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At the 58th General Assembly in Athens on Wednesday, the World Federation of Exchanges (WFE) admitted six new members taking the total number of full members to 70.
With six members joining since the last General Assembly in 2017, the WFE now represents more than 200 market infrastructure providers.
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.”
Meanwhile, the WFE has elected seven Directors of the Board. The seven elected Directors of the Board are as follows:
1. Dr Urs Rüegsegger, Chairman, SIX Swiss Exchange – Chairman, WFE (2-year term)
2. Mr Edward Tilly, Chairman & CEO, Cboe Global Markets – Vice Chairman, WFE (2-year term)
3. Mr Vikram Limaye, Managing Director & CEO, National Stock Exchange of India (NSE) – Working Committee Chairman, WFE (2-year term)
4. Mr Bryan Durkin, President, CME Group – Director, Americas region (3-year term)
5. Mr Huang Hongyuan, Executive Chairman, Shanghai Stock Exchange (SSE) – Director, Asia-Pacific region (3-year term)
6. Mr Andreas Preuss, Deputy CEO, Deutsche Börse AG – Director, EMEA region (3-year term)
7. Ms Nicky Newton-King, CEO, Johannesburg Stock Exchange – Director, EMEA region (3-year term)
Nandini Sukumar, 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:
1. Dr Urs Rüegsegger, Chairman, SIX Swiss Exchange – Chairman, WFE
2. Mr Edward Tilly, Chairman & CEO, Cboe Global Markets – Vice Chairman
3. Mr Vikram Limaye, Managing Director & CEO, National Stock Exchange of India (NSE) – Working Committee Chairman
4. Mr Gilson Finkelsztain, CEO, B3 – Brasil Bolsa Balcão – Director, Americas region
5. Mr Gregory Wojciechowski, President & CEO, Bermuda Stock Exchange – Director, Americas region
6. Mr Juan Pablo Cordoba, CEO, Bolsa de Valores de Colombia – Director, Americas region
7. Mr Bryan Durkin, President, CME Group – Director, Americas region
8. Mr Meyer Frucher, Vice Chairman, Nasdaq – Director, Americas region
9. Mrs Laura Cha, Chairman, Hong Kong Exchanges and Clearing – Director, Asia-Pacific region
10. Dr Pakorn Peetathawatchai, President, Stock Exchange of Thailand – Director, Asia-Pacific region
11. Mr Jiwon Jung, Chairman & CEO, Korea Exchange – Director, Asia-Pacific region
12. Mr Huang Hongyuan, Executive Chairman, Shanghai Stock Exchange (SSE) – Director, Asia-Pacific region
13. Mr Boon Chye Loh, CEO, Singapore Exchange – Director, Asia-Pacific region
14. Mr Andreas Preuss, Deputy CEO, Deutsche Börse AG – Director, EMEA region
15. Ms Nicky Newton-King, CEO, Johannesburg Stock Exchange – Director, EMEA region
16. Mr Rashid Ali Al Mansoori, CEO, Qatar Stock Exchange – Director, EMEA region
17. Mr Khalid Abdullah Al Hussan, CEO, Saudi Stock Exchange (Tadawul) – Director, EMEA region
18. Mr Sunil Benimadhu, CEO, Stock Exchange of Mauritius – Director, EMEA region
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