Deutsche B rse AG said Thursday it's launching trading in US shares on its Xetra electronic platform from September, paving the way for Dow Jones Indexes to launch an indicative calculation of the Dow Jones Industrial Average from the opening of trade in the European morning. US shares traded on Xetra will be priced in euros and with market makers providing liquidity, Deutsche B rse said. The move is part of Deutsche B rse's Global Markets Concept strategy to offer broader trading of international shares.
Plans are to extend the concept to include more foreign shares from other markets.
Clearing and settlement in the US shares will be done through Clearstream International and its link with the US Depository Trust and Clearing Corporation. Calculation of the index during these European hours will be based on trading of the DJIA's 30 component US stocks on Xetra. Deutsche B rse will also provide prices for the components of its global blue-chip index, the Dow Jones Global Titans 50. The Titans index, which is already calculated 24 hours a day, will use Xetra prices for its U.S. and Asian components during European trading hours. After European markets close, the pricing source for the European and Asian companies will switch to American Depository Receipts traded on the NYSE, until trading in the home markets begins the next business day.