Morning Exchange is a television business news programme aired on CNBC Europe from 10am to noon CET between June 2003 and December 2005. The show was simulcast in the United States from 4am - 5am EDT. The European Morning Exchange was originally presented by Ross Westgate and Patricia Szarvas and contained rolling business news, focusing on the major European bourses. Segments included the Morning Meeting with an investment banker, and the 10:30am Talking Point in which several CNBC Europe business news correspondents debated an issue of the day. Morning Exchange used the same theme music as its U.S. counterpart, Morning Call. The programme began in June 2003, and replaced the similar programme European Market Watch. It ended its run on December 16, 2005, and was replaced by Worldwide Exchange.