ISEEE Issues Reform Initiatives For Global Market Recovery

Published: 10-Jun-2009

International Stock Exchange Executives Emeriti (ISEEE) has announced the release of reform initiatives for 11 actions to spur a global market recovery.

Termed as Orlando Declaration, they are the product of extensive discussion among ISEEE members, a group of current and former international stock exchange executives, at their recent annual meeting in Orlando, Florida. Orlando Declaration is a comprehensive compilation of steps necessary to combat the current financial crisis.

The recommended actions cover a broad spectrum of capital market issues, including areas such as - governance issues, regulatory independence, remuneration and incentives for financial executives, responsibilities of regulators and government policy makers, transparency, clarity and accuracy of descriptive language for financial markets, national government oversight of financial risk assessment, deposit protection, and open, explicit government policy.

Donald Calvin, Chairman, ISEEE, and former Chairman of the National Stock Exchange, said: “The depth of industry experience of the market leaders assembled in Orlando, with a total of more than 500 years of experience in capital market issues from countries around the world, brought a varied and meaningful perspective to the current financial situation, resulting in what we believe is a thoughtful blueprint for the future of global financial markets.”

ISEEE is a non-profit corporation registered in the State of New York. It is organized for educational purposes to leverage the expertise of former senior executives from all major exchanges around the world, to better understand and formulate opinions on the leading issues affecting the global exchange community.

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