Malta Stock Exchange Joins Federation Of European Securities Exchanges As Associate Member

by Carla Johnson, Investors Offshore.com

04 July 2001

During a General Assembly meeting of the Federation of European Securities Exchange (FESE) last month, the FESE approved an application by the Malta Stock Exchange (MSE) for Associatiate Membership after the Exchange had become a Corresponding Member last year.

The FESE represents the collective interests of European exchanges as they seek to improve their individual and collective efficiency and effectiveness. It is a Brussels-based association of the regulated securities markets in Europe, and having recently extended its membership conditions, it counts today 25 full members from the countries of the EU plus Iceland, Norway, and Switzerland, as well as six Associate Members and several Corresponding Members from EU accession candidate countries.

The organisation says that Associate Membership is open to exchanges from those countries of Central, Eastern, and Southern Europe that are in accession negotiations with the EU. Candidates must fulfil a number of quality criteria set up by the Federation and the legislative and regulatory framework in their countries must show a clear "rapprochement" towards the contents of EU financial markets legislation. Associate Membership is granted following an evaluation process by the Federation, carried out by representatives from Member Exchanges.

'It is an honour and a privilege for the Malta Stock Exchange to be welcomed as an Associate Member of the Federation, said Joseph V Laspina, Deputy Chairman of the Exchange. He added: 'Though still young and small, the MSE has always striven to set up the structures and regulations necessary to operate on an internationally accepted standard. We see FESE's acceptance of our Exchange as an Associate Member as a confirmation of our success in this respect.'

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