Berlin Stock Exchange

from Wikipedia, the free encyclopedia
Stock Exchange Berlin AG
legal form Corporation
founding June 29, 1685
Seat Berlin , GermanyGermanyGermany 
management Oliver Szabries
sales € 46.4 billion (2018)
Branch Exchanges
Website www.boerse-berlin.de

Berlin Stock Exchange on Burgstrasse , in front of it the Friedrichsbrücke

The Börse Berlin AG (formerly Berlin Stock Exchange ) is a regional stock exchange in Berlin , owned by the Tradegate Exchange GmbH is.

history

The Berlin Stock Exchange was founded on June 29, 1685 by Elector Friedrich Wilhelm in Berlin. The first trading session took place on February 25, 1739. Initially, the upper floor of the former pleasure house in the pleasure garden next to the cathedral was used, before it was demolished in 1798 in favor of a new building for the stock exchange in the same place. From 1803, the stock exchange was run by the United Stock Exchange Corporation, and from 1820 by the newly founded corporation of the merchants.

The representative stock exchange building in Burgstrasse 25-26 on the other side of the Spree was built by Friedrich Hitzig from 1859 to 1863 in the neo-Renaissance style and opened on October 1, 1863. Its two trading floors were the largest in the city at the time. In summer there was also trading in the inner courtyard, the so-called summer exchange. Because of its location on Burgstrasse, the Berlin Stock Exchange was also known as "The Burgstrasse". The total cost of the construction was 700,000 thalers . Economically, the Berlin stock exchange was one of the three most important in the world until the beginning of the First World War - after London and next to New York. With the general mobilization of Russia on July 30, 1914, the beginning of the First World War, it was initially closed completely. The unrestricted free market was only resumed on November 2, 1917.

In 1920, when the corporation of the merchants' union went up after one hundred years of existence in the Berlin Chamber of Commerce founded in 1902, the sponsorship of the stock exchange was also transferred to the latter. In 1922, the share index of the Reich Statistical Office was calculated for the first time , based on the average price level of around 300 representative shares of the Berlin Stock Exchange. The economic Broadcasting , an agency for business news, had an office in the stock market. The Black Friday on 13 May 1927 was the stock index on the stock exchange by 31.9 percent slump. At the end of 1926, 917 stock corporations were traded on the stock exchange, at the end of 1932 there were 659. By 1943 the number of companies listed had sunk to 450. The Second World War in 1943 led to the cessation of price determination by the Reich Statistical Office .

On May 24, 1944, the stock exchange building burned down after an air raid; the rebuildable ruins were demolished in 1957 and 1958 following a decision by the municipal authorities. For a long time, some clearly visible parts of the building (pillars, facade decorations) were located behind a site fence that had been in place until the new construction was started in 2001. After the end of the war, the Berlin Stock Exchange was reopened in West Berlin. However, with all the big corporations and banks out of town, the stock market could never regain the importance it had before the war.

In March 2003, the Bremen stock exchange merged with the Berlin stock exchange to form the public stock exchange "Börse Berlin-Bremen". In June 2007 this association was dissolved again. The Börse Berlin institution has existed since then . In a press release it said:

“In the future, the umbrella brand 'Börse Berlin' will unite both the stock corporation and the public exchange. The dissolution of the State Treaty was the last hurdle on the way to the renaming in Börse Berlin. The addition Bremen is now formally a thing of the past. "

- Press release of June 18, 2007

The Berlin Stock Exchange is now based in the Ludwig-Erhard-Haus at Fasanenstrasse 85 in the Charlottenburg district . On October 9, 2019, it was announced that Tradegate Exchange GmbH, also based in Berlin, will take over Börse Berlin AG. The previous managing directors, Jörg Walter and Artur Fischer left and were replaced by Oliver Szabries. Tradegate Exchange GmbH is 75 percent owned by Deutsche Börse AG and operates a stock exchange itself. The takeover is a further consolidation step on the regional stock exchange market.

