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THE EF F ECTS OF THE PROJECT SEM-ON.NET AND PRESUMPTIONS FOR THE FUNCTIONAL INTEGRATION

THE EF F ECTS OF THE PROJECT SEM-ON.NET AND PRESUMPTIONS FOR THE FUNCTIONAL INTEGRATION. Andrej Šketa Executive Vice President & COO Ljubljana Stock Exchange. November 2007. Regional perspective. High growth economies Capital markets reforms Pension reforms

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THE EF F ECTS OF THE PROJECT SEM-ON.NET AND PRESUMPTIONS FOR THE FUNCTIONAL INTEGRATION

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  1. THE EFFECTS OF THEPROJECT SEM-ON.NET AND PRESUMPTIONS FOR THE FUNCTIONAL INTEGRATION Andrej Šketa Executive Vice President & COO Ljubljana Stock Exchange November 2007

  2. Regional perspective • High growth economies • Capital markets reforms • Pension reforms • Capital markets as source of founds for development • Fragmented markets • Low international visibility • Ineffective infrastructure

  3. Vertical Marketing Information control Listing Structured products Equities Bonds Block trading Derivatives Other instruments Trading Clearing and settlement Registry Horizontal Global market National market Regional market Instruments INDUSTRY STRUCTURE

  4. SEM-ON.NET • Project 2002 - 2006: • Joint presentation of the markets • Access to the on-line data • Rising of the standards • Target groups: • investment firms • stock exchanges • Results: • development of national markets • awareness of the region

  5. OPPORTUNITIES IN THE REGION • Short term (2008-09): • International marketing of the region: • Defining the region • Regional Blue chips • International Road shows • New - regional indices • Medium term (2009-11): • Structured products for cross-exposing the markets • Cross membership • Clearing and settlement, CCP • Derivatives • Long term (2011-): • Full MiFID environment

  6. MARKET 2 MARKET 1 International Marketing Marketing Marketing Information Control Information Control Statistics – Regional Derivatives Trading Trading New Regional Products Listing Listing Clearing and settlement Clearing and settlement Registry Registry

  7. Key success factors • Forward looking • Business approach • Focusing on regional attributes • Support by regulators • Part of EU accession process • Institualisation of cooperation • Model of ‘Star alliance’ • Separate and focused entity • Sharing regional concepts and infrastructure • Being focused locally

  8. THANK YOU FOR YOUR ATTENTION. http://www.ljse.si Andrej Šketa Executive Vice President & COO Ljubljana Stock Exchange

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