Frankfurt Deutsche Börse Group Moves to Prague

One of the largest world stock exchanges will open a new IT development centre in Prague. The capital city will thus become the third largest centre of Frankfurt Deutsche Börse Group after Frankfurt and Luxembourg. Software centre will be developing new IT programmes for the whole group of German stock exchange. Its future role will also be internalizing some of the formerly external tasks.

The software centre is expected to employ around 40 experts in the course of this year. The total number of staff members was said to rise up to 150 till the year 2008. The Czech Stock Exchange does not fear the drain of its own experts because it utilizes a different system. This move by its German counterpart is therefore equivalent to an arrival of any other foreign investor from the IT area.

A careful economic comparison of potential locations in several central European countries showed that Prague was the best choice given the level of human capital of Czech IT professionals. Not only does Prague represent a place with highly qualified IT experts but the future employees also meet the requirements concerning knowledge of English and German languages.

This move by German Börse confirms that Prague becomes increasingly in the spot light of foreign investors.