Equiduct Trading's best price (VBBO) freely accessible for Thomson Reuters customers

Berlin, Paris, London, 12^th June 2008.

Börse Berlin today announces that the core element of its Equiduct Trading platform, the VBBO (Volume Weighted Best Bid and Offer), is now able to demonstrate its quality as a trading benchmark for European markets. With immediate effect, Thomson Reuters will be making the VBBO benchmark available to customers and users of its Equities data feeds, within the framework of its real-time market data deliveries. Thomson Reuters is the world's leading source of intelligent information for businesses and professionals.  Thomson Reuters provides price information from more than 160 stock exchanges and OTC markets around the world.

The VBBO provides access to pan-European best prices for a wide range of equity securities.  As the mathematically calculated best price in Europe, the VBBO corresponds to the price that investors would receive with ideal partial executions in all key reference markets that trade a particular security. The VBBO is based on the visible prices (Level 2) at two or more external reference markets. All securities covered by the VBBO must correspond to the Equiduct  liquidity criteria, which are updated regularly. The VBBO prices can be retrieved using the exchange suffix .EDv

Rapid access to real-time market data around the clock is extremely important for everyone involved in financial dealings. Market data also provides the basis for the execution policies adopted by banks, and the best-possible execution of orders required by the European financial market directive MiFID. Now that it is widely available, Equiduct Trading's best price (VBBO) can be compared with other European trading data. This means that VBBO will already be in use by the world's financial markets in the period leading up to the start of Equiduct Trading, which is imminent.

Rob Brouwer, Chief Information Officer of Börse Berlin Equiduct Trading said: "I see the distribution via Thomson Reuters as an important step in establishing VBBO as a key benchmark for future market participants.  The VBBO also provides pre-trade transparency for our soon to be launched PartnerEx segment which will allow participants not only to view the VBBO but also trade at this best price".