Conditions of usage of the Trainingscenter Homepage of Deutsche Börse AG.

1. Area of application

The following conditions of usage in the respectively applicable version regulate access to the Forum and the usage of its services, the Chat and the database "Chat Archive" on the homepage "trainingscenter.deutsche-boerse.com" of Deutsche Börse AG (the homepage of the Trainingscenter). They will be disclosed to every user prior to registration. By registering in the Forum and in the Chat on the Trainingscenter homepage, the user declares readiness to accept the conditions of usage in their respective version as an integral part of his contract with Deutsche Börse AG and to use the pages of the Forum and the Chat as well as the "Chat Archive" in compliance with the applicable law and the conditions of usage.

2. Changes in the conditions of usage

Deutsche Börse AG reserves the right to change the conditions of usage at any time. The modified conditions of usage will be made available to every member online on this page. The registration as user is terminable at all times in accordance with item 8 of the conditions of usage. In continuing to use the Forum, the Chat or the "Chat Archive" on the Trainingscenter homepage, the user declares tacit recognition of the modified conditions of usage. In case of an objection, the access authorization ends on the expiration of a one-month deadline after the receipt of the objection, without necessitating any further termination by Deutsche Börse AG or the user.

3. Conditions of registration

The services of the Forum, Chat and "Chat Archive" on the Trainingscenter homepage can be used only after registration as user. To become a user, the registration form must be filled completely and truthfully ("Registration data"). Thereafter, the user obtains a name and a password (the data of the user). He is obliged to keep the registration data updated. The data of the user shall be kept secret by the user.

The registraion is free of charge.

Every user is entitled to only one access authorization and the utilization of the related benefits. The access authorization and the related services of the Forum, Chat and "Chat Archive" on the Trainingscenter homepage shall be used solely for personal purposes and are not transferable.

Deutsche Börse shall have the right to decline approval of access authorization.

Through continued usage of the Forum, Chat or the "Chat Archives" on the Trainingscenter homepage, already registered users declare recognition of same as an integral part of their contract with Deutsche Börse AG with full knowledge of the conditions of usage and declare readiness to use the pages of the Forum, Chat and the "Chat Archive" in accordance with the applicable law and the conditions of usage.

4. No investment counseling, financial services or securities-related services by experts of Deutsche Börse AG

The information/statements offered by employees of Deutsche Börse AG and its agents particularly in the field of economic and stock-market trends and forecasts are non-binding. Our employees do not offer tax, legal or investment counseling. Statements by employees of Deutsche Börse AG are no substitutes for professional counseling through financial, investment, economic or tax consultants or auditors. They, particularly, do not constitute recommendations on securities, financial products or instruments. Furthermore, information contained in the statements constitutes neither an offer nor advertisement on the purchase, sale or holding of securities. Moreover, with the statements of our employees, no financial services in line with the German Banking Act and also no securities-related services in line with the Securities Trading Act are offered. Through registration, the user declares awareness of this and acknowledges same through the recognition of the conditions of usage.

5. Copyright

(a) Entering copyright-protected materials

Entering contributions by the user shall be done with due regards for the rights of third parties and legal stipulations. Every protected content distributed by a user shall contain a reference to the protective right to which it is subjected irrespective of any other legal stipulations. No copyright-protected material shall be entered in the Forum or the Chat of the Trainingscenter homepage without the express permission of the author or owner of such copyright-protected material. The user of the Forum, Chat and the "Chat Archive" on the Trainingscenter homepage shall exempt Deutsche Börse AG in any case from any third-party claims arising from the breach of the rights of third parties or behavior in breach of the law or contractual provisions, particularly copyright or other protective rights of the user, as may be invoked against Deutsche Börse AG. Deutsche Börse AG shall have the right to inspect and delete contents entered into the system by users of the Forum and Chat.

Should the user spread contents that are protected by protective rights in the publicly accessible Forum or the publicly accessible Chat on the Trainingscenter homepage - as long as no other agreement has been reached – this shall be regarded as a guarantee by the user that the owner of the rights has completely and effectively issued all necessary authorizations, i.e. that he has effectively and irrevocably granted the user the non-exclusive right to use, imitate, change, process, publicize, translate, spread world-wide and link the contents to other contents in the Forum, Chat and in the database "Chat Archive" on the Trainingscenter homepage free of charge and without limitation of time and place.

(b) Usage of the information contained in the contributions entered by the user

By registering for our services and entering contributions, the user agrees that Deutsche Börse AG is permitted to transfer information from contributions of the users to its database "Chat Archive". For this purpose, the user shall issue to Deutsche Börse AG the non-exclusive right of distributing, changing, editing, publicizing or translating these contents free of charge and without limitation of time and place. Granting these rights shall, at the same time, cover the right already owned by Deutsche Börse AG of integrating the contents entered into other contents of all forms in the database on the Trainingscenter homepage and of using them for advertisement purposes of Deutsche Börse AG.

(c) Copyright on the contributions entered and their entirety

The material entered in the Forum, Chat and in the "Chat Archive" on the Trainingscenter homepage is subject to our copyright or the copyright of a third party. The copyright protection shall, without limitation, cover texts, photos and graphics and relate to individual works as well as to collections as contained in the database "Chat Archive". The user shall have the right to produce an adequate number of copies of parts of the contents for personal use as well as to use same. Every other usage of information beyond the scope of personal needs like replication, modification, distribution, marketing and passing-over to third parties shall not be permitted without the consent of the respective author.

