We're not looking to merge but want to move forward and share services and platforms without losing our own identities and where it makes sense. They are talking about how to extend their co-operation in the clearing field without worrying about political and control issues. E-commerce and IT have forced exchanges to look inwardly to see whether they are adding value to the transacting chain, says Birley. Exchanges need to look carefully at what they are doing and reinvent themselves. We are always striving for extra growth.
Exchange controls are still a big issue.
An overseas partner would offer greater distribution, which would obviously benefit Safex. But it would be more difficult for us to offer any benefits to the other party. He also questions whether visible benefits have flowed from the frantic merging of foreign exchanges a year ago. For now, Safex volumes have grown more vigorously than average international exchange-traded derivative volumes. The high trading levels improved Safex's position in the world league tables.