After a gap of two years, we are particularly pleased to finally be able to hold our 18th Annual Conference of the Munich Finance Forum in person again this autumn. On September 14th, about 400 guests from the financial sector will congregate to network and exchange information. This year, the association will once again present top-class speakers such as Dr. Jens Ehrhardt from DJE or Klaus Wiener Member of the German Bundestag to address and discuss exciting current topics and questions from business, politics and the world of finance.
Your chance to participate in discussions on the latest developments and perspectives from esteemed guests and to engage in live discussions with eminent speakers and the financial community.

DKF goes Oktoberfest: This year the DKF Oktoberfest will be held for the first time on September 22nd, 2022. About 200 handpicked guests from the financial industry will come together for a special kind of networking. In a typical Bavarian atmosphere inside the Schützen Festzelt tents on the Theresienwiese, interesting topics from the areas of ESG, funds, market data, energy and geopolitics, digital assets, and many more will be intensively discussed at the various topic tables with selected table captains. We look forward to this special networking event.

The 11th DKF Congress on Financial Information was held as an online event from May 4-6. Over 1300 visitors saw 50 presentations and panel discussions on current topics in the financial information industry. In addition, there was a virtual trade show event with over 30 vendors, each of whom was able to showcase their products at a virtual booth.

Originally, the event was established for the German-speaking region. It grew to become the largest financial information congress in the world with 1000 visitors. The event ban during Corona was an opportunity for us because we could also welcome guests from Asia and America at the digital format.

Among other things, the strategy of the London Stock Exchange in the acquisition of Refinitiv was presented. Several presentations were dedicated to the topic of sustainability. The so-called ESG (Economic, Social, Governmental) data is a great impetus for providers because the entire financial industry is strongly aligned with it.

We would like to thank all sponsors and guests and are already looking forward to next year, where we will hopefully meet again in person. However, we will keep the digital format and thus continue to grow the community.

The former wealth management applications Thomson Reuters Knowledge Direct Professional (TRKD Pro) and Thomson Reuters Wealth Manager Germany (TRWMG) are now Refinitiv Market Monitor.

Refinitiv Market Monitor is completely redesigned and the user can decide between two skins: a sophisticated dark skin and a fresh looking white skin.

The application can be accessed via the URL https://marketmonitor.refinitiv.com.

On Monday the Dow Jones Index lost almost 3000 points (- 13%), the largest absolute loss in history since 1871. The fear of the spread of the coronavirus is the biggest shock to the economy in peacetime. What does the situation mean for our customers and our employees?

Access to our systems is extremely high at the moment, as is trading volume on the stock exchanges. Accordingly, there are many more updates than in normal times. In these extreme times it is very important that our customers receive new prices, analyses and news. In times of great stress for our users we want to be a reliable partner who supports them in the best possible way.

In addition to the technical challenges, there is currently a great deal of uncertainty for the entire economy. Global supply chains are interrupted and companies are getting into difficulties. Thanks to our excellent customers and recurring revenues, we are in a very robust position. We have no debts and have always built our business in a very sustainable way. That is why we are a reliable partner and will always give the best for our customers.

All our employees already work from home. There is no danger of all employees being infected with the coronavirus at the same time. We wish you and your families health and confidence!

From 9 to 13 January, we sent a New Year’s survey on capital market expectations in 2020 to finance professionals who are on the distribution list of our events at MehrWertpapiere.de. As of the reporting date, 846 participants have cast their votes, which is why significant statements are already available. We are very proud that 24.9% of the recipients decided to participate in the study. This speaks for great interest. At this point, we would like to thank each and every participant!

Unfortunately the results are only available in German, however most results are self-explanatory.

Question 1: Which asset class is your favorite?

At 58%, equities are in first place among the majority of participants, followed by real estate with just under 12%. In times of zero interest rates, no further price potential is seen for bonds, which would only be realised if interest rates were to become even more negative. This means that tangible assets are still the most in demand. This is also in line with the portfolio breakdown that we determined in the next question.

