Paul Hilgers has been Managing Director of Deutsche Börse's Cash Market business since September 2020 and is a member of the Management Board of the Frankfurt Stock Exchange. He has almost 30 years of capital market experience, starting his career as a trader on the derivatives market. In 2003, he took over the management of the European trading business at Van der Moolen in Amsterdam. In 2005, Hilgers became Commercial Director for Fortis Clearing Asia Pacific in Sydney. Two years later he joined Amsterdam-based Market Maker Optiver. Hilgers was CEO of Optiver from 2014 to 2017.