| Last week in Germany, a new stock market, NASDAQ Deutschland, began operating, intended for trading in securities of US and German corporations. According to the founders of NASDAQ Deutschland, it will become the main competitor of the Frankfurt stock exchange and the Xetra electronic trading system. In the next three years, the creators of the German NASDAQ plan to increase the trading volume in their index to 15% of the total turnover of the German stock market and thus become the second trading platform in Germany in terms of this indicator.
The German version of NASDAQ (New York Stock Exchange index of high-tech companies) is a joint project of NASDAQ Stock Market, the operator of the American electronic exchange NASDAQ, two regional German stock exchanges in Berlin and Bremen, Commerzbank and Dresdner Bank, as well as Comdirect, a division of the Internet Commerzbank trading. The system was launched on Friday, after the opening ceremony of the exchange, which was attended by the entire business elite of Berlin and Bremen. At 9.00 local time, an exchange official reported that “from a technical point of view, trading is going excellent.”
In the first days of NASDAQ Deutschland's operation, the system will allow trading in shares of 128 US companies included in the calculation of the NASDAQ 100 and Dow Jones Industrial Average indices. Brokers will be able to begin operations with securities of German companies in two weeks, when 110 national companies from the DAX, MDAX and TecDAX indices will be listed on NASDAQ Deutschland. The founders of the new platform assure that over time the number of shares traded will increase significantly. Thus, NASDAQ Deutschland Chairman Jim Weber sets a goal for the site to include more than 3 thousand items in the index calculation.
“The launch of NASDAQ Deutschland makes the market more competitive and provides investors with new choice. The basis of our platform is the experience of NASDAQ and the high quality of information due to the expertise of several well-known financial institutions. We will provide an excellent alternative platform for growing companies,” said Mr. Weber. The founders of NASDAQ Deutschland name Germany's largest trading platform, the exchange in Frankfurt am Main, which uses the Xetra electronic trading system, as their main competitor. Denis UVAROV
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