Deutsche Boerse Ag · XETR:DB1

Deutsche Boerse — Deutsche Börse — Investor Day (June 2013)

104 slides from Deutsche Boerse's investor day presentation, Jun 18, 2013

  1. Slide 1: Investor Day 2013

    Investor Day 2013 Eschborn 18 June 2013

  2. Slide 2: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 1 Agenda 10.00 Group Strategy/ Financials  Reto Francioni, CEO  Gregor Pottmeyer, CFO Market Position & Business Development  Eurex and Xetra: Andreas Preuss, Deputy CEO  Clearstream: Jeffrey Tessler, Member of the Executive Board  Market Data

  3. Slide 3: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 2 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives

  4. Slide 4: Investment Highlights Deutsche Börse Group

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 3 Investment Highlights Deutsche Börse Group  Uniquely positioned to benefit from customer focus on risk, collateral and liquidity management; business model is serving as the global industry role model  Long-term gro

  5. Slide 5: Strategy Focused On Becoming Preeminent Global Provider For Integrated Risk, Collateral And Liquidity Management

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 4 Our Strategy Is Focused On Becoming The Preeminent Global Provider For Integrated Risk, Collateral And Liquidity Management Internationality Success factors Integrated risk, collateral  Leading derivatives market wit

  6. Slide 6: Deutsche Börse Has Delivered Attractive Returns And Maintained Stability Through Financial Crisis

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 5 Deutsche Börse Has Delivered Attractive Returns And Maintained Stability Through Financial Crisis €bn 2001: IPO of 2007: Acquisition 2012: Full acquisition ISIN: DE0005810055 Deutsche Börse of ISE of Eurex Bloomberg:

  7. Slide 7: Strong Position In Global Exchange Sector With Dividend Track Record

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 6 Strong Position In The Global Exchange Sector Paired With Long- Standing Track Record For Dividend Distributions Net revenue and net income (€bn)1 Dividend distributions since 2006 (€bn)2 CME 2.2 2.0 0.7 DB1 1.9 3.1 0

  8. Slide 8: Deutsche Börse Group Transformed Into A Full Service Market Infrastructure Provider

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 7 Deutsche Börse Group Transformed Into A Full Service Market Infrastructure Provider Segmental revenue breakdown Share of non-transaction related revenue 8% CAGR €190.1m €484.3m (avg. per quarter) Transaction- 50% rela

  9. Slide 9: Strong Position In Each Reporting Segment

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 8 Strong Position In Each Reporting Segment With Increasing Focus On Cross-Divisional Themes Eurex Clearstream  #1 derivatives market in Europe  Leading global post-trade provider with  #2 derivatives market world-wi

  10. Slide 10: Business Model Of Deutsche Börse Group Is Serving As The Global Role Model

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 9 Business Model Of Deutsche Börse Group Is Serving As The Global Role Model Cash Eurex/ Xetra Derivatives Clearing Settlement Clearstream Custody Collateral management Market data MD+S Indices Technology

  11. Slide 11: Changing Regulation Drives New Client Needs For Market Infrastructures

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 10 Changing Regulation Drives New Client Needs For Market Infrastructures Impact New client needs Liquidity  Professionalizing liquidity Changing Balance sheet management, diversifying regulation  Liquidity needs  fu

  12. Slide 12: Business Model And Offering Addresses Client Needs In Changing Regulatory Environment

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 11 Business Model And Offering Addresses Client Needs In Changing Regulatory Environment And Supports Geographic Expansion New client needs Geographic expansion Cash Spot market Eurex/ Xetra bonds Product Derivatives co

  13. Slide 13: Opportunities From Regulatory Framework Outweigh Challenges

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 12 Opportunities From Regulatory Framework Are More Concrete And Outweigh Challenges Description First proposed Status EMIR entered into force in August 2012; EMIR Implementation of G20 rules to enforce the ESMA technic

  14. Slide 14: Overview Management Priorities

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 13 Overview Management Priorities 1 Extend products and services to unregulated/ unsecured markets  Expand Eurex’s clearing/ risk management capabilities  Global roll-out of collateral and liquidity management service

