The document provides an overview of membership types and requirements for joining the Eurex derivatives exchange. It describes the different categories of members - Non-Clearing Members, General Clearing Members, Direct Clearing Members - and associated rights and obligations. Requirements include minimum capital, contribution to the clearing fund, technical connectivity, and more. Incentive programs are outlined to encourage new memberships.

1. Membership Overview August 2009

2. Contractual Relationships at Eurex Clearing AG Eurex – The International Derivatives Exchange | Membership Non-Clearing Member General Clearing Member Direct Clearing Member Company-Affiliated Non-Clearing Member Can execute: proprietary business customer business Can clear: business of Non- Clearing Members with whom they have a clearing agreement Can execute and clear: proprietary business customer business Can clear: business of a 100% affiliated Non-Clearing Member Can execute and clear: proprietary business customer business Can execute: proprietary business customer business Customer Customer Customer Customer Derivatives Clearing Member Only Can clear: business of Non- Clearing Members with whom they have a clearing agreement Customer Eurex Clearing AG

3. Concrete Outline of Membership Incentive 2009 (1/2) Three fix components and a fourth component of choice No MTF during the first year of membership Reimbursement for up to 10 trader or QBO exam fees and 10 GUI training fees Choice between three packages with different levels of connection fee and transaction fee incentives* For new members without own connection or with internet connection to Eurex For new members with standard connection to Eurex For new members with enhanced ETS/Enhanced Broadcast Solution connection to Eurex * The 4th component will be explained in detail on the next slide or or   Access to Enhanced Broadcast Solution/ETS Simulation. Up to six months for free retroactively upon membership  4.1 4.2 4.3  Eurex – The International Derivatives Exchange | Special Incentives and Initiatives For new members admitted from 1. January until 31. December 2009

4. Concrete Outline of Membership Incentive 2009 (2/2) 1,500 1,500 4.2 Standard Connection Package 4.3 Enhanced Connection Package If trading volume within first 6 months exceeds 0.3 mn contracts 1,500 Otherwise Month 1-6 of membership Month 7-12 of membership 3,000 1,500 If trading volume within first 6 months exceeds 1 mn contracts Otherwise 3,000 1,500 Monthly Standard Connection Fee Waiver Monthly Transaction Fee Waiver 1,500 Monthly ETS/Enh.Broadc.Sol. Connection Fee Waiver Monthly Transaction Fee Waiver => Up to EUR 36,000 total incentive p.a. => Up to EUR 54,000 total incentive p.a. => Up to EUR 36,000 total incentive p.a. 1,500 1,500 4.1 Minimum Connection Package 3,000 1,500 If trading volume within first 6 months exceeds 0.3 mn contracts 3,000 Otherwise => Up to EUR 36,000 total incentive p.a. => Up to EUR 27,000 total incentive p.a. Monthly Transaction Fee Waiver Eurex – The International Derivatives Exchange | Special Incentives and Initiatives => Up to EUR 27,000 total incentive p.a.

5. Direct and high-performance access to a broad product range without systems restrictions Lower transaction fee compared to indirect access Real-time data feed with market depth free of charge for the members Elimination of counterparty risk due to the central counterparty Eurex Clearing AG First-hand information on new products, functionalities and services The Advantages of Non Clearing Membership at a Glance Eurex – The International Derivatives Exchange | Membership

6. Requirements for Becoming a Non-Clearing Member Registration of Individuals The applicant must Conduct of derivatives trading in a commercial manner Evidence that the respective applicant is subject to proper banking or exchange regulation in its country of origin Minimum liable Equity Capital of EUR 50,000, unless the applicant is a bank Admission and registration of at least one Exchange Trader (Trader Admission) Registration of at least one qualified a Back Office Staff member appoint at least one Nominated Person who is entrusted with the management and authorized to represent the company; has professional experience and is personally reliable. Participation in the clearing process - either by signing a NCM-Clearing Member Agreement with a General Clearing Member (GCM) or with a Direct Clearing Member (DCM) and Eurex Clearing AG. A DCM may act as clearer for a NCM provided the companies are 100 percent affiliated. Compliance with mandatory technical requirements for connection to the Eurex® system (connection alternatives) National requirements Eurex – The International Derivatives Exchange | Membership

