Deutsche Börse – AGM 19 May 2020
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by (electronic) postal vote or by granting authority to the proxies designated by the Company.
Item 8: We recommend to oppose the approval of the remuneration system for the Management Board members due to our concerns over the insufficient disclosure on future remuneration amounts and the structure of remuneration that may be paid to Management Board members.
Item 11: KPMG, Berlin, is proposed as auditor for the current financial year. We have no concerns over the ratio of non-audit/audit fees. However, we note that KPMG has audited the Company since the financial year 2001 which exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of KPMG as auditor.
Deutsche Boerse is a financial services provider. Co.'s segments include Eurex, which comprises areas such as T7 electronic derivatives market trading platform, T7 electronic options trading platform, and Eurex Repo® over-the-counter trading platform; Xetra, which comprises areas such as cash market, the Specialist trading, and Eurex Bonds® OTC trading platform. Clearstream, which comprises custody and settlement services, securities financing services and collateral management, and investment funds services; and Market Data + Services, which comprises areas such as Distribution of licenses for real-time trading and market signals, and development and sales of indices.
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