  15. Slide 15: Growth – Some Major Milestones Of Growth Strategy Already Achieved

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 14 Growth – Some Major Milestones Of Growth Strategy Already Achieved  Agreement with major derivatives dealers on EurexOTC Clear offering for interest rate swaps in May 2012; launch of service in November 2012; first

  16. Slide 16: Growth – Asian Growth Initiatives

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 15 Growth – Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business 2007 2012 Objectives Sales revenue <€50 million >€100 million  Double sales Staff <30 >110 revenue in Asia over

  17. Slide 17: Growth – Net Revenue Contribution From New Products Almost €100 Million

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 16 Growth – Net Revenue Contribution From New Products Has Grown To Almost €100 Million In 2012 Net revenue contribution from new products Examples for new products €m1 Eurex +45  Cooperation products: e.g. KOSPI optio

  18. Slide 18: Structural And Cyclical Drivers Expected To Deliver Incremental Revenue

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 17 Growth – Structural And Cyclical Drivers As Well As Product Innovation Are Expected To Deliver Substantial Incremental Revenue Illustration of mid- to long-term net revenue opportunities €m Product Structural opportu

  19. Slide 19: Operating Efficiency – Efficiency Measures Over The Years

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 18 Operating Efficiency – Implementation Of Efficiency Measures Over The Years Prepared Deutsche Börse Well For Current Environment Track record for effective cost management Cost growth of key exchange organizations Op

  20. Slide 20: Operating Efficiency – Measures To Further Increase Efficiency

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 19 Operating Efficiency – Measures To Further Increase The Operating Efficiency Create Flexibility To Increase Investments In Growth Efficiency measures (update) Ramp-up of cost savings  Planned savings in personnel an

  21. Slide 21: Capital Management – Strong Cash Flow Generation

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 20 Capital Management – Strong Cash Flow Generation Allows For Strong Rating Profile And Attractive Distribution Policy Capital Management Policy Regular dividend per share  Continuing past practice, Deutsche Börse dis

  22. Slide 22: Capital Management – Rating Metrics And Regulatory Capital Requirements

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 21 Capital Management – Rating Metrics And Banking Regulatory Capital Requirements Credit rating metrics Regulatory capital requirements Minimum Actuals Minimum Actuals requirement 31 Dec 2012 requirement 31 Dec 2012 De

  23. Slide 23: Capital Management – Capital Requirements Driven By Operational Risks And EMIR

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 22 Capital Management – Capital Requirements Are Largely Driven By Operational Risks And EMIR Requirements Eurex Clearing AG (regulatory and EMIR requirements) Clearstream Holding group (regulatory requirements) Jan 201

  24. Slide 24: Capital Management – Refinancing Of Long Term Debt

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 23 Capital Management – Refinancing Of Long Term Debt Results In Significant Decrease Of Debt Financing Expenses Overview refinancing Debt financing costs (part of financial expenses) First tranche (Oct 2012) €m -29  F

  25. Slide 25: Risk Management – Deutsche Börse Maintains Low Risk Profile

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 24 Risk Management – Deutsche Börse Maintains Low Risk Profile Through Rigorous Risk Management Approach Deutsche Börse Group Risks Mitigation Operational risk  Integrated IT function and extensive track record for sys

  26. Slide 26: Risk Management – Counterparty Risk In The Clearing House

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 25 Risk Management – Counterparty Risk In The Clearing House Effectively Managed By Collateralization And Lines Of Defense Lines of defense of clearing house Risk management position Monthly avg. 2012; €bn 1. Liquidatio

  27. Slide 27: Risk Management – Summary

    Investor Day 2013 > Group Strategy/ Financials 18 June 2013 Deutsche Börse Group 26 Risk Management – Summary  The Group’s risk profile is mainly characterized by operational Extensive track record risks; its transaction based business model is very distinct from for system reliability the business

  28. Slide 28: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 27 Agenda Group Strategy/ Financials Market Position & Business Development  Eurex and Xetra  Clearstream  Market Data + Services  Group IT Update on Key Strategic Initiatives

