FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2012
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
As of December 2011, the number of
traded companies in FEAS member
markets reached a regional total of 9,649,
and market capitalization reached US$
621,745.2 million showing an increase of
US$ 61,794.2 million or 11.0% over 2008.
Mustafa Baltaci
Secretary General of FEAS
2011 Market Activity in the Region:
The FEAS Region contains 34 member
exchanges and 15 affiliate members
(represented by clearing and settlement
institutions, dealer’s associations and regional
federations) in 28 countries.
As of December 2011, the number of traded
companies in FEAS member markets reached a
regional total of 9,649, and market capitalization
reached US$ 621,745.2 million showing an
increase of US$ 61,794.2 million or 11.0% over
2008. The FEAS region over the last 5 years
has for the most part grown consistently with a
break in that pattern in 2008 due to the global
crisis. We can see that the effects of the crises
were more strongly felt in 2008 as compared
to 2009 thru 2011 although equities have not
shown a full recovery we do see improvement in
the fixed income market. In 2011 Total Volume
in Equity Trading shares increased by 27.1%.
*The 5-year statistical comparison shows that
markets are providing stronger listings with
greater transparency, and that market forces
continue to push toward issuer quality versus
material privatization quantity. The average
daily trading volumes in the stock segment
continued to grow over the last 5 years with a
29.5% increase in 2011 in terms of number of
shares traded. The Bonds segment displayed
by year-end 2011 results were quite strong in
absolute volume terms among the three trading
segments (Stocks, Bonds, Other) showing a
190.4% increase in the Average Daily volume
(# Millions) and a 185.5% increase in average
daily trading volume in numerical terms as
compared to 2010. Turnover in the Other
segment is still quite weak when compared to
the results of the same period last year. The
regional figures show a shift in trading from
Stocks to Bonds and Other, the “Other” trading
segment continues to be ranked first as the
most popular trading segment within the region.
Other volume is made up by such instruments
as t-bills, currency, repo/reverse repo and
derivatives
In addition, the development in the FEAS
markets can be seen through results in the
adjusted annualized return on member indices.
*For individual member statistics, please go to the Member
Profile sections in the following pages.
2012 CALENDAR OF MEETINGS
Banja Luka SE 7th Annual Conference
Date: May 2012
Host: Banja Luka SE
Place: tbd
4th International Orientational Course on
Islamic Capital Markets
Date: May 6 - 9 2012
Host: Tehran SE
Place: Tehran, Iran
International Finance Industry and
Investment Fair
Date: May 19-22, 2012
Host: Tehran SE
Place: Tehran, Iran FEAS Working Committee, 24th Executive
Committee and 18th General Assembly
Host: Bulgaria Stock Exchange
Date: September 20-21, 2012
Place: Sofia, Bulgaria
FEAS Working Committee Meeting & Euro
Asia Summit Date: May 25, 2012
Host: IMKB
Place: Istanbul, Turkey Zagreb 22nd Annual Conference
Date: October 20-22
Host: Zagreb SE
Place: Rovinj, Croatia
11th International Conference of BELEX
Host: Belgrade SE
Date: November 15, 2012
Place: Belgrade, Serbia
FEAS REGION
2011-MARKET CAPITALIZATION
VS STOCK VOLUME
(US$ million)
900,000
800,000
700,000
600,000
500,000
400,000
300,000
200,000
100,000
0
60,000
50,000
40,000
30,000
20,000
10,000
0
J
F M A M J
Market Cap
PAGE 6
FEAS REGION
2011-MONTHLY VOLUME
(US$ million)
J
A S O N D
Monthly Stock Volume
FEAS REGION
5-YEAR VOLUME COMPARISON
(US$ million)
400,000
3,000,000
2,500,000
300,000
2,000,000
200,000
1,500,000
1,000,000
100,000
500,000
0
J
F
M
Stocks
A
M
J
J
A
Bonds
S
O
N
D
Other
0
2007
Stocks
2008
2009
Bonds
2010
2011 YE
Other