The Exchange is
a member of the most prominent standard-setting international organisations in
the field of capital markets and central securities depository operations and
actively participates in the regular meetings of held by these organisations.
Federation of European Securities Exchanges (FESE)
FESE membership spans exchanges from all EU and EEA countries. The Federation's principal objective is to inform the decision-making process at European level and to influence European policies and legislative proposals, thus contributing to the aims enshrined in the EU Treaties in the field of securities and financial markets. FESE also promotes the enhancement of securities markets in Europe by fostering co-operation in the areas of primary markets, trading, clearing and settlement and deposit of securities.
The Exchange became a corresponding member of FESE in 1991, shortly after it’s first Council was appointed. Later on, after a comprehensive assessment exercise, the Exchange was awarded the status of Associate Member and in 2004 it obtained full membership following Malta’s accession to the EU. The Exchange is represented on FESE’s Management Committee, the Budget and Audit Committee, Clearing and Settlement Taskforce, MiFID Taskforce and other taskforces that are constituted from time to time.
European Central Securities Depository Association (ECSDA)
ECSDA’s objective is to offer solutions and provide advice at international level on technical, economic, financial, legal and regulatory matters to reduce risk and increase efficiency in custody, pre-settlement and settlement arrangements for securities’ and related payments across Europe for the benefit of issuers, investors and market participants.
During 2006, the Exchange, as operator of a central securities depository, became a full member of ECSDA. Such membership was granted in view of the imminent enactment of the Financial Markets Act which included new provisions in respect of the licensing, regulation and oversight of central securities depositories in Malta and the coming into force of regulations with regard to delivery-versus-payment settlement processes in 2006.
World Federation of Exchanges (WFE)
WFE is the global organization for exchanges and today its membership encompasses almost 60 exchanges from all over the world. WFE has examined virtually every aspect of the securities business be it technical, commercial, legal or economic and offers guidance and advocacy to all its members.
The Exchange also became involved with the WFE at the start of its operations in 1991. Later on the Exchange was awarded the status of full Member. The Exchange is represented on the Working Committee and has formed part of a number of sub-committees of the Board including the Executive Committee, the Emerging Markets Committee and the Regional Committee.
Association of National Numbering Agencies (ANNA)
Malta Stock Exchange plc has been appointed as the National Numbering Agency for Malta by the MFSA as Competent Authority. Malta Stock Exchange plc is, therefore, responsible for issuing International Securities Identification Numbers (ISINs) to Malta registered financial instruments.
In its capacity as National Numbering Agency, Malta Stock Exchange plc is a member of the Association of National Numbering Agencies (ANNA). ANNA is fully committed to pro-actively promote, implement, maintain and make available, standards for securities and related financial instruments, in a uniform and accurate structure for the benefit of their home markets and of the securities industry as a whole. Amongst the objectives of ANNA are to promote the involvement of National Numbering Agencies, to give full ISIN coverage where no National Numbering Agency exists and to make available ISIN and CFI allocation according to ISO standards.
Malta Stock Exchange plc became a Direct Member of TARGET2 on 1 January 2008, when Malta’s national currency became the euro.
TARGET2 is the pan-eurozone payment system whose participants include National Central Banks, other banks and ancillary organizations such as central securities depositories and clearing and settlement systems.