6. Within the scope of the usage relation, every user hereby declares readiness:

- to refrain from entering contents that are non-factual, deliberately untrue, dishonoring, derogatory, slanderous, morally indecent, obscene, inflammatory, racist, defamatory or pornographic or may violate the Data Protection Act,

- not to commit criminal acts or minor offences in the usage of the Trainingscenter homepage or violate other legal norms and not to promote illegal acts,

- to observe the rights of third parties, particularly patent, copyright, trademark and service mark protection, identification and ornamental design rights,

- not to enter viruses or other computer programs into the system which may impair the function of the Trainingscenter homepage or related software, extraneous software or hardware,

- to refrain from entering opinion surveys or chain letters,

- not to gather and/or save personal data on other users,

- not to disseminate contents that propagate a political, ideological or religious position,

- not to enter advertisement disguised as opinion in the Forum, Chat or the "Chat Archive",

- not to behave in a manner that disturbs the chat room like data flooding, bombing or activities that may impair the process of chatting,

- not to claim to be somebody else,

- not to spread rumors, unconfirmed statements of facts or similar with respect to monetary investments or proposed monetary investments.

Deutsche Börse AG asks users of the Forum, Chat and the "Chat Archive" to keep its employees informed if they come across information in the Forum, Chat or the "Chat Archive" which, in their opinion, constitutes a breach of these conditions of usage.

Deutsche Börse AG shall have the right to verify the contents entered. In case of a violation of these conditions of usage, legal stipulations, the rights of a third party or for other objectively justified reasons, Deutsche Börse AG shall have the right to delete contents without giving any reasons.

7. Liability, exclusions

Deutsche Börse AG shall bear no liability for contents that are opened or made accessible to users in the Forum, Chat and the "Chat Archive" on the Trainingscenter homepage. The contributions entered reflect the opinion of the respective author. This applies in so far as exclusions can be effected within the scope of legal provisions.

Furthermore , warranty obligations shall be excluded as far as legally possible. Deutsche Börse AG shall bear no liability for the correctness or completeness of the information in the Forum, Chat and in the "Chat Archive" of the Trainingscenter homepage.

Moreover, Deutsche Börse AG shall bear liability only for major culpable breaches of contractual obligations when they are deliberate or based on wanton negligence.

Deutsche Börse AG shall not be liable for damages occurring as a result of the Act of God, fire, explosion, accident, uprising, war and natural events or other occurrences (e.g. strike, lockout, traffic anomalies, dispositions by domestic or foreign authorities) for which it is not causally responsible, or non-culpably generated technical problems of e.g. the computer system such as may have been caused by system failure or network access.

8. Terms of access authorization

The usage of the services of the Forum, Chat and the "Chat Archive" on the Trainingscenter homepage shall be free of charge.

Deutsche Börse AG shall have the right to terminate access authorization without notice at any time and for objectively justified reasons without prior warning. An objectively justifiable reason is given particularly where the user violates applicable laws or the conditions of usage.

The user may terminate access authorization by email at any time without specifying reasons to Deutsche Börse AG.

As soon as the termination takes effect, Deutsche Börse AG shall have the right to delete all data which the user has entered in the Forum, Chat and the "Chat Archive" on the Trainingscenter homepage. (The termination of the conditions of usage shall be directed to the email address: trainingscenter@deutsche-boerse.com).

The user shall ensure that unauthorized third parties do not gain access to the name of the user, password or to replicated copies prepared by him as an authorized party or that unauthorized parties acquire knowledge of the content of the data in the "Chat Archive". The user shall bear liability for unauthorized usage by third parties until he informs Deutsche Börse AG by email (to be addressed to trainingscenter@deutsche-boerse.com) of the unauthorized usage and, if necessary, changes the password. In case of a suspected misuse or breach of contract, Deutsche Börse AG reserves the right to investigate, take appropriate measures and, in case of justified suspicion, bar the access of the customer where necessary.

9. Data protection

Deutsche Börse AG respects the private sphere of the users and complies strictly with applicable data-protection regulations. Data and information on the user gathered or processed by Deutsche Börse AG within the framework of the registration process shall be used by Deutsche Börse AG only within the scope of legal provisions.

The user hereby agrees that Deutsche Börse AG saves in a machine-readable form and processes the data collected by it within the scope of the registration process for tasks resulting from the conditions of usage for the Forum, Chat and the "Chat Archive". Deutsche Börse AG guarantees the confidential handling of these data.

10. Partial invalidity clause

In case individual provisions of this agreement become invalid, the validity of the other parts of the agreement shall remain unaffected. In place of the invalid regulation, the parties shall agree on a valid regulation closest to the objectives of the invalid regulation.

11. Applicable law and legal venue

The laws of the Federal Republic of Germany shall apply to all legal relations resulting from the usage of the Forum, Chat and the "Chat Archive" on the Trainingscenter homepage. As far as legally permissible, Frankfurt am Main shall be deemed agreed as legal venue.