Paris, September 14, 1998 -- Deutsche Börse AG, SWX Swiss Exchange and their joint subsidiary Eurex on the one hand and SBF Paris Bourse, Matif SA and Monep SA on the other hand today announced a new step for the Euro Alliance. The parties signed the introduction of cross-membership between Eurex and Matif/Monep members which will be effective at the latest by the end of this year.

The cross-membership will allow all trading members direct access to all products listed either on the Eurex platform or on the Matif/Monep NSC platform.

Common members will benefit from the harmonization of the admission procedures, and from a mutual recognition of professional cards delivered by each exchange. They will also benefit from a reduction of costs.

A clearing-link allowing for cross-margining will be set up in a later stage.

In February 1998, both parties signed a Memorandum Of Understanding to form Euro Alliance whose common goal and basis are to contribute to the integration of European capital markets, by establishing trading and clearing links between the two platforms. The launch of the futures and options on the new European stock indexes Dow Jones Stoxx® in June was the first concrete achievement of the Euro Alliance.

Contacts :
Matif SA - Antoinette Bouvier-Darpy - Tel.: + 33 1 40 28 83 89
Monep SA - Sylvie Laforge - Tel.: + 33 1 49 27 18 60
Paris Market Ltd - Nathalie Boschat - Tel.: + 44 171 332 59 20
Eurex Deutschland - Walter Allwicher - Tel.: + 49 69 21 01 15 00