Hellenic Exchanges To Launch SEEMEA Trading Platform on Trial Basis in Nov

Starting in November, the XNET Network will provide, on a trial basis, access to ATHEX (Athens Stock Exchange) and CSE (Cyprus Stock Exchange), as well as in selected markets from Southeastern Europe and the Mediterranean, such as Serbia, Bosnia-Herzegovina, Macedonia, Albania, Egypt and Jordan, HELEX said in a statement on its website.

"The Network is expected to go live in the 1st quarter of 2010, when its interconnection with developed markets (mainly in Europe and America), as well as with the markets of Romania and Bulgaria will become operational. During that stage, the access services that will be offered will consist of sending orders for execution and settlement to the abovementioned XNET Markets (outflow services). The trial operation of the Network will give Athens Exchange Members the time necessary to exploit XNET and promote its use to their clients," the statement said.

"During the second phase of XNET Network development, in the second quarter of 2010, the services provided will also include investment services, from the XNET Member – XNET Agent network of the international Markets supported, to the Common Platform markets of Athens Exchange and the Cyprus Stock Exchange (inflow services)."

"Through the XNET network, Members of Athens Exchange can provide to their client-investors, access to the securities traded in each market connected to the network [...] with safety, speed, and at a low cost, thus exploiting the network that Greek banks have developed in southeastern Europe."

The technological platform of XNET is fully developed and operated by HELEX, while the business model is based upon bilateral agreements among the XNET Participants and HELEX.