Bulgarian Stock Exchange-Sofia · BSESOF:BSE

Bulgarian Stock Exchange-Sofia — Deutsche Börse — Conference Presentation (September 2008)

16 slides from Bulgarian Stock Exchange-Sofia's conference presentation, Sep 16, 2008

  1. Slide 1: A View from Outside: The Developed Exchanges as Partners and Providers of Innovations

    A View from Outside: The Developed Exchanges as Partners and Providers of Innovations Rainer Riess Sofia, 16 September 2008

  2. Slide 2: Agenda

    Agenda 1. Brief Introduction of Deutsche Börse 2. International Stock Market Trends 3. Partnership in South-East-Europe 3

  3. Slide 3: Deutsche Börse Group – Innovation and Growth

    Deutsche Börse Group – Innovation and Growth 1585 Foundation of Frankfurt Stock Exchange 1992 Deutsche Börse AG established as a joint stock company 1997 Launch of the electronic trading platform Xetra ® 1998 Derivatives exchange Eurex established on the basis of a merger of DTB Deutsche Terminbörse

  4. Slide 4: Deutsche Börse Group – Integrated Transaction Processing

    Deutsche Börse Group – Integrated Transaction Processing Trading Clearing Settlement Custody Cash Market: Xetra Clearstream Eurex Clearing Derivatives: Eurex  Operation of open  Verification of trade-  Delivery of securities  Physical custody of electronic order books related information (delive

  5. Slide 5: Agenda

    Agenda 1. Brief Introduction of Deutsche Börse 2. International Stock Market Trends 3. Partnership in South-East-Europe 6

  6. Slide 6: Cross Border Trading: Diversification leads to Internationalization of Markets

     Cross Border Trading: Diversification leads to Internationalization of Markets  Physical location of trading  Remote and world wide does not matter anymore  Intermediaries enlarge their distribution of market data allow product portfolio in securities services; limitations for cross border inve

  7. Slide 7: Consolidation and Competition: Maintaining and increasing Liquidity is Key for Exchanges

     Consolidation and Competition: Maintaining and increasing Liquidity is Key for Exchanges  Very active market consolidation in 2007 including first cross-Atlantic deals (e.g. NYSE-Euronext, Nasdaq- OMX, Eurex-ISE) while economies of scale drive for increased system load  Competition increases as

  8. Slide 8: Algorithmic Trading: The Need for Speed – A Race to the Bottom?

     Algorithmic Trading: The Need for Speed – A Race to the Bottom? Algorithmic Trading is - a trading service that enables order submissions - without human intervention - via direct market-access channels - based on quantitative models - and a predefined benchmark concept. Requirements:  Ultra fast

  9. Slide 9: Risk Management: Central and Integrated Clearinghouses generate Trust

     Risk Management: Central and Integrated Clearinghouses generate Trust  Risk management capabilities are becoming more important to every single market participant but also to the financial stability of the whole market  Introduction of central counterparties (CCP) can be seen as a logical conseq

  10. Slide 10: Agenda

    Agenda 1. Brief Introduction of Deutsche Börse 2. International Stock Market Trends 3. Partnership in South-East Europe 11

  11. Slide 11: Partnership in South-East Europe

    Partnership in South-East Europe Motivation  Leading exchanges like Deutsche Börse are mostly active across various asset classes and the whole value chain of exchange trading  Their international network of trading & clearing member as well as settlement institutions, CSDs and data vendors provid

  12. Slide 12: Partnership in South-East Europe: Bulgarian Stock Exchange & Deutsche Börse

    Partnership in South-East Europe Bulgarian Stock Exchange & Deutsche Börse The co-operation between the Bulgarian Stock Exchange and Deutsche Börse combines the experiences from both partners to expand the Bulgarian capital market. Phase 1: Phase 2: Co-operation has been started Outlook  Successful

  13. Slide 13: Thank you for your attention!

    Thank you for your attention! 14

  14. Slide 14: Scoach: The New European Exchange for Structured Products

    Scoach: The new European Exchange for Structured Products The new European Exchange for Structured Products  SWX Group and Deutsche Börse AG have integrated their current business in structured products to become Scoach, the largest European trading venue for structured products Overview  Scoach h

  15. Slide 15: International Securities Exchange (ISE): Creating the Largest Transatlantic Derivatives Marketplace

    International Securities Exchange (ISE): Creating the Largest Transatlantic Derivatives Marketplace  Purchase price of ISE was about USD 2.8 bn and deal was closed in December 2007  Largest transatlantic derivatives marketplace with about 600 exchange members and more than 2.7 billion contracts tr

  16. Slide 16: Link-Up Markets: Direct Cross-Border Access facilitated by integration of European CSDs

    Link-Up Markets: Direct Cross-Border Access facilitated by integration of European CSDs  Single point of access for CSDs to participating markets  Easy implementation of enhanced CSD-links in Central Bank Money leveraging TARGET2-Cash  Reuse of efficient local infrastructures  Absorbing differen

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