Download PREZENTACIJA LJUBLJANSKE BORZE

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THE EFFECTS 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
~ Capital markets as source of founds for
development
– Fragmented markets
– Low international visibility
– Ineffective infrastructure
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INDUSTRY STRUCTURE
Vertical
Marketing
Listing
Other instruments
Derivatives
Structured products
Block trading
Bonds
Equities
Information control
Trading
Clearing and settlement
Registry
Horizontal
Instruments
National
market
Regional
market
Global
market
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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
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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
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MARKET 2
MARKET 1
Marketing
International Marketing
Marketing
Information Control
Statistics – Regional Derivatives
Information Control
Trading
New Regional Products
Trading
Listing
Listing
Clearing and settlement
Clearing and settlement
Registry
Registry
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
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THANK YOU FOR YOUR
ATTENTION.
http://www.ljse.si
Andrej Šketa
Executive Vice President & COO
Ljubljana Stock Exchange
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