Question 2: How is your portfolio divided?

At just under 44%, equities are the most important component in the private portfolios of finance professionals. In my view, this is particularly remarkable because the financial sector often holds much lower equity quotas for its clients for regulatory reasons. In the survey of institutional investors on investment behaviour in 2018 conducted by the Scope analysis company, institutional investors accounted for only 5% of equities. Real estate followed in second place with 21% portfolio share. The financial professionals therefore prefer tangible assets themselves. Interestingly, Bitcoins have a share of 1.2%. However, only 76 of 846 participants have Bitcoins in their portfolio. Among these investors the Bitcoin share is 13.2%.

Question 3: What do you think will be the winning region in 2020?

Question 4: Which industrial sector is your favourite for 2020?

Question 5: Top share – Which DAX stock will win in 2020?

Question 6: Flop stock – Which DAX stock will lose in 2020?

With the exception of Fresenius, every DAX share is on both the top and the flop list. In terms of net positions, SAP is in first place (Top 115, Flop 2). Wirecard follows (Top: 167, Flop: 107) ahead of Fresenius Medical Care (Top: 45, Flop: 1). Deutsche Bank (Top: 39, Flop: 214) is at the bottom of the list, ahead of Lufthansa (Top: 5, Flop: 61) and Volkswagen (Top: 14, Flop: 63).

Question 7: Where does the DAX stand on 31.12.2020?

On average, the survey participants expect a DAX price of 13,786 at the end of 2020, which is a moderate increase of 2.7% compared to the closing price of 2019. After the large gains in equities last year, many investors are obviously more cautious. It seems somewhat incomprehensible why 58% of those surveyed see shares as the best asset class and then estimate only this value for the DAX.

Question 8: Where does the Bitcoin in USD stand on 31.12.2020?

The survey participants expect an average Bitcoin price of USD 7,817 at the end of 2020, an increase of 8.5% compared to 2019. Although on average Bitcoins have a higher return expectation than equities, equities dominate the question of the best asset class with 58%. Perhaps this inconsistency can be explained by looking more closely at the data. If you differentiate the question and look only at the 76 investors who actually have Bitcoins in their portfolio, you will find a much higher expectation. On average, a Bitcoin price of USD 13,779 is expected in this target group (+76%). Perhaps the strong return expectations of Bitcoin fans thus distort the overall picture.

Question 9: Do you personally see opportunities or risks in the following megatrends?

Participants see the greatest opportunities for themselves personally in the area of health and nutrition, just ahead of the topic of digitisation and employment. I find it remarkable that there is obviously no fear of robots or disintermediation in the financial sector. Almost equally important are the individualisation of consumption, mobility and transport and also equal rights for women. We are very pleased that equal rights for women are seen as an opportunity in the financial sector, where one woman is confronted with 17 men in the executive suite. The greatest risks are seen in the area of wealth inequality. According to this, people are very concerned about the shift of the world order to Asia and global security.

Question 10: What probability do you give the following events in 2020?

With an average of 83%, Brexit is most strongly expected by the capital market. First of all, the re-election of Donald Trump is expected immediately afterwards, with an average of 66%. The US stock market has risen by almost +60% since his election in 2016, which is perhaps why financial professionals are thinking particularly positively here. Negative interest rates of 64% are expected for German savers. At 15%, the ECB’s issuing of helicopter money to citizens seems particularly unlikely today, followed by the bankruptcy of a major German bank (22%). A trend reversal on the real estate market is also rather unlikely from the participants’ point of view, at 25% on average.

The end of the year brings no greater joy than the opportunity to express to you season’s greetings and good wishes. May your holidays and New Year be filled with joy.

Heute vor genau 20 Jahren wurde financial.com gegründet.

