Amman Stock Exchange (ASE) represented by Mr. Marwan Bataineh the Chairman of ASE' Board of Directors and Mr. Nader Azar, the CEO of the ASE participated at the fifty-sixth annual meeting of the World Federation of Exchanges (WFE) which was held in Cartagena / Colombia during the period from November2-4, 2016, executives and representatives of member stock exchanges of the World Federation of Exchanges from all over the world attended the meeting, to discuss the key issues of interest to the securities industry.
During the meeting, they elected Ms. Chitra Ramkrishna, Managing Director & CEO, National Stock Exchange of India Limited as a Chairperson, of the WFE, and Dr. Urs Rüegsegger, Group CEO, SIX as a Vice Chairman and Mr. William Brodsky, Executive Chairman of the Board, Chicago Board Options Exchange (CBOE) as a Working Group Committee Chairman. The Federation also approved the Palestine Stock Exchange (PSE) since 2015 regarding granting full membership to be the member number 65 in the Federation, during the meeting they also agreed to hold the General Assembly and Annual Assembly for the year 2017 in Bangkok / Thailand.
On the sidelines of the meeting the CEO of the ASE Mr. Nader Azar, and the Executive Officer of Luxembourg Stock Exchange Mr. Robert Scharfe signed a Memorandum of Understanding (MOU) in the presence of the Chairman of the ASE Board of Directors, Mr. Maewan Bataineh Mr. Juan Pablo Cordoba Graces the Executive officer of Colombia Stock Exchange, the Chairman of the WFE Mr. Andreas Preuss, Deputy CEO of Germany Stock Exchange and chairman of the finance committee in the federation, and Ms. Sukumar Nandini the CEO of the Federation.
The aim of Signing the MOU is to enhance the safety of the securities markets in the two countries through providing a framework for mutual cooperation, exchange of experience, and information, within the extent permitted by the laws, regulations and instructions applicable to both parties. Under this MOU any of the two exchanges can train the other part staff in the topics related to the financial markets as well as provide technical support when needed. Moreover, the MOU will lay the foundations for mutual cooperation and develop a general framework to facilitate the exchange of information between the two exchanges.
It is worth mentioning that the WFE is considered the largest gathering for the stock exchanges in the world, based in London, and its membership includes 65 stocks exchanges from around the world, and about 45,000 listed companies, with$ 63 trillion market capitalization, and the Federation also considered an important reference in the securities industry in terms of international principles , that governed clearing and settlement process, brokers, disclosure and protection of investors and the other .
