The World Federation of Exchanges
The World Federation of Exchanges or WFE are the trade association of 52 publicly regulated stock, futures and options exchanges. Their market operators are responsible for the functioning of key components in the financial world.
World Federation of Exchanges are the home of about 45,800 listed companies (as of December 2009), registering a slight drop for the first time since 2003. The total market capitalization of listed companies was approximately USD 46.5 trillion, a surge of 43% at the end of 2009, as compared to 2008. Approximately USD 80.5 trillion in equities were traded on WFE stock exchanges. More than 11 billion future and option contracts were transparently traded on-exchange, with proper post trade risk management and guarantees.
The member exchanges of The World Federation of Exchanges, share common values in operating markets. They have a mission to promote
- Quality: To promote market standards and reliable statistics.
- Advocacy: To work with policy makers, regulators and government organizations for fair, transparent and efficient markets.
- Networking: To bring together exchange experts to improve markets.
- Development: To help newer, smaller exchanges to meet WFE standards.
The World Federation of Exchange is a central reference point for the securities industry, and exchanges. They offer members, guidance in their business strategies, and in the improvement and harmonization of their management practices.
They maintain a neutral platform for transactions, in contrast to broker networks or crossing systems.
Member exchanges must maintain rules for capital raising for companies, unlike crossing networks or alternative trading venues. They play an active role in the development of the local economy, unlike some offshore centers and over-the-counter markets.
Instead of absolute size of the exchange, the relative importance to the local economy is the basis for membership. They have to adhere to the World Federation of Exchanges Membership Criteria. Candidates are selected following a peer review.
Membership in World Federation of Exchange is considered by some governments and national associations of asset managers as a criteria for preferential investment policy and taxation for these markets.
There are 6 Associates, 14 WFE Affiliates with separate professional relations, and 27 exchanges which are WFE Correspondents.
Full list of WFE members is given below.
- Amman Stock Exchange
- Athens Exchange
- Australian Securities Exchange
- Bermuda Stock Exchange
- BM&FBOVESPA S.A.
- BME Spanish Exchanges
- Bolsa de Comercio de Buenos Aires
- Bolsa de Comercio de Santiago
- Bolsa de Valores de Colombia
- Bolsa de Valores de Lima
- Bolsa Mexicana de Valores
- Bombay Stock Exchange Ltd.
- Borsa Italiana SpA (London Stock Exchange Group)
- Bourse de Luxembourg
- Bourse de Montréal (TMX Group Inc.)
- Budapest Stock Exchange Ltd. (Wiener Börse AG)
- Bursa Malaysia
- Chicago Board Options Exchange
- CME Group
- Colombo Stock Exchange
- Cyprus Stock Exchange
- Deutsche Börse AG
- The Egyptian Exchange
- Hong Kong Exchanges and Clearing
- Indonesia Stock Exchange
- International Securities Exchange
- Irish Stock Exchange
- Istanbul Stock Exchange
- Jasdaq Securities Exchange, Inc. (Osaka Securities Exchange)
- JSE Limited
- Korea Exchange
- Ljubljana Stock Exchange
- London Stock Exchange
- Malta Stock Exchange
- Moscow Interbank Currency Exchange
- NASDAQ OMX
- NASDAQ OMX - Armenia
- NASDAQ OMX - Copenhagen
- NASDAQ OMX - Helsinki
- NASDAQ OMX - Iceland
- NASDAQ OMX - Riga
- NASDAQ OMX - Stockholm
- NASDAQ OMX - Tallinn
- NASDAQ OMX - Vilnius
- National Stock Exchange of India Limited
- New Zealand Exchange Ltd.
- NYSE Euronext - Amsterdam
- NYSE Euronext - Brussels
- NYSE Euronext - Lisbon
- NYSE Euronext - New York
- NYSE Euronext - Paris
- Osaka Securities Exchange
- Oslo Børs
- Philippine Stock Exchange
- Saudi Stock Exchange (Tadawul)
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
- Singapore Exchange
- SIX Swiss Exchange
- Stock Exchange of Mauritius
- tock Exchange of Tehran
- Stock Exchange of Thailand
- Taiwan Stock Exchange
- Tel-Aviv Stock Exchange
- TMX Group Inc.
- Tokyo Stock Exchange Group, Inc.
- Warsaw Stock Exchange
- Wiener Börse AG
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