Damals konnten mündige Privatanleger erstmals Optionsscheine an der Börse handeln. Allerdings gab es keine ausreichenden Informationen zu den Optionskennzahlen. Es gab nämlich nur ein monatliches Printmagazin, das jedoch bereits beim Druck veraltet war. Unser werbefinanzierter Optionsscheinrechner unter www.optionsscheine.de war deswegen eine sehr erfolgreiche Nische in der Welt der Börseninformationen.

Schnell wollten wir ein internationales Finanzportal für alle Assetklassen unter www.financial.com errichten. Die Kosten für die internationalen Marktdaten überstiegen schnell unser Budget, weswegen wir uns entschlossen, Tools für die Anzeige von Marktdaten für große Banken zu entwickeln. Im April 2000 begannen wir, Applikationen für die Kunden unseres ehemaligen Datenlieferanten Reuters zu entwickeln und zu betreiben. Dies war der Beginn einer sehr erfolgreichen Partnerschaft mit Refinitiv, der Neugründung von Thomson Reuters Financial & Risk. In den letzten 20 Jahren haben wir gemeinsam mehr als 150 Projekte durchgeführt. Über den weltweiten Vertrieb von Refinitiv haben wir gemeinsam Kunden in 34 Ländern gewonnen. Meistens handelt es sich bei den Firmen um die Top 3 Institute im jeweiligen Land.

In den zurückliegenden zwei Jahrzehnten sind wir kontinuierlich gewachsen. Unser Unternehmen umfasst heute 120 Mitarbeitern an fünf Standorten und in drei Ländern: München, Frankfurt, Aschaffenburg, Toronto (Kanada) und Kochi (Indien). Unser Geschäft basiert auf langfristigen Lieferbeziehungen. Deswegen ist ein gegenseitiges Vertrauen die Grundlage von allem.

Wir bedanken uns bei allen Kunden, Mitarbeitern und Partnern für ihr Vertrauen in uns und möchten an dieser Stelle das Versprechen erneuern, dass wir weiterhin nachhaltig wachsen und ein verlässlicher Partner sein werden.


Exactly 20 years ago today financial.com was founded.

At that time, responsible private investors were able to trade warrants on the stock exchange for the first time. However, there was not enough information on the option ratios. There was only one monthly print magazine, but it was already outdated at the time of printing. Our advertising-financed warrant calculator at www.optionsscheine.de was therefore a very successful niche in the world of stock market information.

We quickly wanted to set up an international financial portal for all asset classes at www.financial.com. However, the cost for international market data quickly exceeded our budget, which is why we decided to develop tools for displaying market data for large banks. In April 2000, we began developing and operating applications for the customers of our former data provider Reuters. This was the beginning of a very successful partnership with Refinitiv, the newly founded Thomson Reuters Financial & Risk. Over the past 20 years, we have worked together on more than 150 projects. Through the worldwide distribution of Refinitiv, we have jointly gained customers in 34 countries. Most of the companies are the top 3 institutions in their respective countries.

We have grown continuously over the past two decades. Today, our company has 120 employees at five locations and in three countries: Munich, Frankfurt, Aschaffenburg, Toronto (Canada) and Kochi (India). Our business is based on long-term supply relationships. That is why mutual trust is the foundation of everything we do.

We would like to thank all our customers, employees and partners for their trust in us and would like to take this opportunity to renew our promise that we will continue to grow sustainably and be a reliable partner.

    On May 7th, 2019 the 9th D-A-CH Congress for Financial Information took place at the Sofitel Munich Bayerpost. The topic of the conference was “Accelerating growth through innovative technology. How to successfully implement the newest fintech solutions”. With 916 visitors, 62 exhibitors, 29 lectures and 3 panel discussions, the event was once again the largest meeting place for the financial information industry worldwide. With more than a dozen visitors from New York and almost 80 guests from London, the event has now attracted the attention of the major financial centers. The longest journey was made by a participant of the Bombay Stock Exchange from Mumbai.

