"The quality exchange for Central and East European stocks has overcome the last hurdle and meets all requirement for the market launch on 3 November 2000" said Mr. Erich Obersteiner, member of the board of NEWEX, on 7 September 2000 at the "21st Bürgenstock Meeting" in Bürgenstock, Switzerland.
The NEWEX core markets are the Czech Republic, Hungary, Poland and Russia. Market participants come from Germany, Austria and the U.K.. The trading platform for stocks is the Xetra trading system of Deutsche Börse; liquidity providers will ensure liquidity in the listed CEE stocks traded on NEWEX. Trading will be in Euro.
"The setting in which NEWEX will prosper is the promising economic region of Central and East Europe. The specialized exchange will offer a platform for raising capital, thus promoting the economic development of the region's businesses. I am very proud to have been part of the establishment of the youngest European exchange, which is a subsidiary of Deutsche Börse and Wiener Börse", said Mr. Obersteiner at the general assembly of the Bürgenstock Meeting.
"Quality, liquidity, transparency and investor protection enjoy highest priority at NEWEX," explained Mr. Ober-steiner as he spoke of the corporate philosophy. NEWEX guarantees high quality standards and efficiency by offering Xetra as the trading platform and clearing through Clearstream. The one stop shop concept creates a central trading and financing platform for matching the inter-national supply of capital with demand from Central and Eastern Europe.
Trading takes place in three market segments having different admission criteria. Companies that meet the most stringent admission criteria and the extensive ongoing obligations such as annual accounts according to international accounting standards, ad hoc disclosures and quarterly reports will be listed on the NEWEX quality segments: NX.one or NX.plus. All other companies will be listed on the Unregulated Market.
