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Deutsche Boerse spokesman confirmed that offices of its
Clearsteam subsidiary were searched, adding that the
investigation was focused on both clients and staff.
"As in the past, Deutsche Boerse is fully cooperating with the
authorities," the spokesman said.
Handelsblatt first reported the raids, adding that Clearstream
apparently played a key role in the illegal dealings.
The investigations focus on a practice, known as cum-ex, which
involves cross-border trading of company shares around a
syndicate of banks, investors and hedge funds to create the
impression of numerous owners, with each entitled to a tax
rebate.
The investigation into the scheme began as far back as 2013.
Prosecutors have said the practice misled the German government
into paying tax refunds that have cost the country billions of
euros.
(Reporting by Arno Schuetze, editing by Riham Alkousaa)
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