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Deutsche Börse targets M&A for growth

Deutsche Börse AG is on the lookout for deals to grow its business, although it has ruled out a mega-tie-up following its failed merger with London Stock Exchange Group PLC two years ago, Financial News reported.

During an event in London on May 22, CEO Theodor Weimer said the company's focus in 2019 is on big transactions to gain further scale. He also said that the group is falling behind its rivals in selling products to fund managers, and expects that the acquisition of U.S.-based analytics service Axioma will help aid in that area.

Weimer added that there is room for more deals in the foreign exchange and commodities markets, following its acquisition of FX platform GTX ECN and energy certificate registry provider Grexel Systems.

However Gregor Pottmeyer, the group's CFO, stressed during the same event that it would not attempt to secure a merger with another major exchange.