Budapest Stock Exchange returns to full FESE membership

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The Budapest Stock Exchange (BSE) announced today that it has returned to full membership in the Federation of European Securities Exchanges (FESE), according Hungarian News Agency MTI.

The BSE initially became a full member of FESE on June 1, 2004, shortly after Hungary’s accession into the European Union. It later retained membership status through its owner, the CEE Stock Exchange Group.

“The close cooperation through FESE with other exchanges ensures we can learn the views of other leading securities markets about current trends, and to gain overall international experience about capital market-related topics guaranteeing that Budapest will proceed in conformity with EU standards,” the BSE stated in a press release issued today.

“We hope during our full membership, we can actively contribute to the work of FESE and to create value for our peers, be it regulatory topics or business development,” it continued.

A majority (77%) stake in the BSE was purchased by the National Bank of Hungary last November, however, it intends to sell off its shares over the next five years, according to recent comments made by BSE CEO Richárd Végh.

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