China Gold Network reported on November 15 that last week, the 56th World Exchange Union (WFE) Annual Meeting was held in Colombia, and a biennial director re-election was held. The Taiwan Stock Exchange lost its board seat and was replaced by the Thai Exchange.
It is reported that there are five directors in WFE Asia. Before the re-election on November 7 this year, they will be the chairman or group CEO of five exchanges, South Korea, Hong Kong, Taiwan, Shanghai and Japan; Shi Junji, the current chairman of the Taiwan Stock Exchange, took over Li Shude's position in July. Since the term of office as a director of WFE has not yet ended, Shi Junji will replace Li Shude to continue to serve as director of WFE Asia.
According to the WFE director election method, the term of office of a director is two years and can be re-elected, but half of the seats expire in odd years and the other half expires in even years. Although Taiwan has three exchanges including the Stock Exchange, the CFE Center and the Futures Exchange to join the WFE membership, each director election is voted by all members. The Taiwan Stock Exchange lost its WFE director seat in this year's re-election and was replaced by the Thai Exchange.
Industry insiders said that even if the Thai exchange even needs to ask the Taiwan Futures Exchange for advice, and the Thai exchange's trading volume and number of listed companies in Asia are less than that of Taiwan, the Taiwan Stock Exchange emphasized that New York and London have not participated in WFE. As long as they are WFE members, they can still participate in WFE's working committees and interact with stock exchanges in other countries. Whether they are directors or not has a big impact.
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