JUNE 2013 - FEAS

FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2013
THE SOUTH ASIAN FEDERATION OF EXCHANGES (SAFE)
Ahmed Aftab
Secretary General
SAFE is a cooperative platform launched
by the bourses in South Asia with a
purpose to promote the development and
harmonization of the securities markets
in the region.
INTRODUCTION
South Asian Federation of Exchanges (SAFE)
is a cooperative platform launched by the
bourses in South Asia with a purpose to
promote the development and harmonization
of the securities markets in the region. SAFE is
a not for profit association having Recognized
Body status of the South Asian Association
for Regional Cooperation (SAARC), and is a
network exchange association of the World
Federation of Exchanges (WFE).
SAFE stands to prepare and position its
member markets for their orderly integration
into the global financial system by enhancing
the depth, inter-connectivity, integrity and
transparency of its member markets. Since
its inception, SAFE has worked to become a
focused platform for the representatives of the
exchange industry and other capital market
related institutions of the Region. Additionally,
the Federation has also provided a channel
through which the individual stock exchanges
continue to find opportunities for bilateral
cooperation.
SAFE was set up in year 2000 under the
initiative of Chittagong Stock Exchange,
Bangladesh but now operates from its
permanent Secretariat at Islamabad, Pakistan.
The activities and operations of the Federation
are being spearheaded by Mr. Aftab Ahmad Ch,
who has been serving as the regular Secretary
General of the Federation since 2005 under
the appointment by the SAFE’s Executive
Committee.
As of February 2012, SAFE comprises of thirty
four (34) member entities from the SAARC
Region (Afghanistan, Bangladesh, Bhutan,
India, Maldives, Nepal, Pakistan and Sri Lanka)
as well as from Kazakhstan, Mauritius and
UAE; fifteen (15) regional stock & commodity
exchanges as Primary Members; six (6)
Associate Members comprising of non-regional
exchanges, and regional depository & clearing
institutions, nine (9) Affiliate Members and four
(4) Affiliate Associations.
SERVICES OFFERED BY SAFE
• The Federation acts as an industry platform
to advocate, suggest and prepare regulatory
changes needed for the harmonization of
market practices and policies.
• SAFE stands to promote the investment
potential of the region by attracting foreign
institutional and portfolio investments into
our regional markets. Towards this end, the
Federation regularly conducts seminars,
events, conferences and roundtables to
highlight the investment potential of our
individual as well as the regional markets.
• The Federation engages in the capacity
building programs to develop the skills
and expertise of the human capital for the
effective management of our markets.
This is done through various activities and
initiatives both independently as well as in
association with other domestic, regional
and international entities.
• SAFE works for the adoption of the best
consumer/investor protection standards
in the region and towards this end, the
Federation undertakes regular efforts for the
spread of financial knowledge/awareness in
the region.
• SAFE also provides advisory & consulting
services regarding financial and capital
market issues, matters and projects both
within and outside the region. This is done
through channelizing the involvement and
participation of the regional consultants.
SAFE’S PROJECT ON REGIONAL
FINANCIAL INTEGRATION: DEVELOPING A
HARMONIZED REGULATORY FRAMEWORK
FOR THE CAPITAL MARKETS IN PAKISTAN
& SOUTH ASIA-2012/13
Increased cross border financial activities,
trade and economic exchanges are known
to create strong intraregional links and an
integrated economic region. While in South
Asia, efforts have been made to promote
intraregional trade, however the intraregional
financial integration appears to lag behind due
to asymmetric developments in the economic
and financial sectors. It was in this context that
SAFE had applied for USAID’s Small Grants and
Ambassador’s Fund Program (SGAFP) in 2011,
to develop standardized market regulations
so as to create the necessary environment for
an enhanced regional financial integration and
achieve convergence across different markets
of the Region.
The objectives of the project are: to develop
harmonized market regulations for the capital
markets; to standardize self regulatory
framework for the management and the
operations of the markets in the region;
to enhance market integrity and investor
confidence; to introduce consistent & common
reporting standards; to improve the governance
and transparency norms for the listed sector; to
facilitate easy capital raising on regional basis
and the promotion of cross border listings; to
deepen and broaden the region’s securities
markets; to assist in, relatively, free movement
of capital and portfolio investments; and to
promote the greater integration of the South
Asian capital and financial markets.
The project is envisaged to be completed in a
period of 18 months, beginning from April, 2012
till Sep 2013.
CONTACT INFORMATION
Contact Name Ahmed Aftab E-mail aftab@safe-asia.com Website www.safe-asia.com
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