Participants of the Budapest Stock Exchange will be able to trade on Xetra, the electronic trading platform of Deutsche Brse. The Budapest Stock Exchange is functioning as so-called Multi-Member Frontend Provider, which provides the necessary technical infrastructure for its trading participants as well as the existing network. Hungarian banks and brokerage firms then will be directly admitted to trading on the FWB Frankfurt Stock Exchange. Deutsche Brse and Budapest Stock Exchange made this announcement on Wednesday. The technical connection of the Budapest Stock Exchange to Xetra is scheduled for the second quarter of 2003.
One of the main goals of the Budapest Stock Exchange is its stronger integration into international securities trading and the related continuous expansion of the services it can offer its members. The connection to Xetra represents a major step in this direction.
The Deutsche Brse Group’s cooperation with the Budapest Stock Exchange is another step in the expansion of its global network of participants. With this step, the first market participants from an East-European country are able to trade on Xetra.
There are currently some 400 participants from 18 countries trading on Xetra. Trading participants worldwide benefit from the equal access to the trading platform regardless of their location. In addition to its flexibility and efficiency, Xetra is distinguished above all by an international product spectrum, with over 10,000 equities, warrants, certificates and exchange-traded funds.