Asia is the place where the German exchange operator Deutsche Börse will grow more than in any other location, according to Reto Francioni, Frankfurt-based chief executive officer of Deutsche Börse AG.
“We will grow above all in Asia,” he said during a speech on Monday evening at a reception held for the German group.
Pointing out that competition is no longer primarily about Europe or the US, Francioni observed. “It’s about Asia as well. Asia is where the strong new competitors are located. Asia is also where the new really dynamic markets are located, which are creating prosperity for their countries.”
During 2013, the firm agreed an alliance with the Bank of China. In December, the pair signed a memorandum of understanding to initiate a strategic cooperation. The two agreed to explore potential areas of co-operation in China and the European Union and said they planned to promote the development of the offshore renminbi market in Europe. In 2013, Deutsche Börse also concluded an agreement with the Korean Stock Exchange.
“The Bombay Stock Exchange now uses our trading technology and we have made great strides in derivatives in Singapore,” he said. “At the beginning of this year we invested in the Taiwan futures exchange.”
Francioli added that Frankfurt would only succeed as a European centre for China-themed financial market activities providing that important institutions, policymakers and the financial centre in Germany all worked together closely towards that end.