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Dutch Equity Segment On Xetra To Be Launched On November 17 - Two New Dutch Participants; Several Banks Support Trading In Dutch Equities On Xetra; Lowest Trading And Clearing Fees In Europe

Date 13/11/2003

On November 17, as previously reported, Deutsche Börse will be launching its new segment for Dutch equities on the Xetra electronic trading system. More than 300 banks and financial institutions will be able trade all 25 equities in the Dutch equity index AEX25 continuously on the world's largest exchange network. With its new segment, Deutsche Börse is offering its participants a tailormade alternative for trading in Dutch equities. Against the background of this service offer, Dutch financial-services providers Eduard de Graaff and Nyenburgh have decided in favor of trading on Xetra, bringing the total of Dutch brokers and financial services providers trading on Xetra to 21. After UK-participants, they are the largest group of international participants on the pan-European trading platform.

A large number of banks support the Dutch segment and make trading in the AEX25 equities more attractive for private investors. Comdirect Bank, DZ Bank, Entrium, Fimatex and HVB Bank guarantee investors trading in AEX25 equities at the same fees as trading in German equities. A large proportion of these banks has agreed not to charge investors for partial executions in the trading of AEX25 equities. Deutsche Börse does not charge any fees for partial executions on Xetra as a matter of principle.

As already announced, five market makers have a binding commitment to provide for high liquidity in the trading of Dutch equities and thus make trading more attractive. The securities trading firms International Marketmakers Combination, Optiver, Van der Moolen Amsterdam, Archelon Deutschland and Timber Hill will quote binding bid and ask prices continuously on Xetra.

Deutsche Börse is lowering the clearing fees for trading in the AEX25 equities to the level for German equities. In order to facilitate the access for new participants to the Xetra electronic trading system, moreover, Deutsche Börse is refunding part of the fees and bearing the costs of the technical connection to Xetra for new customers. This makes Deutsche Börse the lowest-cost provider for trading and clearing in Dutch equities.