DGAP-News: MWB starts market making on XETRA
2002-02-04 08:00
Designated sponsor and Market Expert for 145 of the most liquid foreign shares on the electronic exchange
Gräfelfing/Munich, February 4, 2002 - The Munich based MWB Wertpapierhandelshaus AG started market making for 145 of the most liquid foreign stocks on XETRA on February 1. It acts as designated sponsor for the 100 US stocks with the most liquidity within the "XETRA US Stars" segment and for 38 European Blue Chips. In addition, it sets in activities as market expert for the 7 stocks in the "XETRA Dutch Stars" segment that was launched on November 12, 2001 as well as for the forthcoming "XETRA French Stars" segment. This is a result of the decision made by MWB during the course of its strategic readjustment to place more emphasis on electronic trading and especially on market making.
"We assume that the focus among German investors will largely be limited to around 1000 foreign shares," says Thomas Posovatz, speaker of the board. "For this reason we are not pursuing a broad-based market maker strategy, but have decided to concentrate on the stocks with the highest liquidity." With this readjustment, MWB AG accomodates the structural changes on the stock markets and the joined significance of electronic trading, especially for foreign shares in Germany, while simultaneously reducing its corporate risk by increasing the European focus of its foreign trading, which was previously heavily US dominated.
Gräfelfing/Munich, February 4, 2002 - The Munich based MWB Wertpapierhandelshaus AG started market making for 145 of the most liquid foreign stocks on XETRA on February 1. It acts as designated sponsor for the 100 US stocks with the most liquidity within the "XETRA US Stars" segment and for 38 European Blue Chips. In addition, it sets in activities as market expert for the 7 stocks in the "XETRA Dutch Stars" segment that was launched on November 12, 2001 as well as for the forthcoming "XETRA French Stars" segment. This is a result of the decision made by MWB during the course of its strategic readjustment to place more emphasis on electronic trading and especially on market making.
"We assume that the focus among German investors will largely be limited to around 1000 foreign shares," says Thomas Posovatz, speaker of the board. "For this reason we are not pursuing a broad-based market maker strategy, but have decided to concentrate on the stocks with the highest liquidity." With this readjustment, MWB AG accomodates the structural changes on the stock markets and the joined significance of electronic trading, especially for foreign shares in Germany, while simultaneously reducing its corporate risk by increasing the European focus of its foreign trading, which was previously heavily US dominated.