AEX Amsterdam Exchanges

Amsterdam Exchanges is the international market for Dutch shares, bonds, options and futures. Amsterdam Exchanges is responsible for all of the financial exchanges in the Netherlands, i.e. the stock exchange, the options exchange and the agricultural futures market. The settlement and guarantee of the transactions that are effected on these exchanges, as well as the custody of securities are all part of the operations of Amsterdam Exchanges.

Amsterdam Exchanges is the result of the merger in 1997 of the Amsterdam Stock Exchanges and the EOE-Optiebeurs. Two vigorous exchange organisations agreed to give up their independence and join forces to create a single, even stronger exchange. This united front particularly benefits those who trade or have securities listed in Amsterdam. Everything that the investor and the listed company need can now be found under the same roof That means greater convenience, and more. By joining forces, the exchanges have been able to create optimal trade and settlement conditions for both securities and the derivative products that are traded on those securities.

In addition to Dutch market participants, many foreign investors are active on Amsterdam Exchanges. Foreign investors are responsible for approximately half of the turnover in shares on the stock exchange and for mole than a third of all turnover on the options exchange and the agricultural futures market.

The companies whose stocks are listed in Amsterdam are attracted by the international allure of Amsterdam Exchanges. Royal Dutch, the world's biggest listed security, ABN AMRO, Philips, ING, KLM and Unilever are among the global players which recognise the quality of Amsterdam Exchanges.

For international companies, Amsterdam Exchanges has much to offer. A market-oriented exchange organisation and the home market for the major Dutch internationals. Moreover, the Netherlands has enormous potential in terms of its reservoir of institutional and private investors. The exchange in Amsterdam offers direct connections to major parties abroad.

The options market of Amsterdam Exchanges has a solid international reputation. Measured in terms of stock options traded, it is one of the world's biggest options markets. Worldwide, ABN AMRO is one of the most actively traded stock options. Options on other leading international stocks are also listed on the options market of Amsterdam Exchanges. Several index options are traded, including the option on the AEX index, which measures the performance of twenty-five blue chip Dutch stocks. At the beginning of July 1998, open interest on the options market of Amsterdam Exchanges amounted to more than 11 million contracts.

Amsterdam Exchanges offers the full range of services that investors and companies need to operate successfully on its markets.