What Deutsche Börse Venture Network does

Deutsche Börse AG (parent of the Venture Network) is a publicly traded German market infrastructure operator (ticker DB1) headquartered in Frankfurt, operating the Frankfurt Stock Exchange (FWB), the Xetra electronic trading platform, the Eurex derivatives exchange, Clearstream's post-trade custody and settlement network, the 360T FX platform, and the 360X tokenized securities venue. The company also owns ISS STOXX (data, analytics, and indices), Market Data + Services, Xetra Gold, and Crypto Finance. Deutsche Börse is also acquiring Allfunds Group for €5.3 billion (closing H1 2027) to integrate wealth-tech fund distribution with Clearstream.

The core technology stack is anchored on the proprietary T7 trading system (with continuous releases 13.0–15.0 supporting MiFID II/MiFIR, DORA, and Algo ID requirements), interconnected across cash equities, derivatives, FX, and post-trade. The firm operates a horizontally segmented business — Trading & Listing Fees (transaction-based), Post-Trade Services via Clearstream (subscription/recurring), Data & Analytics via ISS STOXX (subscription), FX Trading via 360T (transaction), and Digital Asset Trading via 360X (transaction). Pricing is volume-tiered for trading/listing, asset-based or transactional for custody, and subscription-based for data.

Deutsche Börse serves corporate issuers (pre-IPO to blue-chip), trading participants and institutional investors, custody and fund services clients, index/ESG data consumers, retail investors (via Xetra), and digital asset market participants. The customer base spans 1,000+ trading participants on Xetra, more than 1,000 fund distributors to be added via Allfunds, and global asset managers using ISS STOXX benchmarks. Distribution combines direct enterprise sales, designated sponsor and market maker networks, the Eigenkapitalforum corporate finance conference, and a Capital Market Partner program supporting mid-market IPO candidates. The Q4 2025 results showed 9% revenue growth with five business units above 10%, and management targets €4.4 billion operating profit by 2028 at ~7% annual growth, complemented by a €500 million share buyback.

Name

Deutsche Börse Venture Network

Legal name

Deutsche Börse AG

Website

https://venture-network.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Deutsche Börse AG operates Europe's leading integrated market infrastructure spanning equity/derivatives exchanges (Xetra, FWB, Eurex), post-trade custody (Clearstream), data and indices (ISS STOXX), FX (360T), and tokenized securities (360X), serving corporate issuers, trading participants, institutional investors, and fund distributors globally.

Ownership category

akta.pro rank

Product category

Capital Markets Services

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Electronic Communication Networks (ECNs) / Crossing Networks (Multi-Asset) (FSAFAEAD)

akta.pro secondary industry

Centralized Crypto Exchanges (CEX) (FSAPADAA)

Keywords

• IPO advisory services
• Capital markets access
• Growth company support
• Equity listing services
• Venture capital network

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Trading & Listing Fees: Revenue from listing fees for IPOs, equities, ETFs, ETPs, bonds, certificates, warrants, and funds on Xetra and Frankfurt Stock Exchange. Trading fees are charged on securities transactions executed through Xetra and the Frankfurt trading venue, with volume-based components.
2. Post-Trade Services (Clearstream): Custody, settlement, and fund services through Clearstream. Revenue from securities custody, transaction settlement, and fund distribution services. Clearstream is a central securities depository (CSD) serving domestic and international clients. The Allfunds acquisition will significantly expand fund distribution capabilities.
3. Data & Analytics (ISS STOXX): Revenue from index provision, data analytics, and ESG data services through ISS STOXX, which Deutsche Börse will fully own after acquiring the remaining 20% minority stake from General Atlantic for €1.1 billion.
4. Market Data Services: Market data provision including real-time and delayed pricing, statistics, and reference data distributed through Data & Tech channels including web services and APIs.
5. FX Trading (360T): Foreign exchange trading services through the 360T platform, a multi-dealer trading venue for FX.
6. Derivatives Trading (Eurex): Exchange-traded derivatives including equity derivatives, interest rate derivatives, and commodity derivatives through Eurex Deutschland, with trading participants and exchange council oversight.
7. Digital Asset Trading (360X): Tokenized securities trading on the 360X platform, enabling round-the-clock trading of tokenized equities and ETFs paired against stablecoins, generating volume-based revenue.
8. Technology Solutions & Co-location: Revenue from T7 access, co-location services, vendor registration, GUI launchers, and consultancy services including Xentric.

