Vienna: Gateway to Eastern Europe?

IMD: You have already acquired stakes in or partnered with exchanges in Hungary, Romania and the former Yugoslavia. How did that begin?

Buhl: When I joined the exchange three and a half years ago, Austrian banks and companies were at the forefront of doing business in Central Eastern Europe and the former Commonwealth of Independent States. So it made sense that the Vienna Stock Exchange would follow, and try to play a role in the integration of the Central Eastern European market. At a very