Deutsche Brse is planning to launch Xetra International Market by the end of 2009. The new electronic trading system will offer around 260 Xetra participants European blue chip trading with settlement in their domestic markets.
The aim is to enable trading participants in 19 European countries to place their trading orders for European blue chips, including all Dow Jones EURO STOXX 50 stocks, in the Xetra International Market in the fourth quarter of this year.
“Xetra International Market will enable us to significantly strengthen Deutsche Brses position in trading highly liquid European equities. We intend to offer our cash and derivatives market clients European blue chips and the corresponding equity and index derivatives in a uniform infrastructure. This means we will be giving our market participants new trading and arbitrage opportunities,” said Frank Gerstenschlger, member of the Executive Board of Deutsche Brse AG and responsible for the cash market.
Transactions executed on Xetra International Market will be cleared via Eurex Clearing. Clearstream will form the interface between Eurex Clearing and the domestic markets. Additional markets following Belgium, Finland, France, Italy, the Netherlands and Spain are to be gradually connected via Clearstream.