  29. Slide 29: Long Term Revenue Growth And Stable Topline In Q1/2013 At Eurex

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 28 Long Term Revenue Growth And Stable Topline Development In Q1/2013 At Eurex Development of net revenue and EBIT €m Net revenue1 EBIT2,3 975 845 763 778 787 768 656 547 612 534 198 198 428 469 448 428 390 296 116 115 2005 2006 2007 2008 2

  30. Slide 30: Eurex Net Revenue Mainly Driven By Index Products

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 29 Eurex Net Revenue Mainly Driven By Index Products Breakdown of net revenue by product Q1/13; €197.5 million European Index Derivatives  Futures and options on a range of global, European Other and national indexes, i.e. EURO STOXX® and

  31. Slide 31: Eurex Net Revenue Per Contract Remains Broadly Stable

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 30 Eurex Net Revenue Per Contract Remains Broadly Stable Development of net revenue per contract Net revenue per contract by products €1 Q1/13; € 0.33 0.51 0.31 0.31 0.31 0.31 0.30 0.36 0.31 0.14 0.12 Total European European US Options Euro

  32. Slide 32: Eurex Business Model – Combination Of Four Success Factors

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 31 Eurex Business Model – Combination Of Four Success Factors Eurex business model – success factors Grow network Add products/markets Global distribution reach I Distribution Products/ II Leading benchmark products and across geographies a

  33. Slide 33: Eurex Distribution Strategy

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 32 Eurex Distribution Strategy Is Based On Leveraging Existing Distribution Customer Base And Expansion Into Growth Regions 2 Leverage existing customer base with new products & services to increase value per customer Distribution 1 3 Expan

  34. Slide 34: Growth Potential In New Regions And Additional Asset Classes

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 33 Growth Potential In New Regions And Additional Asset Distribution Classes Geographical split by volume1 Product split by volume Contracts traded; Q1/13 Contracts traded; Q1/13 Others Other Switzerland European Equity 7% 1% Netherlands Eu

  35. Slide 35: Eurex Volumes Largely Stable In Difficult Market Environment

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 34 Eurex Volumes Largely Stable In Difficult Market Products/ Markets Environment – Well Positioned For Market Recovery Development of contracts traded by product Growth of contracts traded Jan-May 2013 Average per month; m1 European Equity

  36. Slide 36: Eurex Core Products Resistant To Difficult Market Conditions

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 35 Eurex Core Products Resistant To Difficult Market Conditions Products/ Markets Daily traded contracts 2002 – 20131 (m) European Interest Rate Derivatives European Index Derivatives European Equity Derivatives 5 7 5 5 3 3 3 1 1 1 2002 200

  37. Slide 37: Eurex Repo – Leading European Provider In Secured Funding

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 36 Eurex Repo – Leading European Provider In Secured Products/ Markets Funding And Securities Financing Eurex Repo Markets – Overview Development of daily outstanding volumes1  Euro Repo Market  GC Pooling® (incl. new: GC Pooling Select)

  38. Slide 38: GC Pooling Select – New Service For Non-financial Institutions

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 37 “GC Pooling Select” – New Service For Non-financial Institutions Business motivation New client segments Use of proven GC Pooling® value chain and services:  Corporates  Hedge funds ‘New’ environment for non-financial institutions:  I

  39. Slide 39: Revenue Contribution Of New Eurex Products Since 2008

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 38 Revenue Contribution Of New Eurex Products Since 2008 Product innovations since 2008 Net revenue contribution of new products Cooperation products €m1  KOSPI options, being one of the most traded index options 31.7 globally. Volumes are

  40. Slide 40: Eurex Technology Roadmap

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 39 Eurex Technology Roadmap Technology New Trading Architecture New Risk Platform New Clearing Architecture 2013  Entire Eurex product suite migrated  First launch of new platform  New member interface architecture to new trading platfor

  41. Slide 41: Eurex Clearing Service Offering Being Expanded

    Investor Day 2013 > Eurex 18 June 2013 Deutsche Börse Group 40 Eurex Clearing Service Offering Being Expanded To Clearing Address New Regulatory Environment Roadmap Description 1 EurexOTC Interest Rate and Equity – preservation of full OTC flexibility with the benefits of CCP clearing for OTC-traded

