LINK UP MARKETS LAUNCHES FOUR OF ITS EIGHT MEMBERS

Posted April 2, 2009

MADRID -- Link Up Markets, the joint venture between eight European Central Securities Depositories (CSDs) representing 50 percent of European securities transactions, successfully launched on March 30, allowing for easy implementation of links between central securities depositories (CSDs). Clearstream Banking Frankfurt (Germany), OeKB (Austria), SIX SIS (Switzerland) and VP (Denmark) started connectivity. Connectivity of the other CSDs will follow soon.

The Link Up Markets infrastructure, delivered by Clearstream Services and based on two existing standard products of Tata Consultancy Services, was implemented in eight months at a cost of less than €10 million.

“As promised, Link Up Markets is successfully launched on time, only 12 months after the announcement of the joint venture,” says Tomas Kindler, Managing Director of Link Up Markets. “This achievement underpins our key principle that leveraging existing solutions whenever possible will deliver efficiencies and cost-benefits for the European securities market within the shortest timeframe.”

Link Up Markets is a joint venture between the CSDs of Austria (Oesterreichische Kontrollbank), Cyprus (Cyprus Stock Exchange), Denmark (VP), Germany (Clearstream Banking Frankfurt), Greece (Hellenic Exchanges), Norway (VPS), Spain (Iberclear) and Switzerland (SIX SIS).