(Vienna) “Wiener Börse contributes substantially to the activation of the markets in Central, Eastern and Southeast Europe. We have entered into many cooperation agreements with regional exchanges in which we provide our expert knowledge for the design, further development and marketing of financial marketplaces,” said Heinrich Schaller, member of the management board of Wiener Börse AG at the 10th CEI (Central European Initiative) Summit Economic Forum on 20th and 21st November 2007 in Sofia. The CEI Forum offers a unique opportunity to deepen friendly relations with existing partners and to meet new contacts,” said Mr. Schaller.
On 20 November, Heinrich Schaller took part in a panel discussion on the subject of "A New Vision of the Capital Markets in Central and Southeast Europe – The European Securities Landscape after MiFID”. “For relatively small, dynamic niche exchanges, it is of enormous importance to share our experience and to bundle our strengths. Even in the case of an investment in another exchange, we give priority to cooperation with an equal, independent management, because we firmly believe in the regional market principle. It is no secret that Wiener Börse is still interested in acquiring 44% of the Bulgarian exchange, BSE, in Sofia,” said Mr. Schaller.
Another advantage of a strategic partnership between the two exchanges is the internationality of Wiener Börse as regards trading participants and data vending customers which will benefit the Bulgarian exchange within a relatively short time by bringing new customers and trading volumes, considering that both exchanges use the same trading system - Xetra®. “A major advantage is, of course, our stable ownership structure – the exchange is owned 50% by Austrian banks and 50% by exchange-listed companies, thus providing good protection against hostile takeovers by larger exchanges and ensuring continued independence,“ explained Mr. Schaller.