Pricing tiers

Go-to-market motion2 records

Distribution channels10 records

Marketing channels8 records

Core offering

Deutsche Börse Venture Network supports striving growth companies and unicorns on their way to going public by connecting them with Deutsche Börse AG's European market infrastructure. It provides IPO preparation support, listing venue access (Xetra and Frankfurt Stock Exchange), direct capital raising through DirectPlace, advisory access via the Capital Market Partner program, and event/conference participation including the Deutsches Eigenkapitalforum. The network operates within the broader Deutsche Börse ecosystem covering listing, trading, clearing, settlement, data, and analytics services.

Product overview

Deutsche Börse operates as a multi-platform exchange operator offering a comprehensive financial market infrastructure. The core trading platforms include Xetra (electronic trading for equities and ETFs), Frankfurt Stock Exchange (FWB with specialist auction trading), and Eurex (derivatives exchange). Post-trade services are delivered through Clearstream for settlement and custody. The company has expanded into digital assets via the 360X platform for tokenized securities trading and Crypto Finance for digital asset services. Additional offerings include ISS STOXX (data/analytics/indexes), 360T (foreign exchange), Xentric (consultancy), Market Data + Services, and Xetra Gold (physical gold product). Recent acquisitions include Allfunds (wealth-tech fund distribution) and full ownership of ISS Stoxx. The T7 Trading System serves as the proprietary technology backbone across these platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Xetra Gold: Gold trading and custody services platform
• ISS STOXX
• Crypto Finance
• Market Data + Services

Products and services

• Road to IPO Guided program for companies preparing to go public, providing access to Deutsche Börse's listing venues (Xetra and Frankfurt Stock Exchange) and associated advisory services throughout the IPO process.
• DirectPlace Platform for capital raising and direct placement services enabling issuers to access capital markets and place securities with investors.
• Capital Market Partner Program Deutsche Börse Capital Market Partner network that assists companies seeking to list on the Frankfurt Stock Exchange with advisory and process support throughout the IPO and listing journey.
• IPO & Bell Ringing Ceremony Service allowing companies to celebrate IPO milestones, index ascents, and listing jubilees with a bell ringing ceremony on the Frankfurt trading floor.
• Xetra Electronic Trading Platform Primary electronic trading venue for equities, ETFs, ETPs, bonds, certificates, and warrants. The Xetra Introduction Program for IPOs with Dual Listing supports companies going public on the Frankfurt Stock Exchange.
• Eurex Derivatives Exchange European derivatives exchange offering trading in interest rate, equity index, equity, dividend, volatility, ETF, and commodity derivatives.
• Clearstream Post-Trade Services Post-trade services provider for securities settlement, custody, and asset servicing across international markets. Operations span Frankfurt and Luxembourg.
• ISS STOXX Data & Analytics Provider of data, analytics, and indexes for institutional investors, including ESG data, corporate governance data, index licensing, and voting advisory services.
• 360X Tokenized Securities Platform Trading platform for tokenized securities, enabling 24/7 trading of tokenized equities and ETFs paired against stablecoins. Kraken's xStocks product operates on 360X with tokens including CRCLx, GOOGLx, NVDAx, SPYx, and TSLAx.
• 360T FX Trading Platform Foreign exchange trading platform and solutions provider offering spot, forward, and FX option trading capabilities through a multi-dealer venue.
• Deutsches Eigenkapitalforum Europe's leading conference for corporate finance, hosting IPO roadshows, listing jubilees, and bell ringing ceremonies on the Frankfurt trading floor.

