These key business priorities are in addition to the longer-term work the organisation does around understanding, defining and quantifying the economic and social role of exchanges and CCPs; and its role in ensuring the industry continues to remain close to the issues that affect its stakeholders. The WFE, which represents more than 200 market infrastructures worldwide, will build on its policy and research work across all the priority areas, and will continue to develop industry consensus positions, best practice, standards and industry guidance throughout 2018, in addition to working on emerging trends. The WFE's four strategic pillars of advocacy, education, emerging markets and post-trade continue to underpin its work.
The WFE's 18-member Board and 67-member Working Committee held their first meetings of 2018 in Frankfurt, hosted by Deutsche Boerse AG, to discuss and agree the ongoing work of the WFE and its forward agenda. Also at the meeting, the WFE admitted two new members: the Nairobi Securities Exchange and China Securities Depositary and Clearing Corporation.
The WFE Board congratulated Wu Qing on his new role as Vice Mayor of the City of Shanghai and thanked him for continuing to serve as Chairman of the WFE. Wu Qing, who remains Non-Executive Chairman of the Shanghai Stock Exchange, will complete his WFE mandate in Autumn 2018 at the WFE General Assembly in Athens.
Wu Qing, Non-Executive Chairman of Shanghai Stock Exchange, and Chairman, The WFE, said: "The WFE will be ramping up its advocacy, research, education and communications efforts over the coming year, as it accelerates delivery of its work plan, and continues on its journey as the voice for the global market infrastructure industry. I am particularly passionate about the new work we will undertake to promote sustainability principles for exchanges. By harnessing the power of our membership, together we can move towards a sustainable financial future, based on socially responsible investment."
Nandini Sukumar, CEO, The WFE said: "The two-day meeting in Frankfurt clearly defined the WFE's direction of travel in 2018, and beyond, and we are excited about the next stage of our development. The WFE priorities tackle the most pressing issues impacting our sector across the globe, and form the foundation of our work in the year ahead. 2018 will be a year of growth and evolution for the WFE as we build out our team further, and continue to create momentum behind our long-term objective of engaging and educating stakeholders on the role and value of exchanges and CCPs."
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About the World Federation of Exchanges (WFE):
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 200 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of our members, 41% are in Asia-Pacific, 40% in EMEA and 19% in the Americas. WFE exchanges are home to nearly 45,000 listed companies, and the market capitalisation of these entities is over $67.9 trillion; around $84.18 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2016).
The WFE is the definitive source for exchange-traded statistics, and publishes over 350 market data indicators. Its statistics database stretches back more than 40 years, and provides information and insight into developments on global exchanges.
The WFE works with standard-setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities' goals of ensuring the safety and soundness of the global financial system, which is critical to enhancing investor and consumer confidence, and promoting economic growth.
For more information, please contact:
Head of Communications, The World Federation of Exchanges
Phone: +44 20 7151 4137 / +44 7850 287 685