In 1999 the Association of Futures Markets held its General Assembly and Annual Conference in Bucharest on October 7-9 (Crowne Plaza Hotel). This was the very first occasion where beyond its members, the AFM invited other organizations to learn about the association, its members and activities.

On the Conference we had delegates from the Polish Financial Exchange, the Rousse Board of Trade (Bulgaria), Agro Berza Skopje (Macedonia) and the Izmir Commodity Excahnge (Turkey).

The General Assembly elected Mr. Mircea Filipoiu, President of the Romanian Commodities Exchange as the AFM Chairman for the year 2000. Mr. Filipoiu replaced Mr. Szergej Keresztesi who was the Chairman of the Budapest Commodity Exchange.

During the first day all present organizations gave a short overview of their current activities and future development plans. The second day was dedicated to roundtable discussions:

• Mergers (equity/derivative markets and derivative/derivative markets moderated by Roderick Gravelet-Blondin (SAFEX)
• Real time clearing and settlement moderated by Gergely Horváth (KELER Co.)
• Exchange alliances moderated by Liliana Paraipan (BRM)
• Internet: threat or opportunity moderated by Theo deVries (Amsterdam Exchanges)
• New electronic exchanges moderated by Theo deVries (Amsterdam Exchanges)
• Disappearance of local exchanges moderated by Theo deVries (Amsterdam Exchanges)
• Elevator/warehouse receipts moderated by Roderick Gravelet-Blondin (SAFEX)
• GMO product and how future markets are dealing with it moderated by Roderick Gravelet-Blondin (SAFEX)