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Brian Healy, Director of Traded Markets, Business Development, Operations Irish Stock Exchange 25 th November, 2009

WFE-MIT Exchange Technology Workshop. IT Strategies – ISE Approach. Brian Healy, Director of Traded Markets, Business Development, Operations Irish Stock Exchange 25 th November, 2009. Irish Stock Exchange Business Context of Exchanges’ IT Strategies ISE IT Approach Conclusion. Overview.

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Brian Healy, Director of Traded Markets, Business Development, Operations Irish Stock Exchange 25 th November, 2009

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  1. WFE-MIT Exchange Technology Workshop IT Strategies – ISE Approach Brian Healy, Director of Traded Markets, Business Development, Operations Irish Stock Exchange25th November, 2009

  2. Irish Stock Exchange Business Context of Exchanges’ IT Strategies ISE IT Approach Conclusion Overview

  3. ISE Traded Market capitalisation (as of 12/11): Equity €123bn Government Bonds €71bn World class market infrastructure based on strategic technology partnerships and on proprietary systems Globally accessible and transparent markets Global/European leader in Funds/Debt markets >8,000 funds and 25,000 debt securities listed New products and services Global Exchange Market for Debt Securities ETFs in commodities & alternative sectors Irish Stock Exchange

  4. Competition Consolidation Commoditisation Fragmentation Changed Regulatory Environment Business Context of Exchanges’ IT Strategy

  5. Upgrading of business models necessary to remain relevant Technology is key competitive advantage To compete exchanges need to have efficient, fast, cost competitive trading technology Continuous improvement and innovation in IT to meet customer demands for: Latency Capacity Co-location, significant driver of exchange investment Development of new order types and market models System resilience Cost reduction Business Context of Exchanges’ IT Strategy

  6. Combine strategic outsourcing with proprietary capability If business priorities are: Access Economies of scale Competing globally Cost competitiveness Then Partner/outsource If business priorities are: Specialist knowledge Flexibility Intellectual Property ownership USP/Competitive advantage Then proprietary development ISE IT Approach

  7. Partnering: Trading Systems: ISE Xetra, EuroMTS Clearing & Central Counterparty: Eurex Clearing AG Settlement: Euroclear Proprietary: E-listing Platform MIS and Supervision ISE IT Approach

  8. ISE IT Approach Trading Infrastructure Overview Reduction in latency of interaction with issuers as well as with trading firms

  9. Ex-Stream E-Listing Platform

  10. Conclusion • No Single Answer • Flexible approach to IT strategy to suit business model • Competitive advantage Deutsche Börse Source: FESE

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