Brussels Exchanges Launched On the 17th

On Wednesday, March 17, 1999, Brussels Exchanges became an operational reality. The new company came about as a result of the integration of the Belgian Futures and Options Exchange (Belfox), the Brussels Stock Exchange and the CIK (national depository). The aim of Brussels Exchanges is to create a multi-functional company in the field of financial markets, attuned to its users and their needs by enhancing the range and added value of the products offered, ensuring operational reliability and pursuing continuous tariff reductions. The new entity will operate in three main areas: 1. Organisation and supervision of two types of markets: securities and similar products; derivatives. 2. Back-office services- clearing house (central counterparty); settlement (on/off market transactions); custody, safekeeping, other back-office services. 3. Information dissemination, via two large product families: real time market data - securities databases. Olivier Lefebvre, CEO of Brussels Exchanges states that: "The three companies have joined forces to create an innovative entity with a clear international dimension."