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Frankfurt/ Budapest (pte011/20.02.2003/10:43) - The Budapest Stock Exchange (BSE) http://www.bse.hu is the first country in the CEE (Central and Eastern Europe) region to become a member of Xetra, the electronic cash market trading system of the German exchange, Deutsche Börse Group http://www.deutsche-boerse.com.
On Xetra, the BSE will act as a so-called 'multi member frontend provider', whose clients can benefit from the existing technical infrastructure and network. Hungarian banks and trading houses will be permitted direct access to trade on the Frankfurt Stock Exchange (FWB).
By joining Xetra, BSE hopes to improves its integration on the international stock markets and improve its service for members.
The technical phase-in is planned for the second quarter of 2003. Through its cooperation with BSE, Deutsche Börse intends to further expand its global participant network.
Deutsche Börse recently announced its preliminary results for 2002. Earnings before interest and taxes climbed by 26 per cent to 351.2m euros. Turnover, including net interest from banking grew from 760.3m to 1.17 billion euros. Profit per share increased from 2.04 to 2.18 euros. And earnings before interest, taxes and amortisation reached 419.9m euros compared to 278.3m euros in 2001.
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