Deutsche Börse boosts Tradegate shares 16 December 2014Berlin Reporter: Stephanie Palmer
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Deutsche Börse has increased its shares in Tradegate AG by exercising call options, boosting its stake from 5 percent to just under 15 percent.
Securities trading bank Tradegate AG is a liquidity provider and is active on various German exchanges, particularly the Tradegate exchange in Berlin.
Deutsche Börse has owned 75 percent of the Tradegate Exchange since 2010, the same time that it acquired its 5 percent stake in Tradegate AG.
Martin Reck, cash market managing director at Deutsche Börse said: “This increase is strategic for us and strengthens our long-term cooperation with Tradegate AG. We see good opportunities in the European retail market that is opening up; at the same time we also value the cooperation in the increasingly competitive and growing price-sensitive retail client segment in Germany in the light of the keen competition from off-exchange offers.”
Tradegate AG services about 5,000 equity order books on the Berlin and Frankfurt stock exchanges, and specialises in equities and ETFs.
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