Gettex

What Gettex does

Gettex is the market-maker-supported electronic trading venue of Börse München (Munich Stock Exchange), operated by Bayerische Börse AG, a German public-law institution supervised by the Bavarian Ministry of Economic Affairs. Founded in 2015 and headquartered in Munich, the platform lists approximately 850,000 tradable securities — German and international shares, ETFs, funds, bonds, cryptocurrencies, and roughly 830,000 certificates — and operates under Market Identifier Codes MUNC (Regulated Market) and MUND (Open Market). Continuous liquidity is provided by Baader Bank as primary market maker for shares/funds/ETFs/bonds and by four global issuers (BNP Paribas, Goldman Sachs, HSBC Deutschland, UniCredit onemarkets) acting as direct market makers for certificates. Trading runs 7:30-23:00 CET for most asset classes and 8:00-22:00 CET for certificates.

The technical core is an electronic trading system with market-maker price discovery rather than a central limit order book, supplemented by free real-time and delayed data feeds, stock/ETF/certificate/fund/bond screeners, a cookie-based watchlist, and the proprietary gettex Risk Indicators (EU/US, intraday/long-term). Customer-facing channels include blog content, a podcast series, a newsletter, and educational modules (e.g., knowledge tests for knock-out certificates). The platform integrates Refinitiv (LSEG) analyst data and SOLVIANS' Certificate Finder for securities discovery.

Gettex does not charge end-user trading or exchange fees; revenue is generated through market-data licensing to third parties, listing fees from issuers, and distribution fees from certificate issuers tied to trading volume generated on the platform. End users access gettex exclusively through approximately 28+ partner banks, online brokers, and Sparkassen (e.g., Commerzbank, ING, DKB, Comdirect, Consorsbank, Flatex, Scalable Capital, HypoVereinsbank, Deutsche Bank, plus international brokers such as Interactive Brokers, LYNX, and Trading 212). Headcount is in the 11-50 range, and dedicated sales and issuer-relations functions are led by Werner Lang (Director Sales) and Lars Reichel (Head of Issuer Relations), with governance provided by the Bayerische Börse AG board including Dr. Robert Ertl and Andreas Schmidt.

Name

Gettex

Legal name

Bayerische Börse AG

Website

https://gettex.de

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Gettex is the market-maker-supported electronic trading venue of Börse München (Munich Stock Exchange), listing ~850,000 securities — shares, ETFs, funds, bonds, certificates, and crypto — with zero end-user fees, distributed through 28+ partner banks and online brokers across Germany and Europe.

Ownership category

akta.pro rank

Product category

Securities Exchange / Electronic Trading Venue

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Centralized Crypto Exchanges (CEX) (FSAPADAA)

akta.pro secondary industries

Brokerages & On/Off-Ramps (fiat rails, instant buy/sell) (FSAPADAG), Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)

Keywords

• Electronic stock exchange
• Securities trading platform
• Market maker trading
• Certificate trading
• Retail brokerage exchange

Headquarters

HQ city

München

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Market Data Licensing: Licensing of real-time and delayed market data to third parties including financial data providers and trading platforms
2. Listing Fees: Fees charged to issuers for listing securities on the exchange
3. Certificate Distribution: Distribution fees from certificate issuers (BNP Paribas, Goldman Sachs, HSBC Deutschland, UniCredit) for trading volume generated on the platform

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Gettex is an electronic stock exchange operating the market maker-supported trading model of Börse München, enabling trading of approximately 850,000 securities including shares, ETFs, funds, bonds, certificates, and cryptocurrencies with no trading or exchange fees for end users. The platform operates under MIC codes MUNC (Regulated Market) and MUND (Open Market) with extended trading hours of 7:30-23:00 CET for most securities, accessed indirectly by retail investors through partner banks and brokers. Revenue is generated through market data licensing, listing fees, and issuer distribution commissions rather than direct trading charges.

Product overview

Gettex is the market maker-supported trading model of Börse München, operated by Bayerische Börse AG. It is an electronic exchange platform enabling trading of approximately 850,000 securities including German and international shares, ETFs & funds, bonds, certificates (knock-outs, index certificates, and other structured products from issuers BNP Paribas, Goldman Sachs, HSBC Deutschland, and UniCredit), and cryptocurrencies. The platform operates under MIC codes MUNC (Regulated Market) and MUND (Open Market). Core features include real-time price data, multiple market screeners (stock, certificate, ETF, fund, bond finders), gettex Risk Indicators for market sentiment, a watchlist tool, podcast and newsletter services, and extended trading hours (7:30 AM to 11 PM CET for shares/ETFs/bonds, 8:00 AM to 10 PM for certificates). Baader Bank AG serves as the primary market maker for shares, funds, ETFs, and bonds. The platform provides free real-time data and delayed data per EU regulatory requirements, with no trading or exchange fees charged.

Differentiator

Problem solved

Functional benefit

Brands

• gettex-Risk-Indikatoren: Sentiment indices that measure market sentiment and reflect current investor behavior based on gettex trading data

Products and services

• Gettex Exchange (Core Trading Platform) Market maker-supported electronic trading system at Börse München enabling real-time trading of securities without trading or exchange fees for end users. Operates under MIC codes MUNC (Regulated Market) and MUND (Open Market) with extended trading hours.
• Shares Trading Trading of German and international shares with real-time prices and execution via market makers, available through partner banks and online brokers.
• ETFs & Funds Trading Trading of exchange-traded funds and investment funds with real-time pricing and market maker support.
• Bonds Trading Trading of bonds with real-time pricing and market maker support.
• Certificates Trading (~850,000 instruments) Trading of approximately 850,000 certificates issued by BNP Paribas, Goldman Sachs, HSBC Deutschland, and UniCredit, traded directly with issuers acting as market makers. Includes knock-out products, index certificates, and other structured products.
• Crypto Trading Cryptocurrency trading capability offered on the Gettex platform, accessible through partner brokers.
• Listing on Demand Service allowing custom listing of securities on the Gettex platform upon issuer request.
• Market Data Licensing Licensing of real-time and delayed market data to third parties including financial data providers and trading platforms. Provided free to retail end users; licensed to professional data vendors.
• Certificate Issuer Listing & Distribution Service Listing fees and distribution fees from certificate issuers (BNP Paribas, Goldman Sachs, HSBC Deutschland, UniCredit) for trading volume generated on the platform. Trades occur directly with the issuer as market maker.

