CMA Vice Chairman Mr. Firas Safieddine highlighted the role of the Capital Markets Authority as per law 161/2011, and its vision towards the development of the Lebanese capital markets at the event organized by the Beirut Stock Exchange (BSE) to launch an advanced electronic trading system in collaboration with NYSE-EURONEXT International. Vice Chairman Safieddine proposed several ideas to help promote and develop the sector including, but not limited to, partially privatizing the high revenue national companies and enable ownership access to the public. The event was held at the Four Seasons Hotel on Monday the 19th of May to launch the new BSE Trading platform.
The BSE and Euronext signed an agreement to provide the BSE with Euronext’s new Universal Trading Platform (UTP-Hybrid). The new multi class and multi-currency trading platform provides complex functions for low latency markets. The new system would improve the BSE’s technical performance, increase market transparency, and raise trading capacity and speed. According to the BSE, the system will be fully functional in two years.