Following a unanimous decision by the General Assembly of the Federation of European Securities Exchanges held in Brussels on 1 December 2009, Boerse Stuttgart, Europe's leading exchange for investment and leverage certificates, will become a member of the FESE on 1 January 2010.
"In recent years, we have seen a tremendous rise in the impact of European legislation such as the Financial Markets Directive (MiFID), so it is very important that we represent our interests at a European level along with other stock exchanges. Boerse Stuttgart would like to use its membership of the Federation as a way of making an active contribution to the debate on the future development of the financial markets," said Christoph Lammersdorf, Chairman of the Management Board of Boerse Stuttgart Holding GmbH.
Within Europe, Boerse Stuttgart established itself some years ago as the market leader in exchange-based trading of structured securities. Last year, with a view to expanding this position, it took over the Swedish stock exchange Nordic Growth Market NGM AB. Currently, Boerse Stuttgart already derives some twenty percent of its order flow in European countries outside Germany making it the tenth biggest FESE member by total trading in all securities classes, ahead of stock exchanges such as Athens, Warsaw and Vienna.
FESE represents 42 stock exchanges from all EU Member States as well as Iceland, Norway and Switzerland. Through its members' activities on a global scale, FESE enjoys links with the regulatory community and industry from around the world. FESE's overarching objectives are to foster the global competitiveness of European exchanges, promote public recognition of the exchanges and their contribution to the European and global economy, and to provide a forum for an open and forward-looking debate on capital markets.