Germany’s
leading stock exchange operator, Deutsche Börse, has successfully launched its regulated crypto spot trading platform, DBDX. This marks a significant milestone in
the growing institutional adoption of digital assets.
The
platform has already facilitated its first transactions, with ICF Bank and
Bankhaus Metzler trading and settling the cryptocurrency Ethereum against euros.
Initially,
DBDX will offer trading in Bitcoin and Ethereum on a request-for-quote (RFQ)
basis, with multilateral trading to follow.
“We have
processed the first cryptocurrency trades on the T7 trading architecture of
Deutsche Börse Digital Exchange DBDX and custody infrastructure of Crypto
Finance,” said Dr. Carsten Rössner, Chief Operations and IT Officer at
ICF BANK.
In a statement, Deutsche Börse CEO Theodor Weimer said:
“The successful launch of DBDX is a major milestone in our journey to provide institutional investors with a secure and regulated platform to trade cryptocurrencies….
— Melboor Labs (@melboorcoin) March 12, 2024
However,
this is not Deutsche Börse’s first contact with cryptocurrencies . Four years ago, the company launched Bitcoin-backed ETPs on its electronic trading platform Xetra. Today’s launch also confirms the information reported by Finance Magnates last week that the exchange operator is preparing to launch
its own crypto platform.
“We
are seeing an increasing institutional adoption of blockchain technology in the
financial sector,” Mario Mattera, the Member of the Executive Board of
Metzler Bank, added.
There are already quite a few cryptocurrency exchange-traded instruments in Europe. Still, they have not enjoyed the same popularity as the Bitcoin ETFs introduced in the United States two months ago. The new DBDX platform aims to change the perspective of major players on cryptocurrency assets and popularize them in the Old Continent as well.
Regulated Crypto Ecosystem
in Europe
DBDX aims
to provide a fully regulated and secure ecosystem for trading, settlement, and
custody of crypto assets from a single access point.
While Deutsche Börse operates the trading
venue, its subsidiary Crypto Finance provides 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.
The launch
of DBDX aligns with Deutsche Börse’s Horizon 2026 strategy to play a leading
role in the digital asset ecosystem.
Trading Activity Declined
at Deutsche Börse in 2023
While Germany’s
leading stock exchange operator is improving in the crypto space, it has
reported a decrease in trading volumes across its cash markets for the year
2023. According to the company’s recently released statistics, the total
trading turnover on the Xetra and Frankfurt Stock Exchange platforms amounted
to €1.2 trillion, reflecting a 21% drop compared to the €1.6 trillion recorded
in 2022.
The monthly
trading figures for December 2023 painted a mixed picture. While the total
trading volume of €97.4 billion marked a decline from the €104.5 billion
reported in November, it represented an improvement over the €92.01 billion
recorded in December 2022.
Despite the
dip in trading activity, Deutsche Börse had a strong financial performance in
the previous year. The company’s 2022 annual report highlighted a 24% increase
in both revenue and profits. Net revenue climbed to €4,338 million, up from
€3,509 million in 2021, while EBITDA surged to €2,525 million from €2,043
million.
In its most
recent quarterly report for Q3 2023, Deutsche Börse Group demonstrated
resilience, with revenues rising by 9% to €1,188.3 million compared to €1,090.2
million in the same quarter of the previous year
Germany’s
leading stock exchange operator, Deutsche Börse, has successfully launched its regulated crypto spot trading platform, DBDX. This marks a significant milestone in
the growing institutional adoption of digital assets.
The
platform has already facilitated its first transactions, with ICF Bank and
Bankhaus Metzler trading and settling the cryptocurrency Ethereum against euros.
Initially,
DBDX will offer trading in Bitcoin and Ethereum on a request-for-quote (RFQ)
basis, with multilateral trading to follow.
“We have
processed the first cryptocurrency trades on the T7 trading architecture of
Deutsche Börse Digital Exchange DBDX and custody infrastructure of Crypto
Finance,” said Dr. Carsten Rössner, Chief Operations and IT Officer at
ICF BANK.
In a statement, Deutsche Börse CEO Theodor Weimer said:
“The successful launch of DBDX is a major milestone in our journey to provide institutional investors with a secure and regulated platform to trade cryptocurrencies….
— Melboor Labs (@melboorcoin) March 12, 2024
However,
this is not Deutsche Börse’s first contact with cryptocurrencies . Four years ago, the company launched Bitcoin-backed ETPs on its electronic trading platform Xetra. Today’s launch also confirms the information reported by Finance Magnates last week that the exchange operator is preparing to launch
its own crypto platform.
“We
are seeing an increasing institutional adoption of blockchain technology in the
financial sector,” Mario Mattera, the Member of the Executive Board of
Metzler Bank, added.
There are already quite a few cryptocurrency exchange-traded instruments in Europe. Still, they have not enjoyed the same popularity as the Bitcoin ETFs introduced in the United States two months ago. The new DBDX platform aims to change the perspective of major players on cryptocurrency assets and popularize them in the Old Continent as well.
Regulated Crypto Ecosystem
in Europe
DBDX aims
to provide a fully regulated and secure ecosystem for trading, settlement, and
custody of crypto assets from a single access point.
While Deutsche Börse operates the trading
venue, its subsidiary Crypto Finance provides 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.
The launch
of DBDX aligns with Deutsche Börse’s Horizon 2026 strategy to play a leading
role in the digital asset ecosystem.
Trading Activity Declined
at Deutsche Börse in 2023
While Germany’s
leading stock exchange operator is improving in the crypto space, it has
reported a decrease in trading volumes across its cash markets for the year
2023. According to the company’s recently released statistics, the total
trading turnover on the Xetra and Frankfurt Stock Exchange platforms amounted
to €1.2 trillion, reflecting a 21% drop compared to the €1.6 trillion recorded
in 2022.
The monthly
trading figures for December 2023 painted a mixed picture. While the total
trading volume of €97.4 billion marked a decline from the €104.5 billion
reported in November, it represented an improvement over the €92.01 billion
recorded in December 2022.
Despite the
dip in trading activity, Deutsche Börse had a strong financial performance in
the previous year. The company’s 2022 annual report highlighted a 24% increase
in both revenue and profits. Net revenue climbed to €4,338 million, up from
€3,509 million in 2021, while EBITDA surged to €2,525 million from €2,043
million.
In its most
recent quarterly report for Q3 2023, Deutsche Börse Group demonstrated
resilience, with revenues rising by 9% to €1,188.3 million compared to €1,090.2
million in the same quarter of the previous year
