2010 will prove to be another challenging year for both Xtrakter and the capital markets as a whole.

As the markets recover from the effects of the recent crisis, they face a period of significant regulatory change, which is likely to occur across multiple jurisdictions and have many ramifications for the investment banking community. We remain mindful of the difficult times facing our clients and work in harmony with these firms to remain both valued and prosperous.

I am pleased to say that Xtrakter is well positioned to meet these challenges, as we continuously evolve as an organisation to meet our clients’ needs and as we draw upon a culture of agility and responsiveness in order to bring value to our user community.

In addition to a firm having the right systems, processes and expertise available, we must ensure that we have the right people onboard to drive the business forward and ensure we meet our corporate goals.  I would like to take this opportunity to welcome Yannic Weber as the new Chief Executive Officer for the company. Yannic brings many years of industry experience and Euroclear group knowledge to the firm. He will be working with a refreshed leadership team to ensure the firm continues to grow and prosper in these fascinating and complex times.

As both Xtrakter and other Euroclear companies proceed through 2010, we will continue to look for new ways to improve our performance, system efficiencies and methods of working together for the benefit of our clients and the marketplace as a whole.

Tim May

Chairman