  • Stock exchange in the former pleasure house , 1750

  • Exchange at the Lustgarten, 1820

  • Berlin Stock Exchange on a Deutsche Bundespost stamp, 1985

  • Remnants of the stock exchange on Burgstrasse, 1998

  • Remnants of the stock exchange on Burgstrasse, 1998

Data on the Berlin Stock Exchange

(Status: January 2016, Berlin Stock Exchange)
  • Total sales 2011: 13.8 billion euros (+84%)
  • Share turnover 2011: EUR 0.83 billion (+ 4.5%)
  • Bonds turnover in 2011: EUR 12.7 billion (+98.4%)
  • Fund turnover: EUR 0.260 billion (−16.4%)
  • Other securities: 0.056 billion euros
  • Sales Equiduct: 33.7 billion euros (+802%) around 1,534 blue chips
  • Turnover of fixed-income securities in 2008: 56.7 billion euros (+ 94.2%)
  • Trading participants 2011: 59 credit institutions , 17 financial service providers, 5 lead brokers and 2 market makers
  • Total number of stocks traded up to 2011: 35,212, regulated 1,419
  • Number of stocks traded over the counter in 2011: 31,841 (stocks, bonds , certificates , warrants )
  • Total international stocks up to 2011: 13,059
  • North American stocks: 5,598 (including all stocks traded on NASDAQ )
  • Eastern European stocks: 124
  • Asian equities : China (1,321), Japan (371), New Zealand through 2008 (61), Australia (1,442)
  • Number of bonds traded 15,318, fund shares : 3,049

Equiduct Trading

In September 2007 Börse Berlin acquired a majority stake of 53% in EASDAQ NV, which operates under the Equiduct brand. The aim of the transaction is a partnership with which the possibilities offered by the European Financial Market Directive (MiFID) are to be used.

The Equiduct Trading segment, which is part of the cooperation, started operations on July 1, 2008. The core elements of Equiduct Trading's market model are the HybridBook, PartnerEx and the VBBO ( volume weighted best bid and offer ). PartnerEx enables market participants to define their own trading parameters and internalize transactions within the framework of bilateral relationships. In the HybridBook, orders are executed against each other or encounter executable, two-sided, binding quotes from market administrators. The VBBO is a mathematically calculated exchange price . The price is calculated using a virtual order book that bundles visible pre-trade information (Level II data) from relevant markets and thus generates a real-time data stream for liquid European stocks.

Equiduct is 53% owned by Börse Berlin, 23% by Jos Peeters, a Belgian venture capitalist, and the remainder by various investment banks , including Knight Capital and Goldman Sachs .

Equiduct Trading's current platform, called the European Trading System (ETS), is based on the EASDAQ system, which was developed around the year 2000 for around 50 million euros. This system was originally a proprietary trading system that was developed for EASDAQ and Nasdaq Europe.

In July 2009, the Berlin Stock Exchange significantly reduced its stake in Equiduct to just over 10% after the Chicago hedge fund and trading system operator Citadel had taken over a stake of well over 50% in Equiduct.

literature

  • EH: One hour on the Berlin Stock Exchange . In: The Gazebo . Issue 29, 1867, pp. 456–459 ( full text [ Wikisource ]).
  • Katrin Richter: The media of the stock exchange. A history of knowledge of the Berlin Stock Exchange from 1860 to 1933, Lukas Verlag 2020

Web links

Commons : Börse Berlin (building)  - Collection of images, videos and audio files
Wikisource: A midday at the Berlin Stock Exchange (1869)  - Sources and full texts

Individual evidence

  1. ↑ Black Friday . In: Die Zeit , No. 14/1967.
  2. ^ Deutsche Bundesbank: German money and banking in numbers 1876–1975. Fritz Knapp Verlag, Frankfurt am Main 1976, ISBN 3-7819-0165-3 .
  3. ↑ Götz Eckardt (ed.) And others: Fate of German architectural monuments in the Second World War . Henschelverlag Art and Society, Berlin 1978, Volume 1, p. 45
  4. ↑ Tradegate takes over Berlin Stock Exchange. Retrieved January 17, 2020 .
  5. ↑ Tradegate Exchange takes over the sponsorship of the Berlin Stock Exchange - boersen-zeitung.de. Retrieved January 17, 2020 .
  6. ↑ General information on the Berlin Stock Exchange. Berlin.de
  7. ↑ Reuters, July 21, 2009

Coordinates: 52 ° 30 ′ 24 ″  N , 13 ° 19 ′ 42 ″  E