Deutsche Börse Systems Utilizes Corvil to Provide Unprecedented Latency Transparency

First Exchange to Provide Latency Distribution Statistics and Member Latency Ranking

FRANKFURT and LONDON, December 21 - Corvil, a leading provider of electronic trading and market data latency
management systems, announced that Deutsche Börse Systems, the IT subsidiary
of Deutsche Börse AG, has successfully deployed a precision latency
monitoring and reporting service for Xetra and Eurex market participants that
provides for the first time a full range of latency statistics based on
microsecond distribution measurements for both order and market data on
Deutsche Börse's new data interfaces Enhanced Broadcast Solution and Enhanced
Transaction Solution. This latency monitoring and reporting service achieves
another industry first by providing normalized latency ranking tables for a
specific market participant's trading session relative to all other peer
trading sessions in the same reporting period. The latency distribution
measurements underpinning Deutsche Börse's cash market Xetra and derivatives
market Eurex service are based on Corvil's Latency Management System -
CorvilNet 5.2.

"Deutsche Börse Systems is committed to providing our trading members
with the highest levels of latency transparency to optimize their trading
experience on our platforms," said Gerhard Lessmann, Member of the Executive
Board, Deutsche Börse Systems AG. "By leveraging the unique latency
measurement and analytics capability of the CorvilNet platform, we have
successfully achieved an industry first in low latency monitoring and
reporting for high frequency trading."

The new service provides latency statistics for Enhanced Broadcast
Solution market data messages for both streams of the live-live-setup over
the entire business day. Historical Information for up to five business days
is provided. The contents of the latency information provided include:
minimum, average and maximum latency in microseconds, as well as 90 percent
and 99.5 percent latency percentiles. Currently the data is published for
users of the most latency sensitive Proximity Services. Extension to all
other Xetra and Eurex Access Points is in preparation.

For Enhanced Transaction Solution trading sessions, both Xetra and Eurex
use CorvilNet to monitor round-trip response times for all member's trading
sessions to the trading gateways. Statistic data is published on all relevant
sessions (showing an ample amount of transactions) providing the average,
median, 99th percentile, 99.9th percentile, fastest, slowest and overall
normalized ranking. The "overall ranking field" provides the relative latency
ranking for the given trading session amongst peer trading sessions in the
market.

The new latency monitoring and reporting service is accessible to all
members via the Xetra member section on the Deutsche Börse web site and in
the member section on the Eurex website.

"This is the first time we have seen a market center offer normalized
latency ranking information for a high frequency market. Relative latency
information is what is important for traders. It does not matter how fast
someone is trading, it only matters how fast they are trading relative to all
others in the market at the same time," said Donal Byrne, CEO of Corvil.
"This project represents a significant advancement in the state of the art
for latency monitoring and transparency and I am delighted to see Deutsche
Börse Systems leveraging CorvilNet to achieve this innovative breakthrough."

About Corvil

Corvil, leader in electronic trading and market data latency management,
was founded in 2000 and operates from New York, London and Dublin. The
company's global client base spans exchanges; high frequency traders;
investment banks and market service providers. Recognized as a technology
innovator in latency management, Corvil's products offer a complete solution
for enhancing electronic trading, execution and market data delivery
including SLA (service level agreement) compliance, performance monitoring,
event troubleshooting and infrastructure optimization. For more information
on Corvil, please visit www.corvil.com.

Contact: Corvil, Collette Bird, +353-1-859-1000, E-mail: collette.bird at corvil.com