  42. Slide 42: Limited Impact Of German High Frequency Trading Act Expected

    Investor Day 2013 > Eurex/ Xetra 18 June 2013 Deutsche Börse Group 41 Limited Impact On Liquidity Pool And Trading Volumes Due To German High Frequency Trading Act Expected Aspects of High Frequency Trading (HFT) Act Impact on Deutsche Börse Group  The HFT Act is in force since 15 May 2013; it pre-

  43. Slide 43: Xetra Segment Accounted For 7 Percent Of Group EBIT In Q1/2013

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 42 Xetra Segment Accounted For 7 Percent Of Group EBIT In Q1/2013 Development of net revenue and EBIT Breakdown of net revenue by activity €m Net revenue1 Q1/13; €36.6 million 442 EBIT2 Other (21%) 352 180 7.7 309 317 154 102 182 208 192 17

  44. Slide 44: Trading Revenue Driven By Development Of Order Book Volume

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 43 Trading Revenue Driven By Development Of Order Book Volume Development of cash market volumes  Trading activity 2013 year-to-date significantly above Number of Xetra trades (m) (monthly average) Q4/12 levels and slightly above 2012 aver

  45. Slide 45: Customers Outside Of Germany Generate 76 Percent Of Xetra Trading Volume

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 44 Customers Outside Of Germany Generate 76 Percent Of Xetra Trading Volume; Share Of DAX Transactions Stable1 Xetra order book volume by member country Breakdown net revenue by product2 Q1/13; €523.4 billion Q1/13; €36.6 million Switzerlan

  46. Slide 46: Xetra Maintains Strong Position For German Blue Chips

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 45 Xetra® Maintains Strong Position As Most Attractive Venue For German Blue Chips In A Fragmented Environment Market share development German blue chips Description and outlook  Xetra maintains stable market share in German blue Xetra and

  47. Slide 47: Xetra Offers Highest Liquidity And Reference Market Function In DAX Instruments

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 46 Xetra Offers Highest Liquidity And Reference Market Function In DAX® Instruments Spreads at top of order book in DAX instruments (in bp) Xetra Chi-X Turquoise BATS Europe  Xetra offers tightest spreads for both top of order book and an

  48. Slide 48: Xetra Well-Positioned To Generate Sustainable Value And Growth

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 47 Xetra Well-Positioned To Generate Sustainable Value And Growth Value/ growth drivers 1 Strong position in German cash equity trading 3 Effective regulatory position and compliance  Heterogeneous order flow  Well-established and future-

  49. Slide 49: Entry Standard Bonds – Leading National Listing Venue For Small & Mid Cap Bonds

    Investor Day 2013 > Xetra 18 June 2013 Deutsche Börse Group 48 Entry Standard Bonds – Leading National Listing Venue For Small & Mid Cap Bonds Number of bond listings Raised capital 36 €m1 1,757 19 767 10 565 425 7 2011 2012 2013 Total 2011 2012 2013 Total  Entry Standard Bonds was launched in Apri

  50. Slide 50: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 49 Agenda Group Strategy/ Financials Market Position & Business Development  Eurex and Xetra  Clearstream  Market Data + Services  Group IT Update on Key Strategic Initiatives

  51. Slide 51: Clearstream Has A Simple And Solid Business Model

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 50 Clearstream Has A Simple And Solid Business Model Centered On Key Attractive And Complementary Services Clearstream business model We are ...  The most profitable global CSD in the world with a simple and  Securities lending  Sa

  52. Slide 52: Strategy Is Geared To Service Customers’ Needs

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 51 Strategy Is Geared To Service Customers’ Needs Market environment Clearstream solutions 1. Collateral management services are Regulation Customer key to assess the cost of capital and institutions collateral requirements and theref

  53. Slide 53: Win Custody Volumes Through Settlement And Collateral Liquidity

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 52 Successful Strategy: Win Custody Volumes Through Attractive Settlement And Collateral Liquidity New market dynamic Cornerstones of the strategy Collateral Settlement  Expand collateral management Custody services to allow customer

