Markets operator Deutsche Börse has announced that it has hired experienced markets executive Paul Hilgers to become Managing Director of Deutsche Börse’s cash market business, effective September 1. In this position, Mr. Hilgers will report directly to Thomas Book, Executive Board Member of Deutsche Börse Group.
From July 1, Mr. Book’s area of responsibility, Trading & Clearing, will encompass all of Deutsche Börse’s trading and clearing platforms. In addition to the cash market, this includes the derivatives exchange Eurex, Eurex Clearing, the FX platform 360T and the energy and commodity business of EEX Group. The cash market segment comprises, among others, the Xetra market, the Frankfurt Stock Exchange, the primary market business and the Deutsche Börse Venture Network.
“The cash market is the nucleus of Deutsche Börse and of special importance for the financial centre and the German economy. We want to further expand the strength in our home market and position ourselves even better internationally. With Paul Hilgers, we succeeded in hiring an internationally experienced manager as head of our cash market, who is completely aware of our customers’ needs and has a deep understanding of the European market structure”, says Thomas Book.
“By bundling all asset classes, our customers will also benefit from further synergies on our trading and clearing platforms. Together, we will focus even more on finding innovative answers to the structural changes in the markets”, Book continues.
Paul Hilgers explained with regard to his new position:
“I am really looking forward to my new role at Deutsche Börse, which I have known for years from a customer perspective. The cash market is a versatile business area with a significance and appeal far beyond the trading business”.
Paul Hilgers has almost 30 years of capital market experience. He started his career in the early nineties as a trader on the derivatives market. In 2003, he took over the management of the European trading business at Van der Moolen in Amsterdam. In 2005, Mr. Hilgers became Commercial Director for Fortis Clearing Asia Pacific in Sydney. Two years later he joined Amsterdam-based Market Maker Optiver as Director of Market Structure Asia Pacific, where he was promoted to CEO Asia Pacific in 2010. He was CEO of Optiver from 2014 to 2017. At present, Paul Hilgers is still a member of the Supervisory Board of European central counterparty EuroCCP.