Deutsche Boerse aligns derivatives businesses under new leadership

Clearstream chairman and member of the executive board of Deutsche Boerse Jeffrey Tessler will head up the combined derivatives units of the German group in a new setup for 2016.

The Clients, Products and Core Markets division will combine the businesses of Eurex Clearing, International Securities Exchange and Clearstream.

The aim of the integration is to be able to offer its customers services across all the businesses, which used to operate separately under the Deutsche Boerse umbrella.

Clearstream has been a rapidly growing brand for the German group in recent years and Tessler will continue to run its settlement and custody business.

Marc Robert-Nicoud, CEO of Clearstream Holdings, explained that the new division stemmed from new Deutsche Boerse CEO Carsten Kengeter’s agenda, which was one of “aggressive growth”.

“It’s a rebalancing of the activities of Deutsche Boerse,” says Robert-Nicoud.

“There’s an expectation in the group to do new things and deliver on the promise of the integrated offering of Deutsche Boerse.

“You have Eurex, Clearstream and Eurex Clearing which are all valid parts of the group and all successful in their own right but what is the value added of having them together? That’s what drove the changes. It was a realisation that if we want to grow as much as we can we need to have a common face for the customer and talk to them for all the core businesses.”