Securities trading - Germany

05.08.2010

Key market-tradable securities

Denomination currencyMaturity
profile
Interest
rate
Interest/Dividend
payment frequency
Place of settlementForm
Agency bonds

Deutsche Bundesbahn

EUR

Usually
10 years

Fixed

Annual

CEU

Dematerialised

Deutsche Bundespost

EUR

Usually
10 years

Fixed

Annual

CEU

Dematerialised / physical

Fonds Deutsche Einheit

EUR

Usually
10 years

Fixed

Annual

CEU

Permanent global

Communal bonds

EUR

Usually
10 years

Fixed

Annual

CEU

Physical or permanent global

Corporate debt

Commercial Paper

EUR

7 days to
< 2 years
Discount
to yield

-

CEU

Permanent global

Corporate Bonds

EUR

Varies

Varies

Varies

CEU

Physical or permanent global / bearer

Mortgage Bonds (Pfandbriefe)

EUR

3 to 10 years

Fixed

Annual

CEU

Physical or permanent global / bearer

DEM or EUR global bonds

DEM/EUR

Varies

Varies

Varies

CEU

Physical or permanent global / bearer

Foreign bonds

Varies

Varies

Varies

Varies

CEU

Varies

Government bonds (Bundesanleihen)

EUR

Usually
10 years

Fixed

Annual

CEU

Dematerialised

Government notes

Unverzinsliche Schatzanweisungen

DEM/EUR

6 months
to 2 years
Discount
to yield

-

CEU

Dematerialised

Bundesschatzanweisungen

DEM/EUR

2 to 5
years

Fixed or floating

Varies

CEU

Dematerialised

Kassenobligationen

DEM/EUR

Up to 6 years

Fixed

Annual

CEU

Dematerialised

Registered shares

EUR

-

-

-

CEU

Dematerialised / registered

Equities

EUR

-

-

-

CEU

Physical / bearer

Warrants

EUR

-

-

-

CEU

Physical / bearer

Trading platforms and markets

Xetra

Fully electronic cash market trading system

Eurex

Trading platform for futures and options:

EuroMTS

Trading platform for European government and benchmark bonds

MTS Deutschland

Trading platform for German government and benchmark bonds

MTS Italy

Trading platform for European government and benchmark bonds

LCH Clearnet

Central counterparty (CCP) for various stock exchanges