At the 58th General Assembly in Athens today, the World Federation of Exchanges, the global industry group for exchanges and CCPs, admitted six new members taking the total number of full members to 70, an historic high. With six members joining since the last General Assembly in 2017, the WFE now represents more than 200 market infrastructure providers.
https://twitter.com/TheWFE/status/1047410352810545157
The new members are:
1. London Stock Exchange Group: a diversified international market infrastructure and capital markets business operating a broad range of equity, bond and derivatives markets (approved as a full member at today’s 58th WFE General Assembly).
2. Boursa Kuwait: a private entity established to manage the Kuwait stock market (approved as a full member at today’s 58th WFE General Assembly).
3. Multi Commodity Exchange of India (MCX): a commodity derivatives exchange that facilitates online trading, and clearing and settlement of commodity derivatives transactions (approved as a full member at today’s 58th WFE General Assembly).
4. Tunis Stock Exchange: responsible for managing the Tunisian transferrable securities market (approved as a full member at the WFE’s June 2018 Board meeting).
5. China Securities Depository and Clearing Corporation (CSDC): a securities registration, clearing and settlement business (approved as a full member at the WFE’s January 2018 Board meeting).
6. Nairobi Securities Exchange: an equity and debt securities provider (approved as a full member at the WFE’s January 2018 Board meeting).
Nandini Sukumar, CEO, WFE said: “Members are the lifeblood of any trade association, and our new members demonstrate the truly global breadth and multi-asset class depth of today’s WFE. We are proud to represent such a diverse range of organisations, and with full members now standing at 70 - the greatest number in the federation’s 57-year history – our role as the voice of the global market infrastructure industry has never been more important.
“Moreover, with our ever-growing mandate and membership base, we look forward to championing the causes that matter to our members, focusing on business-critical topics including CCP-related capital issues, sustainability, emerging markets, market integrity, regulatory coherence, SMEs, cyber resilience and FinTech.”
New directors
At the 58th General Assembly in Athens today, the World Federation of Exchanges ("WFE"), the global industry group for exchanges and CCPs, elected seven Directors of the Board.
Today’s seven elected Directors of the Board are as follows:
Nandini Sukumar, CEO, WFE said: “On behalf of the WFE and its members, I would like to take this opportunity to thank Wu Qing for his distinguished service as WFE Chairman over the past year. His leadership, particularly in the area of sustainable finance, has ensured the WFE remains forward-thinking, relevant and impactful in today’s fast-moving markets. We look forward to collaborating together in the future, as we continue to work to raise the profile of the issues that matter to market infrastructures.”
She continued: “Today, we are pleased to welcome these Directors to the WFE Board, especially the new WFE Chairman, Dr Urs Rüegsegger. This is a particularly exciting period for the federation as we build our role as global advocate and standard setter for the market infrastructure industry even further. We are confident that with such a strong and experienced leadership team in place, the WFE can continue to champion the vital importance of exchanges and CCPs to the societies and economies they serve.”
Wu Qing, Vice Mayor of Shanghai and Non-Executive Chairman of SSE said: “It is my honour and privilege to have served as Chairman of the WFE. I am very pleased to have fulfilled my mandate and accomplished various strategic goals with our members, particularly in setting up sustainability principles for exchanges, and embracing more members into this trade association. I am confident that the WFE, as the voice of the exchanges and CCP industry, will play an increasingly important role in promoting the long-term stability of the financial community and sustainable economic growth.”
Dr Urs Rüegsegger, Chairman, SIX Swiss Exchange and Chairman, WFE said: “I am very pleased and honoured by the confidence that the members have shown by electing me. The industry is still in transformation, and the WFE and its members - exchanges and clearing houses - are thinking about the future and how we can, and must, continue to act as guardians of the public markets. The WFE exists to ensure our industry takes its rightful role at the table as we construct the future of markets. I look forward to the next two years.”
As of 3 October 2018, the full WFE Board of Directors is as follows:
Source: WFE