained inconclusive at the conference. The listing in the USA offers a solution for companies with very specific conditions.

by Charlotte Brigitte Looß

“Mr. Financial Centre turns 75”

If Lutz Raettig did not exist, Frankfurt would have to invent him. The financial centre on the Main and the financial centre initiative Frankfurt Main Finance owe much to Lutz Raettig. Since 2005, he has been Chairman of the Supervisory Board of Morgan Stanley Bank AG in Frankfurt. From 1995 to 2005, he served as Morgan Stanley Bank AG’s Chief Executive Officer. Read more

Deutsche Börse makes strides towards future in Frankfurt

Deutsche Börse will expand the historic stock exchange building in the heart of the Main Metropolis into the Financial Centre Frankfurt’s communications center and a point of contact for the general public. The protected landmark, home to the renowned trading floor and Frankfurt’s Chamber of Industry and Commerce (IHK Frankfurt), will be the symbolic heart of the financial centre and Deutsche Börse in Frankfurt.

“We are delighted by this commitment from Deutsche Börse. Frankfurt will receive a modern centre and visible symbol of the city and region’s growing prominence as the most important financial centre in continental Europe,” says Dr. Lutz Raettig, President of the Financial Centre Initiative Frankfurt Main Finance. “The decision could not come at a better time. Deutsche Börse is proudly flying the flag for Frankfurt, which is now, as a result of Brexit, a focal point in restructuring the architecture of the European financial industry.”

Lasting until early 2020, Deutsche Börse plans to invest 18.5 million euros in the expansion and has signed a lease with the IHK Frankfurt, the building’s owner, stretching until 2048. Following the renovation, Deutsche Börse will increasingly concentrate on using the visitor center as a modern means for providing education. Guests will learn about the functioning of the stock market and the exchange’s benefits for industry and commerce, thus, its benefits for society.

The Deutsche Börse Group announcement is available here.

Photo: Deutsche Börse AG