Eurex Expands Euro Repo Facility - New Functionality Enables Selection Of Certain Repo Securities - Thirteen Participants Admitted

Eurex, the international exchange organization, wants to expand its facility for the fully electronic euro repo market further. As of December 17, Eurex Repo is making a so-called Auto-GC Completion functionality available to the market. This functionality supports the participants in active delivery management and will further simplify the Euro GC (General Collateral) repo business: The participants can specify their portfolio in German government securities and jumbo Pfandbrief issues for GC repos in advance on a list that is specifically geared to their trading strategies, and can thus select a defined number of specific securities for delivery. Up to now, large volumes in general collaterals have been traded mainly over the phone (interbank market) or through an intermediary (brokers). With the new functionality, Eurex Repo wants to make trading on its electronic platform even more attractive and thus make a further contribution to standardization of the GC markets.

In order to secure the smooth operation of the Auto-GC Completion functionality, Eurex Repo is using Eurex Clearing AG, which functions as the central counterparty for the buyer and the seller. Eurex is the only exchange organization worldwide that makes all clearing services available to the market for the entire fixed-income segment, in addition to trading. In the meantime, 13 banks have been admitted to trading at Eurex Repo, which was launched in July with eight participants. The trading participants' interest as well as the trading volumes outstanding have been rising steadily ever since, the exchange organization reports. It said that seven further international banks have decided in favor of trading through the Eurex Repo platform and most of them are in the connection process. Eurex Repo is open for all financial institutions to join that meet the conditions for admission to trading and clearing.

Eurex offers euro repo trading with German government bonds and jumbo Pfandbrief issues as general collateral for secured fund-raising and special repos for the lending and borrowing of certain securities with maturities ranging from one day to 365 days.

With euro repo trading, Eurex has rounded out its offerings in fixed-income products with regard to instruments, maturities and services. Eurex offers the full spectrum of products on its platform, from cash trading and futures to repos with maturities ranging from one day to 30 years. The Eurex Repo platform has been successful in the Swiss franc repo market since June 1999 with over 100 participants. It is based on modern Internet technology, which facilitates handling as well as access for its participants.

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