< The 2015 Tech 50: Racers to the Edge

As the first major stock exchange operator to go digital — it introduced the first fully electronic derivatives market in the late 1980s — Deutsche Börse has information technology in its DNA. Hauke Stars, the former Hewlett-Packard Co. executive who took charge of the group’s information technology, market data and services at the end of 2012, is turning that core competence into an engine of growth. Driven by its algorithmic news and data feed AlphaFlash and real-time data services for the group’s power-trading subsidiary, European Energy Exchange, Stars’ division grew revenue at a company-leading rate of nearly 20 percent in the first quarter of this year. She is targeting emerging markets for future growth. Frankfurt-based Deutsche Börse said in May that it is working with the Shanghai Stock Exchange and the China Financial Futures Exchange to develop renminbi-based derivatives for international investors, and in March it agreed with China Construction Bank to explore a potentially extensive collaboration that includes posttrade and custody services for the offshore renminbi market in Europe. The pace of change demands continuous adaptation, and to that end Stars, 48, last year launched Open Innovation, a program designed to attract external partners to share ideas and incubate promising technologies and business ideas. “Next-generation technology is highly relevant for Deutsche Börse, which is, after all, an IT company,” she says. “To stay in the lead in this fast-changing and highly competitive market, we need to work with the smartest minds in the business.”

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The 2015 Tech 50

1. Jeffrey Sprecher Intercontinental Exchange 2. Catherine Bessant Bank of America Corp. Solana vs. Bitcoin vs. Ethereum: How Do They Compare? Sponsored by CME Group April 29, 2025 3. Phupinder Gill CME Group 4. Lance Uggla Markit 5. Robert Goldstein BlackRock

6. Shawn Edwards & Vlad Kliatchko Bloomberg 7. R. Martin Chavez Goldman Sachs Group 8. Deborah Hopkins Citi Ventures 9. Stephen Neff Fidelity Investments 10. Adena Friedman Nasdaq OMX Group

11. David Craig Thomson Reuters 12. Daniel Coleman KCG Holdings 13. Michael Spencer ICAP 14. Michael Bodson Depository Trust & Clearing Corp. 15. Charles Li Hong Kong Exchanges and Clearing

16. Chris Concannon BATS Global Markets 17. Christopher Perretta State Street Corp. 18. Antoine Shagoury London Stock Exchange Group 19. Kevin Rhein Wells Fargo & Co. 20. Neil Katz D.E. Shaw & Co.

21. Lee Olesky Tradeweb Markets 22. Richard McVey MarketAxess Holdings 23. Seth Merrin Liquidnet Holdings 24. Robert Alexander Capital One Financial Corp. 25. Frank Bisignano First Data Corp.

26. John Marcante Vanguard Group 27. Joseph Squeri Citadel 28. Lou Eccleston TMX Group 29. Claude Honegger Credit Suisse 30. Chris Corrado MSCI

31. David Gledhill DBS Bank 32. John Bates Software AG 33. Michael Cooper BT Radianz 34. Gary Scholten Principal Financial Group 35. Sunil Hirani trueEX Group

36. Hauke Stars Deutsche BÖrse 37. Brian Conlon First Derivatives 38. Jim Minnick eVestment 39. Lars Seier Christensen & Kim Fournais 40. Tyler Kim MaplesFS

41. Jim McGuire Charles Schwab Corp. 42. Steven O'Hanlon Numerix 43. Sebastián Ceria Axioma 44. Yasuki Okai NRI Holdings America 45. Stephane Dubois Xignite

46. Mazy Dar OpenFin 47. Brian Sentance Xenomorph Software 48. Mas Nakachi OpenGamma 49. John Lehner BNY Mellon Technology Solutions Group 50. Jock Percy Perseus