www.deutsche-boerse.com

Global Funding and Financing

GFF

2 GFF Global Funding and Financing

Global Funding and Financing (GFF) integrates all Deutsche Börse Group’s services around securities financing, cash funding and collateral management.

Aligning our activities under GFF allows us to better address your new regulatory requirements and to serve your emerging needs in view of trading, risk and liquidity management more efficiently.

GFF makes it easier andmore efficient for clientsto manage collateral andaccess liquidity.

GFF

More than 600 international institutionsare using our funding, financing and collateral management solutions.Thereof more than 450 institutions use our Non-CCP (Central Counterparty)and 150 our CCP-cleared services.

3GFF Global Funding and Financing

Overview on GFF Services

1) Including eTriParty2) CCP & uncleared, Agency & Principal3) Baskets / single ISINs

Sele

ct In

vest GC Pooling

Triparty Repo Services 1)

Collateral Efficiency

Collateral M

obilisation

Collat

eral

Opt

imis

atio

n Select Finance

Securities Lending2)

Repo

Mar

ket3

)

Buy

side

Sel

lsid

eFunding

Financing

CollateralManagement

GC PoolingElectronic and anonymous cash liquidity trading in EUR, USD, CHF and GBP collateralized with pre-defined baskets of ECB eligible, non-ECB eligiblesecurities and equities. Sell- and buyside clients (via Select Finance) can benefit from this successfuland liquid market for standardized secured funding.

Select Invest Electronic and bilateral cash liquidity trading in EUR, USD, CHF and GBP. Buyside clients canlend cash to selected banks collateralized with pre-defined baskets of ECB eligible, non-ECB eligiblesecurities and equities.

4 GFF Global Funding and Financing

CCP-cleared services

Triparty Repo ServiceCash liquidity trading in USD, CAD, MXN, UYU,GBP, EUR, SEK, ILS, NOK, RON, CHF, DKK, CZK,ZAR, HKD, SGD, CNY, MYR, AUD, JPY, NZD andXAU collateralized with pre-defined or customizedbaskets of fixed income securities, equities or funds.Sell- and buyside clients benefit from automated processes and lower administrative tasks provided by Clearstream as neutral triparty agent.

eTriPartyElectronic and bilateral cash liquidity trading in EUR,USD, CHF, GBP, AUD, CAD, JPY and DKK collat-eralized with pre-defined fixed income and equitybaskets. Sell- and buyside clients can optimize their liquidity management in a transparent, secureand fully automated way.

Non-CCP-cleared services

Funding solutions

20,000 loan securities comprising European equities,ETFs and international government, corporate andcovered bonds. Lenders, who would like to trade anonymously, can benefit from the lending servicesof Clearstream as Agent Lender.

Select FinanceA trading license to this segment allows access to the GC Pooling and Repo Market. The membership is available for sell- and buyside clients. The linkedISA Direct Clearing license requires the involvementof a Clearing Agent who provides at least the clearingfund contribution and fulfills the default managementbidding obligations on behalf of ISA Direct clients.

CCP-cleared services

Financing solutions

5GFF Global Funding and Financing

Repo MarketElectronic and anonymous financing in EUR andGBP in two different segments: General Collateral (GC) and Special Repo segment. The GC segment offers several pre-defined and tailor-made baskets of fixed income securities. The Special Repo segmentprovides securities financing of single bonds. This market is available for sell- and buyside clients(access via Select Finance).

Seclend MarketElectronic and bilateral marketplace for securitieslending & borrowing. Sell- and buyside clients canselect the centrally-cleared services for more than

Automated Lending ASL and ASL principalClearstream provides automated lending of securitiesas lender of last resorts covering account shortage situations and enhancing settlement efficiency. One single contract provides borrowers with accessto a large pool of undisclosed lenders. The auto-matic detection of loan requirements is matched withidentified loan supply from lenders.

ASL principal is a unique service that forms part ofClearstream’s CSD and ICSD securities lending servicesenabling clients to borrow from or lend a single poolof securities regardless of their settlement and custodylocation. Lenders also benefit from the extended level of security associated to a principal structurewhere Clearstream acts as sole counterparty.

Non-CCP-cleared services

Strategic Lending ASLplus This strategic lending service increases lender revenueswhile providing liquidity to the market. Clearstreamacts as principal in the loan to the lender and takescare on all administrative functions including returnsand recalls as well as corporate actions as collateralagent. Loans are collateralized with bonds rated A+and higher and pledged in favor of the lenders.

Strategic Lending KAGplusKAGplus is a lending service of Clearstream’s GermanCSD (Central Securities Depository) customized toGerman investment funds and their custodian banks.These clients face limitations in their lending activitiesand collateralization possibilities under the GermanCapital Investment Code (KAGB – Kapitalanlagege-setzbuch) and Derivatives Decree. Our German CSDas certified Organized System under KAGB enablesboth lenders and borrowers to fully comply with regulatory requirements while at the same time maximizing lending activities.

Collateral mobilizationCapital constraints have created new financing challenges and banks are looking to create leaner inventory management processes in a bid to maxi-mize the use of all available asset classes as collat-eral. Clearstream’s real-time collateral managementand settlement engine allows counterparties to efficiently manage pools of collateral across differentaccounts, settlement locations and collateral man-agement activities. Clearstream has built partnershipswith electronic trading platforms, central counter-parties, central securities depositories and agentbanks, so that customers can cover all their exposuresfrom one platform.

Collateral optimizationOptimization of collateral is an essential part of a banks liquidity management infrastructure. Clearstream’s optimization rules provide firms with

automated controls designed to help them finance different portfolios and asset classes more effectively.In addition, our real-time processing engine allowscollateral to be managed more effectively across bothbilateral and triparty collateral management activities.

Collateral efficiencyNetting and cross-product margining create balancesheet and collateral efficiency for banks. DeutscheBoerse Group’s integrated product offering helpscounterparties to create solutions that combine exe-cution, risk management and post-trade serviceswhich in turn will allow them to generate balancesheet and cost savings from both CCP and non-CCP activities.

6 GFF Global Funding and Financing

Collateral management

For further information on our funding and financing solutions, please contact:gff-sales@deutsche-boerse.com

Further information

Published byDeutsche Börse AG60485 Frankfurt/MainGermanywww.deutsche-boerse.com

September 2017Order number 2410-4753

DisclaimerNeither Eurex Repo GmbH (Eurex Repo), Eurex Clearing AG (Eurex Clearing), Clearstream Banking S.A. (Clearstream) nor its servants noragents, is responsible for any errors or omissionscontained in this publication which is published for marketing information only and shall not con-stitute investment advice. Any information herein is not intended for solicitation purposes but only for the use of general information for professionalclients. Eurex Repo GmbH (Eurex Repo), Eurex Clearing AG (Eurex Clearing) and ClearstreamBanking S.A. (Clearstream) offer the described services of this newsletter directly to their partici-pants. Those wishing to trade in any products available on the Eurex Repo marketplace or to offerand sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associatedwith such products before doing so.

Trademarks and Service Marks: Eurex Repo®, Euro GC Pooling®, GC Pooling®, GCPI®, USD GC Pooling®

are registered trademarks of DBAG. The STOXX®

indices, the data included therein and the trademarksused in the index names are the intellectual propertyof STOXX Limited and/or its licensors. Eurex deriv-atives based on the STOXX® indices are in no waysponsored, endorsed, sold or promoted by STOXXand its licensors and neither STOXX nor its licensorsshall have any liability with respect thereto. The names of other companies and third party products may be trademarks or service marks of their respective owners.