Deutsche BÃ¶rse AG engages in the operation of cash markets for trading securities, and derivatives markets for trading derivatives contracts. Its activities cover securities and derivatives trading, clearing, settlement, and custody services; market data; and development and operation of electronic trading systems. The company operates through four segments: Xetra, Eurex, Clearstream and Market Data Services. The Xetra segment provides listing, trading, and clearing services for issuers, intermediaries, and investors in the cash market, including German and international issuers, fixed-income securities, exchange-traded funds, exchange-traded commodities, exchange-traded notes, actively managed mutual funds, and certificates and warrants. This segment also organizes trading on the floor of the Frankfurt Stock Exchange, as well as holds interests in Tradegate Exchange, a trading platform for private investors. The Eurex segment offers trading and clearing services for futures and options contracts. This segment operates Eurex Exchange, an electronic derivatives market trading platform; Eurex Clearing, a central counterparty for bonds, on-and-off exchange derivatives, and repo transactions; and International Securities Exchange, an equity options trading platform, as well as European Energy Exchange, Eurex Bonds and Eurex Repo, and over-the-counter trading platforms. The Clearstream segment provides post-trade infrastructure for bonds, equities, investment funds, and other asset classes, as well as offers custody services for securities from approximately 54 markets worldwide. The Market Data and Services segment provides information and services for capital markets comprising real-time trading data and other market moving signals for investors, brokers, trading desks, and algo traders; instrument reference data for risk management, and compliance activities and services for middle and back offices of financial institutions; and IT services to support or facilitate business processes. The company was founded in August 1990 and is headquartered in Eschborn, Germany.