The Company expects operating cash flow to remain positive. As part of its cash flow from investing activities, Deutsche Börse plans to invest around €80 million per year in intangible assets and property, plant and equipment in the forecast period (2007: €79.7 million). These investments will serve primarily to develop new and enhance existing products and services in the Xetra, Eurex and Clearstream segments.

Under the capital management program, Deutsche Börse aims to distribute the full amount of its profit to shareholders in the forecast period – subject to investment plans. For financial years 2008 and 2009, it intends to continue its progressive dividend policy and distribute 40 to 60 percent of net income for the year to shareholders. The remaining funds are earmarked for the continued repurchase of own shares.