Deutsche Börse is headquartered in Frankfurt and operates Germany’s Xetra trading system.
Deutsche Börse AG is a major German exchange organization and financial-market infrastructure provider. Xetra is its electronic trading platform for German equities and exchange-traded funds, and it is one of the principal venues for trading securities listed in Germany.
The group also operates Frankfurter Wertpapierbörse, commonly called the Frankfurt Stock Exchange, as well as derivatives, clearing, settlement, and market-data businesses. Its best-known equity index is the DAX, which tracks major companies listed in Germany under its own rules.
A frequent mix-up is using “Frankfurt Stock Exchange” and “Deutsche Börse” as exact synonyms. Frankfurt Stock Exchange is the trading venue, while Deutsche Börse is the corporate group that operates it and several other financial-market businesses. Xetra is an electronic platform within that wider structure.