The Berlin Stock Exchange (XBER): An Overview

The Berlin Stock Exchange (XBER), also known as the Börse Berlin, is one of the oldest stock exchanges in Germany, founded in 1685. It operates two trading systems, Xontro and Equiduct.

International investors use the XBER to trade in stocks, bonds, certificates, warrants, public funds, exchange-traded funds (ETFs), and exchange-traded commodities (ETCs).

Trading starts at 8 a.m. and operates until 8 p.m. Berlin time.

Trades are conducted in euros.

The Berlin Stock Exchange in Depth

The Berlin Stock Exchange has strong international leanings and claims to list the stocks of 15,000 companies from 82 nations. Most NASDAQ stocks are listed on XBER, as are major companies based in China and South Africa. Mutual funds and exchange-traded funds (ETFs) are traded as well. 

In addition to stock shares, the exchange lists foreign and domestic bonds. It is the only exchange listing some bonds issued by the German Federation and its constituencies.

Key Takeaways

  • The Berlin Stock Exchange, or Börse Berlin, is one of Germany's oldest markets, founded in 1685.
  • Many international equities, as well as German stocks and bonds, are bought and sold at Börse Berlin.
  • Trading is in euros.

The Berlin Stock Exchange operates two distinct marketplaces, one traditional and the second electronic:

  • Xontro is the trading and settlement system for XBER and all other floor exchanges in Germany. It is the traditional trading system for the Berlin Exchange.
  • ETS, operating under the brand name Equidict Systems Ltd., is the electronic trading platform and is responsible for XBER operations, maintenance, and future development of the exchange's trading system.

Notable Dates in XBER History

Dating from the 17th century, the German Stock Exchange was one of the world's most important stock exchanges, along with those in London and New York. Trading was halted throughout World War I. The stock exchange building was destroyed during World War II. A new headquarters for the exchange opened in 1955.

Today's exchange has global ambitions, with stocks and bonds from many nations attracting an international investing clientele.

1685: XBER is founded through an edict of Friedrich Wilhelm, Elector of Brandenburg, as a place for the city's guilds of chandlers and dressmakers to do business.

1739: The first formal trading session takes place. 

1840: Railway shares are quoted for the first time. Banking and mining stocks follow over the next eight years. The onset of the Industrial Age has super-charged the German economy.

May 13, 1927

The date of the German Stock Exchange's "Black Friday."

1912: A metal exchange is added for trading in copper, zinc, lead, aluminum, and antimony.

1916-1918: The exchange is halted due to World War I.

1927: On May 13, the stock market collapses. The nation's enormous trade imbalance and economic policy missteps are largely blamed. The event will go down in history as Germany's Black Friday.

1931: Trading continues through the early years of the Great Depression, although a banking crisis forces two shutdowns lasting several months during the year.

1933-1945: With the Nazis firmly in power in Germany, various government interventions cripple the operation of the stock exchange. Jewish traders are banned. Share prices are fixed by government fiat. The exchange limps on through the war, until 1945.

1945: The exchange building is destroyed by the Allied bombing on Feb. 3, 1945.

1950: Trading resumes in temporary quarters.

1955: A new exchange building is dedicated.

1974: The exchange is enhanced with new computer technology. Transactions begin to be processed electronically and then, in the early 1980s, digitally.

1987: The Regulated Market and the Open Market are established as separate market segments. This eases restrictions on participation in the exchange.

1992: XBER begins to use the Xontro trading system. 

1996: A new exchange building is opened on Berlin's Fasanenstrasse.

1997: XBER establishes its internet presence.

2009: The Equiduct system is launched.