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The General Assembly of all Full and Associate Members met under the chairmanship of outgoing FESE President Massimo Capuano,President and CEO of Borsa Italiana.The Assembly voted unanimously to elect Jukka Ruuska, President of OMX Nordic Exchange as the new FESE President for the statutory term of two years.At the same time, Spyros Capralos Chairman of Athens Exchange was elected Vice President.Both will assume their office as of 29 th November 2006.
Massimo Capuano,outgoing FESE President,concluded: “In the last three years,as FESE President I have been working together with all FESE members to strengthen the representative voice of Europe ’s Regulated Markets in Brussels and throughout Europe. Furthermore,the Code of Conduct on Clearing and Settlement,recently signed and submitted to Commissioner McCreevy,is a further joint important achievement.It is with great confidence that I hand over the Presidency of FESE to Jukka Ruuska ”
Jukka Ruuska,incoming FESE President,said: “I am delighted to take over as President at a time that is crucial for Europe ’s securities exchanges. The creation of an integrated and efficient European financial market is progressing rapidly.The Markets in Financial Instruments Directive (MiFID)which demands more transparency and will enhance the competition in securities trading,will come into effect in November 2007.On top of that we recently signed the European Code of Conduct for clearing and settlement which will be implemented over the next two years,and will open competition in clearing and settlement as well.
The securities exchanges of Europe certainly face interesting times.It is my ambition as president of FESE to continue the excellent work of Massimo Capuano in fostering the global competitiveness of European exchanges as well as promoting their public recognition and contribution to the European economy. FESE will also continue to work closely with the European Commission and European Parliament as well as other key associations linked to our industry ”
Spyros Capralos,incoming FESE Vice President,added: "I'm proud to be elected Vice President of FESE at the time when the European securities markets are integrating at an accelerating pace with new countries and young marketplaces joining the European Union. I look forward to continuing the important work that FESE has done in promoting a harmonized environment and demolishing barriers to integration."
FESE Board
The General Assembly agreed on the nominations for the FESE Board which includes:
FESE President,Jukka Ruuska,President of OMX Nordic Exchange,OMXFESE Vice-President,Spyros Capralos,Chairman of the Athens Exchange,Athens Exchange
FESE Chairman of the Working Committee,Ramon Adarraga,Director International Affairs,BME
FESE Chairman of the Budget and Audit Committee,Tom Healy,Chief Executive,Irish Stock Exchange
Massimo Capuano,President and CEO,Borsa Italiana
Adam Kinsley,Director of Regulation,London Stock Exchange
Olivier Lefebvre,Executive Vice President and Member of the Managing Board of Euronext ,Euronext
Stefan Mai,Head of Market Policy,Deutsche Börse AG
Diarmuid O ’Hegarty,Executive Director:Regulation and Compliance,London Metal Exchange
Marko Simoneti,President and CEO,Ljubljana Stock Exchange
