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World Federation of Exchanges business priorities for 2020

posted onFebruary 10, 2020

The World Federation of Exchanges (WFE),  formerly the Federation Internationale des Bourses de Valeurs (FIBV), or International Federation of Stock Exchanges,  has set out its business priorities for the new year.

These will focus on the following areas: the value of the exchange role in creating data; Central counterparties (CCPs) and their role in systemic safety; Environmental, Social & Governance (ESG) issues; and building appropriate market structure around technology-led trends.

These priorities will be supported by ongoing work on market infrastructures’ role in the real economy; market fragmentation; and analysing, quantifying and describing the changes in market structure, the London-based feferation announced.

In 2020, the WFE will continue to focus on its research output being a leading and authoritative reference point for, and voice on, market structure. The federation will continue to develop industry codes of conduct, standards, best practice, guiding principles and guidance, along with benchmarking work.

In January the WFE's 18-member Board and 69-member Working Committee held their first meetings of 2020 in London, hosted by Nasdaq, to discuss and agree the WFE’s workplan and 2020 strategic projects, in the 60th year of the Federation’s work.

World Federation Exchanges Chairman

(Dr Urs Rüegsegger, Chairman of the WEF Photo: WEF)

Dr Urs Rüegsegger, Chairman of the WEF  on Jan. 15 delivered a speech at the WFE’s Annual Reception in the British capital.

“Looking ahead, we will need to continually reemphasise and explain why exchanges and CCPs do what they do; why they were integral in the post-crisis response; why markets are able to function in a fair, effective and safe manner; and why high investments by market infrastructures are necessary to maintain that status.

We face competition in what we do and that competition is welcome, but it must be overseen by supervisory authorities who take a balanced approach.

In striving to achieve these aims, the WFE will have an open door to working hand-in-hand with our partners and their expert teams. And I hope that we can all collaborate for the wider benefit of the markets and the economies we serve, even when currently buffeted by geopolitics” Dr Rüegsegger said.

Founded in 1961, the WFE was set up to contribute to ‘’the development, support and promotion of organised and regulated securities markets in order to meet the needs of the world’s capital markets in the best interests of their users.’’  

The federation represents over 250 market-infrastructures ranging from those that operate the largest financial centres to those that run frontier markets. Its members, 37% are spread across the Asia-Pacific region, 43% in Europe, Middle East and Africa, and 20% are the Americas.

They include over 50 distinct CCP clearing services including stand-alone CCPs. WFE exchanges are home to nearly 48,000 listed companies, and the market capitalisation of these entities is over $70.2 trillion; around $95 trillion in trading annually passes through the infrastructures WFE members safeguard.