  54. Slide 54: Clearstream Is The Most Profitable Global CSD In The World

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 53 Clearstream Is The Most Profitable Global CSD In The World EBIT comparison with peers EBIT development vs. Euroclear €m Compared to peers, €m 2011 Euroclear3 Clearstream has a ... 2012 Clearstream 371 516 505  more diversified 435

  55. Slide 55: Clearstream Grows Through Innovation And Leveraging Synergies

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 54 Clearstream Grows Through Innovation And Leveraging Synergies Within Deutsche Börse Group Product innovations since 2008 Net revenue contribution of new products1 GSF Liquidity Hub targets the free flow of collateral by €m offering

  56. Slide 56: Low Interest Rates Weigh On Performance In Spite Of High Cash Balances

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 55 Low Interest Rates Weigh On Performance In Spite Of High Cash Balances Settlement transactions & cash balances Interest rates & net interest income Avg. cash balance (€bn) Net interest income (€m) 9.6 Settlement transactions (m)1 2

  57. Slide 57: Revenue Resilience And Strong Cost Discipline

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 56 Revenue Resilience And Strong Cost Discipline Net revenue, cost and EBIT development Breakdown of net revenue by activity (€m) 8781 €m Net revenue 844 NII GSF Custody Other Settlement IFS3 EBIT1 231 687 685 Operating costs 237 655

  58. Slide 58: Custody – Revenue Is Stable Despite Contracting Market

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 57 Custody – Revenue Is Stable Despite Contracting Market Net revenue Development of assets under custody Q1/13; €83.8 million €tr1 Domestic International 10.9 11.1 11.1 11.5 15.4 10.5 10.6 10.3 Domestic (18%) 5.1 5.2 5.1 5.4 5.7 5.5

  59. Slide 59: Settlement – Volumes Reflect Transition To Repo Activity

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 58 Settlement – Volumes Reflect Transition From Equity Trading To Repo Activity Net revenue Development of settlement volumes Q1/13; €25.8 million €tr1 Domestic International 10.3 10.5 10.4 Domestic (27%) 9.5 9.7 9.5 7.0 8.5 7.4 6.6 7

  60. Slide 60: Global Securities Financing – Attractive Collateral Management Services

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 59 Global Securities Financing – Clearstream Has Uniquely Attractive Collateral Management Services Net revenue1 Development of GSF volumes outstanding1 Q1/13; €13.2 million €bn2 ASL+ Repo Xemac (GC Pooling®) LMS LMS (8%) ASL+ (16%) 5

  61. Slide 61: Investment Fund Services – Global Footprint Expanding In A Growing Market

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 60 Investment Fund Services – Our Global Footprint Is Expanding In A Growing Market Net revenue1 Number of investment funds available 2012; €66.7 million Vestima FundSettle 120,000 Connectivity (21%) 100,000 Settlement (31%) 14.7 20.5

  62. Slide 62: Key Clearstream Messages

    Investor Day 2013 > Clearstream 18 June 2013 Deutsche Börse Group 61 Key Clearstream Messages We have a simple and solid business model centered on 4 attractive and complementary 1 post-trade services. We have a low market risk profile and a strong rating. Our strategy is to achieve market leadershi

  63. Slide 63: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 62 Agenda Group Strategy/ Financials Market Position & Business Development  Eurex and Xetra  Clearstream  Market Data + Services  Group IT Update on Key Strategic Initiatives

  64. Slide 64: New Segment Market Data + Services Adds Value To The Group

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 63 New Segment Market Data + Services (MD+S) Adds Value To The Group In Many Dimensions MD+S as part of Deutsche Börse Group Value to Deutsche Börse Group 1 Cross divisional synergetic revenue1 2 Leverage of Deutsche Börse

  65. Slide 65: Business Model – Long Term Recurring Revenue

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 64 Business Model – Long Term Recurring Revenue Building On Deutsche Börse Assets And Capabilities MD+S builds on Deutsche Börse assets… … using recurring revenue vehicles Business Subscriptions  Real time data packages Da

  66. Slide 66: Diversified Revenue Stream In Market Data + Services

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 65 Diversified Revenue Stream In Market Data + Services Breakdown of net revenue by activity Description of activities Q1/13; €91.5 million Trading Signals (incl. MNI, NTKN1)  Products: Licensing of real-time data (e.g., X

