Deutsche Boerse set out the details of its restructuring program, which is designed to allow the company to achieve the efficiency improvements.

The exchange aims to reduce its cost base by 50 million euros in 2008, and by 75 million euros in 2009. From 2010 onwards, the full potential of the program will be realized with annual savings of 100 million euros. Reduced non-personnel costs will contribute around 95% of the savings in 2008, around 90% in 2009 and 85% from 2010 onwards. These cost cuts will be achieved primarily thanks to process optimization and savings with respect to purchasing and building rentals, it said.

The personnel measures are planned to affect around 300 of the 3,000 positions primarily in Frankfurt and Luxembourg. They will not, however, focus primarily on job cuts. Rather, they involve relocating positions and streamlining amongst others central functions and IT. At the same time, some external services are to be integrated. The number of employees is to remain virtually unchanged.

Certain activities shall be provided from Prague, where the company has had a subsidiary since 2006; this will affect 200 positions. Furthermore, there are plans to reduce the number of positions relating to central functions and IT in order to improve efficiency, while some vacant positions will be cut.

In 2010, after the program and all personnel measures have been realized in full, Deutsche Boerse Group expects its headcount to be similar to what it is today. The company intends to retain its attractive remuneration system, and has no plans to reduce the benefits that it offers.