Deutsche Börse and Computershare have established a joint venture to offer share registration and related services to the German securities market - and at a later stage in continental Europe.
The new venture, Deutsche Börse Computershare GmbH, will offer a range of services, including general assembly or general meeting management, Internet-based proxy voting and full service share registry management. It will be located in Frankfurt and will take over Deutsche Börse's "IAB" share registration bureau, which serves six million accounts in Germany, or about 60% of the market. The joint venture will also use Computershare's proprietary Scrip global registry management system.
Amongst companies using the IAB bureau are DaimlerChrysler, Deutsche Bank, Deutsche Post, Lufthansa, Infineon and Siemens.
The new company will be 51% owned by Deutsche Börse and 49% by Computershare. It is expected to be operational in the second quarter of 2002.
In the medium term, Deutsche Börse Computershare will cooperate with Computershare's businesses around the world to offer employee incentive scheme administration services. The new company will also give German issuers access to global share services, global registry management, investor analysis and other products from Computershare's global product and service range.