Deutsche Börse

Deutsche Börse runs the machinery behind Germany's capital markets, from the Xetra stock exchange and the Eurex derivatives platform to the Clearstream settlement business and, increasingly, data and software through ISS and SimCorp. Much of its revenue is recurring, and market volatility tends to lift trading volumes, which gives it a rare quality: it can do well when markets are nervous. This is a structural grower rather than a high yielder. Deutsche Börse has raised its dividend for well over a decade without a cut, funding those increases from expanding, capital-light profits. The combination of dependable growth and a resilient business model earns it one of the strongest DiviScores in the index.