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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.

DFM Announces the Inclusion of “AMANAT” and “DUBAI PARKS” into the General Index

Dubai Financial Market announced that shares of two newly listed public joint stock companies, AMANAT and DUBAI PARKS, will be added to its general index (DFMGI) and to sector indices as of Monday January 19th 2015. The number of companies listed in the index increased to 34 companies.

Shares of AMANAT have been added to the DFM General Index and Services sub-index. The outstanding shares for the company is 2.5 billion shares, while the percentage of free float shares as per the index rules is 75%, and number of shares embedded in the index sample is 1.875 billion shares.

Shares of DUBAI PARKS have been added to DFM General Index and Consumer Staples & Discretionary sub-index. The outstanding shares for the company is 6.322 billion shares, while the percentage of free float shares as per index rules is 50%, and number of shares embedded in the index sample is 3.161 billion shares.

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Commencement of Trading on the First Exchange Traded Fund (ETF) in the Egyptian Exchange

The Egyptian Exchange commenced its first ETF trading on Wednesday, January 14, 2015. The newly traded ETF tracks the main index, EGX 30 index, where its certificates are allowed to be traded as other securities, through brokerage firms. The ETF nominal value on the first day of trading was LE 10 per certificate and it complied with all the applied trading mechanisms and rules except the trading suspension mechanism.

Dr. Mohammed Omran, EGX chairman stated that the commencement of trading on the first ETF in the Egyptian market is a new development and represents an increase in the market depth through providing new financial instrument other than stocks, bonds and mutual funds. He also stressed that this tool was an urgent demand by local and foreign investors and is expected to attract new investors as it represents a good hedging tool for all dealers that enables the investors to diversify the risks by investing in a basket of 30 stocks at once and at a lower trading cost.

Dr. Omran also explained "We had a clear commitment to EGX strategy (2013-2017) to launch ETFs during 2014, and we are glad that we were able to achieve this as it significantly reflects that institutional management has become the main culture at EGX."

Moreover, EGX Chairman stated "I see that the Egyptian market is progressing and moving confidently with a clear strategy to achieve further development and efficiency in accordance with the set objectives". In addition, Dr. Omran also stated that the ETF launching also witnessed the commencement of a new mechanism, the market maker, which would contribute greatly to increasing market liquidity levels. For more information regarding the newly listed ETF, kindly refer to EGX website.

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SIX Swiss Exchange Launches Innovative New Corporate Bonds Trading Platform

SIX Swiss Exchange is to launch an electronic platform for trading corporate bonds in the first half of 2015. This platform will allow SIX Swiss Exchange to provide market participants with a more efficient trading of larger blocks also in less liquid issues. The new platform's innovative trading model was developed in close cooperation with current sell-side market participants.

The launch of the new trading platform in the first half of 2015 will result in the creation of a multilateral liquidity pool for the trading of large order of corporate bonds. This will help eliminate the disadvantages of inefficient off-exchange trading: insufficient liquidity, small trade sizes, time- consuming price negotiations, as well as the worry that prices could be negatively influenced by premature disclosure. An innovative matching logic brings market participants together and ensures a regulated market is created in which protection against information leaks is assured, pricing and volumes are agreed electronically and execution is completed without any negative market impact.

The new trading platform is part of SIX Swiss Exchange's "Over the Exchange initiative", which offers new exchange services to the exchange's broadly diversified client base. SIX Swiss Exchange is therefore providing an alternative to the highly fragmented bond trading arena, most of which is conducted outside an exchange infrastructure and is therefore inefficient. The new trading platform will facilitate efficient, competitive execution particularly for less liquid corporate bonds and large trades of at least two million in EUR, GBP or USD.

The platform will be domiciled in Switzerland and subject to regulatory supervision by the Swiss Financial Market Supervisory Authority (FINMA). SIX Exchange Regulation will be responsible for the market supervision. Algomi Ltd. was selected as the technology partner for the development of this industry-leading solution.

