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Börse Berlin acquires majority stake in EASDAQ NV

The Börse Berlin (Berlin Stock Exchange) has, through a capital increase, taken a majority stake in EASDAQ NV, which operates under the trading name Equiduct. The aim of this transaction is to form a partnership that is ideally placed to take advantage of the opportunities that MiFID (Markets in Financial Instruments Directive) offers. The partnership will combine the respective strengths of Börse Berlin and London-based Equiduct, in order to offer existing and future clients unrivalled access to trading in a broad category of European financial instruments. Precise details of the parties’ service offering will be released to customers and to the public in due course.

Equiduct and Börse Berlin share the conviction that the introduction of MiFID will provoke large-scale changes in European financial markets. The partners will seek to address the opportunities created by MiFID to deliver increased value to banks and investment firms, and ultimately to their professional and retail customers. Equiduct has a state-of-the-art electronic trading system with a unique market model, whilst Börse Berlin, as regulated market, currently offers its clients access to the broadest range of securities and has a wealth of experience in secondary exchange trading. Together, the partners are ideally placed to compete in the post-MiFID European financial marketplace.

“Financial market participants are facing drastic changes as a result of new MiFID requirements, which we believe will finally create a competitive level playing field for exchanges and trading facilities. In the future, customers will have the right to demand best execution from their intermediary. Best execution will require that the intermediary takes into account all execution venues, instead of just the domestic exchange. Through this partnership, we will be able to provide a uniquely suited and very cost efficient market that will allow us to carve-out a competitive position as a full-service pan-European exchange”, says Artur Fischer, Executive Director in charge of Strategy at Börse Berlin AG.

Rob Brouwer, CIO of Equiduct, adds “Over the last year we have implemented MiFID- specific requirements in close collaboration with various buy- and sell-side firms across Europe. The strategic partnership with the Berlin Stock Exchange allows us to establish a new pan-European exchange, which will enable our users to take full advantage of the new MiFID environment. Together, we look forward to our part in shaping the future of Europe’s financial markets.”