Joint Press Conference
Eurex and Trading Technologies
Sign Software Deal
Chicago
3 December 2003
Harris Brumfield
CEO
Trading Technologies Int.
Rudolf Ferscha
CEO
Eurex
Highlights

Eurex US selects Trading Technologies (TT) to provide front- end
connectivity to all TT customers free of charge

TT is a leading Independent Software Vendor (ISV) in the U.S. market

Eurex US customers using Trading Technologies front-end will enjoy
full connectivity and free access from day one
– No extra cost
– Immediate connectivity from day one
– Leveraging existing infrastructure
– Highly sophisticated and market proven front-end technology

Non-exclusive agreement with a term of 24 months
Press Conference Eurex/TT
3 December 2003
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Trading Technologies – Facts and Figures

TT develops high performance trading software for derivatives professionals

TT is a leading ISV in the U.S. market and provides connectivity to the leading
derivatives markets in the world
– TT believes 50% of the combined electronic volume on the world’s four
largest derivatives exchanges trades through TT’s X_TRADER® platform
– most used software by traders active in U.S. treasury bond markets

Customer base
– Well over 100 clients worldwide
– Several thousand screens installed, including
• Money-center banks
• Proprietary traders
• FCMs and other trading institutions

Based in Chicago, with representative offices in New York, London,
Frankfurt and Sydney

History with Eurex dates back to 1994: TT installed first trading gateway
to connect traders to DTB, one of Eurex‘s predecessors
Press Conference Eurex/TT
3 December 2003
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Trading Technologies – Arrangement for Eurex US Customers

TT customers receive access to Eurex US through the X_TRADER®
front-end software

Free upgrade to X_TRADER® Pro for three months, offering
– Autospreader:
• Automatically create and simultaneously trade multiple inter
and intra market spreads
• Define and manage spreads, working the legs automatically
to match a desired spread price
– Autotrader:
• Execute complex trading strategies
• quote the market and trade using links from Excel or formulas
directly in the application
– X_TRADER API
• Create custom applications to work with X_TRADER
Press Conference Eurex/TT
3 December 2003
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Strategic Rationale
Eurex US
Trading Technologies

Primary focus is on selling
software

Growing customer base


Immediate connectivity to large
percentage of Treasury bond
market

Highly sophisticated access for
Eurex US customers

Linking liquidity pools
– Across the USD yield curve
– Versus other tightly
correlated futures, such as
Eurex Bund futures

Complementary offering to open
interface and Eurex front-end
Further sales potential for
X_TRADER® Pro
Press Conference Eurex/TT
3 December 2003
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Eurex US will start with the Largest Distribution ever
for a New Exchange

157 customers have already signed up to become members of Eurex US
– 56 European customers
– 101 U.S. customers
– 117 are current customers of Eurex

Eurex US will start with the largest distribution network ever for a new
exchange

Simulation successfully started
– Pre-simulation for vendors successfully completed with 10 ISVs
– Pre-simulation for members started on December 1
– Full simulation starts on January 5, 140 customers already enrolled
Press Conference Eurex/TT
3 December 2003
6
Eurex US – The Most Advanced Trading Features

Eliminating the execution risk for large bilateral trades

Straight forward automatic process for give-up/take-up business

Enhanced error protection and risk minimization mechanisms to filter
erroneous trades

Access to the leading worldwide distribution network
Treasury
Futures
Unique opportunity to extend services for fixed income options


Fully integrated order book for calendar spreads
EFPs (Exchange for Physicals) and EFSs (Exchange for Swaps)
Block trading facility (for 2,500 contracts or above)
Treasury
Treasury
Options
Options




Delta-neutral trading facility
Strategy builder
Block trading facility (for 2,500 contracts or above)

Press Conference Eurex/TT
3 December 2003
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