Frankfurt FinTech Report #4

Joint Deutsche Bundesbank and Deutsche Börse blockchain prototype

Deutsche Bundesbank and Deutsche Börse jointly presented a functional prototype for the blockchain technology-based settlement of securities. The innovative prototype is designed to provide the technical functionality for the settlement of securities in delivery-versus-payment mode for centrally-issued digital coins, as well as the pure transfer of either digital coins or digital securities alone. In addition, it is capable of settling basic corporate actions such as coupon payments on securities and the redemption of maturing securities.

The Deutsche Bundesbank and Deutsche Börse plan to develop the prototype further over the next few months, and this product will then be used to analyse the technical performance and the scalability of this kind of blockchain-based application.

“Along with the Deutsche Bundesbank we are innovatively and creatively addressing potentially radical technological opportunities for the financial sector. We will continue to do our utmost to leverage blockchain’s efficiency potential and to better understand and minimise the associated risks of this technology,” added Carsten Kengeter, CEO of Deutsche Börse AG.

DVFA Offers Fit & Proper Training for FinTechs

DVFA has introduced a new training course, designed specifically for FinTechs. The “Fit & Proper” training aims to provide employees and managers in FinTech companies with sufficient experience and competence in the eyes of regulators. Topics covered include Financial Markets, Regulation, Governance and Controlling, and Strategic Management. The course is completely digital, lasts about 25 hours and will kick-off on January 27, 2017. Following the completion of the course work and a 90-minute exam, participants will receive a Certificate in Financial Markets Competence.

Frankfurt’s Tech Quartier Opens

On November 17, the Frankfurt FinTech community celebrated the opening of its new FinTech hub, Tech Quartier, which will soon be home to some of the area’s most innovative start-ups. The current space in the Pollux high-rise has 120 workplaces and an expansion onto a second floor is already planned. At the official opening, Tech Quartier’s Managing Director Dr. Sebastian Schäfer explained, “For the first time, Frankfurt now offers foreign FinTechs and Start-ups an attractive place to start their business in Germany and prepare for their entry to the European market.” The opening of Tech Quartier marks the culmination of nearly a year’s work from the Hessen Ministry for Economics and the FinTech Dialogue Forum, which was initiated by Frankfurt Main Finance. Financial support for Tech Quartier has come from a broad base of large banks and consulting firms. Platinum Sponsors include Commerzbank, Deutsche Bank, Deutsche Börse, DZ Bank, Helaba and ING-DiBa. Gold Sponsors are Sparda-Bank Hessen, Allen & Overy, EY, KPMG and PWC.

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