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Commerzbank Aktiengesellschaft, one of Germany´s largest banks and leading issuer of structured products in Germany, has signed membership agreement with NGM and framework agreement for becoming an issuer on NDX.
Commerzbank’s first issue on the NDX will consist of forty warrants and the planned listing date is October 12, 2006.
"Swedish investors are very sophisticated both in respect to the actual knowledge of products as well as technical possibilities that are available for trading these products. Thanks to an innovative business mind, NDX makes it possible to broaden the product range in terms of both plain vanilla warrants and other more exotic products in the market. Obviously, all of this is beneficial to the investors.
Commerzbank is currently focusing on a large scale Swedish market launch, having expanded the staff on the respective trading and sales desks with extensive experience from the Swedish market. In the first stage the focus will be to offer warrants on Swedish underlyings, however, going forward we also see the potential as a large pan-European issuer to be able to offer a wide variety of international underlyings as well as more exotic products. We are very much looking forward to the cooperation with NDX as a step further in our Swedish market launch." says Stefan Hilton, responsible for public distribution of structured products in Scandinavia at Commerzbank.
”We believe in a positive development in the Nordic market for derivatives and it is with great pleasure we welcome Commerzbank as a new member and issuer. This is yet another confirmation from the market participants that competition among exchanges is beneficial for the investors. We will continuously offer issuers and investors a broader range of services and products at reasonable costs”, says Roger Peleback, Vice President NGM.
About NDX
Nordic Derivatives Exchange (NDX) is a market for listing and trading of derivatives and other structured products. The market is operated by Nordic Growth Market (www.ngm.se), a regulated exchange under the supervision of the Swedish Financial Supervisory Authority.
NDX offers listing and trading of derivatives and structured products and the ambition is to offer issuers and other market participants a flexible market for all types of products. Especially important for NDX is the encouragement of a market driven product development as well as the establishment of a powerful framework for marketing of issuers and issuers' products.
NDX offers an increased influence for issuers and increased opportunities for product development. Further, NDX offers a platform that also aims at increasing the understanding and knowledge of derivatives and other structured products for the members' customers.
About Commerzbank
Commerzbank AG is one of Europe's leading financial institutions. As of March 31, 2006, it acquired more than 98% of the share capital of Eurohypo, Europe's largest institution for public-sector financing and real estate lending. Thanks to this transaction, Commerzbank's aggregate balance-sheet total of almost EUR 700bn makes it the second largest German bank and the leading private bank in Germany's domestic market.
Commerzbank Corporates and Markets (CBCM) is the integrated Corporate and Investment Banking division of Commerzbank AG.
CBCM provides a broad range of Commercial and Investment Banking products to large corporate, multinational and institutional clients. The business incorporates capital markets activities in credit, equities, interest rates and foreign exchange with a strong focus on derivatives and structured products (www.warrants.commerzbank.com).