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The Egyptian Exchange (EGX) Participates in the Ninth Joint Conference of the Council of Egyptian-Japanese Businessmen

The Egyptian Exchange (EGX) participated in the ninth Joint conference of the Egyptian-Japanese businessmen. In EGX presentation, Dr. Omran emphasized that the courageous economic reforms applied recently and in the forefront subsidy system and tax reforms have greatly contributed in the restoration of the economic stability. He stressed that the economy has begun to clearly respond, which is reflected on the high economic growth rates to reach 4% during the current fiscal year which is expected to cross this frontier during the following year. In the mean time, the budget deficit decreased as well the inflation rates, which has raised Egypt's credit rating for the first time since 2011, a sign cannot be unnoticed.

Omran highlighted that EGX outstanding performance during 2014 clearly reflects the future of the Egyptian economy. The significant capital increases which has been executed through market indicates the positive outlook for investors and companies of a better economic position during the coming period. He stressed that foreign investors have registered net purchases for the first time since 2010, soaring to an average trading value of more than LE 40 billion.

He also noted that Japan is very active in the field of development in Egypt; however, the Japanese investments are still less than the anticipated as it does not exceed 1% of the foreign investments in Egypt which represents not more than 0.07% of Japanese investment abroad. Omran invited the Japanese investors to look to the future and exploit the opportunities available in the Egyptian economy, especially in the infrastructure and the giant projects that amounts to USD 70-100 billion. He stressing that the studies classify Egypt as one of the top countries in the world in terms of return on infrastructure investment. He finally claimed to benefit from the leading Japanese experience in the field of small and medium enterprises development.

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Japan Exchange Group (JPX) and Nasdaq Agree to Milestone Market Technology Deal

Japan Exchange Group (JPX) and Nasdaq have officially agreed on the development and support of a next-generation derivatives trading system for the JPX subsidiary, Osaka Exchange. In addition to the trading system, which will operate on Genium INET technology, Osaka will also tap industry-leading SMARTS Market Surveillance for its real-time market surveillance efforts, and TradeGuard for pre-trade risk management functionality, both Nasdaq technologies.

Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East. JPX is now the 42nd marketplace to take up SMARTS Market Surveillance technology.

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Euronext Launches Options on ETFs in Amsterdam

Euronext, the leading exchange in the Eurozone, today announced the launch of options on six iShares ETFs on its highly successful and innovative Amsterdam derivatives market. The new option products will provide investors with enhanced investment opportunities in ETFs tracking a broad range of macro themes. The options on ETFs are developed and launched as a result of strong market demand. Participants in the launch are iShares (the ETF unit of Blackrock) global quantitative trading firm Susquehanna that acts as liquidity provider and asset manager Theodoor Gillissen.

Since their introduction to the financial markets, ETFs have experienced substantial growth in the US and more recently also in Europe. A recent change in regulation in the Netherlands, the abolition of distribution fees, has increased interest in ETFs and leading to an extremely healthy environment for these products. Over the last year, trading in ETFs on Euronext Amsterdam increased by 40% and the assets under management of Dutch domiciled ETFs listed on Euronext have more than doubled¹.As the ETF franchise expands, investors are looking for complementary products and this launch responds to that demand, offering them the opportunity to use different trading strategies, giving investors domestic access to trading global benchmarks through exposure to an ETF underlying.

Options on ETFs provide institutional and retail investors with an alternative way of investing in broad indices using an option trading vehicle. They operate like individual equity options providing the same risk management and portfolio opportunities and combine the diversification benefits of ETFs with the flexibility of options².

The first ETF options contracts will be launched on iShares MSCI Emerging Markets UCITS ETF, iShares EURO STOXX 50 UCITS ETF, iShares MSCI Europe UCITS ETF, iSharesS&P 500 UCITS ETF, iShares MSCI World UCITS ETF and iShares MSCI Japan EUR Hedged UCITS ETF.

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