Launch Of Danish Bonds On Saxess Postponed

In connection with the final testing prior to the transfer of Danish bonds to SAXESS a supplier has run into serious problems with one of the decentralised applications that communicate with the SAXESS system.

As a consequence the Copenhagen Stock Exchange yesterday received a request for postponement of the launch of release 2.1 from a number of members representing a significant market share on the bond market. The transfer of Danish bonds from ELECTRA to the SAXESS system had been scheduled for 9 October 2000.

The Copenhagen Stock Exchange has within the last 24 hours analysed the problems thoroughly, including held discussions with all relevant parties. Against this background the Exchange feels compelled to postpone the launch in order to secure the stability of the Danish bond market.

Please note that the Exchange is ready to transfer the bonds to the SAXESS trading system.

New launch date for SAXESS release 2.1, including trading in Danish bonds on SAXESS, will be Monday 16 October 2000.