Theodor Weimer used the word data 31 times in his 31-minute speech at the Deutsche Börse AGM.

So on average once every minute.

It should be clear to every listener what is crucial for the future of Deutsche Börse.

This was visually underlined at the digital event by a sculpture that was displayed next to the CEO: What at first glance looked like an ice flower was supposed to stand for a large number of data points.

From the root to the leaves, which are supposed to stand for the performance of various data curves, as the explanations in the annual report say, which the sculpture also adorned.

Daniel Mohr

Editor in the economy of the Frankfurter Allgemeine Sunday newspaper.

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"Data is our new raw material," said CEO Weimer: "Probably the only one that grows faster the more you need it." The stock exchange itself, with its many prices and indices, is a large data producer and earns a lot of money with it.

At the same time, Weimer emphasizes that raw data is like a jumble of words that need a clean grammatical form to make them speak.

Data analysis is therefore the magic word with which the stock exchange wants to earn even more money in the future, and that reliably regardless of price fluctuations on the markets.

The course of MSCI, the world's largest index provider, shows how enthusiastic investors have been about data providers in recent years.

Its share price had increased thirty-fold within nine years to a market value of 50 billion euros.

The company makes less profit and sales than Deutsche Börse.

But profit margins and growth are impressive and above all the potential of the data treasure was given almost immeasurable value.

Recently, however, the rating has dropped by a good third.

At 31 billion euros, the market value is again on par with the German stock exchange.

An opportunity for Weimer and his company.

Not for an acquisition by MSCI.

That would probably still be too expensive and Weimer reiterated his attitude of not wanting to embark on “adventures”.

In his answers to shareholder questions about takeovers, however, he noted that the ratings in the data & analytics area had declined significantly.

So far, the high prices have been seen as an obstacle to further takeovers.

Cum-Ex as a sensitive topic

The valuation of Deutsche Börse itself is close to its record high.

Accordingly, the shareholders had nothing to complain about.

Growth is intact, the most recent takeovers, such as that of the data provider ISS, which specializes in sustainability, are going better than planned.

A good 3000 spectators tuned in to the digital event.

Only six shareholders submitted questions.

The exchange's involvement in cum-ex is the most uncomfortable point raised.

Weimer admitted that the investigations by the Cologne public prosecutor's office had now extended to several current and former employees and board members of subsidiaries.

However, the stock exchange still sees no indications of breaches of duty and trusts its commissioned legal opinions.

Three of the six board members were currently tested positive for corona and were unable to attend the general meeting.

This approved all of the company's proposals with a large majority, including a dividend increased by 20 cents to EUR 3.20.

The stock exchange had increased its annual targets after a strong first quarter.

Weimer indicated that things will probably not go on quite as energetically.

Supervisory Board Chairman Martin Jetter was satisfied with the developments and emphasized the role of Deutsche Börse as a pioneer and designer of digital products such as tokens, a market in which the stock exchange will guarantee a high level of security.