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Deutsche Börse: Partners Make U.S. Segment Even More Attractive For Retail Investors - Eleven Xetra US Partners Offer Private Investors U.S. Equities At Domestic Conditions - Xetra Live Makes Trading Transparent

Date 04/09/2001

Deutsche Börse has gained further partners, who will be making the new segment for U.S. stocks even more attractive, especially for retail investors. Eleven so-called "Xetra US Partners" will offer trading in the some 200 U.S. stocks to private investors at the same conditions as trading in German securities. The Xetra US Partners will thus be passing on the benefit of low trading fees in the Xetra US Stars to their customers. The smallest order size for private investors is one share. The Xetra US Partners are Advance Bank AG, Bankhaus Reuschel & Co., BHF-Bank AG, Börsenmakler Schnigge AG, Citibank Privatkunden AG, comdirect bank AG, DAB Bank AG, DG BANK and GZ-Bank (DZ BANK in the future), Fimatex S.A., Bayerische HypoVereinsbank AG and Postbank easytrade. The Xetra US Partners manage a total of about 5 million private investor portfolios.

When the segment is launched on September 14, the Xetra US Stars will also be online on the Internet information screen, "Xetra Live". Xetra Live is an emulation of the Xetra trading screen. Private investors can see the entire orderbook in real time and with market depth and every order in the Xetra US Stars segment by mouse click. Market depth displays the top ten bid and ask offers on Xetra.The information screen is available to users free of charge until the end of the year via www.deutsche-boerse.com in the section Market Data/Xetra Live.

Deutsche Börse, Eurex and Clearstream International will offer trading and settlement for U.S. equities, exchange-traded index funds and equity options on a joint basis. In the "Xetra US Stars" segment, all U.S. stocks in the Dow Jones Industrial Average, S&P 100, Nasdaq 100 and Dow Jones Global Titans 50 will be tradable as of September 14. Trading in euro-denominated equity options on U.S. stocks at Eurex starts on September 24 with options on AOL Time Warner, Cisco Systems, Citigroup, EMC, General Electric, IBM, Intel, Microsoft, Oracle and Sun Microsystems. The trades will be cleared and settled through Clearstream International. As of September 14, Dow Jones will calculate the Dow Jones Industrial Average (DJIA) and the Dow Jones Global Titans 50 from Frankfurt Xetra prices before the market opens in the United States.

In the cash market, Goldman Sachs and Morgan Stanley will function as U.S. Market Experts making markets in Xetra US Stars and providing liquidity. US Market Experts continuously quote binding bid and ask prices for a minimum value of 50,000 euros per quote. Baader Wertpapierhandelsbank AG, Finacor Rabe AG and Wertpapierhandelsbank Seydler AG, with their experience as lead brokers in the German market, will also be functioning in this capacity.