  67. Slide 67: Indices: Sustainable Growth In Assets Under Management

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 66 Indices: Sustainable Growth In Assets Under Management – Upside In Non-EU Indices ETFs using STOXX/ DAX as underlying Total assets allocated into ETFs by region Assets under management; €bn1 Assets under management2 80 O

  68. Slide 68: Trading Signals: Stable Usage – Upside In Emerging Markets

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 67 Trading Signals: Stable Usage – Upside In Content For Emerging Markets Quarterly data subscriptions vs. trade vol.1 Market data spend forecast2 Data subscriptions Share of data users planning to increase Eurex contracts

  69. Slide 69: Technology Services: Growing Client Base

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 68 Technology Services: Growing Client Base – Upside Through Upselling Venue services1 Service coverage Number of clients Number of clients per service Average contract duration > 5 years Hosting services 31 Average remaini

  70. Slide 70: Connectivity: Increased Bandwidth – Upside In Non-member

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 69 Connectivity: Increased Bandwidth – Upside In Non-member Connectivity Customer bandwidth usage1 Revenue visibility-potential In mbps 6.5m  Number of clients mostly stable since 2009  Big usage jump in 2012 through prov

  71. Slide 71: Net Revenue And EBIT Development

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 70 Net Revenue And EBIT Development Net revenue and EBIT development Business update Net revenue (€m) Market data IT services  Trading signals: Most of the financial crisis seems 395 399 371 to be digested; Q1 run-rate was

  72. Slide 72: Three-pronged Strategy To Return To Growth Path

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 71 Three-pronged Strategy To Return To Growth Path, Combining Organic And Inorganic Moves Data/ content services (revenue) 1 3 Enrich data offering Combine data and with new global technology to form content sets value-adde

  73. Slide 73: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 72 Agenda Group Strategy/ Financials Market Position & Business Development  Eurex and Xetra  Clearstream  Market Data + Services  Group IT Update on Key Strategic Initiatives

  74. Slide 74: Powerful Applications Supporting Services Along The Process Chain

    Investor Day 2013 > Group IT 18 June 2013 Deutsche Börse Group 73 Deutsche Börse Group Has A Number Of Powerful Applications That Successfully Support The Services Along The Process Chain Information Trading Clearing Settlement Custody Optimise ISE Deriva- tives Eurex® market CEF® (trading system) s

  75. Slide 75: Group IT Maintains Highest Levels Of Quality And Stability

    Investor Day 2013 > Group IT 18 June 2013 Deutsche Börse Group 74 Group IT Continues To Maintain Highest Levels Of Quality And Stability With Its Services In April 2013 service levels were consistently fulfilled by all major systems Eurex Xetra CEF ICSD CSD Service 99.99% 100% 100% 100% 100% Availab

  76. Slide 76: Successful Launch Of The New Trading Architecture For Eurex

    Investor Day 2013 > Group IT 18 June 2013 Deutsche Börse Group 75 Deutsche Börse Group Invests In Future – Successful Launch Of The New Trading Architecture For Eurex Eurex NTA performance gains:  Being already productive for Options trading at ISE, Processing times for FSMI futures transactions th

  77. Slide 77: Development Of New Clearing Architecture

    Investor Day 2013 > Group IT 18 June 2013 Deutsche Börse Group 76 Deutsche Börse Group Invests In Future – Development Of New Clearing Architecture New Clearing Architecture (NCA), designed for reliability and resilience, as well as for flexibility, and using concepts and technology developed with N

  78. Slide 78: Deutsche Börse Group Invests In Future – Clearstream

    Investor Day 2013 > Group IT 18 June 2013 Deutsche Börse Group 77 Deutsche Börse Group Invests In Future – Clearstream The implementation of the Clearstream strategy leads to build common applications delivering value-added services that serve both ICSD & CSD Business. There is a pragmatic move towa

  79. Slide 79: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 78 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives  Overview  Eurex incl. OTC Clearing  Clearstream incl. Collateral Management  Market Data + Services  Asia

