Scoach Introduces a Barometer to Gauge Certificate Market Sentiment

With its new "Scoach Put/Call Sentiment", the Frankfurt certificate exchange Scoach offers a barometer for gauging the latest sentiment on the certificate market. Investors can use the new information offer as a basis for their trading decisions.

The information tool includes all transactions in exchange trading of leverage products on the DAX® underlying (knock-out products and warrants); measurement is made on the basis of volume traded. Purchases in calls plus sales in puts (optimistic) are divided by purchases in puts plus sales in calls (pessimistic) for the ongoing calculation of the Put/Call Sentiment.

The sentiment barometer registers a value between 0 (short investments only) and 1 (long investments only). For example, if the Scoach Put/Call Sentiment displays a value of 0.3, the majority of investors in the course of the day thus far have hedged on falling markets. Such information can offer useful hints, especially for short-term investment strategies.

Scoach has contracted the European Derivatives Group (EDG) to calculate this market barometer. The Call/Put Sentiment is published on an ongoing basis on the website www.scoach.de.

Further information:

Calls and Puts

Calls are purchase warrants; puts are sales warrants. Buyers of calls and sellers of puts are hedging on rising underlyings. Buyers of puts and sellers of calls expect falling markets.

Scoach

Scoach is a joint venture between SIX Group and Deutsche Börse AG. It began trading in structured products in January 2007. With its extensive offering and two exchanges, in Frankfurt and Zurich, Scoach has established itself as Europe's leading market for certificates and warrants. www.scoach.com

European Derivatives Group (EDG)

EDG AG provides quantitative analyses in the financial sector that enable investors to quickly comprehend complex (product) structures. These analyses include product and risk ratings as well as calculating key indicators and sensitivities (Greeks). EDG is part of the vwd group, an exchange-listed provider of information, communications and technology solutions for the securities market. www.derivatives-group.com

DAX® is a registered trademark of Deutsche Börse AG.