GERMANY: Deutsche Borse to offer Electronic Fund Trading by December 2008

Wednesday June 18 2008

At the end of this year Deutsche Börse will launch a new version of its fully electronic trading system Xetra. This 9.1 release will enable fully electronic Europe-wide fund trading effective December 2008 allowing over 260 banks and brokerage firms direct access to more than 3300 actively managed mutual funds.

The new electronic trading system aims to benefit trading participants and investors by providing higher efficiency and lower trading costs.

Rainer Riess, Managing Director Cash Market Development at Deutsche Börse said “A new era of exchange fund trading will start with Xetra 9.1. Investors can thus engage in investment fund trading across Europe and benefit from the quickest order execution at the best prices…”

Xetra 9.1 could well be a pioneering move towards the European Fund and Asset Management Association’s efforts of employing electronic communications to minimise operational risks and costs in fund processing, given the European Fund Industry’s lack of standardisation and automation.

Funds-Axis limited has developed a unique Governance, Risk and Compliance (GRC) tool that, along with other functionalities; automatically captures, controls and distributes all fund information and fully supports the EFAMA’s Fund Processing Passport (FPP).

For further information on Funds-Axis GRC Solution contact info@funds-axis.com.