THE World Federation of Exchanges (WFE) which represents public markets around the world, will start a new global industry initiative to promote financial education and entrepreneurial skills among school children and university students, following an overwhelming response from its members to join a new study group on the topic.
A statement from WFE explained that thirty exchange and clearing house members have joined up to date.
The Financial Education & Literacy Study Group working under the aegis of the WFE’s Working Committee and led by Japan Exchange Group, Inc. (JPX) will extend the reach of current WFE, JPX and other exchange and clearing member initiatives and programmes.
According to the statement, the group will also facilitate the sharing of exchanges’ expertise and experiences in the area of financial education for young people around the world.
The group, founded and chaired by JPX, is putting together an Action Plan in a first step to promote the hands-on and active acquisition of financial and entrepreneurial knowledge and skills by school pupils, college and university students.
JPX will share the valuable experiences and insights it has gained using stock-trading games to convey to school pupils the importance of investment in stocks and shares. JPX will also share with other WFE exchanges its experience with the “JPX Entrepreneur Program”, which encourages university students to think through business concepts and learn the practical skills involved in setting up a company. The group will share information about member efforts and projects globally.
The study group will review the range of financial education programs already in use by exchanges around the world and will help exchanges set up and run similar initiatives. It will also consider ways to promote wider recognition of excellence and achievements among programme participants.