Eurex Bonds Offers World's First Bond Indices On Trading Data

On December 18, 2002, Eurex Bonds, the international electronic platform for trading in fixed-income securities, will launch a new index family with Deutsche Börse, initially comprising ten German bond indices. The new indices for fixed-income German federal bonds are based on prices for trades completed on Eurex Bonds as well as binding bid and ask prices. Deutsche Börse will use these data to calculate the bond indices minute by minute and disseminate them via the exchange's own data distribution system, CEF (Consolidated Exchange Feed). In derivation from the company name eurex bonds, the index family has the name eb.rexx. eb.rexx are the world's first bond indices based on traded and publicly available prices. Subscription to the indices is free of charge.

The eb.rexx index family is calculated in accordance with the EFFAS (European Federation of Financial Analysts Society) standards valid in Europe and meets the demand for transparent and easily replicable indices. Due to the high transparency and liquidity of the Eurex Bonds trading platform, eb.rexx offers institutional market participants an ideal basis for attractive financial market instruments like exchange-traded funds or derivatives, Eurex Bonds said. Negotiations between potential licensees and Deutsche Börse indicate that the first products can be expected to be introduced as early as the beginning of next year.

In addition to a overall index on German government bonds, Deutsche Börse will launch indices for the maturity segments between 1.5 and 10.5 years as well as more than 10.5 years. All indices will be offered as price and performance indices. Eurex Bonds and Deutsche Börse have already been making real-time trading data available outside of the trading environment, free of charge, since September 2, 2002. This means that currently tradable prices and volumes (best-ask and best-bid) as well as trading data from completed trades (last market price) are also available to a broad public. Eurex Bonds is enhancing the transparency of its platform with these trading data, thus bringing a new quality to trading in German government bonds. The increasing attractiveness of the Eurex Bonds trading platform, as shown by the strong rise in liquidity and turnover, has led to a growing demand for Eurex Bonds price data, Eurex Bonds reported.

The electronic bond-trading platform Eurex Bonds is operated jointly by Eurex and major bond-trading houses. Eurex Bonds offers trading and clearing in German government bonds and, since the beginning of 2002, also in new issues by the KfW (Kreditanstalt für Wiederaufbau), the European Investment Bank and individual German states as well as Jumbo Pfandbriefe. Moreover, with the basis-trading facility, Eurex Bonds provides an attractive product combination of bonds and futures contracts traded at Eurex.

Maturities of the New German Bond Indices (Price and Performance Indices with Updates Every Minute)

eb.rexx Germany (Price)
eb.rexx Germany (Total Return)
eb.rexx Germany 1.5-2.5 (Price)
eb.rexx Germany 1.5-2.5 (Total Return)
eb.rexx Germany 2.5-5.5 (Price)
eb.rexx Germany 2.5-5.5 (Total Return)
eb.rexx Germany 5.5-10.5 (Price)
eb.rexx Germany 5.5-10.5 (Total Return)
eb.rexx Germany 10.5+ (Price)
eb.rexx Germany 10.5+ (Total Return)

Further information from the Gruppe Deutsche Boerse is available under http://www.media-relations.deutsche-boerse.com.