Deutsche Börse

Collaboration Partner | January 2024 – Present

Deutsche Börse – SNSF Narrative Digital Finance Partnership

Since January 2024, the collaboration with Deutsche Börse’s Quantitative Research team forms a key industry partnership within the Swiss National Science Foundation (SNSF) Narrative Digital Finance project (CHF 236,118, November 2023 – July 2025). This partnership is also connected to the Marie Sklodowska-Curie Actions Industrial Doctoral Network on Digital Finance.

Research Focus

The joint research investigates the role of narratives, structural breaks, and bubbles in digital financial markets. The collaboration focuses on two primary areas:

• High-frequency trading and market microstructure – analysing reaction times to economic news and informed trading ahead of macro-news announcements using Deutsche Börse market data.
• Narrative digital finance – applying AI and natural language processing techniques to understand how narratives influence financial market dynamics.

Key Research Outputs

Current work-in-progress papers from this collaboration include:

1. Osterrieder, J., & Schlamp, S. (2025). Reaction times to economic news in high-frequency trading: An analysis of latency and informed trading ahead of macro-news announcements.
2. Taibi, G., Schlamp, S., & Osterrieder, J. (2024). Nanoseconds traders: How ultra-fast and high-frequency traders reshape market microstructure.

Summary

The Deutsche Börse partnership provides access to high-frequency market data and quantitative research expertise, enabling empirical investigation of market microstructure phenomena at the nanosecond level. This collaboration bridges academic research with exchange-level data infrastructure to advance understanding of modern electronic markets.