The 46th General Assembly of the World Federation of Exchanges (WFE) has elected Massimo Capuano, the President and CEO at Borsa Italiana, as incoming WFE Chairman for 2007- 2008.
Capuano will assume his new position beginning in January 2007, taking over from Taizo Nishimuro, the President and CEO of the Tokyo Stock Exchange, now completing his two-year term.
The WFE General Assembly also elected William J. Brodsky, the Chairman and CEO of the Chicago Board Options Exchange (CBOE), as incoming Vice Chairman. He is the first leader of a derivatives exchange to hold this position.
Paul Chow, the Chief Executive of Hong Kong Exchanges and Clearing, was appointed Chairman of the WFE Working Committee, the business policy body of the Federation.
“The Federation’s business agenda for the next two years will have to be substantially different than it has been under my Chairmanship, due to the rapidly changing business environment,” says Nishimuro.
“I am honoured to serve this organisation which has expanded its membership reflecting the dynamic changes in the exchange industry,” says Capuano. “The WFE provides a productive business forum to discuss common issues facing our rapidly changing markets. I look forward to working with Bill Brodsky and the other members of the Board as I assume my new position.”