Go Back
SPEECH BY THE HON. PRIME MINISTER DR. EDDIE FENECH ADAMI, DURING AN OFFICIAL VISIT TO THE NEW PREMISES OF THE MALTA STOCK EXCHANGE – CASTILLE PLACE VALLETTA
pr1500
16/10/2001
16/10/2001
Mr Chairman and Members of the College,
| I would like to thank you for your warm welcome as | well as for the kind invitation extended by the Malta Stock Exchange to visit these new premises. |
| The Malta Stock Exchange has, in the relatively short | space of ten years, achieved an important place in the national economic framework. When the Exchange opened for business in 1992, most people were sceptical about its future. Today we are pleased to say that we have an organisation that has not only achieved national recognition, but also enjoys an international status. The Malta Stock Exchange enjoys full membership of the International Federation of Stock Exchanges and has also been accepted as an Associate Member of the Federation of European Securities Exchanges. |
| Mr Chairman, I cannot but wholeheartedly agree with | your statement that the Exchange is there to work and to work properly. I am sure that the Council of the Exchange, as well as the management and staff, are fully committed to achieving this goal. The achievements of the past ten years are proof enough of this commitment. |
| However, we must realize that whilst the Exchange is | providing the market floor where securities trading can take place smoothly, efficiently and in the most transparent manner, the growth and development of this market must also be cultivated at the user level. And it is here that the role of the stockbroker becomes critical. |
| Stockbrokers are in direct contact with investors, | indeed, stockbrokers are licensed to give advice both to investors as well as to would-be investors. These people put their faith in you because they see you as trusted professionals giving your advice in an impartial and disinterested manner. This places a great responsibility on each one of you, a responsibility not only towards the investor but also towards the market itself. |
| The main function of an exchange is to further the | development of the economy by channeling savings into productive investment. The market should not therefore be seen as a gambling establishment where people try their luck to make money. It is important that investors get the right message, and brokers have a critical role in getting this message across. |
| Investor confidence, as you so rightly put it, is | ultimately what makes or breaks a market. My Government has worked hard during our period in office to generate confidence, and this because we firmly believe that sustained confidence underpins the continued development of our economy. Confidence and trust, however, can only be truly generated if we can rise above our own egoistic expectations and consider national interests first and foremost. |
| During the past ten years, the Exchange has led a | nomadic existence, moving premises a number of times, but today I’m sure you will all agree that these premises were well worth waiting for. Let me take this opportunity to wish every future success to the Council of the Exchange, as well as to its management and staff, and to all members of the stock-broking profession. |
Share this Press Release
Other Press Releases:
PR261926
STQARRIJA MILL-UFFIĊĊJU TAL-PRIM MINISTRU “Sodisfatt bil-qbil bejn il-mexx...
PR261925EN
PRESS RELEASE BY THE MINISTRY FOR EUROPEAN FUNDS, SOCIAL DIALOGUE AND CONSU...
