XETRA TRADING SYSTEM BOOSTS SCOACH EXCHANGE’S MARKET SHARE

Posted August 6, 2008

FRANKFURT – The presence of Scoach, a European certificates and warrants exchange, on the electronic pan-European trading system Xetra has brought this joint venture of Swiss Financial Market Services AG and Deutsche Börse AG greater market share in exchange trading of structured products.

In the second quarter, Scoach’s market share rose by 4.2 percent to 33.8 percent, from 29.6 percent in the first quarter. In July, Scoach increased this market share and has reached a 34.7 percent share of order book turnover.

“The move onto the Xetra platform has had very positive interim results for Scoach,” says Marc Zahn, Chief Executive Officer of Scoach. “We continue to safeguard our position as Europe’s leading stock exchange for certificates and warrants.”

Scoach certificate trading through Xetra has been available for 100 days. Transferring structured products to the Xetra platform has reduced order execution time to a fraction of previous execution times – from about six seconds to one second, according to performance measurements.

About 260 market participants, including 100 from European countries other than Germany, get access to more than 340,000 financial instruments on Scoach. In July, more than 15 percent of all Scoach orders come from abroad.