FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2010
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
Thomas Krantz
WFE Secretary General
In 2010, two exchange federations will be
celebrating important anniversaries, a
point well worth noting. The World
Federation of Exchanges (WFE) will
celebrate its 50th anniversary, while the
Federation of Euro Asian Stock
Exchanges (FEAS) will celebrate its 15th
anniversary.
The two sister exchange federations have
a great deal in common, as well as their
separate, distinct missions.
The World Federation of Exchanges
mission is categorized under 4 headings:
• Quality: promote market standards and
reliable statistics
• Advocacy: working with policy-makers,
regulators and government organizations
for fair, transparent and efficient markets
• Networking: bringing together exchange
experts to improve markets
• Development: helping newer, smaller
exchanges to meet WFE standards.
In achieving the objectives of its mission,
WFE collaborates with seven regional
federations. These regional federations
have similar objectives, but given the
nature of economics and geography,
much of their work remains specific and
local. That is the great advantage of the
system.
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FEAS is the Federation for Euro Asian
Exchanges. WFE has maintained close
collaboration with FEAS since its
founding. The FEAS Secretariat has made
extensive use of WFE materials, adjusting
and reapplying them in very appropriate
ways for the region in which it operates,
and so continuously working with WFE to
achieve its objectives. Special emphasis
has been put on the development of the
member exchanges to meet the WFE
standards. Frequent training opportunities
facilitated by FEAS through the meetings,
publications, bilateral visits financed by
FEAS, and collaboration on task forces,
have enabled the member exchanges to
achieve high standards in the operation of
regulated, public markets.
WFE workshops, committee meetings,
and the annual meeting, geared towards
networking among exchanges and capital
markets experts, have been open to
members of regional federations, and all
professional documentation outside the
governance of WFE has been sent for
dissemination by the FEAS secretariat.
In support of good corporate governance
and responsible investment, WFE has
participated in the working of regional
federations, among which FEAS had a
prominent role. The alignment of work is
probably clearest in the standardization of
market statistics, which could not have
been achieved without the collaboration
between WFE and the regional
federations.
In summary, if WFE is the central core of
industry information for exchanges, the
common base to all, the regional
federations extend the reach of this
information base far beyond what the
WFE could do on its own. Together, the
groupings of exchange federations create
a broad and deep interaction that is so
vital for a healthy and prosperous
exchange industry across the world.
Today I congratulate the WFE’s sister
federation, FEAS, on the occasion of this
anniversary. The work it has
accomplished has enabled exchange
managers to work far better across the
region on behalf of developing savings for
national investment, and FEAS itself has
also created solid personal ties among
these persons. That, too, advances the
spread of knowledge quite efficiently.
These are real achievements to note.
I have every reason to expect that these
achievements will continue to be more
profound going forward.
To all FEAS exchanges, the WFE
Secretariat extends its cordial regards.