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Euronext Cash Market Introduces A Harmonised, Up-To-Date Fee Structure To Be Implemented On 1 January 2004

Date 07/07/2003

Euronext announces today that it will implement a harmonised and up-to-date fee structure for its cash trading activity. This new fee structure will be effective on the 1st January 2004 on Euronext Amsterdam, Brussels and Paris cash markets . Euronext Lisbon will fully adopt this new fee structure in October 2004, one year after its migration on the NSC trading system.

The roll-out of NSC, Euronext single cash trading platform, in May 2001 in Brussels and in October 2001 in Amsterdam was accompanied by a first harmonisation of fees but with a number of special measures per country. This new unified fee structure offers a level playing field, takes into account the strong growth of trading related volume and increases our competitive positioning.

This tariff structure, offers in general important fee reductions for our members; these are possible owing to the strong ongoing cost synergies following the complete harmonisation of cash trading and cash clearing platforms.

5 different tariff packages are distinguished, depending on the type of activity of our members and a special tariff for proprietary and arbitrage trading activities is introduced. A new member status specially designed for small volume members is also proposed.

This new tariff structure has been elaborated in co-operation with members from all the Euronext locations. Each member will be contacted starting in the week of July 7th, and we will help each member to choose the most appropriate tariff package based on its profile.

George Möller, Chief Operating Officer responsible for Cash & Listing at Euronext says: "We will now offer a harmonised fee structure for all Euronext markets and members, making sure to offer a level playing field. Therefore, this harmonisation is a major milestone in the building of Euronext's unified cash market".

The Euronext single and up to date cash fee structure will be beneficial for members, and continue to improve the liquidity of markets. The introduction of a special tariff for trading related activities will contribute to further increase the volumes on our cash markets.