Fese.be
Title
Federation of European Securities Exchanges (FESE) Home Page
Description
European securities exchanges play a vital role in these markets by providing companies with the opportunity to raise capital and by giving both private and institutional investors the opportunity to invest. The increasing globalisation of economic activity, driven by advances in technology and telecommunications, is leading to a growing number of companies wishing to raise capital in more than one country. Investors too are looking at integrated, or interconnected, international markets in order to maximise their return and spread their capital risk.
Long term developments such as the introduction of the euro, the spread of privatisation, the growing number of pan-European mergers and acquisitions, and the rise of the retail investor, have encouraged closer co-operation and, in some cases, the integration of Europe's formerly diverse and separate equity markets. At the same time, over the past decade, every European securities exchange has undergone a major transformation. Most have been deregulated; exchange membership has been opened up to foreign-owned intermediaries and trading is executed electronically, often from overseas.
European securities exchanges have risen to these challenges in a number of ways such as increasing the number of hours during which trading can take place to increase access, introducing market-making and block-trading to increase liquidity, refining order handling and execution systems to increase efficiency and to reduce settlement times, improving information systems to increase transparency and access, and developing new and imaginative investment instruments to enhance investment options.
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