Quantifiable outcome

• Deutsche Börse achieved 9% revenue growth in Q4 2025 with five business units exceeding 10% growth
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature8 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Allfunds GroupcoreStrategic or Co-development Partner · 23 January 2026Deutsche Börse agreed to acquire Allfunds Group for €5.3 billion (€8.80 per share, 32.5% premium) in an all-share and cash deal. The acquisition will combine Allfunds' fund distribution business with Deutsche Börse's Clearstream custody and settlement operations. Shareholders approved the transaction with over 99.9% voting in favor. The deal is expected to close in H1 2027 pending regulatory approvals. Anticipated synergies of €60 million annually and double-digit revenue growth potential within the first full year post-closing.
• KrakencoreStrategic or Co-development Partner · 4 December 2025Kraken and Deutsche Börse Group announced a strategic partnership to integrate traditional financial markets with digital assets. The collaboration includes integration with Deutsche Börse's subsidiaries, development of white-label solutions, and plans to expand access to crypto and derivatives trading cross-regionally. Kraken launched its xStocks product on Deutsche Börse's 360X platform, enabling trading of tokenized equities (CRCLx, GOOGLx, NVDAx, SPYx, TSLAx) paired against stablecoins. The 360X platform has accumulated approximately $20 billion in total trading volume.
• OTC Markets GroupminorStrategic or Co-development Partner · 1 January 2025OTC Markets Group, a US stock trading venue, has struck partnership deals with Deutsche Börse as part of its strategy to target European companies seeking access to US investors without a full NYSE or Nasdaq listing. The partnership positions Deutsche Börse as a bridge between European issuers and US capital markets through OTC Markets' platform.
• Circle Internet GroupcoreTechnology or Integration · 1 January 2025Circle Internet Group, issuer of the USDC stablecoin, has strategic collaborations with Deutsche Börse as part of its efforts to expand stablecoin adoption. The collaboration enables USDC stablecoin pairings for tokenized securities trading on Deutsche Börse's 360X platform, facilitating round-the-clock trading of tokenized equities and ETFs. Circle is preparing to report earnings amid these strategic developments.

Scale indicators8 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• London Stock Exchange Group (LSEG): LSEG operates European cash and derivatives exchanges, post-trade services (LCH), and data/analytics (Refinitiv), making it the closest direct competitor to Deutsche Börse's integrated exchange, clearing, and data stack.
• Euronext: Euronext operates pan-European cash equity exchanges (Paris, Amsterdam, Brussels, Dublin, Oslo, Milan, Lisbon) and clearing, directly competing with Deutsche Börse's Xetra and Frankfurt cash market and post-trade services.
• Cboe Global Markets: Cboe operates European cash equities (Cboe Europe), derivatives, and indices, and is a direct competitor to Xetra in European lit and dark trading as well as benchmark index licensing.

Broad incumbents

• Nasdaq, Inc. Nasdaq is a global exchange operator and market-technology provider (Cinnober, Adenza), competing with Deutsche Börse on European listings, cash trading, and exchange technology such as the T7 system.
• Intercontinental Exchange (ICE): ICE operates global exchanges, clearinghouses, and fixed-income/data businesses, overlapping with Deutsche Börse's derivatives (Eurex), data (ISS STOXX), and fixed-income listing capabilities.
• CME Group: CME is the largest global derivatives exchange, directly comparable to Eurex in interest rate, equity index, and commodity derivatives trading, with deep institutional liquidity.
• Hong Kong Exchanges and Clearing (HKEX): HKEX operates cash and derivatives markets plus clearing and settlement services, comparable in integrated exchange structure to Deutsche Börse, though focused on Asia and Greater China connectivity.
• Japan Exchange Group (JPX): JPX operates the Tokyo Stock Exchange and Osaka Exchange, plus clearing via JSCC, comparable to Deutsche Börse's combined cash + derivatives + clearing model with a regional focus.

Regional players

• SIX Group: SIX operates the Swiss exchange, post-trade infrastructure, and financial data businesses. It is a regional peer within the DACH/European market for cash trading, settlement, and indices competing with Deutsche Börse's domestic stack.

Emerging players

• Tradeweb Markets: Tradeweb operates electronic trading platforms across rates, credit, equities, and money markets. Its electronic trading infrastructure is comparable to Deutsche Börse's T7/Xetra platform and 360T FX venue, particularly in fixed-income and ETF trading.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@deutscheboerseag
• LinkedInlinkedin.com/company/deutsche-boerse-venture-network
• Instagraminstagram.com/boersefrankfurt
• Xx.com/DBVentureNet

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deutsche Börse Venture Network