SCOACH AND SIX SWISS EXCHANGE LAUNCH MARKET-MAKING METRICS SYSTEM

Posted January 26, 2009

ZURICH -- Scoach Switzerland Ltd. has launched Quotes Quality Metrics (QQM), an Internet-based, quality-control system intended to ensure greater transparency in trading in warrants and structured products, developed in conjunction with the SIX Swiss Exchange in coordination with its major issuers.

QQM provides information on product liquidity, price spreads, and the efficiency of issuer pricing, making it possible for investors to measure the quality of market making. Quality metrics allows market making on individual products to be quantified on a uniform basis and made publicly transparent.

In September 2008, following the recommendations of an ad hoc working group, the Commission for Structured Products (KSP) approved both the methodology behind and the publication of daily QQM. After a successful pilot phase in collaboration with the issuers, QQM is now available on www.scoach.ch. The quality metrics will be applied to all securities traded on Scoach Switzerland Ltd. SIX Swiss Exchange is responsible for data delivery.