Two Years of Eurex: World Market Leader Sets New Goals - Successful launch of alliance/cbot/eurex

Eurex, the international derivatives market, has achieved a great deal since it was founded exactly two years ago: Within this short period of time, Eurex became the world's Number One derivatives exchange and forged important alliances and partnerships. Moreover, with the establishment of EEX, the European Energy Exchange, Eurex tapped a new market. Last but not least, Eurex is the world's first exchange to join forces with the leading players in bond trading and set up an electronic communications network (ECN) for trading in federal bonds, which will be launched on October 6.

"We want to fortify and expand our position as the leading derivatives market," as Eurex CEO Dr. Jörg Franke commented on Thursday, marking the derivative market's second anniversary. This is why the Eurex chief wants to keep expanding the circle of participants, especially in the United States and Asia, to enter further strategic alliances and extend the product line.

a/c/e, the joint venture of Eurex and the Chicago Board of Trade (CBOT), got off to a very successful start. The new trading platform developed by the two partners on a joint basis has been active since August 27. Over 2 million contracts have already been traded on the new electronic trading platform after only one month of trading. a/c/e is already achieving market share of 20 to 30 percent in the leading financial products at CBOT, the 30-year, 10-year and 5-year Treasury Bond Future.

Eurex is also taking on new challenges: Spot trading was initiated in August at the European Energy Exchange (EEX), in which Eurex holds 48 percent of the shares; derivatives trading in electricity is set to begin by the end of the year. Another initiative will be kicked off in early October: Eurex will be the first exchange in the world to set up an ECN - Eurex-Bonds, as the platform is called. Eurex is working on this electronic network with 10 leading global players in bond trading. Eurex' active involvement in electronic networks is a clear sign of its innovative strength.

Eurex came into being on September 28, 1998 through the merger of DTB, the German options and futures exchange, and SOFFEX, the Swiss derivatives exchange. Some 450 participants from 15 European countries and the United States are now trading on Eurex.