    The keynote speech was given by Ben Shepherd, Chief Strategy & Proposition Officer of Refinitiv. Founded in October 2018 under the leadership of Blackstone, the company includes the former Financial & Risk business of Thomson Reuters. As the world’s largest leverage buyout transaction since the financial crisis, Refinitiv per se is the focus of interest.

    The first panel discussion focused on Fintech. New technologies such as Blockchain, AI or Openlaw enable new services with high added value. These services are often integrated into other platforms via APIs. Instead of competitive relationships, there is an increasing number of cooperations.

    The second discussion on the topic “Content is king, but what is the price of a data monarchy” dealt with the question of why supposedly simple market data is excessively expensive from the customer’s point of view. It was shown that a large part of vendors’ performance concerns harmonization and permissioning (Vendor of Record), which is often not visible from the customer’s point of view.

    Finally, the third panel discussion gave an outlook on the capital markets from an investor’s perspective. Currently, the markets have been in the longest upswing in history for more than 10 years. It was shown that this is the logical consequence of the central bank interventions after the financial crisis. Fundamentally, the economy is also in very good shape. Unemployment in the USA is at a 50 year low. In this respect, the outlook among the participants was also very positive.

    For the first time there was also a special format “Women in Finance”, where women could exchange experiences with each other. More than 40 women discussed which factors are necessary to improve working conditions and women’s chances of success in the financial sector.

    In addition, 28 lectures were held in 4 subject areas: (1) Market Data Products and Solutions, (2) Reference Data Management and Feeds, (3) Investment and Portfolio Management Trends and (4) Fintech Offerings and Technological Developments.

    The presentation slides are available for download for participants of the congress in the shop of mehrwertpapiere.de.

    The 10th D-A-CH Congress for Financial Information will take place next year on May 14th.

    The Crypto Assets Conference at the Frankfurt School of Finance and Management on February 25th and 26th 2019 brought together internationally leading experts from the areas of blockchain, crypto currencies and finance. financial.com was co-organizer of the conference – in cooperation with the Frankfurt School Blockchain Center and the KI Group.

    Where last year there was still the conviction that the old financial world had had its day, the focus is now on regulation and cooperation.

    This year’s conference also focused on financial market aspects of blockchain technology, future prospects in Germany and Europe, and the impact of Security Token Offerings (STOs) and Initial Coin Offerings (ICOs) on traditional IPOs. Although the market capitalization of the 2,000 existing crypto currencies has collapsed from 800 billion to 130 billion, this has led to a certain cleaning up of the industry, in which black sheep are deprived of the business model and new opportunities are created for projects that cooperate with supervision. The Bitcoin Bank Bitwala in Berlin, for example, has already successfully demonstrated this.

    The new stars of the conference in 2019 are above all the companies that cooperate with supervision, such as the start-up Bitbond, which arranges loans to the self-employed worldwide. Bitbond CEO Radoslav Albrecht was the first to obtain permission from the Bafin to transfer a classic registered bond to the Blockchain. The opposite side, which takes a critical view of the new trend towards regulation, was represented at the Crypto Assets Conference by Austin Alexander of the US platform Kraken. He walked around the conference wearing a Bitcoin flag over his shoulders like a cape and warned that central banks and supervisors are working to stop decentralization projects. Gregory Klumov of the Maltese start-up Stasis then rekindled optimism. Those who are intensively involved with regulation win the confidence of investors. So one can see that the industry is forming, gaining in substance, even though the Bitcoin has its heyday behind it.

    “Tokenization” is the new keyword, which is also being promoted by the ITSA (International Token Standardization Association). The new institution founded by Prof. Dr. Philipp Sandner is dedicated to the standardization of tokens. It conducts discussions with regulators, coordinates suppliers and customers in the creation of a uniform infrastructure and is thus at the center of the professionalization of the blockchain industry.