The 46th General Assembly of the World Federation of Exchanges (WFE) has elected Massimo Capuano, President and CEO, Borsa Italiana, as incoming WFE Chairman for 2007- 2008, during its meeting in Sao Paulo. Mr. Capuano will assume his new position beginning in January 2007, taking over from Mr Taizo Nishimuro, President and CEO of Tokyo Stock Exchange, now completing his two-year term.
The WFE General Assembly also elected William J. Brodsky, Chairman and CEO of the Chicago Board Options Exchange (CBOE), as incoming Vice Chairman. He is the first leader of a derivatives exchange to hold this position.
Paul Chow, Chief Executive of Hong Kong Exchanges and Clearing, was appointed Chairman of the WFE Working Committee, the business policy body of the Federation.
Chairman Nishimuro congratulated the new Board officers and Board members, and remarked, "The Federation's business agenda for the next two years will have to be substantially different than it has been under my Chairmanship, due to the rapidly changing business environment."
The WFE Board of Directors also elected the following members to join Messrs. Capuano, Brodsky and Chow:
Young-Tak Lee, Chairman and CEO, Korea Exchange
Geng Liang , Chairman, Shanghai Stock Exchange
Magnus Bocker, President and CEO, OMX
Antonio Zoido, Chairman, BME - Spanish Exchanges
John Thain, CEO, NYSE Group
Gilberto Mifano, CEO, BOVESPA
They join current directors:
Richard Neisbitt, CEO, TSX Group
Guillermo Prieto Trevino, Chariman and CEO, Bolsa Mexicana de Valores
Jean-François Theodore, Chairman and CEO, Euronext
Russell Loubser, CEO, Johannesburg Stock Exchange
Ravi Narain, Managing Director and CEO, National Stock Exchange India
Taizo Nishimuro, President and CEO, Tokyo Stock Exchange
Massimo Capuano said, "I am honoured to serve this organization which has expanded its membership reflecting the dynamic changes in the exchange industry. The WFE provides a productive business forum to discuss common issues facing our rapidly changing markets. I look forward to working with Bill Brodsky and the other members of the Board as I assume my new position."
The General Assembly also welcomed two new members to the WFE: the International Securities Exchange (ISE) and NASDAQ Stock Market.
