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ASE today
The Athens Stock Exchange (ASE) is an emerging small market with no adequate “depth” or “width” compared with other more developed stock markers worldwide. The Athens Stock Exchange is among those emerging capital markets closely monitored by international investors and institutions. During the 1980’s, the market has attracted a growing attention of investors reflected in a rise of the general stock price level, a growth of the volume of trade and a substantial increase on the number of listed companies. Since 1990 the institutional setting has been liberalised and technical improvements have been introduced. The major changes consisted of the introduction of brokerage companies, the clear description of their rights and obligations, a stricter monitoring against insider trading, the creation of depository company and the introduction of an electronic quotation and trading system. (G.Papachristou, 1999).
Today, Athens Stock Exchange is a joint stock company, supervised by the Ministry of National Economy. The ownership of the exchange belongs to the Greek state, as well as to banks, listed companies, pension funds, institutional investors and members of the exchange. The Board of Directors of the ASE is composed of 9 members, appointed for a three-year period. It is responsible for all issues regarding the administration of the stock exchange, the management of its property and the pursuit of its objectives.
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