Deutsche Börse Reporter Online - July/August 2004

Please find attached the July edition of "Reporter Online", the monthly online newsletter of Deutsche Börse Group. We recommend that you use Acrobat Reader 6.0 to view the PDF file.

Contents of the current edition:

CASH MARKET
Börse Frankfurt Smart Trading: best price guarantee from 9 a.m. to 8 p.m.

DERIVATIVES MARKET
New future on Dow Jones Italy Titans 30

CLEARSTREAM
Core businesses with strong growth
CreationDirect via Internet

DEUTSCHE BÖRSE AG
New management members

MARKET OPINION
Russian Equities on Xetra