Bremen Stock Exchange
The Bremen Exchange was German until 2007 one of the eight regional stock exchanges . Floor trading was given up in 2000 and the last operational units were dissolved in 2007. The assets of the stock exchange holding were transferred to the newly established Bremen Stock Exchange Foundation . Science, research and culture should benefit from the return.
Beginnings
In the late Middle Ages, the market square and the Liebfrauenkirchhof in Bremen were the most important trading and trading centers.
In order to make room for the stock exchange, the so-called shoe booths were closed in 1613/14 , a two-story building with a cellar with 28 shoemaker's workshops. Six years later, 21 cellar vaults were built here for wine storage. The construction of the actual stock exchange building was postponed due to the Thirty Years' War and the subsequent Bremen-Swedish Wars . First, the top of the cellar was covered with stone slabs and the raised open space was used as a stock exchange. Most business activities soon took place here. On March 14, 1682, the City Council of Bremen issued the 1st Exchange Rules . Merchants and brokers were obliged to meet there daily from 9 a.m. to 10 a.m.
The old stock exchange
After half a century, the inadequately protected vaulted cellar suffered serious damage. At the same time, the number of open-air deals increased again. Finally, the architect Jean Baptiste Broëbes was commissioned to build the stock exchange. In 1687 he began to erect a one-story baroque- style building above the basement , which was moved into in 1695. According to Giselher von Warneck's plans, a second floor was built between 1734 and 1736.
The trading floor and the lottery taker's office were on the ground floor . The office was rebuilt towards the end of the 18th century and set up as a bookshop. On the new second floor there were two small and one large ballroom for concerts, weddings, guest receptions and similar events. The basement of the building probably had a connection to the Bremen Ratskeller even then . Trading in the Old Stock Exchange focused primarily on brokerage, commodity and bills of exchange , while stock trading did not begin to any significant extent until the second half of the 19th century.
After the invasion of Napoléon Bonaparte and his troops, the stock exchange was temporarily closed by the French. In September 1811 they arranged for a move to the Kramerhaus and the town hall , where trading could continue. In October 1813 - after the defeat of the French - the stock exchange was able to resume business in the building at the Liebfrauenkirchhof.
In 1816 the merchants' convention issued the II. Stock Exchange Regulations supported by the Bremen Senate . At first, however, the economic situation of the merchants was not yet promising, but in the 1820s the situation improved and the old stock exchange soon proved to be insufficient. In 1849 the III. Exchange rules published, which transferred the supervision of the business to the Chamber of Commerce. From 1853 onwards, it received support from the newly founded Bremen Stock Exchange Association . The building also housed the higher, lower and commercial courts and, from 1879, the Bremen regional court .
In 1864 trading was relocated to the Neue Börse on the market square.
The old stock exchange, which is no longer in use, burned down in 1888. After the ruins were torn down, the building's basement was lowered and now forms part of the Bacchuskeller , a section of the Bremen Ratskeller .
The new stock exchange
In 1855 the Bremen Chamber of Commerce and the Börsenverein decided to construct a new building. To do this, they had seventeen old gabled houses and the Wilhadi Chapel on the east side of the market square demolished between 1860 and 1863 . A new trading building was built between 1861 and 1864 under the direction of Heinrich Müller . Its inauguration was celebrated on November 5, 1864.
The Neue Börse on the market square was a large neo-Gothic building with a portal staircase similar to the Schütting and two towers. The interior was designed by many well-known artists of the time. Among others, the painters Arthur Fitger and Peter Janssen and the sculptor Diedrich Samuel Kropp contributed to it. The building had a large hall, several office rooms, a conference room and offices that were also used by the Bremen citizens . There was also a public restaurant in the basement.
Even at the beginning of trading in the Neue Börse there was hardly any securities trading in Bremen . As recently as 1883, only 6 stocks were regularly listed. Mainly bills of exchange and goods transactions were made. However, that changed in the 1890s. On January 1, 1890, the stock exchange , i.e. the area that traded in shares and other securities, set up new guidelines, as a result of which the Bremen stock exchange gained more and more importance and soon connected to other European institutes. With the entry into force of the Reich Stock Exchange Act on June 23, 1896, it became a service provider with a public mandate that worked according to uniform regulations across the country. With the establishment of the independent cotton exchange, trade on the commodity exchange slackened significantly.
In the course of the November Revolution of 1918, the New Stock Exchange briefly entered the political limelight when the politician Alfred Henke announced in a hall of the building that a workers 'and soldiers' council would take power and the senate and the citizenry would be dissolved. From this body, the Bremen Council Republic developed at the beginning of the following year .
In 1934 the new stock exchange was closed and the Bremen securities trading was transferred to the Hanseatic stock exchange in Hamburg.
