In an effort to woo disaffected brokers away from Euronext, Deutsche Börse is to expand the number of Dutch securities available for trading on Xetra from eight to 25 and slash clearing fees by 60% to the same level as German stocks.
The German exchange is also providing significant incentives to Dutch market participants, including free Xetra hardware for one-year and a promise to reimburse a portion of trading fees.
Announcing the move at a press conference in Amsterdam today, Rainer Riess, head of stock market business development at Deutsche Börse, says the goal is to provide a high-performance, reliable and cost-effective electronic platform for trading and clearing in Dutch equities.
At present there are 20 Dutch banks trading on Xetra, making them the third-largest group of non-German participants.
The Börse's efforts pre-empt a move by the London Stock Exchange, which has also been courting Dutch brokers who have experessed disatisfaction with the level of service provided to their market by Euronext.
Says Riess: "We are offering Dutch market participants the desired alternative and opening up new trading opportunities worldwide for Xetra participants."