The creation of the new post will enable the Paris based organization to transform its focus from research to a more active lobbyist for bourses in the wake of a new wave of regulations and competition from banks, as reported by Financial Times.
The creation of the new post will likely involve replacing and scrapping the post of secretary-general currently held by Thomas Krantz.
The move follows the growth of off-exchange, or over-the-counter markets as well as backing of alternative trading platforms such as Chi-X by major banks, which has resulted in reducing market share of exchanges in equity trading.
WFE board members NYSE Euronext, Deutsche Börse, BM&FBovespa and Hong Kong Exchanges & Clearing will discuss about the creation of the new post and its scope.