Exchange medal
The stock exchange medal , also known as the Börsenthaler , was minted twice by K. Drentwett in 1864 for the inauguration of the New Stock Exchange. In weight it corresponded to about half a thaler. A few pieces were struck in gold.
Exchange building
Börsenhof A, Am Dom 5A, was an annex building to the Neue Börse. While the main building, designed by Heinrich Müller from 1861 to 1864 in the neo-Gothic style, had to give way to the citizen's house after severe war damage in 1943 in the course of reconstruction, the office building was retained. From 2000 to 2001 the semicircular building was refurbished and increased according to plans by the Bremen architects Schomers and Schürmann.
The triple arcades on pillars with finely carved bud capitals and vaults in the atrium closed by a glass roof are significant . The curved staircase placed freely in the room forms its own tower in the courtyard.
Monument protection
Börsenhof A was placed under protection as a Bremen monument in 1992 : See the list of cultural monuments in Bremen-Mitte .
World War II and the time after
On December 20, 1943, the main building facing the market burned down completely after an air raid. Only the eastern side of the stock exchange remained. The Bremen Stock Exchange was reopened on February 16, 1949 with the consent of the US occupying forces. The stock exchange meetings took place first in the Sparkasse and later in a room in the Schütting.
The part of the old stock exchange that has still been preserved has been restored and increased. The ruins of the main building remained in place for around twelve years; it was demolished in 1955. It was not until 1957 that the Chamber of Commerce sold the property to the city. Thereupon, according to plans by the architect Wassili Luckhardt, the Bremen citizenship building was built in 1965/66 .
On March 9, 1982, the stock exchange moved to an outbuilding of the Bremer Bank at Domshof 11. Eight years later it moved to the building at Obernstrasse 2–12 , which was formerly the seat of the Schröder Bank, near the market square .
The Bremen Stock Exchange promoted the use of computers in securities trading early on. From 1990 onwards, retail was extensively supported by the BIFOS program. In the following years, other programs were used, including B. BOSS-CUBE and BÖGA (today XONTRO) and IBIS (successor system: Xetra). In addition, further measures were taken to make stock market trading more attractive, especially for private investors. B. the lowering of the minimum number of units for continuous trading and the considerable extension of trading hours. In addition, the Bremer Börse was active by founding subsidiaries in the field of issuing advice and securities trading and processing for third parties, in particular smaller credit institutions and brokerage firms. This bundle of measures led to a significant recovery in trading activity from 1990 onwards.
At the beginning of 2000 floor trading was finally given up in favor of computer trading , whereupon the institute moved again due to the changed requirements for the business premises and settled with around 30 securities dealers and brokers in the Kohlhökerstraße in the Deutsche Bundesbank building. In 2002 there was a ten percent stake in NASDAQ Deutschland AG - together with NASDAQ Europe AG (50%), Berlin Stock Exchange (10%), comdirect (7.5%), Commerzbank (7.5%) and the Dresdner Bank (15%). The aim was to establish a new exchange in Germany based on the NASDAQ model in the USA. However, the expectations could not be met.
In March 2003, the Bremen stock exchange merged with the Berlin stock exchange to form the public stock exchange "Börse Berlin-Bremen". In 2005, the parent company of the Bremen Stock Exchange was sold to the Swiss Exchange after the failure of the cooperation with NASDAQ . In 2007 the state treaty with the Berlin Stock Exchange was dissolved again. The Bremer Wertpapierbörse Foundation was founded from the assets of the BWB Wertpapierbank and BWB Wertpapier-Emissionsberatung , which were merged with the Bremer Wertpapierbörse Holding .
The Bremen Stock Exchange Foundation has been working as a non-profit foundation since September 2007. It is intended to promote science, research and culture.
Individual evidence
- ^ Johann Hermann Duntze, History of the Free City of Bremen , Vol. 4, p. 280, The Stock Exchange
- ^ Norbert Larisch: Bremen court house: building history; Craftsmanship; Allegory . 1st edition. Hauschild, Bremen 1985, ISBN 3-920699-69-6 , pp. 9 .
- ^ Herbert Black Forest: The Great Bremen Lexicon . Edition Temmen, Bremen 2003, ISBN 3-86108-693-X .
- ↑ Press release of June 18, 2007
- ↑ The Bremen Stock Exchange is dissolved. In: Frankfurter Allgemeine Zeitung . No. 163 of July 17, 2007.
literature
- Herbert Schwarzwälder : Bremen through the ages , Carl Schünemann Verlag , Bremen 1970
- Herbert Black Forest: The Great Bremen Lexicon . Volume 1: A-K. 2nd, updated, revised and expanded edition. Edition Temmen, Bremen 2003, ISBN 3-86108-693-X , pp. 94-95.
