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ARTICLE · 20 JUNE 1995

Annual Report 1994: Introduction by the Chairman

NetherlandsFinance and Banking
The following statement was taken from The Amsterdam Exchanges NV Annual Report 1994.

The 1994 year was an important one for the Amsterdam Exchanges NV: after careful preparation a completely new trading system was successfully introduced. Initial experiences with the system have been good, warranting the expectation that it will help bolster the international competitive position of the Amsterdam Exchanges NV. In terms of market share the ASE is gaining ground.

In the year under review the Stock Exchange Council also approved the second phase of the reform process, the integration and expansion of clearing and settlement facilities. For an international market such as Amsterdam, maintenance of the home market function is dependent not only on the trading system but also on the available settlement facilities. The envisaged efficient, safe and locked-in trade facilities represent an important weapon in the international battle for market share, not only between stock

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