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FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2010FEDERATION OF EURO-ASIAN STOCK EXCHANGESNewsletter:A monthly publication which includes generalsecretariat news, statistical stock, bond andother volume comparisons on monthly, year-todateand prior period bases, in addition tomarket cap, currency, number of companiestraded and index statistics. Quarterlysupplemental publications include quarterlystatistical analysis, press releases of FEASmembers and headlines of FEAS activities.Archived copies of the newsletter can be foundon our websitehttp://www.feas.org/Publications.cfm?Get=Newsletter&Top=Pubs.FEAS MEETINGS DURING 2009WORKING COMMITTEE MEETING 5-6 MAY2009 – MINSK, BELARUSThe first working committee meeting of 2009was held in Minsk, Belarus on the 5-6th May,2009 at the invitation of the Belarus Currencyand Stock Exchange. The Working Committeefocused on issues mandated by the GeneralAssembly in 2008 and The Secretariat prepareda report for participants to discuss.15TH GENERAL ASSEMBLY MEETING –SEPTEMBER 29, 2009 – BUDVA,MONTENEGROThe 15th Annual General Assembly of FEASwas held in Budva, Montenegro on September29, hosted by the Montenegro Stock Exchange.The Media Task Force Meeting and theResearch Task Force Meetings were held priorto the 19th Executive Committee meeting and aWorking Committee meeting were also heldprior to the General Assembly.Main topics that were discussed and decidedupon at the 15th GA are;1. The 2008 Audited Financial Statementsapproved2. Auditors for 2009 Appointed and Auditor’sFee Approved3. The 2010 Dues Schedule approved4. The 2010 Budget approved5. Charter Amendments approved6. 2008 Activity Report approved7. 2010 Activity Plan approved8. Membership Applications approveda. Association of Certified Capital MarketProfessionals (ACCMP) Jordan (Affiliate)b. Muscat Securities Market BrokersAssociation Oman (Affiliate)c. The Association of Capital Market Institutionsof Turkey (TSPAKB) – Turkey (Affiliate)d. Securities and Exchange Brokers Association(SEBA) – Iran (Affiliate)9. 5 Year Strategic Plan approved10. Revised Mission Statement approved11. 2010 Calendar approved12. Working Committee Mandates approved(see above)PUBLICATIONS & INFORMATIONFEAS Library:The Library can be accessed through thePublications drop down menu on the mainpage at www.feas.org or through this linkhttp://www.feas.org/Library.cfm. The FEASLibrary is open to experts and organizationswith financial market related material. If youwould like to make a submission to the FEASLibrary, please send your electronic files andlinks to the FEAS secretariat atsecretariat@feas.org.FEAS Year Book (FEAS BOOK) & QuarterlyMagazines (INTERFEAS):This publication of annual activities of theFederation and information on its members,began in 1997 and is available electronically onthe website:http://www.feas.org/Publications.cfm?Get=Yearbook&Top=Pubs.FEAS Website:The FEAS website was re-launched in March2010 and can be found at www.feas.org. Thenew site contains a new home page with theFEAS movie, dedicated pages to the FEASIndexes a more concentrated emphasis onFEAS member data with profile pages(including statistics, holidays, market policiesand practices and direct links to their sites),Excel downloads for all statistical data andcross member comparisons on policies,practices and statistical data, and a NewsCenter with headlines from member markets.SUBSCRIBETo subscribe for the electronic version of FEASpublications, please go to www.feas.org andclick on subscribe. Subscriptions includemonthly notifications of statistics and newsletterupdates, as well as advance notice of FEASevents and activities.CONTRIBUTORSPlease visit our Contributor sites. They can beseen on the FEAS website at:http://www.feas.org/Contributors.cfmBloombergwww.bloomberg.netCentral Registry Agencywww.mkk.com.trEmirateswww.emirates.comFinans Asset Managementwww.finansportfoy.comGaranti Asset Managementwww.gpy.com.trIS Investmentwww.isinvestment.comMuscat Securities Marketwww.msm.gov.omNASDAQ OMX Groupwww.nasdaqomx.comTakasbankwww.takasbank.com.trTayburn Kurumsalwww.tayburnkurumsal.comThe Association of Capital MarketIntermediary Institutions of Turkey(TSPAKB)www.tspakb.org.trPAGE 24
