FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT <strong>JUNE</strong> <strong>2013</strong> 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 <strong>2013</strong>. CONTACT INFORMATION Contact Name Ahmed Aftab E-mail aftab@safe-asia.com Website www.safe-asia.com PAGE 98
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT <strong>JUNE</strong> <strong>2013</strong> STATISTICS For further information please check www.feas.org / stats query part PAGE 99
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