ATHENS EXCHANGE S.A.: Acquisition of InBroker© business activity by Athens Exchange
The Athens Exchange S.A. (ATHEX) announces the conclusion of an agreement with the company "Intarget S.A." (www.intarget.gr) regarding the acquisition of the exclusive rights of the software application InBroker© (www.inbroker.gr).
Within the framework of the agreement, ATHEX undertakes fully the rights and obligations emanating from Intarget's agreements with InBroker© customers, as well as the obligation of continuously maintaining and enriching the said application with new functionality, covering new needs for the markets operated or supported by ATHEX. Specifically, as of Monday, 12 November 2007, the sales, operation, maintenance and customer support of InBroker© services will be exclusively carried out by ATHEX.
With the acquisition of InBroker©, ATHEX takes another step towards the implementation of its business plan as drawn up by Hellenic Exchanges S.A. (HELEX) in the beginning of the year. Furthermore, with this application, the HELEX Group:
- Adds in the range of products and services already offered to its Members, a product not only designed for the streaming of Stock Exchange information, but also has significant penetration in the particular market.
- Improves the available baseline software that will be used for the implementation of the X-NET project and strengthens the project team. Specifically, the X-NET project is part of HELEX Group's strategy for initiatives which intend to increase access of international liquidity pools to investment opportunities in the region. In particular, X-NET aims to develop a network that will facilitate access to the electronic systems (trading, information dissemination, clearing & settlement) that serve the operation of interconnected markets in the region of South-Eastern Europe and Mediterranean.
- Paves the way to further exploit potential business opportunities for the expansion of ancillary services, similar to those of other European Exchanges under the new competitive environment created in the European Capital market, following the implementation of the Markets in Financial Instruments Directive (MiFID).
For further information please contact Services Business Development Division - Market Data Services Group at +30 210 336 6340, email: mds@helex.gr.