The launch marks the first step towards the goal of trading approximately 3,000 stocks, including a wide range of the world’s most actively traded securities. Initially, NASDAQ Deutschland will provide investors with the opportunity to trade in securities drawn from the DAX®, MDAX®, TecDAX®,, NASDAQ-100®, and Dow 30. Starting today, 128 securities, comprising the NASDAQ-100 and Dow 30, will be traded and an additional 110 German stocks, on the DAX, MDAX and TecDAX, will be introduced on April 7th. Securities will continue to be added as NASDAQ Deutschland progresses towards its eventual target of trading approximately 3,000 stocks.
Jim Weber, Chairman of NASDAQ Deutschland commented, “The launch of NASDAQ Deutschland introduces greater competition to the market and provides investors with a new choice. NASDAQ Deutschland combines NASDAQ’s experience in serving the retail customer through high quality price formation, transparency and excellent value with the expertise of some of Germany’s best-known financial institutions. In addition, we will offer an excellent alternative listing platform for growth companies.”
John Jacobs, Executive Vice President, The NASDAQ Stock Market, added, “The retail focus of the new NASDAQ market in Germany will achieve greater visibility for NASDAQ-100 companies with German retail investors. Germany is the largest economy in Europe and the trading of NASDAQ-100 company shares on NASDAQ Deutschland is further evidence of the support that NASDAQ seeks for its companies internationally.”
NASDAQ Deutschland also announced the participation of several new order flow providers, who will offer Best Execution: Consors, one of the largest European online stockbrokers; Citibank Privatkunden, a major retail broker; and two regional banks, Oldenburgische Landesbank and Bankhaus Neelmeyer. These additional Best Execution order flow providers join current bank partners Commerzbank, comdirect bank and Dresdner Bank. In addition, more than 40 banks throughout Germany and Austria are connected to NASDAQ Deutschland, including most of the major order flow providers and settlement banks, which in turn, have numerous banks from the public banking sector as clients. Many of these order flow providers are expected to offer their retail customers Best Execution on NASDAQ Deutschland, including Bankgesellschaft Berlin, which intend to do so by April 7th.
NASDAQ Deutschland utilizes a best execution model, which provides German retail investors with more competitive pricing and improved liquidity for both German and international stocks. The BestEx function is unique to the German market and ensures the trade is executed at the best available price by seeking inputs from the most liquid external reference market and generating a “Börsenpreis” (an official exchange price). The market model for NASDAQ Deutschland, SuperMontage Europe, is based on the competition of market makers in combination with the advantages of an open order book, supported by advanced features that reduce the need for clearing and settlement through internalization. Berliner Effektengesellschaft, Commerzbank and Dresdner Bank will act as market makers on NASDAQ Deutschland and the company is confident that it will continue to attract other national and foreign market makers.
The launch was commemorated at a ceremony in Berlin addressed by Harald Wolf, the Mayor and Secretary of Commerce of Berlin. Members of the business community and Börse Berlin-Bremen joined representatives from NASDAQ Deutschland’s partners in marking the first day of trading.
Notes to Editors:NASDAQ Deutschland
NASDAQ Deutschland offers an efficient, high quality execution platform for German retail order flow and an alternative listing platform for German and international issuers. Market participants benefit from an open architecture market model, NASDAQ SuperMontage Europe, which provides more competitive pricing and improved liquidity for both German and international stocks. Investors will have access to a wide range of international securities drawn from the DAX, TecDAX, MDAX, NASDAQ-100 and Dow 30. For further information on NASDAQ Deutschland, please visit www.NASDAQdeutschland.de.
DAX, MDAX and TecDAX are registered trademarks of Deutsche Börse AG. †Dow Jones Industrial Average is a registered trademark of Dow Jones & Company, Inc. NASDAQ-100 is a registered trademark of The Nasdaq Stock Market, Inc. NASDAQ Deutschland AG is an operating business of Börse Berlin-Bremen.
