Deutsche Boerse Happy With Tradegate Unit, Seeks To Expand -Report
First Published Sunday, 29th April 2012 02:54 pm - © 2012 Dow Jones
FRANKFURT -(Dow Jones)- German stock exchange operator Deutsche Boerse AG (DB1.XE) is satisfied with the earnings and revenue development at its unit Tradegate Exchange and intends to further expand that business across Europe, weekly newspaper Euro am Sonntag reports, citing Tradegate Managing Director Jochen Thiel.
"The revenue and earnings targets of Tradegate Exchange were considerably exceeded in 2011," Thiel is quoted as saying by the Sunday newspaper.
"Deutsche Boerse is extremely satisfied with its shareholding. I cannot comprehend reports about an unsatisfactory cooperation," Thiel adds.
He also tells the newspaper that Deutsche Boerse and Tradegate Exchange seek to expand their joint offerings across Europe, with a special eye on markets such as Switzerland, Austria, France, Italy and the Benelux countries.
In 2010, Deutsche Boerse acquired a 5% stake in commercial bank Tradegate AG as well as a 75% stake in the trading platform Tradegate Exchange.
Newspaper website: www.finanzen.net
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500.