Quantifiable outcome

• No trading fee and no exchange fee for all trades
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature1 record

Partnerships

13 partnerships are on record, tiered core and major.

• Baader Bank AGcoreTechnology or IntegrationBaader Bank AG serves as the primary market maker for shares, funds, ETFs and bonds traded on gettex. As the German market leader in market making, Baader Bank provides continuous liquidity and price discovery for the exchange's core securities offerings.
• BNP ParibascoreChannel Partner/ Reseller/ DistributorBNP Paribas is one of the major certificate issuers on gettex, offering approximately 850,000 certificates including various structured products for retail investors. Trading occurs directly with the issuer as market maker.
• Goldman SachscoreChannel Partner/ Reseller/ DistributorGoldman Sachs issues certificates and structured products on the gettex platform, contributing to the broad range of over 830,000 certificate products available for trading.
• HSBC DeutschlandcoreChannel Partner/ Reseller/ DistributorHSBC Deutschland is a certificate issuer on gettex, providing structured products and certificates that trade on the platform alongside offerings from other major issuers.
• UniCredit (onemarkets)coreChannel Partner/ Reseller/ DistributorUniCredit operates its onemarkets platform through gettex, issuing certificates and structured products that are tradable on the exchange with direct issuer market maker participation.
• Commerzbank AGmajorChannel Partner/ Reseller/ DistributorCommerzbank provides its customers access to gettex trading through its online banking platform, one of the major German banks integrated with the exchange.
• ING GermanymajorChannel Partner/ Reseller/ DistributorING Germany offers its retail customers access to gettex trading through its online banking platform, serving as a significant distribution channel for the exchange.
• DKB Deutsche Kreditbank AGmajorChannel Partner/ Reseller/ DistributorDKB provides its customers with access to gettex trading through its online banking platform, one of the largest direct banks in Germany.
• ComdirectmajorChannel Partner/ Reseller/ DistributorComdirect, now part of Commerzbank group, offers gettex trading access to its customers through its online brokerage platform.
• ConsorsbankmajorChannel Partner/ Reseller/ DistributorConsorsbank, a subsidiary of BNP Paribas, provides gettex trading access to its online brokerage customers in Germany.
• Sparkassen (Savings Banks)majorChannel Partner/ Reseller/ DistributorGerman savings banks network providing local access to gettex trading for retail customers across Germany through approximately 35+ regional Sparkassen partners.
• FlatexmajorChannel Partner/ Reseller/ DistributorFlatex provides online brokerage services with gettex trading access to its customers in Germany.
• Scalable CapitalmajorChannel Partner/ Reseller/ DistributorScalable Capital (Smartbroker+) offers gettex trading access through its digital wealth management and brokerage platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Regional players

• SIX Swiss Exchange: Switzerland's primary exchange, comparable to gettex in retail structured products, regulated venue status, and extended-hours trading. Geographic adjacency but distinct Swiss regulatory perimeter.
• Hamburg Exchange (Hanseatische Wertpapierboerse): Another regional German exchange with a similar retail and SME-listing focus. Operates within the same German regulatory framework and competes for retail bank order flow, but with a narrower product set and smaller scale.

Others

• Baader Bank AG: Primary market maker for gettex across shares, funds, ETFs, and bonds, and operator of a white-label crypto offering (Wyden-powered) accessible through gettex partner brokers. Key ecosystem participant rather than direct venue competitor.
• Flatex AG: Major German online broker and distribution partner routing retail order flow to gettex. Comparable end-customer retail-trader focus but operates in brokerage, not venue infrastructure.

Direct peers

• Tradegate Exchange: Berlin-based retail-focused electronic exchange operating parallel trading hours (8:00-22:00) and a similar market-maker-supported model for German securities. Closest functional peer to gettex in terms of retail customer base, after-hours trading, and product breadth.
• Boerse Stuttgart: Stuttgart Exchange is the dominant German venue for retail certificates and bonds, directly competing with gettex in the structured products and after-hours segments. Operates a comparable market-maker-driven model for retail investors.

Broad incumbents

• Nasdaq Nordic: Operates Nordic cash equity exchanges with comparable retail and institutional infrastructure. Overlaps with gettex in cross-border equity listings and trading-venue technology, though focused on Nordic rather than German retail.
• Boerse Frankfurt: Frankfurt Exchange operates as the cash-market venue of Deutsche Boerse. Overlaps with gettex on listed equities and ETFs, particularly for retail flows routed through German banks, but at much larger institutional scale.
• Euronext: Pan-European exchange operator running regulated cash markets across multiple jurisdictions. Compares on venue infrastructure and regulated trading, but at much larger scale and broader geographic footprint than gettex.
• Xetra (Deutsche Boerse): Deutsche Boerse's flagship electronic trading platform and the dominant German equity/ETF venue. Competes with gettex on liquidity, scale, and institutional flow, but at a substantially larger scale with broader international reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/gettex_handeln
• LinkedInlinkedin.com/company/gettex

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gettex