Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Commerzbank AG
  6. News
  7. Summary
    CBK   DE000CBK1001

COMMERZBANK AG

(CBK)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 07/28 02:14:58 pm
5.378 EUR   +0.04%
07/27COMMERZBANK AG : Goldman Sachs sticks Neutral
MD
07/26COMMERZBANK AG : JP Morgan remains Neutral
MD
07/26COMMERZBANK AG : RBC sticks Neutral
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Commerzbank demonstrates first German corporate FX deal on blockchain

05/24/2018 | 06:40am EDT
FILE PHOTO -  Pens with Commerzbank logo are pictured at the bank's annual news conference in Frankfurt

BERLIN (Reuters) - Commerzbank and Thyssenkrupp have replicated a foreign exchange transaction using blockchain, the first such deal involving a large German company which proponents say could make doing business cheaper and quicker.

The use of blockchain, a transaction ledger that underpins virtual currency bitcoin, could help reduce delays and manual errors, Commerzbank said on Thursday.

It will eliminate the need for transaction reconciliation, because the transaction is stored as a single immutable record.

Reconciliation is a major issue for banks when trading forex, Commerzbank manager Nikolaus Giesbert said.

"Significant resources are dedicated to resolving the issues that occur during the matching process. This deal demonstrates how the use of distributed ledger (blockchain) can transform and digitalise the processes in this space," he said in a statement.

The EUR/PLN FX Forward deal, which amounted to 500,000 euros with a one month tenor, was initiated by Thyssenkrupp on Wednesday using Commerzbank's FX Live Trader platform.

The deal confirmation was sent to Thyssenkrupp directly via CORDA, a distributed ledger designed for finance by the R3 blockchain consortium.

However, Commerzbank said in order for the full efficiency benefits of using blockchain to be realised, technical, regulatory and legal requirements need to be further developed.

(Reporting by Victoria Bryan; Editing by Mark Potter)


ę Reuters 2018
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO 1.05% 33417.33 Real-time Quote.39.89%
BITCOIN - UNITED STATES DOLLAR 0.94% 39410.28 Real-time Quote.35.09%
COMMERZBANK AG -0.35% 5.357 Delayed Quote.2.09%
EURO / POLISH ZLOTY NEW (EUR/PLN) 0.03% 4.595 Delayed Quote.0.84%
SPACE CO.,LTD. -0.43% 925 End-of-day quote.17.24%
THYSSENKRUPP AG 1.72% 8.522 Delayed Quote.3.13%
All news about COMMERZBANK AG
07/27COMMERZBANK AG : Goldman Sachs sticks Neutral
MD
07/26COMMERZBANK AG : JP Morgan remains Neutral
MD
07/26COMMERZBANK AG : RBC sticks Neutral
MD
07/26COMMERZBANK AG : UBS gives a Sell rating
MD
07/26COMMERZBANK AG : Barclays reaffirms its Sell rating
MD
07/23DGAP-PVR : Commerzbank Aktiengesellschaft: Release -4-
DJ
07/23DGAP-PVR : Commerzbank Aktiengesellschaft: Release -3-
DJ
07/23DGAP-PVR : Commerzbank Aktiengesellschaft: Release -2-
DJ
07/23DGAP-PVR : Commerzbank Aktiengesellschaft: Release according to Article 40, Sect..
DJ
07/22COMMERZBANK : to stop outsourcing securities settlement to HSBC
RE
More news
Financials
Sales 2021 8 389 M 9 905 M 9 905 M
Net income 2021 -338 M -399 M -399 M
Net Debt 2021 - - -
P/E ratio 2021 -20,4x
Yield 2021 0,16%
Capitalization 6 733 M 7 967 M 7 949 M
Capi. / Sales 2021 0,80x
Capi. / Sales 2022 0,81x
Nbr of Employees 38 823
Free-Float 84,4%
Chart COMMERZBANK AG
Duration : Period :
Commerzbank AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COMMERZBANK AG
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 22
Last Close Price 5,38 €
Average target price 6,10 €
Spread / Average Target 13,5%
EPS Revisions
Managers and Directors
Manfred Knof Chief Executive Officer
Bettina Orlopp Deputy Chairman-Supervisory Board & CFO
Helmut Gottschalk Chairman-Supervisory Board
Dennis Bartel Head-Human Resources & Technology
Bernd Reh Head-Research & Press Contact
Sector and Competitors