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Deutsche Börse: First Index Fund On The FTSE 100 Index In XTF: XTF Europe's Leading Segment For ETFs In 2001

Date 25/01/2002

Deutsche Börse AG is further expanding its XTF market segment for exchange-traded funds. Starting Friday, one new index fund based on the FTSE 100 index will be traded on XTF. The fund is issued by Indexchange. For the first time a FTSE index fund can be traded on the Xetra electronic trading platform, serving 422 trading members from 18 countries.

Deutsche Börse, which launched its XTF segment in April 2000, was the first exchange in Europe to list exchange-traded funds. In 2001, XTF was able to establish itself as European market leader in index funds with a market share of 52 percent. XTF has shown exponential growth, posting a turnover of approximately 23,5 billion euro with an average daily turnover of approximately 90 million euro in 2001. This represented an increase of roughly 1400 percent over the total turnover of the previous year (April ? December 2000).

Currently, there are 19 index funds and 11 actively managed equity funds listed in the XTF market segment. There are no loads for the purchase of fund shares through the stock exchange; all the investor has to pay are the usual transaction costs for the purchase and sale of securities. Investors can buy the shares through any bank that offers trading in equities.

Roughly 98 percent of the volume traded in fund products in Germany is posted through Xetra, which means that all of the main trading parameters from equities trading are also valid for XTF. These include continuous trading, auctions, a minimum lot of one fund share as well as Designated Sponsors who provide for liquidity.