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German stock exchange agrees to pay $12.5-million fine to drop insider trading probe

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Germany-based securities marketplace Deutsche Boerse A.G. has agreed to pay a €10.5 million ($12.5 million) fine for prosecutors to drop an investigation into its chief executive, Carsten Kengeter, and its role in alleged insider trading, The Telegraph reported. Prosecutors launched the probe into Mr. Kengeter's actions related to the purchase of €4.5 million worth of Deutsche Boerse stock in December 2015. The investigation centered on whether Mr. Kengeter bought the shares while Deutsche Boerse was in confidential talks with the London Stock Exchange P.L.C. about a proposed merger.

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