The Board of Directors of the World Federation of Exchanges(WFE) has pledged to promote international regulatory cooperation in a meeting with the head of the SEC.
The WFE, based in Paris, France, is an association of more than 50 regulated stock, futures and options exchanges worldwide.
William J. Brodsky, chairman of the WFE and chairman and CEO of the Chicago Board Options Exchange (CBOE), and other board members briefed SEC Chairman Mary Schapiro on current WFE priorities, which include setting best practices for short selling and securities lending as well as clarification and international coordination of market "circuit breakers."
"The WFE is uniquely positioned to share the collective knowledge of its member exchanges with international governing bodies and regulators," Brodsky said in a release.
"Thus, we were delighted to have the opportunity to promote international regulatory cooperation and share views with Chairman Schapiro in Washington."
Brodsky shared the board's views on the short selling issue, as well as its views on unregulated markets. These issues will also be discussed at the International Organization of Securities Commissions (IOSCO) annual meeting in Tel Aviv, Israel, June 8-11, where the WFE is a participant.Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio