Excellent creditworthiness at Deutsche Börse Commodities
News (Advertising) 28.03.2012
Independent rating agency Hoppenstedt awards a 1.7
Deutsche Börse Commodities: The independent rating agency Hoppenstedt gave Deutsche Börse Commodities GmbH a rating of “excellent creditworthiness”. The rating agency awarded the company a score of 1.7 points on a scale of 1 to 6. The score reflects factors such as equity ratio, debt structure and operating margin.
“We are pleased to be awarded this score by an independent rating agency and feel this confirms our excellent business model,” said Martina Gruber, managing director at Deutsche Börse Commodities GmbH. “The joint venture Deutsche Börse Commodities is owned by seven strong partners, including Deutsche Börse. Xetra Gold, the bearer bond physically backed 100% by gold, is our sole business objective, meaning investors will hardly find more security anywhere.”
56.2 tonnes of gold valuing around €2.2 billion are currently stored in the German central vault for securities.
The Xetra-Gold bond (ISIN: DE000A0S9GB0) combines the advantages of physical gold with the transparency and low costs of exchange-trading of securities. There is no ongoing management fee. Each bond represents the option of delivery of one gram of gold and can be bought or sold continuously via the Xetra trading platform. Clearstream Banking Frankfurt (CBF), a Deutsche Börse subsidiary, stores the gold in its vault. The physical gold is supplied, monitored and processed by industry partner Umicore AG & Co. KG. The safe custody of the gold reserves at Clearstream meets high security standards and saves investors the costs of transporting and physically storing the gold. Private investors can obtain the underlying gold in physical form from their bank if desired. The physically backed debt instrument Xetra Gold was admitted for trading in December 2007 and has since become the commodity with the highest turnover of all ETCs listed on the Frankfurt Stock Exchange. The product meets the provisions of the European UCITS directive. www.deutsche-boerse.com/xetragold
About Deutsche Börse Commodities GmbH
The issuer Deutsche Börse Commodities GmbH, based in Frankfurt, is a joint venture between Deutsche Börse AG and the banking partners Commerzbank AG, Deutsche Bank AG, DZ Bank AG, B. Metzler seel. Sohn & Co. KGaA, and Swiss-based bank Vontobel. Umicore AG & Co. KG, a Group subsidiary of Umicore s.a. which operates several gold refineries across the globe and manufactures gold bars, is also a partner. The partners bundle their stock exchange, financial market, settlement, custody and logistics expertise and provide an efficient and transparent market in the financial centre of Frankfurt for gold trading in Europe. With just one product, Deutsche Börse Commodities GmbH is the second largest issuer of ETCs/commodity certificates traded on stock exchanges in Germany.
Xetra® and Xetra Gold® are registered trademarks of Deutsche Börse AG.