1. 1 Execution possibilities for corporate treasurers

2. 22  Market leading multi-bank / cross-asset trading platform  Global coverage / 24h support  70+ liquidity providers  500+ customers  Users in more than 40 countries  Over €18 bln daily trading volume in FX  Over €15 bln daily trading volume in MM  Provider of intra-group / white-label trading platform  Fastest growing e-business venue world-wide (Euromoney survey 2008) About 360T

3. 3 The Core Elements of Treasury Capital markets and funding Bank lending, asset and project finance, dept capital markets, equity, … Cash and Liquidity Management Cash flow forecasting, cash management, payments, … Corporate Financial Management Accounting and reporting, corporate strategy, tax, legal, … Risk Management Business and operational risk, FX and interest rate risk, commodity risk, credit risk Treasury operations and control Control and reporting, policy and objectives, technology and system

4. 4 Possible ways of OTC trade execution Telephone / voice broker Electronic trading Trading platforms Single-bank platforms Multi-bank portals Unorganized ways of trading Reuters or Bloomberg chat

5. Functionalities TelephoneChatSingle-bank platform Multi-bank platform 360T Available features- - - / + + + + Availabilitybank working hours bank working hours 24h Costs+ + ++ + + +-+ Transparent pricing+O-+ + + + Implementation complexity + + + + O Managing of bank relationships ++- - -+ + + + Reduction of operational risk (MiFID) - - --+ + + + + + STP 5

6. Functionalities TelephoneChatSingle-bank platform Multi-bank platform 360T Market comformity check (MiFID) - - -- + + + + Reporting / Audit Trail (MiFID) - - -- O+ + + + Features mirroring market maker interest + + + - - --+ + + Authorization, regulation and passporting (MiFID) - ++ + + Integration - STP- - - O++ Synergy within group of companies -- - -some platforms include this feature O+++ 6

7. 7 Multi-bank Portal & Internal Platform Subsidiary 1 Subsidiary n Buy-side Sell-side Broker DealerMarket Taker Banks InstitutionalsCorporates Market Maker nMarket Maker 3 Market Maker 2Market Maker 1

8. How does a multi bank platform work? 8

9. 9 Selection of TEX ® references

10. Thank you!