i am just back from covering the World Federation of Exchanges IOMA/IOCA Annual Conference in Frankfurt. I was there for Global Custodian Magazine, and this was the first year that the press were allowed to attend.
For those of you who don't know, the WFE is an association of 51 regulated exchanges from around the world. IOMA is the International Options Market Association and is a sub-group of WFE that focuses on the derivative markets within the membership. It was a fascinating event with some very senior people at the conference. You will be able to read about the event more when I put the articles together for GC Magazine.
Why did I go? The session that captured my interest last week was a session on "Reworking the Principles behind Short-selling". Now you know why I wanted to go, and in addition there was a session on Lehman. I have mentioned the WFE before, because one of their top three priorities for 2009 is:
"... to help the International Organization of Securities Commissions (IOSCO) set best practices for short selling and securities lending."
The good news is that these words are more than just a trite statement. I was fortunate to have the opportunity to interview Mr William Brodsky, WFE Chairman and Mr Thomas Krantz, Secretary General of WFE. I can tell you one thing for certain, these people recognise the fundamental importance of short selling in the marketplace and are doing everything they can to help regulators create sustainable, sensbile rules regarding short selling and securities lending.
Watch this space and GC Mag for more in the future on WFE.
London Marathon Update
It's only a few days until the London Marathon takes place, and it looks like they will have some greeat weather (maybe even too hot!). On the right sidebar you can go directly to the sponsorship sites for Bill Foley of JP Morgan and Charlotte Wall from DataExplorers. "Step up" and support these people and others running the marathon. Good luck Bill, Charlotte and the others that have contacted me privately and don't want to have their names listed!
