THE WORLD FEDERATION OF EXCHANGES
THE WORLD FEDERATION OF EXCHANGES

* Maintains a platform worldwide where exchange industry professionals discuss issues of common interest, identify new solutions which enhance the efficiency of regulated markets, and develop programs which protect their integrity.
* Establishes harmonized standards for business processes in the exchange industry, particularly in the realm of cross-border initiatives.
* Enhances the co-operative relationship with supervisory authorities, in order to advocate the benefits of exchange front-line self-regulation within the total regulatory framework and the process of international mutual recognition.
* Highlights the vital work regulated exchanges accomplish in the worldwide financial system and the fundamental form of finance they assure for global economic growth.
* Provides support to newer and smaller exchanges in their efforts to develop markets which function according to Federation member standards, thus contributing to global respect for the business practices of a well-run industry.

The World Federation of Exchanges, formerly FIBV - International Federation of Stock Exchanges, is the trade organization for regulated securities and derivative markets, settlement institutions and related clearing houses, and their diverse services to capital markets.

The Federation is a private international organization comprised of the operators of the worldÌs leading markets, which are committed to the highest levels of market quality. It provides a forum for communication, analysis and debate among members. Its purpose is to facilitate the representation, development of organized and regulated markets, and to meet the needs of evolving capital markets in the best interest of their users.

Membership of the World Federation of Exchanges is a criterion for many national regulators and asset management institutions to allow privileged access for investment. Membership of the World Federation of Exchanges identifies an exchange as having assumed the commitment to prescribed business standards, recognized as such by members, owners, and users of exchanges, as well as by regulators and supervisory bodies.

Sharing of business experience and knowledge among members is critical to the development of the industry, even as financial market operators offer services in an increasingly competitive environment.

The World Federation of Exchanges is a central reference point for the securities industry, and for exchanges themselves. It offers member guidance in their business strategies, and in the improvement and harmonization of their management practices. The Federation also works with public authorities, and helps promote informed use of markets.

AMERICAN STOCK EXCHANGE
AMMAN STOCK EXCHANGE
ATHENS EXCHANGE
AUSTRALIAN SECURITIES EXCHANGE
BERMUDA STOCK EXCHANGE
BM&F BOVESPA 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
BOURSE DE LUXEMBOURG
BOURSE DE MONTRÖAL
BUDAPEST STOCK EXCHANGE LTD.
BURSA MALAYSIA
CHICAGO BOARD OPTIONS EXCHANGE
COLOMBO STOCK EXCHANGE
CYPRUS STOCK EXCHANGE
DEUTSCHE B˜RSE AG
THE EGYPTIAN EXCHANGE
HONG KONG EXCHANGES AND CLEARING
INDONESIA STOCK EXCHANGE
INTERNATIONAL SECURITIES EXCHANGE - ISE
IRISH STOCK EXCHANGE
ISTANBUL STOCK EXCHANGE

JASDAQ SECURITIES EXCHANGE, INC.
JSE LIMITED
KOREA EXCHANGE
LJUBLJANA STOCK EXCHANGE
LONDON STOCK EXCHANGE
MALTA STOCK EXCHANGE
NASDAQ OMX
NASDAQ OMX
NATIONAL STOCK EXCHANGE OF INDIA LIMITED
NEW ZEALAND EXCHANGE LTD.
NYSE EURONEXT
NYSE EURONEXT
OSAKA SECURITIES EXCHANGE
OSLO B?RS
PHILIPPINE STOCK EXCHANGE
SHANGHAI STOCK EXCHANGE
SHENZHEN STOCK EXCHANGE
SINGAPORE EXCHANGE
STOCK EXCHANGE OF MAURITIUS
STOCK EXCHANGE OF TEHRAN
STOCK EXCHANGE OF THAILAND
SWX SWISS EXCHANGE
TAIWAN STOCK EXCHANGE (TWSE)
TEL-AVIV STOCK EXCHANGE
TMX GROUP INC.
TOKYO STOCK EXCHANGE GROUP, INC.
WARSAW STOCK EXCHANGE
WIENER B˜RSE AG
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