Deutsche Börse lifts outlook as derivatives growth strengthens third-quarter earnings

Deutsche Börse raised its 2026 revenue and earnings outlook on 20 October after quarterly growth in derivatives activity and a recovery in treasury income.[1]

The strongest trading contribution came from financial derivatives. The presentation published ahead of the 21 October investor call reports €357 million of revenue in that business, up 30%. Its fixed-income component grew 48% to €181 million, encompassing interest-rate derivatives, OTC clearing and repo. FX and Digital Assets revenue, including 360T activities, rose 13% to €51 million; the company points to continued client wins.[3]

That mix matters to brokers and infrastructure suppliers because the growth reaches beyond cash-share trading. The presentation also attributes stronger fund processing to higher assets under custody and settlement activity, while Securities Services benefited from retail settlement demand. These are different revenue channels within the same group, exposed to client flows, asset levels and transaction activity in different ways.[3]

The revised annual forecast places treasury result above €0.8 billion, previously above €0.7 billion. Total net revenue is now expected to exceed €6.5 billion, against more than €6.4 billion before, and total EBITDA to reach around €3.9 billion, previously more than €3.8 billion. Excluding treasury result, the targets remain approximately €5.7 billion of revenue and €3.1 billion of EBITDA, with potential to exceed the revenue figure slightly.[2]

Management is scheduled to discuss the results at its analyst and investor conference on 21 October at 14:00 Central European Summer Time.[4]

Report an error or submit an update