Fortis will offer trading and clearing services to customers worldwide using Deutsche Börse Group's global communications network with immediate effect.
Under the agreement Deutsche Börse will act as the network provider to Fortis. The move marks the expansion of Deutsche Börse's IT managed services into network operations. Fortis will benefit from over 3000 existing connections to financial services firms currently provided by Deutsche Börse's global network.
Trading firms connected to Deutsche Börse's network can now directly access Fortis' services for trading and clearing on leading derivatives and stock exchanges. All other trading firms can simply hook into the nearest local Deutsche Börse hub in 13 locations worldwide.
"With today's emphasis on efficiency and fast connectivity for electronic market access, we are excited to announce an exclusive deal with Deutsche Börse to provide access over a network with proven speed, reliability and performance. This is a huge step in market access connectivity" says Chris Lee, Global Head of Screen Based Trading for Fortis. "The cost benefits to clients are obvious and the fact that the Deutsche Börse has something in the region of 3000 existing connections worldwide makes for a fantastic deal. This Global Deal builds on our strategy of being a major force in third party clearing and market access".
"Deutsche Börse is a leading service provider to the global securities industry. With this agreement we expand our IT managed services for third parties to the area of network services," said Michael Kuhn, CIO of Deutsche Börse and CEO of Deutsche Börse Systems. "Continuous development has resulted in a global network with unrivalled features and performance allowing for fast provision of new services. We greatly appreciate the opportunity to expand our relationship with Fortis providing high quality network services," Kuhn concluded.
Highest service availability for customers choosing redundant connectivity is based on Deutsche Börse's elaborate network architecture and optimized network infrastructures exceeding overall connection availabilities of 99.999 percent. Fortis will rely on Deutsche Börse's 24/7 follow-the-sun operational centres managing the network at all times.
Customers will benefit from Deutsche Börse's adherence to strictest network and communication security standards proven in many years of operating mission critical platforms for the financial markets.
Notes to the editors:
About Fortis
Fortis is an international financial services provider engaged in banking and insurance. We offer our personal, business and institutional customers a comprehensive package of products and services through our own channels, in collaboration with intermediaries and through other distribution partners.With a market capitalization of EUR 35.00 billion (31/12/2005), Fortis ranks among the twenty largest financial institutions in Europe. Our sound solvency position, our presence in 44 countries and our dedicated, professional workforce of 56,000 enable us to combine global strength with local flexibility and provide our clients with optimum support. More information is available on www.fortis.com
Merchant Banking is a division of Fortis Bank and manages the global relationships with banks, institutional investors and large international corporate accounts. Merchant Banking offers a wide range of financial products, advisory services and other customized solutions.
Fortis Bank Global Clearing is part of the Merchant Banking division of Fortis. It is one of the largest independent third party clearers in Europe, Asia/Pacific and the U.S. and offers clearing services for the derivatives, equities, bonds and commodities markets. Fortis Bank Global Clearing has offices in Amsterdam, Brussels, Chicago, Frankfurt, Hong Kong, London, San Francisco, Singapore, Summit and Sydney with more than 500 employees worldwide. It has General Clearing Memberships at more than 45 exchanges and access to other major exchanges through third party relationships.
About Deutsche Börse Group:
Deutsche Börse Group is a leading service provider to the global securities industry with products and services for issuers, investors, intermediaries and data vendors. The Group covers the entire securities process chain from trading over clearing all the way to settlement and custody. Deutsche Börse Group is also a provider of IT solutions and an insourcing partner for the global securities industry as well as a leading provider of market data and analytics.
Deutsche Börse Systems is a 100 percent subsidiary of Deutsche Börse AG. It maintains the world's largest exchange network and builds, maintains and operates all of Deutsche Börse Group's trading, clearing and settlement systems including Xetra and Eurex. With its high performance network, the Group connects some 2,000 market participants worldwide. More information is available on www.deutsche-boerse.com.
Media Contacts:
Deutsche Börse Walter Allwicher/Susanne Kreutzer +49 69 21 11 15
Fortis
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