Euronext: Half-Yearly Review Introduction Of Euronext Trading System On Trading In Dutch Shares - Investors Benefit From Higher Turnover And Narrower Spreads

Despite difficult market circumstances, trading in Dutch blue chips and mid-caps on the Amsterdam market remained stable following the introduction of Euronext's cross-border trading system. Turnover in continuously traded small caps doubled, while turnover in small caps traded in auctions rose by 4%.

The average spread (difference between buy and sell prices) for Dutch shares narrowed by between 19% and 40%, leading immediately to lower costs for all investors. Mid-caps and small caps traded with a liquidity provider had significantly tighter spreads than shares traded without liquidity providers.

This information was revealed during an initial analysis conducted by Euronext following the introduction of Euronext's cross-border trading system at the Amsterdam market in October 2001, when the exchanges of Amsterdam, Brussels and Paris were united on a single trading platform based on NSC technology.

Investors and traders are expected to reap the full benefits of the new system after Euronext's clearing and settlement systems are also integrated.