Deutsche Börse: Strong quarterly results meet seasonal headwinds

Deutsche Börse is one of the leading operators of financial market infrastructure worldwide. The company earns not only from stock trading via Xetra and Frankfurt but also covers large parts of the value chain with Eurex, Clearstream, ISS STOXX, and other platforms. Revenues are generated through trading and clearing fees, custody and settlement of securities, index licenses, data products, as well as software solutions. Recurring revenues and high entry barriers stabilize the business model, while increasing capital market activity, more passive...