World Exchange Congress kicks off today

World Exchange Congress kicks off today
The World Exchange Congress 2007 kicked off in Dubai today,
with over 150 attendees and nearly 50 speakers from the world's
biggest stock exchanges, industry influencers and analysts.


This event brings together these players at a time when the global stock markets are recovering from a sharp slump that analysts still feel could have further aftershocks, while others feel it is merely a correction and investors will regain confidence in the markets. The World Exchange Congress, organised by Terrapinn, continues till March 28th at the Jumeirah Beach Hotel in Dubai, focusing strategies and innovations for the world's stock, commodities and derivatives exchanges. Recent news reports have revealed that most global markets are 'bouncing back'. But the topic is sparking extensive dialogue between speakers and delegates at the World Exchange Congress. Per E. Larsson, Chief Executive of the Dubai International Financial Exchange (DIFX), opened the conference programme this morning highlighting the DIFX's pivotal role in serving the global financial services community.

'As the international stock exchange operating between
Western Europe and East Asia, the DIFX is looking
forward to the opportunities and challenges that lie
ahead as the region's capital markets mature and
develop. This exchange industry conference is taking
place at an exciting time, with leading exchange executives, investment bankers, fund managers and analysts gathering to discuss best practices, lessons learnt, ideas for partnerships and strategies for the future.'Still considered in an emerging market, Middle East stock exchanges are also discussing regulation and governance and how this is impacting the industry here. Issues surrounding regulation and governance ran through the entire conference programme. As regional exchanges grow and seek to expand their businesses, it is possible to steer towards unregulated activities or expand present services beyond what the regulation clearly permits. According to a November 2006 report by the Technical Committee of the International Organisation of Securities Commissions (IOSCO), Regulatory Issues Arising from Exchange Evolution, this does in some cases blur the line between exchange and OTC activity. 'A solid regulatory framework is necessary for the success and growth of the exchange industry,' said Sean Willis, Managing Director for World Exchange Congress, Terrapinn. 'Today senior speakers from organisations such as the Tokyo Stock Exchange and the European Commission discussed the global and regional implications to the industry in light of disruptive regulations, and the need for international cooperation to handle complex international dealings. Citing the previously mentioned IOSCO Technical Committee report, advanced technology gives exchanges scope to build cross-border business. This raises a considerable challenge for regulators to maintain a solid framework while fostering market development.' Tomorrow's programme at the World Exchange Congress will kick off with the opening remarks of Norma Cohen, reporter for the Financial Times, while the remainder of the sessions will discuss reinvention of exchange business models, brand management for exchanges, clearing and settlement and more. World Exchange Congress 2007 is organised by Terrapinn, organisers of the Hedge Funds World series of events. The conference is sponsored by Millenium Information Technologies and OMX Group, Dubai International Financial Exchange Ltd (DIFX) and AEMS.