7. Additional Requirements for Becoming a General/Direct Clearing Member (1/3) Legal Requirements The applicant is domiciled in the EU or Switzerland and is licensed by the local authority to operate and conduct safe custody business, lending operations and the receipt of collateral. is under surveillance of responsible local authority. Capital Requirements The applicant has a minimum liable equity capital of Irrespective of the minimum amounts of liable equity capital specified above, the actual amount of liable equity capital to be guaranteed and maintained shall be: 10% of the 30-day average of the total margin or 10% of the 250-day average of the total margin requirements. If the applicant does not have sufficient liable equity capital, it may compensate for the difference by submitting a guarantee from another bank or depositing collateral in cash or securities. The guarantee has to be provided by a credit institution based in Europe or Switzerland. The credit institution and the applicant have to be different legal entities. Eurex – The International Derivatives Exchange | Membership EUR EUR DCM GCM 12,500,000 Derivatives Clearing License 125,000,000

8. Requirements for Becoming a General/Direct Clearing Member (2/3) Contribution to the Clearing Fund The applicant provides a contribution to the Clearing Fund: The Clearing Fund contribution can be submitted in the form of a guarantee and/or collateral in securities and/or cash. The guarantee has to be provided by a credit institution based in Europe or Switzerland. This credit institution has to be a different legal entity than the applicant. Clearing Members have to deposit the largest amount of either: 2% of the 30-day average of total margin requirement, or 2% of the 250-day average of total margin requirement Eurex – The International Derivatives Exchange | Membership EUR EUR n/a NCM DCM GCM 1,000,000 Contribution to Clearing Fund 5,000,000

9. Requirements for Becoming a General/Direct Clearing Member (3/3) Accounts The applicant needs to have or open an account at the Deutsche Bundesbank (BUBA), the Schweizerische Nationalbank (SNB) and Clearstream Banking AG (CBF). needs to provide evidence of a securities and a pledged securities account – which is a securities sub-account – with the central custodian Clearstream Banking AG (CBF) or SIX SIS AG (SIS). Eurex – The International Derivatives Exchange | Membership Derivatives Clearing License SIX SIS AG (SIS) Clearstream Banking (CBF) Clearstream Banking (CBF) Deutsche Bundesbank (BUBA) and/or Securities Account Schweizerische Nationalbank (SNB) SIX SIS AG(SIS) Cash Account or Clearstream Banking (CBF) Clearing License Pledged Securities Account

10. Clearing Status: Derivatives Clearing Member Only Companies wishing to apply for a Clearing License may choose between a Clearing License which entitles its holder to clear derivatives transactions and is conditional for the applicant being admitted as exchange participant at the Eurex Exchanges, and a Clearing License which makes the holder a “Derivatives Clearing Member Only” (“CM Only”) without the condition that the applicant must be an exchange participant at the Eurex Exchanges. Benefits of the new “CM Only” status are: Application for admission as a trading member at the Eurex Exchanges is not required. Nomination of a dedicated natural person holding a trading license is not required. No minimum transaction fees will be charged. Information about costs can be found on the Eurex website: www.eurexchange.com > Clearing > Clearing Fees & Pricing Eurex – The International Derivatives Exchange | Membership

11. Technical Connection/Client Server Architecture * A Clearing Member must be connected with at least one leased line and one internet connection . Eurex – The International Derivatives Exchange | Membership Member Responsibility Host Access Point Exchange Responsibility LAN Router Technical Connection/Standard Member Configuration 2 member-integrated system servers (MISSes) in a MISS group MISSes function as mutual back-ups with automated failover Gateway AP Client ETS Workstation Workstation Workstation MISS MISS

12. Equinix and COLT Deutschland are preferred housing partner of Eurex’s IT service provider, Deutsche Börse Systems (DBS) Benefit from our Proximity Services by connecting via Equinix or COLT Deutschland and enjoy Advantages of Proximity Housing Eurex – The International Derivatives Exchange | Additional Services ultra low latency access prompt connection possibility lowest round-trip times due to the shorter distance to Deutsche Börse Group’s execution venues actual availability of more than 99.999%

13. Cost at a Glance 125,000,000 Eurex – The International Derivatives Exchange | Membership 9,000 EUR 9,000 EUR 9,000 EUR Minimum transaction fee per quarter n/a 25,000 EUR 25,000 EUR Annual clearing fee Capital requirements, Clearing Fund & Admission Fees 50,000 5,000,000 EUR EUR EUR GCM 50,000 1,000,000 12,500,000 EUR EUR EUR DCM NCM n/a One-time clearing admission fee EUR n/a Contribution to Clearing Fund Capital requirements 50,000 Please find the most current version of the trading fees on our website: www.eurexchange.com > Trading > Trading Fees & Pricing (the fees include trading and clearing.) 9,000 EUR Minimum transaction fee per quarter 0.38 EUR Equity index futures EUR EUR 0.20 Fixed income futures Average all products Fees include trading and clearing and vary by product/product group 0.22

