The Federation of European Securities Exchanges (FESE) has accepted Macedonian Stock Exchange Inc. Skopje as a corresponding exchange, starting from 01.03.2005. The decision was adopted by the Working Committee of the Federation, on the session held in Lisboa on 18.02.2005. Corresponding Exchange status is seen by FESE as the first step towards a further deepening of relations between the Brussels-based Federation and Exchanges in emerging European markets. The status is usually of high reputational value for the Exchange in its national environment as it demonstrates the ability of the exchange to make progress to match the regulatory and other quality standards that all FESE Members apply.