Banking and Insurance Centers in Germany
Financial Industry in Germany | © der Finanzplatz Stuttgart in Baden-Württemberg, Deutschland und Europa 2017
Of global importance here are the cities of Frankfurt, as one of the most important financial centers in the world, and Munich as an important insurance and reinsurance location.
Both cities, together with Berlin and Cologne, are also designated digital hubs for FinTech and InsurTech companies respectively.
There are a number of different stock exchanges with different focal points in Germany. The Frankfurt Stock Exchange is the most important stock exchange location in Germany and also the home of the Deutsche Börse Group. The Deutsche Börse Group is active internationally, with operatios in Luxembourg, Prague, London, Zurich, Moscow, New York, Chicago, Hong Kong, Singapore, Beijing, and Tokyo.
In Frankfurt, Deutsche Börse operates the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse FWB®), one of the world’s largest trading centers for securities and an international trading center. Of the approximately 200 market participants, roughly half are from countries other than Germany. Besides the specialist trading at Frankfurt Stock Exchange, its fully electronic trading system Xetra® is one of the leading electronic trading platforms in the world. With a share in turnover of around 90 per cent, the Frankfurt Stock Exchange is the largest of Germany’s seven stock exchanges.
Frankfurt is domicile for the euro clearing for banks from non-Euro countries. The Eurex is the leading derivatives market in Europe and Eurex Clearing serves more than 175 clearing members in 17 countries and administers a collateral pool accounting for around EUR 50 billion. The central securities depositor Clearstream covers more than 50 markets worldwide with its international net of depositaries and processes more than 10 million transactions in more than 850,000 securities each month. Shares, bonds and fund units worth more than EUR 13 trillion are in custody.
Frankfurt is also domicile in the EU for renminbi clearing.
The other stock exchanges in Germany are situated in Berlin Dusseldorf Hamburg Hanover Leipzig Munich and Stuttgart.