Germany's Biggest Stock Exchange Goes Crypto

by Damian Chmiel
  • Deutsche Börse positions itself at the forefront of the adoption of digital assets.
  • The new DBDX exchange aims to provide crypto space for institutional investors.
Deutsche Börse

Deutsche Börse Group has taken a significant step into the realm of digital assets by introducing the Deutsche Börse Digital Exchange (DBDX), a regulated spot trading platform for cryptocurrencies tailored to institutional clients.

Deutsche Börse Unveils Regulated Crypto Trading Platform for Institutional Clients

DBDX fills a gap in the market by offering a fully regulated and secure ecosystem for trading, settlement, and custody of cryptocurrencies. It leverages the existing connectivity to market participants, providing clients with a comprehensive suite of innovative and secure financial solutions for digital assets from a single point of access across the value chain.

Initially, trading on the DBDX will take place on a Request for Quote (RfQ) basis, followed by the introduction of multilateral trading. Deutsche Börse will operate the trading venue, while Crypto Finance (Deutschland) GmbH, a crypto subsidiary of the German exchange, will provide settlement and custody services.

"Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe," said Carlo Kölzer, the Head of FX & Digital Assets at Deutsche Börse, emphasizing d the significance of the platform.

The launch of the DBDX aligns with Deutsche Börse Group's Horizon 2026 strategy, which reaffirms its objective to create a digital asset platform. Crypto Finance (Deutschland) GmbH has obtained the necessary licenses from the German regulator BaFin, including regulated digital asset trading, settlement, and custody services in Germany, paving the way for the platform's launch.

"As a well-established Swiss company with a strong commitment to regulatory compliance and delivering top-tier financial solutions, we have further strengthened our position with the introduction of Crypto Finance in Germany as the settlement agent and custodian," said Stijn Vander Straeten, the CEO of Crypto Finance.

Deutsche Börse's Trading Volume Dips to €1.2 Trillion in 2023

Germany's leading stock exchange operator released its 2023 cash market statistics, revealing a total trading volume of €1.2 trillion across its Xetra and Frankfurt Stock Exchange venues. This figure represents a decline of 21% compared to the €1.6 trillion recorded in 2022.

On a monthly basis, the total trading volume for December 2023 amounted to €97.4 billion, a drop from from €104.5 billion reported in November. However, when compared to the same period last year, there was an increase from the €92.01 billion reported in December 2022.

Despite the dip in trading volumes, Deutsche Börse reported a strong annual performance for 2022. The company saw a significant improvement of 24% in annual revenues and profits. Net revenue rose to €4,338 million, up from €3,509 million in 2021. EBITDA surged to €2,525 million from €2,043 million, while the final net income climbed to €1,563 million, a considerable escalation from the previous year's €1,264 million, marking a uniform annual growth rate of 24%.

In its most recent quarterly report for 2023, Deutsche Börse Group showcased a strong performance in the third quarter, recording an uptick of 9% in revenues to €1,188.3 million. This is an uplift from the €1,090.2 million observed in the corresponding quarter of the previous year.

Deutsche Börse Group has taken a significant step into the realm of digital assets by introducing the Deutsche Börse Digital Exchange (DBDX), a regulated spot trading platform for cryptocurrencies tailored to institutional clients.

Deutsche Börse Unveils Regulated Crypto Trading Platform for Institutional Clients

DBDX fills a gap in the market by offering a fully regulated and secure ecosystem for trading, settlement, and custody of cryptocurrencies. It leverages the existing connectivity to market participants, providing clients with a comprehensive suite of innovative and secure financial solutions for digital assets from a single point of access across the value chain.

Initially, trading on the DBDX will take place on a Request for Quote (RfQ) basis, followed by the introduction of multilateral trading. Deutsche Börse will operate the trading venue, while Crypto Finance (Deutschland) GmbH, a crypto subsidiary of the German exchange, will provide settlement and custody services.

"Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe," said Carlo Kölzer, the Head of FX & Digital Assets at Deutsche Börse, emphasizing d the significance of the platform.

The launch of the DBDX aligns with Deutsche Börse Group's Horizon 2026 strategy, which reaffirms its objective to create a digital asset platform. Crypto Finance (Deutschland) GmbH has obtained the necessary licenses from the German regulator BaFin, including regulated digital asset trading, settlement, and custody services in Germany, paving the way for the platform's launch.

"As a well-established Swiss company with a strong commitment to regulatory compliance and delivering top-tier financial solutions, we have further strengthened our position with the introduction of Crypto Finance in Germany as the settlement agent and custodian," said Stijn Vander Straeten, the CEO of Crypto Finance.

Deutsche Börse's Trading Volume Dips to €1.2 Trillion in 2023

Germany's leading stock exchange operator released its 2023 cash market statistics, revealing a total trading volume of €1.2 trillion across its Xetra and Frankfurt Stock Exchange venues. This figure represents a decline of 21% compared to the €1.6 trillion recorded in 2022.

On a monthly basis, the total trading volume for December 2023 amounted to €97.4 billion, a drop from from €104.5 billion reported in November. However, when compared to the same period last year, there was an increase from the €92.01 billion reported in December 2022.

Despite the dip in trading volumes, Deutsche Börse reported a strong annual performance for 2022. The company saw a significant improvement of 24% in annual revenues and profits. Net revenue rose to €4,338 million, up from €3,509 million in 2021. EBITDA surged to €2,525 million from €2,043 million, while the final net income climbed to €1,563 million, a considerable escalation from the previous year's €1,264 million, marking a uniform annual growth rate of 24%.

In its most recent quarterly report for 2023, Deutsche Börse Group showcased a strong performance in the third quarter, recording an uptick of 9% in revenues to €1,188.3 million. This is an uplift from the €1,090.2 million observed in the corresponding quarter of the previous year.

About the Author: Damian Chmiel
Damian Chmiel
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1369 Articles
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