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Eurex US wins approval of Dutch regulator

21 Apr 2004
Dutch participants can now trade directly on Eurex US following approval for the new fully-electronic U.S. futures and options exchange by that country's financial services supervisory authority in the Netherlands. More than 2,200 traders from the following jurisdictions can now access Eurex US: Austria, Belgium, Denmark, Finland, Germany, Gibraltar, Ireland, Sweden, Switzerland, the Netherlands, USA and the United Kingdom. UK-based members of Eurex US which are authorized firms in the UK, can trade on the basis of the "Overseas Persons Exclusion", according to UK law. Formal recognition of Eurex US by the UK Financial Services Authority is pending.

Eurex US began trading on February 8 and currently maintains markets for futures and options on 2-, 5- and 10 year Treasury notes and on 30-year Treasury bonds. Pending approval of international regulatory authorities, Eurex US will expand its offerings to include trading in futures and options on Euro-denominated interest rate products as well as on European and US equity indices. The Chicago-based Clearing Corporation (CCorp) is acting as Eurex US' clearing organization in the U.S. A clearing link between CCorp and Eurex Clearing, Eurex's European clearing organization, shall allow for choice of clearing, full fungibility and margin and collateral offsets in excess of 2.5 billion USD thus adding
substantial benefits to customers.

Background information:

"Eurex US has applied to the UK Financial Services Authority (FSA) for recognition as a recognised overseas investment exchange in accordance with UK law. Eurex US is not authorised by the FSA and is not an exempt person in the UK. There is no UK office able to deal with any queries relating to Eurex US. All such queries should be directed to its Chicago office.

Neither the membership of Eurex US nor the use of any of its services is available to any person in the United Kingdom except for persons who (i) have professional experience in matters relating to investments, (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (as amended), or (iii) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) related to the use of the services of Eurex US may otherwise lawfully be communicated or caused to be communicated (all such persons, together with any persons outside of the United Kingdom, being referred to as "relevant persons").

Insofar as it may contain or constitute any invitation or inducement to engage in investment activity, (a) this document does not constitute or contain any invitation or inducement to engage in investment activity with any person who is not a relevant Person; (b) this document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons; and (c) any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons."









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