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Nasdaq taking on Germany

12 April 2012

NASDAQ, the hi-tech American stock market, is taking on Frankfurt's mighty Deutsche Bourse in its own backyard, announcing the launch of Nasdaq Deutschland with the backing of two large German banks.

The new market, which will launch at the start of next year, aims to offer trading in up to 3,000 German and international shares starting with blue-chip stocks selected from the Dax 100, Nemax 50, Nasdaq 100, Eurostoxx 50 and Dow 30.

The move is the American exchange's most concentrated attack on one European market. It is reportedly still talking to the London Stock Exchange about a possible takeover or merger.

Nasdaq Deutschland will be 50%-owned by Nasdaq. Dresdner Bank and Commerzbank, with its online brokerage Comdirect, will each own 15% stakes. The Berlin and Bremen stock exchanges, which will be merged, will each own 10%. The new exchange will use a version of Nasdaq's new trading platform SuperMontage.

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Commerzbank AG
Dresdner Bank AG
Nasdaq