Deutsche Börse officially opens its Prague office

 The new centre will be contributing to the software development of the trading and clearing systems of Deutsche Börse Group. The Czech branch currently employs 40 software developers, it aims to hire 150 IT experts by the end of 2008.

“Finding 150 software engineers that would suit our needs is never an easy task. The Czech Republic is best suited to meet our demands,” says Michael Kuhn, CIO of Deutsche Börse Group. “We will support the development of the Group’s IT applications from Prague and deploy major tasks that are currently outsourced to external providers.”

”We have moved into new offices to have sufficient space for our servicing staff,” explains Jaromir Stiller, managing director of Deutsche Börse Services. “In general, the Prague office was established in May 2006.” Deutsche Börse Services adds to the existing IT centres in Frankfurt and Luxembourg. A fast connection between all three centres was indeed one of the main criteria for the investment.

“We were looking for a place that would be close to all our employees. In the end, we were convinced by dealings in the Czech Republic as represented by its Business Development Agency CzechInvest”, explains Michael Gassmann, managing director of Deutsche Börse Services. “Further, being a highly technological company we qualified for support provided by the Ministry of Industry and Trade.”

“The Deutsche Börse Group was deciding between several Central European countries. Due to the fact that it is one of the world’s largest exchange organizations and is one of Germany’s most successful companies, we were really pleased to welcome it to the Czech Republic,” says Tomas Hruda, CEO of CzechInvest. “We are witnessing a trend that is shared by all developed countries throughout the world – ever more investors are undertaking sophisticated projects that do not necessarily cost huge amounts of money but still produce high added value. These changes are reflected in the new set of rules for state aid that were only recently amended by the Ministry of Industry and Trade to suit the needs of the knowledge economy even better .”

More about Deutsche Börse Group:

Deutsche Börse Group is a leading service provider to the global securities industry with products and services for issuers, investors, intermediaries and data vendors. The Group covers the entire securities process chain from trading over clearing all the way to settlement and custody. Deutsche Börse Group is also a provider of IT solutions and an insourcing partner for the global securities industry as well as a leading provider of market data and analytics.

Currently, Deutsche Börse Group has around 3,000 employees. Among other activities the group operates Germany’s largest stock exchange in Frankfurt/Main and the world largest derivatives exchange Eurex.