The first German exchange to allow customers to invest in precious metals has been launched in the capital of Berlin, a city where the precious metals trade is dominated by foreign exchange brokers.
The German stock exchanges is the largest exchange in the world and has the largest trading volume.
Its founder, Thomas Tiedemann, told CNN it is designed to help German citizens who live in a country that is very dependent on foreign currencies and commodities to invest.
“If you don’t want to invest with foreign exchange firms, this is the way to go,” he said.
Tiedemant, who is the president of the Bundesbank, said he hoped the exchange would help to attract investors who might otherwise be reluctant to invest overseas.
The exchange has been offering precious metals since 2009 and has a market capitalization of around €400 million ($430 million), according to Bloomberg.
It offers exchange-traded funds that trade in the Frankfurt and London markets, and has been operating since 2008.
Some of the metals that are offered include silver, gold, copper and platinum.
The market has grown rapidly in recent years, but there are still some restrictions on the trade of the precious metal.
Gold is considered an investment grade metal and requires a deposit of at least 50% of the total value of the investment.