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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Börse AG    DB1   DE0005810055

DEUTSCHE BÖRSE AG

(DB1)
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Real-time Estimate Quote. Real-time Estimate TRADEGATE AG - 08/03 02:48:09 pm
157.5250 EUR   +1.89%
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Britain to reopen temporary market access regime for EU financial firms

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07/02/2020 | 03:03am EDT

By Huw Jones

Britain will reopen its temporary market access regime for European Union financial firms in September to tide companies over during London's parting of ways with the bloc, the Financial Conduct Authority said on Wednesday.

Britain left the EU in January and a transition period ends in December. It has a "temporary permissions regime", or TPR, to allow EU-based firms to continue serving customers in Britain for a limited period after that so they have time to obtain authorisation under Britain's rules.

The TPR has been closed to new applications, but since then Britain has made it clear it will not apply for an extension to the transition period.

"Over 1,000 firms and over 600 fund managers have already notified us, and we will reopen the notification window on 30 September," Nausicaa Delfas, the Financial Conduct Authority's executive director for international, told a City & Financial online event.

"In short, my message to you is that we all need to continue to prepare for a range of scenarios, to be ready for the end of the year," Delfas said.

Britain and the EU have missed an end of June deadline to complete "equivalence" assessments of each other's rules to allow selective access to their respective financial markets. Each blames the other.

Antony Manchester, managing director at BlackRock, said Britain should unilaterally be open to EU financial firms in any case to help London remain a "match-fit" global financial centre that competes with New York and Singapore.

"There will be equivalence ultimately, and that is probably because the EU needs it," Manchester said, adding this would be the case for clearing euro-denominated derivatives in London in the autumn.

Delfas said allowing equivalence-based access was the best way to avoid clashes in derivatives and share trading after December.

The EU is concerned that Britain will seek a competitive advantage by easing rules inherited from the bloc. Delfas said Britain supported open markets and high regulatory standards.

(Reporting by Huw Jones, Editing by Abhinav Ramnarayan, Philippa Fletcher, William Maclean)

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. 0.34% 575.01 Delayed Quote.14.38%
DEUTSCHE BÖRSE AG 1.75% 157.25 Delayed Quote.10.31%
EURONEXT N.V. 1.19% 98.1 Real-time Quote.33.38%
LONDON STOCK EXCHANGE PLC 1.06% 8582 Delayed Quote.9.47%
TPR CO., LTD. 0.00% 1276 End-of-day quote.-40.98%
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Financials
Sales 2020 3 220 M 3 778 M 3 778 M
Net income 2020 1 162 M 1 363 M 1 363 M
Net Debt 2020 2 775 M 3 255 M 3 255 M
P/E ratio 2020 24,6x
Yield 2020 2,02%
Capitalization 28 358 M 33 548 M 33 268 M
EV / Sales 2020 9,67x
EV / Sales 2021 8,86x
Nbr of Employees 6 467
Free-Float 95,6%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 158,11 €
Last Close Price 154,60 €
Spread / Highest target 21,0%
Spread / Average Target 2,27%
Spread / Lowest Target -11,4%
EPS Revisions
Managers
NameTitle
Theodor Weimer Chief Executive Officer
Martin Jetter Chairman-Supervisory Board
Christoph Böhm Chief Operating & Information Officer
Gregor Pottmeyer Chief Financial Officer
Mareike Sich Head-Financial, Corporate & IT
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