Deutsche Börse announced that it is expanding the historical building in the centre of Frankfurt – the location for the famous trading floor and the Frankfurt Chamber of Industry and Commerce are located – into an attractive contact point for the financial centre Frankfurt and the general public. The company will invest a total of €18.5 million in expanding until the start of 2020. The lease with the Frankfurt Chamber of Industry and Commerce, the owner of the building, has been agreed until 2048.
The historical building in central Frankfurt is the heart of Deutsche Börse,” said Theodor Weimer, CEO of Deutsche Börse AG. “By converting the building, we are drawing the attention for issuers, institutional investors, private investors and the public more strongly to Frankfurt. This increases the attractiveness of the financial centre and also that of Germany as an economic location.
Mathias Müller, President of the Frankfurt am Main Chamber of Industry and Commerce, said:
Frankfurt’s Börsenplatz remains the home of the Frankfurt Stock Exchange! We welcome Deutsche Börse’s plans to open its premises in the Chamber of Industry and Commerce’s building and its long-term commitment to its traditional location. The functions of the two institutions complement each other well. We will continue to shape the public character of the building together. The unique configuration of a Chamber of Industry and Commerce and a stock exchange in one building emphasises the stock exchange’s significance for the economic centre and is the foundation for Frankfurt’s expanded role as the European financial centre following Brexit.
After the renovation, the listed building, which was inaugurated in 1879, will become even more of a focal point for Deutsche Börse’s various stakeholders and will give the public an understanding around topics of exchange trading and equities culture with new, interactive exhibition opportunities.
The three core elements of the renovation are:
- the redevelopment of the visitor centre, which in the future will offer an interactive experience for a significantly higher number of visitors (currently around 35,000 per year) in a larger space;
- improved conditions for IPOs and bell ringing events, for which a new, two-storey reception area will be constructed in the rooms behind the DAX board, which can also be used for events in the financial centre;
- a public conference centre totalling 900 m2 in the space of the current bond trading floor, which will boast capacity for up to 200 people in its largest conference room. The space can be leased, for example, by listed companies for annual general meetings or press conferences.
Frankfurt Stock Exchange’s large trading floor with the DAX board, which was modernized in 2007 and decisively shapes the image of Deutsche Börse among the public, will only be marginally affected by the conversion measures.