28 June - 4 July 2001

MSE becomes associate member of Federation of European Securities Exchanges (FESE)

The Malta Stock Exchange has been admitted by the Federation of European Securities Exchanges (FESE) as an Associate Member during the General Assembly of the Federation held in Paris, France. The General Assembly approved the application by the Malta Stock Exchange for Associate Membership after the exchange had become a corresponding member last year.
The MSE was represented by Joseph V. Laspina, deputy chairman and Paul J. Spiteri, chief executive, during the General Assembly. In a short address, following the approval of the MSE’s application, Mr Laspina said: “It is an honour and a privilege for the MSE to be welcomed as an Associate Member of the Federation. 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.”
FESE is the Brussels-based association of regulated securities markets in Europe. 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.
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.