As a transaction bank, the Deutsche WertpapierService Bank AG (dwpbank) handles the securities processing for financial institutions from the savings bank and cooperative sector, but also from the private and commercial banking sector in Germany. dwpbank currently manages around 5.34 million securities accounts.[2]
History
dwpbank in its present form was created on 4 August 2003 from the merger between Bank für Wertpapierservice und -systeme AG, Frankfurt (bws bank) and WPS WertpapierService Bank AG, Düsseldorf (WPS Bank). The predecessor institutes already started in mid-1998 as pioneers in transaction banking. At the time of foundation, the shares were distributed to Sparkassenverband Westfalen-Lippe, Münster with 25%, Rheinische SGV, Düsseldorf with 25%, DZ Bank, Frankfurt with 40% and WGZ-Bank, Düsseldorf with 10%. Thus, the ownership structure was divided equally between the Volksbanks and Sparkassen Gruppe. However, the ownership structure is open to other owners.
In March 2007, dwpbank expanded through the acquisition of TxB Transaktionsbank GmbH. TxB, which was initially a wholly owned subsidiary of dwpbank-Gruppe, was merged into dwpbank on 25 August 2008.