Jukka Ruuska, OMX, elected President of FESE

Jukka Ruuska, President of OMX Nordic Exchange, has been appointed President of
the Federation of European Securities Exchanges, FESE.

Jukka Ruuska, who has been active with FESE since 2004, will assume his new position as of today. The mandate is for two years.

“I am delighted to take over as President of FESE at a time that is crucial for Europe’s securities exchanges. The creation of an integrated and efficient European financial market is progressing rapidly. The Market in Financial Instrument Directive (MiFID), which demands more transparency and will enhance the competition in securities trading, will come into effect in November 2007. On top of that, we recently signed the European Code of Conduct for clearing and settlement, which will be implemented over the next two years, and will open up competition in clearing and settlement as well.

The securities exchanges of Europe certainly face interesting times. It is my ambition as President of FESE to continue the excellent work of Massimo Capuano in fostering the global competitiveness of exchanges as well as promoting their public recognition and contribution to the European economy. Securities exchanges are of great importance to the European capital markets and the development of our economy. FESE will continue to work closely with European Commission and European Parliament as well as other key associations linked to our industry”, said Jukka Ruuska.

The Federation of European Securities Exchanges (FESE) represents operators of the European regulated markets and other market segments, comprising the markets for securities, financial derivatives and energy and commodity derivatives. With 24 members, FESE represents close to 40 securities exchanges from all of the countries of the EU, Iceland, Norway, and Switzerland. Through its members’ activities on a global scale, FESE enjoys links with the worldwide regulatory community and industry.