Deutsche Börse is forming a new Market Data and Services unit that combines its market data and analytics team with its external technology and connectivity services department. The move mirrors an earlier one by Nasdaq OMX to respond to declining equity volumes and fee-based profits by diversifying into data and technology services.
The new Market Data and Services subunit will be part of the German stock exchange group’s wider IT department, and will be led by executive board member, Hauke Stars, under the direction of Deutsche Börse managing director, Holger Wohlenberg.
“The new MD+S segment allows us to combine our strong expertise in technology and market data to better respond to client needs and offer innovative solutions,” explained Stars. “We look forward to expanding our product and service offerings to further benefit the global investment and trading community.”
The changing regulatory environment is also a key driver of the need for stock exchange diversification, although interestingly the EU MiFID II rules may seek to re-establish some form of the old European ‘concentration’ rules that forced national on-exchange listings if certain countries get their way.