October 29, 2013
Today, at the WFE General Assembly in Mexico City, the WFE delegates have made a landmark decision to approve moving the WFE's headquarters from Paris to London. The move to London will be envisaged by the end of 2013.
"Moving the WFE headquarters to London will place WFE in closer proximity to a wider universe of our members and their customers", said Andreas Preuss, Chairman of the WFE Board of Directors. "This will underpin our strong commitment to maintaining an on-going dialogue with these key constituencies."
"Our ultimate goal is to transform WFE into a more outward looking organization actively engaged with the financial industry," said Hüseyin Erkan, CEO of the WFE. "The WFE's presence in London will place us in close proximity to many of our members' operations, as well as to the global financial media, and will facilitate our interactions with the major sell-side and buy-side of the markets as well as other stakeholders of our industry."
Chairmen and Chief Executives from more than 50 of the world's leading exchanges are gathered in Mexico City this week for the 53rd WFE General Assembly and Annual Meeting. The Annual Assembly represents the largest and most widely attended gathering of global exchange leaders.
Award for Excellence
This year's "WFE Award for Excellence" was presented to Professor Robert C. Merton, MIT Sloan School of Management, and Professor Myron Scholes, Stanford Graduate School of Business and the late Fischer Black, former Director of the Quantitative Strategies Group at Goldman Sachs, in recognition of their development of the groundbreaking Black-Scholes Model in 1973. Professor Merton will accept the award in person at a ceremony during the Annual Meeting.
New WFE Member Exchanges
The WFE General Assembly approved the membership of Dubai Financial Markets, Hochiminh Stock Exchange, Kazakhstan Stock Exchange, New Zealand Stock Exchange, and Qatar Exchange. Together with these new members, WFE membership includes 62 regulated exchanges.
WFE Elects 2014 Board of Directors
The General Assembly also elected its new Board of Directors for 2014. A list of the new directors is included below.
WFE Annual Meeting 2014
The next WFE Annual Meeting will be hosted by the Korea Exchange in Seoul.
ABOUT THE WFE:
The World Federation of Exchanges is the trade association for the operators of regulated financial exchanges. With 62 members from around the globe, the WFE develops and promotes standards in markets, supporting reform in the regulation of OTC derivatives markets, international cooperation and coordination among regulators. WFE exchanges are home to more than 45,000 listed companies.
WFE Board of Directors 2014:
Andreas Preuss, Deutsche Börse AG
Thomas Kloet, TMX
Group Chairman of the Working Committee
Ravi Narain, National Stock Exchange of India
Edemir Pinto, BM&FBOVESPA,
Phupinder Gill, CME Group,
William J. Brodsky, CBOE Holdings
Luiz Tellez, Bolsa Mexicana de Valores,
Chow Chung Kong, Hong Kong Exchanges and Clearing
Gui Minjie, Shanghai Stock Exchange
Atsushi Saito, Japan Exchange Group
Kyungsoo Choi, Chairman & CEO, Korea Exchange
Europe - Middle East - Africa
Tony Weeresinghe, London Stock Exchange Group
Nicky Newton-King, Johannesburg Stock Exchange
Ibrahim M. Turhan, Borsa Istanbul
Urs Rüegsegger, SIX Swiss Exchange
Duncan Niederauer, NYSE Euronext
Meyer S. Frucher, Nasdaq OMX