Remarks of Duncan Niederauer, Chief Executive Officer, NYSE Euronext

Thank you, Dr Hussain and honoured guests.

On behalf of our Board and all my colleagues at NYSE Euronext, I welcome this mutually beneficial strategic partnership with the State of Qatar and the Doha Securities Market.

It is a great privilege to align NYSE Euronext with Qatar and the Doha ’s financial marketplace, whose role is vital and growing in the Gulf region and globally.

We are greatly appreciative to His Excellency Sheikh Hamad bin Jassim bin Jabr Al-Thani, Dr. Hussain and the entire team of Doha Securities Market for this exciting opportunity

Our announcement breaks new ground in many ways. For instance, this partnership is the largest that NYSE Euronext has taken in an equity participation in an overseas exchange and also represents one of our more significant technology engagements to date.

Qatar  is already widely recognised for its success in creating an open, vibrant and competitive environment, encouraging private enterprise, fostering innovation and promoting overseas investment.

As the world’s leading, most diverse and most technologically advanced global exchange group, we have long recognised the importance and huge potential of the Middle East region.

We are delighted to achieve our aim of expanding into the region through this partnership with the State of Qatar. 

Our technology and expertise will contribute to the vision that has been born of this historic agreement.

Qatar  is in the midst of a spectacular transition to become a knowledge-based and diversified economy rather than one reliant on its natural resources of oil and gas.

The country’s natural resources, which include one of the world’s largest gas reserves, are the foundations of a strong and sustainable economy; however Qatar ’s vision has long been much more expansive and far-sighted.

It is committed to diversification, with a target that by 2020 Qatar will no longer be dependent on its income from oil and gas.

This partnership fits with our long-term strategic business goals and benefits our shareholders.  We are very proud to be associated with Qatar and the Doha financial market.

I would also like to thank Qatar for its support in encouraging the United Nations to recognize World Autism Day.  The efforts of Ambassador Al-Nasser, Permanent Representative to the UN of the State of Qatar, were exemplary.

The Leadership of Qatar and her Highness Sheikha Mozahon the important issue of autism is contributing to the well-being of people around the world.

We will do our utmost to fulfil our obligations and responsibilities toward making this transaction successful…to contributing to the well-being of the people of Qatar …and to realize the vision of Qatar and Doha in the global financial marketplace.

Thank you.

Remarks of Jean-François Théodore, Deputy Chief Executive, NYSE Euronext

I would like to add my thanks to that of Duncan, to say again how appreciative we are to His Excellency Sheikh Hamad bin Jassim bin Jabor Al-Thani, His Excellency Yusof Kamal, Dr Hussain Al-Abdulla and the entire management team of the Doha Securities Market for this very exciting opportunity to develop this market together with them, linking it to the major trading centres of US and Europe.

We are very proud to have been chosen by the State of Qatar to further develop the cash equity and derivatives segments of the Doha Securities Market, already one of the leading exchanges in the Middle East.

We consider this market has huge potential for growth, as Qatar is the fastest-growing economy in the Middle East. This is a great opportunity for NYSE Euronext to take part in reshaping and developing this market through a technology partnership and a significant equity participation.

We will provide Qatar with our skills, expertise and intellectual knowledge to develop their financial marketplace in three major ways. In terms of:

Technology. In order for the world’s financial community to be able to access the Doha market we will provide connectivity solutions. We will also provide state-of-the-art electronic trading platforms for the cash equities and derivatives markets.

Secondly, in terms of product development. We will enlarge the product offering of the Doha Market so that it meets international investors’ needs.

And thirdly, in terms of management; NYSE Euronext will assist in identifying a new management team and structure to ensure the successful development of the Doha Exchange.

To show our commitment to this venture our Board of Directors has agreed that we take a 25% equity stake in the Doha Securities Market for $250 million in cash, the largest stake NYSE Euronext has ever taken in an overseas exchange.

Through this partnership we look forward to building a strong, long-lasting and friendly relationship with the Doha Exchange which will see it transform, from a successful local market, into a significant global player for the benefit of the people of Qatar , the Middle East and the wider global financial community.