  80. Slide 80: Key Strategic Initiatives Address Mid-term Growth Opportunities

    Investor Day 2013 18 June 2013 Deutsche Börse Group 79 Key Strategic Initiatives Address Mid-term Growth Opportunities Growth strategy Key strategic initiatives Mid-term revenue opportunity Extend products and services to 1 unregulated/ unsecured markets  Expand Eurex clearing/ risk OTC Clearing ~€

  81. Slide 81: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 80 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives  Overview  Eurex incl. OTC Clearing  Clearstream incl. Collateral Management  Market Data + Services  Asia

  82. Slide 82: Overview Of Eurex Growth Themes

    Investor Day 2013 > Eurex initiatives 18 June 2013 Deutsche Börse Group 81 Overview Of Eurex Growth Themes Area of growth Growth theme Description Provide CCP services for OTC  Capturing revenue potential for clearing and risk Extend products derivatives management services for OTC derivatives foll

  83. Slide 83: OTC Clearing – Superior Value Proposition

    Investor Day 2013 > Eurex initiatives 18 June 2013 Deutsche Börse Group 82 OTC Clearing – Superior Value Proposition Built On Proven Track Record Of Providing Safety And Efficiency To Markets Benefits Value Proposition  One-stop-shop across markets: listed & OTC derivatives, repo and asset classes:

  84. Slide 84: EurexOTC Clear: Overview

    Investor Day 2013 > Eurex initiatives 18 June 2013 Deutsche Börse Group 83 EurexOTC Clear: Overview Service launched on 13 November 2012  Eurex IRS OTC Release 2.0 rolled out on 8 April 2013 covering additional segregation models and product extensions including zero coupon swaps, ICM for Asset Man

  85. Slide 85: EurexOTC Clear: Current Service Scope

    Investor Day 2013 > Eurex initiatives 18 June 2013 Deutsche Börse Group 84 EurexOTC Clear: Current Service Scope Product description Risk management Client asset protection Currencies:  Fully transparent risk  Individual Clearing Model for Registered methodology and Customers - positions and colla

  86. Slide 86: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 85 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives  Overview  Eurex incl. OTC Clearing  Clearstream incl. Collateral Management  Market Data + Services  Asia

  87. Slide 87: Clearstream’s Strategic Initiatives Must Fulfill Strict Investment Criteria

    Investor Day 2013 > Clearstream initiatives 18 June 2013 Deutsche Börse Group 86 Clearstream’s Strategic Initiatives Must Fulfill Simple But Strict Investment Criteria Clearstream investment criteria Key strategic initiatives 1. Liquidity Hub is answering fundamental market need and leverages Clears

  88. Slide 88: New Collateral And Liquidity Management Landscape

    Investor Day 2013 > Clearstream initiatives 18 June 2013 Deutsche Börse Group 87 New Collateral And Liquidity Management Landscape Headquarters: Clearstream Luxembourg Automated CCP and OTC Liquidity / Collateral Manager International Trade Repository Customer Zurich-London Collateral (ICSD) Exposur

  89. Slide 89: Target2-Securities Is An Opportunity For Clearstream

    Investor Day 2013 > Clearstream initiatives 18 June 2013 Deutsche Börse Group 88 Target2-Securities (T2S) Is An Opportunity For Clearstream To Grow Its Liquidity And Attract New Customers Euroclear Clearstream T2S strategy and opportunities €tr1 €tr1,2 11.7  Clearstream has the largest settlement 1

  90. Slide 90: Investment Fund Services – For Everything Which Is Called A Fund

    Investor Day 2013 > Clearstream initiatives 18 June 2013 Deutsche Börse Group 89 Investment Fund Services – For Everything Which Is Called A Fund UK US FR CH DE SP  110,000 ISINs on Vestima (from customer customer customer customer customer customer around 1,000 asset managers in Fund distributor 3

  91. Slide 91: Liquidity Strategy Leveraging All Services To Attract Volume

    Investor Day 2013 > Clearstream initiatives 18 June 2013 Deutsche Börse Group 90 Liquidity Strategy Leveraging All Services To Attract Volume And Customers From Competitors The market’s key concerns are capital and liquidity Clearstream is deploying its Liquidity Hub globally to match the regulatory

