Trade & Value AG is a Germany-based investment company, which focuses on investing in second-line stocks on the German stock markets. The Company operates with two different strategies: it makes short-term speculative investments and also long-term value-oriented investments. As of December 31, 2008 the Company’s portfolio consisted of shares, hedge positions and derivatives in the security papers including Prior Capital AG, Metis Capital Ltd., Pro DV Software AG, Garant Schuh + Mode AG and NAK Stoffe AG, among others. Trade & Value AG's short-term speculative trading activities are carried out over electronic trading systems.