14. Fees for Eurex Benchmark Products Eurex – The International Derivatives Exchange | Membership Price/EUR Product 0,20 Fixed Income Derivatives (Futures and Options on Bund, Bobl, Schatz) 0,30 DJ EURO STOXX 50 Options 0,30 DJ EURO STOXX 50 Futures 0,75 DAX ® Option 0,50 DAX ® Future 0,20 Equity Options (example German shares) 0,20 Single Stock Futures (example German shares)

15. Connection Costs (1/2) Eurex – The International Derivatives Exchange | Membership Dubai not available not available not available not available not available not available 8 Gibraltar on request on request on request on request on request EUR 30,000 7 Greece on request on request EUR 55,800 EUR 27,600 EUR 27,600 EUR 20,000 6 Australia on request on request EUR 21,600 EUR 16,300 EUR 13,200 EUR 10,000 5 Austria, Finland, Portugal, Singapore, Spain, Sweden on request on request on request on request on request EUR 6,000 4 Belgium, Denmark, France, Germany, Italy, Luxembourg, Netherlannds, Switzerland, United Kingdom, USA on request on request EUR 9,500 EUR 8,500 EUR 7,500 EUR 6,000 3 Helsinki, Madrid Vienna on request on request on request on request on request EUR 3,500 2 Amsterdam, Chicago, Dublin, Frankfurt, London, Mailand, New York City, Paris, Zurich EUR 6,500 EUR 6,000 EUR 5,500 EUR 4,750 EUR 4,250 EUR 3,500 1 Proximity Service (regardless of bandwidth) EUR 2,000 EUR 2,000 EUR 2,000 EUR 2,000 EUR 2,000 EUR 2,000 0 Lcations 70 MB 60 MB 50 MB 30 MB 20 MB 10 MB Tier Location dependant Pricing

16. Connection Costs (2/2) Eurex – The International Derivatives Exchange | Membership per connected member EUR 500 Multi-Member MISS new for each additional line EUR 2,000 1 MB line First 2 sessions are for free EUR 700 ETS-Session new EUR 1,400 10 MB ETS-Channel new EUR 700 1 MB ETS-Channel new Enhanced Broadcast Solution & Enhanced Transaction Solution EUR 1,400 10 MB Channel or higher Bandwidth new EUR 700 1 MB Channel or higher Bandwidth new EUR 500 1 MB internet Only for the first 2 lines per member EUR 750 1 MB line VALUES API Special arrangements Price per item & month Item Category Non-Location dependent Pricing

17. Volume Thresholds & Rebates Eurex – The International Derivatives Exchange | Membership 30% 20% 10% 600,000 200,000 100,000 Options Equity Products 30% 20% 10% 240,000 80,000 40,000 Options 30% 20% 10% 1,200,000 400,000 200,000 Futures Equity Index Products 30% 20% 10% 60,000 20,000 10,000 Options 30% 20% 10% 2,400,000 800,000 400,000 Futures Interest Rate Products Rebate Band 3 Rebate Band 2 Rebate Band 1 Threshold 3 (# Contracts) Threshold 2 (# Contracts) Threshold 1 (# Contracts) Product Group Volume rebates will be calculated for P- and M-accounts excluding Market Maker rebates. The volume with Market Maker rebates will not be taken into consideration for calculating thresholds. Volume rebates are calculated on a monthly basis. Rebates are granted only for trading volume exceeding the respective thresholds. No Give-up or Take-up from other accounts

18. Intraday Risk Information Services (IRIS) enable risk assessment during the whole trading day by sending reports risk management information broadcast approximately every 10 minutes distribution to the MISS architecture This service is specifically aimed at Eurex Clearing Members. It is free of charge. The Theorectical price files (Theo File) is available twice a day (intraday as well as end of day) on our website eurexchange.com (member section) and will be distributed to the MISS architecture (during end of day and approx. 24.00h) Intraday Risk Information Services Eurex – The International Derivatives Exchange | Additional Services

19. IRIS: Advantages (1/2) Eurex – The International Derivatives Exchange | Additional Services Intraday risk assessment possible High performance of the Eurex risk management engine allows for continuous risk assessment. Intraday risk monitoring: Aggregated for Clearing Member of every Non-Clearing Member Intraday management reporting is possible. Pro-active Margin-call management as intraday monitoring provided. !

20. IRIS: Advantages (2/2) Eurex – The International Derivatives Exchange | Additional Services ! Risk is calculated externally by the Clearing House. Collateral management can be improved. Results can be compared with overnight batch calculation. Payments for the next business day can be estimated: Margin calls Premium Variation margin Software adaptations are made by the Clearing House and not by users.

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While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication DBAG, Clearstream, Eurex, Eurex Clearing, Eurex Bonds, Eurex Repo as well as the Eurex Exchanges and their respective servants and agents (a) do not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication. 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