WORLD FEDERATION OF EXCHANGES PLEDGES COOPERATION WITH U.S. REGULATOR

Posted May 27, 2009

WASHINGTON, D.C. – The board of the World Federation of Exchanges (WFE) pledged to promote international regulatory cooperation in a meeting with Mary Schapiro, Chairman of the US Securities and Exchange Commission.

The federation represents more than 50 regulated stock, futures and options exchanges worldwide. Its current priorities include setting best practices for short selling and securities lending as well as clarification and international coordination of market “circuit breakers,” according to William J. Brodsky, Chairman of the WFE and Chairman and CEO of the Chicago Board Options Exchange.

“The WFE is uniquely positioned to share the collective knowledge of its member exchanges with international governing bodies and regulators,” says Brodsky. “Thus, we were delighted to have the opportunity to promote international regulatory cooperation and share views with Chairman Schapiro in Washington.”

Brodsky briefed Shapiro on WFE views on the short selling issue, as well as unregulated markets, which will be on the agenda for the upcoming International Organization of Securities Commission (IOSCO) annual meeting in Tel Aviv from June 8 to 11.

For more information on the IOSCO positions on short selling, see the May 25, 2009 issue of Global Investment Technology.