  92. Slide 92: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 91 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives  Overview  Eurex incl. OTC Clearing  Clearstream incl. Collateral Management  Market Data + Services  Asia

  93. Slide 93: Setup Of New Segment In Full Flight

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 92 Setup Of New Segment In Full Flight Today 2012 2013 Feb 2012: Announcement  Dec 2012: Hauke Stars  Q2/2013: Organizational  Q4/2013: Decisions on new to merge IT and takes over implementation offerings to be Market Da

  94. Slide 94: MD+S Will Further Leverage Domain Expertise

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 93 In The Future MD+S Will Further Leverage Deutsche Börse Group’s Domain Expertise To Provide Data-Driven Technology Services  We will position MD+S as a provider of essential intelligence and value- added services which

  95. Slide 95: Three-pronged Strategy To Return To Growth Path

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 94 Three-pronged Strategy To Return To Growth Path, Combining Organic And Inorganic Moves Data/ content services (revenue) 1 3 Enrich data offering Combine data and with new global technology to form value content sets adde

  96. Slide 96: Organic Growth Streams Already In Execution

    Investor Day 2013 > Market Data + Services 18 June 2013 Deutsche Börse Group 95 Organic Growth Streams Are Already In Execution, New Strategic Initiatives Are In Preparation 1 Strategic projects 2 3 New strategic projects Commercialization currently in execution to be started in 2014 Wrap content in

  97. Slide 97: Agenda

    Investor Day 2013 18 June 2013 Deutsche Börse Group 96 Agenda Group Strategy/ Financials Market Position & Business Development Update on Key Strategic Initiatives  Overview  Eurex incl. OTC Clearing  Clearstream incl. Collateral Management  Market Data + Services  Asia

  98. Slide 98: Asian Growth Initiatives Based On Successful Expansion

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 97 Deutsche Börse Group’s Asian Growth Initiatives Are Based On Successful Expansion Of Business 2007 2012 Objectives Sales revenue <€50 million >€100 million  Double sales Staff <30 >110 revenue in Asia over the mid-term Representative Hon

  99. Slide 99: Clearstream Is Growing In Asia From A Position of Strength

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 98 Clearstream Is Growing In Asia From A Position of Strength 1 Clearstream’s offering is attractive to 1 financial institutions based in Asia seeking to access the international market as well as North American and 2 European markets Clears

  100. Slide 100: Eurex’ Current Position In Asia

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 99 Eurex’ Current Position In Asia Exchange  22 trading participants in Singapore, Hong Kong, Dubai, Taiwan, Japan and Australia members  More than 50 indirect customers trade Eurex products via international brokers  Eurex offices in Hon

  101. Slide 101: Eurex Growth Dimensions For Asia Expansion

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 100 Eurex Growth Dimensions For Asia Expansion 1 Attract Asian liquidity  Connect remote members (direct sale) Distribution  Asian products for current customers  Growth pattern with three (e.g. KOSPI) major objectives/ growth  Local pro

  102. Slide 102: Eurex Asia Expansion – Outlook For 2013 And Beyond

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 101 Eurex Asia Expansion – Outlook For 2013 And Beyond Objective Outlook 2013 Attract Asian liquidity Positive trend in the beginning of 2013: 1 As of May 2013 YTD revenue generated by Asian members and trading locations increased by 23 % an

  103. Slide 103: Eurex Product And Technology Co-operations In Asia

    Investor Day 2013 > Asia 18 June 2013 Deutsche Börse Group 102 Eurex Product And Technology Co-operations In Asia South Korea (KRX) Taiwan (TAIFEX) India (BSE)  Successful cross-listing of KOSPI 200  Eurex and TAIFEX agreement  Strategic investment (5 % Options at Eurex since August 2010 executed

  104. Slide 104: Disclaimer

    Investor Day 2013 Disclaimer Cautionary note with regard to forward-looking statements: This document contains forward-looking statements and statements of future expectations that reflect management's current views and assumptions with respect to future events. Such statements are subject to known

Deutsche Börse — Investor Day (June 2013) on 6ix