An integrated business model covering the initial public offering (IPO) market, a cash and a derivatives market, as well as clearing and settlement processes is a key success factor not only for the owners and managers of an exchange organisation, but also for their customers. Nothing demonstrates this better than the recent conversion of the London Stock Exchange to such a model, as witnessed by its merger with Borsa Italiana. As recent announcements made by Brazilian exchanges show, this model is not just popular in Europe. Its global appeal is far-reaching.
Be this as it may, for the customers of Deutsche Börse, the integrated model has paid off: they profit from a one-stop shop for more than 300,000 instruments, super-fast transactions on a very stable system, and very high liquidity. Our mission is improved market efficiency by delivering lower total transaction cost for investors.
