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The Shanghai Stock Exchange (SSE) announced here on Wednesday that it has become a member of the World Federation of Exchanges (WFE), an international organization that aims to help its members share expertise and work out internationally accepted standards for the securities industry.
The SSE's accession to the WFE was approved during WFE's 42nd annual meeting which took place on Monday and Tuesday in Amsterdam, sources with the Shanghai Stock Exchange confirmed.
Prior to the annual meeting, a WFE delegation traveled to Shanghai to make an assessment of the bourse and the local securities market.
Contacts between the SSE and WFE were initiated in 1993, and a number of WFE officials have since visited Shanghai and encouraged the Shanghai bourse to apply for full membership.
Founded in 1961 and formerly known as the International Federation of Stock Exchanges, the WFE has 58 members around the world which account for over 97 percent of the world's stock market capital.
(Xinhua News Agency October 10, 2002)
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