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Company history

Company history

Overview of content

1990 to 1999

Alte Börse building
Germany, after having consisted of two countries with differing political systems for decades, is reunified. In the 1990s, the worldwide stock exchange industry enjoys years of economic boom: “new economy” and “e-commerce” begin to shape the stock exchange landscape from 1995 onwards. Four years later, twelve EU countries introduce a single currency – albeit as book money at first. Thus, Deutsche Börse converts all price quotations and its systems to the euro at the beginning of 1999.

1990

  
JanuaryThe derivatives exchange DTB Deutsche Terminbörse GmbH is created at the beginning of the year. The first trading day is 26 January. Futures are now traded for the first time in Germany and the rise of one of the world’s leading derivatives exchanges begins.
AugustFrankfurter Wertpapierbörse AG is entered in the commercial register at the beginning of the month. It assumes responsibility for the Frankfurt Stock Exchange from the Frankfurt Chamber of Commerce and Industry.

1991

January

Deutscher Kassenverein introduces CASCADE, a central processing platform for German securities trading.

April

The Frankfurt Stock Exchange introduces IBIS, an integrated exchange trading and information system for the cash market. A limited number of German equities can now be traded fully electronically. Unlike modern trading systems, IBIS is a hit-and-take market. Orders are not automatically executed against each other; instead, the traders select orders available in the system.

1992

  
NovemberThe Frankfurt Stock Exchange introduces the exchange order service system BOSS, an order routing system to support floor trading. BOSS enables banks and securities trading firms to forward securities orders electronically “from the bank to the exchange” – prior to this, orders could only be transferred via open outcry.
DecemberThe Annual General Meeting held on 11 December votes to change the name of Frankfurter Wertpapierbörse AG to Deutsche Börse AG. The new company is entered in the commercial register on 16 December. The founding of Deutsche Börse AG involves the acquisition of all shares of DTB Deutsche Terminbörse AG and Deutscher Kassenverein AG.

1993

  
AugustWerner G. Seifert becomes Chairman of the Executive Board (Chief Executive Officer) of Deutsche Börse AG.
SeptemberBOSS-CUBE, a system for electronically consolidating order routing, price determination and processing, is implemented across Germany; floor trading gets full electronic support for the first time.

1996

  
JanuaryMDAX®, the index for medium-sized companies, is launched on 19 January.
MayDeutsche Börse Group goes online. Information on the company’s products and services is available on the internet for the first time.

1997

  
MarchDeutsche Börse introduces Neuer Markt, its business segment for growth shares. This market segment, which exists until March 2003, offers young, innovative companies the opportunity to raise capital via the exchange.
JuneDeutsche Wertpapier-Zentrale merges with Deutsche Börse Group’s system house, Deutsche Börse Systems AG, which was formed at the end of 1996.
OctoberAfter the merger of Auslandskassenverein and Deutscher Kassenverein in 1996, the name is changed to Deutsche Börse Clearing AG, one of the two forerunner companies to today’s Clearstream International S.A.
November

Xetra®, the fully electronic trading system for the cash market, replaces the IBIS system. The first day of operation is 28 November. The open Xetra order book can be accessed from anywhere. Floor trading continues.

Deutsche Börse Group opens its first foreign representative offices in London and Chicago.

1998

February

Four partners, Deutsche Börse, SBF – Bourse de Paris (exit 2002), the Swiss exchange Schweizer Börse (exit 2015) and Dow Jones & Company (exit 2009), introduce the new European STOXX® equity indices. Two broadly composed benchmark indices cover Europe as a whole; two more cover companies in countries that will participate in the European monetary union starting in January 1999. Two blue-chip indices with 50 shares each also cover Europe and the euro zone respectively.

April

Eurex Clearing AG is founded. The clearing house of Deutsche Börse Group will become one of the leading central counterparties (CCPs) globally. It clears transactions in both listed and off-exchange products – across derivatives and, starting in March 2003, securities. 

June

Eurex is founded. Deutsche Börse and the Swiss Stock Exchange merge the futures exchanges DTB Deutsche Terminbörse AG and Soffex to create the world’s first cross-border futures exchange. By the end of the year, the company structure has been set up and its organisation in terms of regulatory, personnel and technical aspects has been finalised. In early 2012, Deutsche Börse AG acquires all shares in Eurex.

1999

  
JuneSDAX® is introduced on 21 June. The index charts the development of companies next in line after those listed on MDAX®.
NovemberDeutsche Börse takes over operation of electronic trading on Wiener Börse AG via the Xetra® trading system.

 

Further information

1585–2010 Deutsche Börse celebrates an anniversary - a chronology of efficient markets  [PDF, 2.64 MB]

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