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2010FEDERATION OF EURO-ASIAN STOCK EXCHANGESAril SerenSecretary General of FEASAs of December 2009, the number of tradedcompanies in FEAS member marketsreached a regional total of 10,261, andmarket capitalization reached US$ 756,336.7million showing an increase of US$196,385.7 million or 35.1% over 2008.2009 MARKET ACTIVITY IN THE REGIONThe FEAS Region contains 33 memberexchanges and 12 affiliate members(represented by clearing and settlementinstitutions) in 29 countries.As of December 2009, the number of tradedcompanies in FEAS member markets reacheda regional total of 10,261, and marketcapitalization reached US$ 756,336.7 millionshowing an increase of US$ 196,385.7 millionor 35.1% over 2008. The FEAS region over thelast 5 years has grown consistently with a breakin that pattern in 2008 due to the global crisis.We can see that the effects of the crises weremore strongly felt in 2009 as compared to 2008.Despite this fact we can see growth in volumesin share trading and the Other category.*The 5-year statistical comparison shows thatmarkets are providing stronger listings withgreater transparency, and that market forcescontinue to push toward issuer quality versusmaterial privatization quantity. The tradingvolumes in the stock segment continued togrow over the last 5 years with a 42.1%increase in 2009 in terms of number of sharestraded. The Bonds segment displayed by yearend2009 relative weakness in both dollar andabsolute volume terms among the three tradingsegments (Stocks, Bonds, Other) showing a -27.1% decrease in the dollar trading volumeand a -40.9% decrease in volume in numericalterms as compared to 2008. Turnover in theOther segment is also reflecting the currenteconomic woes that are being experiencedaround the world but to a lesser degree with an9.1% decrease from the same period last year.The regional figures show a shift in trading fromStocks to Bonds and Other, the “Other” tradingsegment continues to be ranked first as themost popular trading segment within the region.Other volume is made up by such instrumentsas t-bills, currency, repo/reverse repo andderivatives.In addition, the development in the FEASmarkets can be seen through results in theadjusted annualized return on member indices.* For individual member statistics, please go to the MemberProfile sections in the following pages2010 CALENDAR OF MEETINGSFEAS 3rd Media Relations WorkshopDate: 19-20 January 2010Host: FEASPlace: FEAS TC, IstanbulFEAS Corporate Governance WorkshopDate: 21 January 2010Host: FEASPlace: FEAS TC, IstanbulFEAS UNPRI ConferenceDate: 22 January 2010Host: Istanbul Stock ExchangePlace: Istanbul Stock Exchange11th Annual Conference of the MacedonianStock ExchangeDate: 29 April-1 May 2010Host: Macedonian Stock ExchangePlace: Ohrid, MacedoniaInt’l Conference on Global RegulationsDate: 11 May 2010Host: TSPAKBPlace: Istanbul, TurkeyFEAS Working Committee Meeting, 20thExecutive Committee Meeting and SeminarDate: 19-20 May 2010Host: Amman Stock ExchangePlace: Amman, JordanFEAS Training Data Management StrategyDate: 21 May 2010Host: FEAS/Amman Stock ExchangePlace: Amman, JordanBanja Luka Annual ConferenceDate: May 2010Host: Banja Luka SEPlace: Banja Luka, BosniaSASE 5th Annual ConferenceDate: October 2010Host: Sarajevo SEPlace: Sarajevo, BosniaZagreb 20th Annual ConferenceDate: October 2010Host: Zagreb SEPlace: Novigrad, CroatiaFEAS Working Committee MeetingDate: 7 December 2010Host: Zagreb SEPlace: Istanbul, TurkeyFEAS 21th Executive Committee MeetingDate: 8 December 2010Host: Istanbul Stock ExchangePlace: Istanbul, TurkeyFEAS 16th Annual General AssemblyDate: 8 December 2010Host: Istanbul Stock ExchangePlace: Istanbul, TurkeyInt’l Conference hosted by ISE in conjunctionwith FEAS Exhibit and 15th AnniversaryCelebrationsDate: 9-10 December 2010Place: Istanbul, TurkeyFEAS REGION2009-MARKET CAPITALIZATIONVS STOCK VOLUME(US$ millions)FEAS REGION2009-MONTHLY VOLUME(US$ millions)FEAS REGION5-YEAR VOLUME COMPARISON(US$ millions)800,00070,000200,0002,500,000700,000600,000500,000400,000300,000200,000100,000060,000150,00050,00040,000100,00030,00020,000 50,00010,00000J F M A M J J A S O N D Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2,000,0001,500,0001,000,000500,00002005 2006 2007 20082009 YEMarket Cap.Monthly Stock VolumeStocksBondsOtherStocksBondsOtherPAGE 25
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