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The World Federation of Exchanges represents 64 regulated exchanges across the world, and acts on behalf of a total of 99 organizations including affiliate members and clearinghouses.


Our member exchanges are home to more than 45,000 listed companies, while our widely used statistics database covers more than 350 indicators and 40 years of data from exchanges worldwide. Our members provide a significant contribution to the real economy, representing a total market capitalization of USD 63.5 trillion and a total trading value of USD 76 trillion, a value which is over 65% of the world GDP.


Since its foundation 54 years ago, the WFE has organized committees, meetings, general assemblies, conferences, and workshops for its members to transfer knowledge and share expertise. As an industry trade organisation, the WFE has discussed virtually every aspect of the capital market: the technical, the commercial, the legal and the economic. In the past four decades we have published studies and reports on issues such as self-regulation, cross border trading, HFT, cyber security and many others besides.

WFE Names FCA’s Gavin Hill as Head of Regulatory Affairs

July 7, 2015

The World Federation of Exchanges (WFE), the global industry association for regulated exchanges, today announced the appointment of Gavin Hill as Head of Regulatory Affairs.

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WFE Names David Thomas as Head of Communications

June 5, 2015

WFE welcomes David Thomas to the Federation as Head of Communications from 8 June 2015, the first key hire this year.

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Egypt to Postpone the Capital Gain Tax

With the framework of the government efforts to support the investment environment in Egypt, the Egyptian government announced on 18 May 2015 postponing the execution of the Capital Gain Tax decision. The decision aims to maintain the competitiveness of the Egyptian Exchange taking into consideration its repercussions on the Egyptian economy and on its ability to attract more investments.

This decision comes within The Prime Minister & the Minister of Investment visit to the Egyptian Exchange for the Opening of the trading session.


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Korea Exchange Joins the United Nations Sustainable Stock Exchanges Initiative as a Partner Exchange

Korea Exchange (KRX) publicly announced that it has joined the United Nations Sustainable Stock Exchanges (SSE) Initiative as a Partner Exchange to promote sustainable business practices among listed companies at the UN Global Compact Korea Leaders Summit 2015 held on the 19th May 2015 in Seoul.

The UN SSE Initiative, launched by Secretary-General Ban Ki-moon in 2009, aims to explore how exchanges can work together with investors, regulators and companies to enhance corporate transparency on Environmental, Social, and corporate Governance (ESG) issues and encourage responsible long-term approaches to investment.

Stock exchanges play a critical role in encouraging listed companies to practice sustainable business strategy to improve business performance on non-financial issues. KRX has made efforts on ESG related issues in Korea such as enhancing corporate governance of listed companies by introducing voluntary disclosure of ESG information.

KRX believes that pledging to the SSE Initiative will promote sustainable business performance of listed companies and will support practice of ESG in Korean capital market. Dr. Kyungsoo Choi, Chairman and CEO of KRX, emphasized the importance of corporate social responsibility; "I firmly believe that joining the SSE Initiative shows our strong commitment to being a responsible member in the international community. We will continue dialogue with stakeholders and work with exchanges as a member of the World Exchange Federation's (WFE) Sustainability Working Group, and will continue to support Korean listed companies to recognize the importance of sustainable management."

KRX will encourage spread of ESG practices in listed companies through providing corporate governance code, facilitating institutional investors to invest in corporations with transparent ESG practices, and also promoting sustainable long-term investment by developing a new Sustainable Responsibility Index. Moreover, KRX will endeavor to contribute to secure soundness of capital market in Korea by increasing responsibilities of exchange-listed companies to have sustainable business practices.

Photo: UN Secretary-General Ban Ki-moon (4th fromleft), Dr. Kyungsoo Choi, Chairman & CEO of Korea Exchange (5th from left) and Mr. Georg Kell, Executive Director of UN Global Compact (3rd from left) congratulate Korea Exchange's joining UN SSE Initiative.
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The World Federation of Exchanges Appoints Nandini Sukumar as New Chief Executive Officer

March 11, 2015

The World Federation of Exchanges (WFE), the global trade association of regulated exchanges, today announced the appointment of Nandini Sukumar to the position of Chief Executive Officer. Ms Sukumar has been Acting CEO of the WFE since November last year.

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Toronto Stock Exchange Celebrates 25 Years of Listing and Trading Exchange Traded Funds

2015 marks the 25th anniversary of the creation of the world's first Exchange Traded Fund (ETF). To celebrate this milestone, as well as the rapid growth of the Canadian and global ETF markets, Atul Tiwari, Managing Director, Vanguard Investments Canada Inc. & Vice Chair, Canadian ETF Association (CETFA), members of CETFA and ETF providers joined Ungad Chadda, Senior Vice President, Toronto Stock Exchange (TSX) to open the market on TSX today.

"The ETF is a made-in-Canada financial innovation. We are proud to have led the world in the creation of this revolutionary investment product," says Mr. Chadda. "The ETF industry in Canada and globally has been a phenomenal growth story and TSX is committed to supporting the Canadian ETF market as it further grows and evolves."

The world's first exchange-traded, index-linked product – the precursor to the modern day ETF – was launched on TSX when the Toronto 35 Index® Participation Units (TIPs®) was listed in 1990. In March 2000, the TIPs was merged into the iUnits S&P/TSE 60 Index Participation Fund, known as the "iUnits 60 Fund," and trading under the symbol XIU. Following several name changes in the following years, that fund is today known as the iShares S&P*/TSX 60 Index ETF, the largest Canadian-domiciled ETF with over $11 billion in assets under management (AUM), and among the top five most actively traded securities on TSX.

The Canadian ETF market has seen impressive growth over the past quarter century, and 2014 was a noteworthy year for the industry. The year ended with nearly $77 billion in AUM, up $13.7 billion from 2013 – the largest annual increase in the industry's history. In fact, the Canadian ETF market garnered double-digit annualized growth of over 20% last year. As of February 28, 2015, there were 354 ETFs listed on TSX, with 77 new products launched since January 2014. ETFs currently represent over 20% of total TSX listings. In 2014, 5.5 billion ETF shares were traded on TSX, representing almost 7% of all trading on the Exchange. Options on 31 ETFs also trade on Montréal Exchange, a wholly-owned subsidiary of TMX Group.

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