BSE chairman comments on his resignation

Conferences

"The exact reason of my resignation was that my duties had grown to the extent that would have no longer allowed me to work effectively in the upcoming days in such a tense situation especially," Patai said referring to the disputes sparkled by the planned introduction of the Xetra trading system to the BSE by its majority owner, the Vienna Stock Exchange.

"I have no doubt that the most important task of BSE is to integrate the domestic capital market into the global environment and to facilitate the capital allocation for the companies; and the introduction of a new, internationally proven trading platform is a strategically indispensible tool to realize these tasks," according to Patai. At the same time, he believes, that the exceptionally increased cost sensitivity of enterprises is also understandable in the present economic environment. "I have accepted my position of being the chairman with the goal to make progress and to create consensus in the domestic capital market. I really hope my resignation will now contribute to the achievement of both of these goals.”

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