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Deutsche Börse becomes majority shareholder in Tradegate Exchange

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Deutsche Börse is to acquire a 75 per cent holding plus one share in Berlin’s Tradegate Exchange, with effect from 8 January 2010.

Tradegate Exchange operates the off-exchange trading platform Tradegate, which has been running 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 will also acquire a five per cent share in Tradegate Wertpapierhandelsbank, one of the market makers in Tradegate. Deutsche Börse will also have the option of gradually increasing its share in Tradegate 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 and the initial five per cent holding in Tradegate.

“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,” says Frank Gerstenschläger (pictured), member of the executive board of Deutsche Börse and responsible for the Xetra business area.

“The market share of the MTF Tradegate has grown continuously and significantly in recent years. This shows that our strategy to develop a trading platform in tune with the needs of private investors has borne fruit. We are pursuing further growth of the platform into the rest of Europe with Deutsche Börse’s renown and strength in terms of distribution,” says Holger Timm, chief executive of Tradegate.

Deutsche Börse’s majority interest in Tradegate Exchange will serve to expand its trading offering for private investors and strengthen its position in the European retail market.

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