FRANKFURT, March 10 (Reuters) - Exchange operator Deutsche Boerse plans to increase its pan-European product offering from 86 securities to over 1000 in an attempt to boost share trading volumes as alternative trading platforms encroach on its turf.
The Frankfurt-based exchange operator said its new European trading platform Xetra International Market (XIM) will add 700 securities by summer 2010 to its offering of French, Dutch, Belgian, Finnish, Italian and Spanish shares.
Boerse said it plans to admit securities from Switzerland, Great Britain, and Ireland, Austria, Denmark, Greece, Norway, Portugal and Sweden as well as Polish shares by end 2010.
The expansion is subject to respective national regulatory approvals.
The move comes only days after rival exchange operator London Stock Exchange sold stakes in its newly-acquired Turquoise alternative European trading platform to three banks, as a way to retain and boost trading volumes.
Turquoise and other alternative trading venues such as CHi-X and BATS have emerged in Europe since new EU regulations opened exchanges to cross-border competition in 2007.
Deutsche Boerse's share trading volumes were hit by consumer reluctance to trade in 2009.
In 2009 1.14 trillion euros were turned over at the cashmarket of Deutsche Boerse, a decline of 50 percent compared with 2.26 trillion euros worth in 2008.
Of this 1.06 trillion euros was traded on the fully electronic trading system Xetra, and 77.4 billion euros came from floor trading.
(Reporting by Edward Taylor; Editing by Greg Mahlich) Keywords: DEUTSCHEBOERSE (edward.taylor@thomsonreuters.com; +49 69 7565 1187; Reuters Messaging: edward.taylor.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Frankfurt-based exchange operator said its new European trading platform Xetra International Market (XIM) will add 700 securities by summer 2010 to its offering of French, Dutch, Belgian, Finnish, Italian and Spanish shares.
Boerse said it plans to admit securities from Switzerland, Great Britain, and Ireland, Austria, Denmark, Greece, Norway, Portugal and Sweden as well as Polish shares by end 2010.
The expansion is subject to respective national regulatory approvals.
The move comes only days after rival exchange operator London Stock Exchange sold stakes in its newly-acquired Turquoise alternative European trading platform to three banks, as a way to retain and boost trading volumes.
Turquoise and other alternative trading venues such as CHi-X and BATS have emerged in Europe since new EU regulations opened exchanges to cross-border competition in 2007.
Deutsche Boerse's share trading volumes were hit by consumer reluctance to trade in 2009.
In 2009 1.14 trillion euros were turned over at the cashmarket of Deutsche Boerse, a decline of 50 percent compared with 2.26 trillion euros worth in 2008.
Of this 1.06 trillion euros was traded on the fully electronic trading system Xetra, and 77.4 billion euros came from floor trading.
(Reporting by Edward Taylor; Editing by Greg Mahlich) Keywords: DEUTSCHEBOERSE (edward.taylor@thomsonreuters.com; +49 69 7565 1187; Reuters Messaging: edward.taylor.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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