Eurex Bonds Further Expands Product Portfolio With Bubills - Three New Participants On Eurex Bonds

On October 15, Eurex Bonds, the international trading platform of Eurex and leading bond-trading firms, will further expand its product portfolio to include German Treasury discount notes, so-called Bubills. With the introduction of the Bubill segment, Eurex Bonds is rounding out its product offerings in tradable German government bonds. All German government bonds with maturities in the range of six months to 30 years will then be tradable on Eurex Bonds. Eurex Bonds will also make a market-making program available in this segment in order to provide for sufficient liquidity. Eurex Bonds is also steadily expanding its participant network: Three new trading participants--WGZ-Bank, Société Générale S.A. and Citigroup Global Markets Limited--have been admitted to trading on Eurex Bonds since early September, the derivatives exchange organization reported on Friday.

This brings the number of participants active on Eurex Bonds to a total of 26, including the German Finance Agency and the German Bundesbank, which make use of this platform exclusively. Interest in the bond-trading platform continues to be strong among many international participants, Eurex said. Eurex Bonds, like Eurex Repo, rounds out the derivatives exchange's portfolio of products and services in the fixed-income segment.

Moreover, the electronic bond-trading platform for German government bonds posted in September its highest monthly turnover for the current year: Trading activity by the market participants on Eurex Bonds increased more than 50 percent compared with the same month of last year. Eurex Bonds turned over 18.6 billion euros (single counting) in September, as compared with 12 billion euros in September 2002. The turnover figure for September 2003 corresponds to a daily average of 845 million euros traded.

The electronic fixed-income trading platform Eurex Bonds offers trading and clearing in German government bonds as well as in issues of the KfW (Kreditanstalt für Wiederaufbau), the European Investment Bank and individual German states, and also in Jumbo-Pfandbrief issues. Moreover, with its basis-trading facility, Eurex Bonds provides an attractive product combination of bonds and futures contracts traded at Eurex.

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