Deutsche Boerse CEO says insider trading allegations will prove unfounded

[FRANKFURT] Deutsche Boerse Chief Executive Carsten Kengeter said insider trading allegations against him would prove unfounded, given he had no role in determining the timing of his share purchases ahead of the announcement of merger plans with the London Stock Exchange.

"We, Deutsche Boerse and myself, are fully cooperating with the public prosecutor. I am certain that, following detailed investigation, the allegations will turn out to be unfounded," Mr Kengeter said at a news conference to discuss the exchange operator's annual results.

"When I purchased the shares using my own funds, I did not do so at a time of my own choosing. I did so between 1 and 21 December 2015 within a time-frame fixed by the Supervisory board," Mr Kengeter said, adding that the shares were subject to a holding period until the end of 2019.

Mr Kengeter said the company was pursuing its merger with LSE and that he was engaged in a "constructive dialogue" with policymakers in Hesse, the German state where Deutsche Boerse is headquartered.

REUTERS