Michael G. Mcerlean To Join Eurex's U.S. Management - Former Goldman Sachs Manager To Help Develop New U.S. Exchange Business

Michael G. McErlean (42) will join the Eurex-U.S. management team. McErlean, previously Global Co-Head of Futures Services at Goldman Sachs, will be based in Chicago. With this new hire Eurex, the world's largest derivatives exchange, continues to add further US expertise for the launch of a registered U.S. exchange. The new exchange will offer a full range of derivatives on U.S. interest rates, indexes and equities and be operative in early 2004.

Rudolf Ferscha, CEO of Eurex said: "Michael brings a wealth of experience in developing a leading global futures franchise and will work together very closely with our U.S. business partners as well as regulatory and industry bodies in the U.S. He will reinforce and further strengthen our successful team in Chicago."

McErlean, a former board member of the London International Financial Futures Exchange and the Singapore International Monetary Exchange, has been a Board Member of Brokertec Clearing Corporation since 2001 and has been Chairman of the Futures Industry Association UK since 2002. Further, he has been an Executive Board Member of the Futures and Options Association since 2001 and has served on numerous international industry associations and committees.

His career at Goldman Sachs had included roles such as Co-Manager of Exchange Execution Services at the Chicago Board of Trade (1989-1992), Head of Futures Services Asia (1992-1996), Head of Futures Execution Services Asia and Europe (1997-2000).

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