Deutsche Börse today delivered the good news that the exchange's profits are up 36% for the quarter. But for today, profits were just a sideshow. The German exchange appeared more concerned about promoting itself as a master cost-cutter with the results reading like a not-so-subtle marketing pamphlet.

It is, of course, currently embroiled in a battle with Nasdaq OMX and IntercontinentalExchange to acquire NYSE Euronext in an increasingly public battle.