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Old Borse1

Forget Frankfurt, I’m moving to Basildon

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Since I first met the Deutsche Börse guys, I’ve found it challenging to work out where they are.

Y’see, last year I went to Börsenstraße in Frankfurt, as you would assume that the Borse would be in the street named after it.

Well, it used to be ...

Old Borse1

... but not anymore.

Now the Deutsche Börse is in Neue Börsenstraße, Frankfurt.

It’s a journey of only five kilometres, but it does mean that the new Börse building is not in Frankfurt itself.

Old to New Borse

Nevertheless, it’s new and modern and has a nice big foyer for hosting conference days, like the one I attended this week.

New Borse1

They moved here ten years ago, and it comprises eight five-storey buildings in the shape of a fan, providing almost 50,000m² of office space.

New Borse

Pretty darned impressive ay?

Nope.

For tax reasons, the Deutsche Börse is on the move yet again, and will switch to Eschborn a little later this year.

Eschborn?

Where’s that?

Eschborn is another hop, skip and jump from the Frankfurt-Hausen suburb, where they are now, and about 12 kilometres from the centre of Frankfurt.

Eschborn

According to the guys at the Deutsche Börse, this will save them around €50 million a year between tax savings – Frankfurt’s quite punitive tax-wise – and building rental and running costs.

Great.

The new building has 20,000 m² of office space and views of the Frankfurt skyline and the surrounding Taunus hills.

Here it is:

New Borse Eschborn1 

New Borse Eschborn 

New Borse Eschborn_a

And lots more pictures here.

Give it a few more decades and they'll be in Bonn!

The thing is that, to me, it’s like Frankfurt is no longer a financial capital if its Exchange is no longer there.

It would be like the London Stock Exchange being in Basildon, Essex, but that’s not going to happen is it?

p.s. June 21st Financial Times headline - Colt, Verizon, euNetworks picked for NYSE Basildon: NYSE Euronext are to open a new data centre in Basildon, Essex with a floor space of 315,000 square feet, or about four soccer pitches.

Basildon

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Chris M Skinner

Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...

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