By Tunde Osho
The World Federation of Exchanges (WFE) has agreed its 2018 business priorities will focus on areas including regulatory coherence; CCP recovery & resolution issues; cyber security, FinTech and small and medium enterprises (SMEs).
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.
The Non-Executive Chairman of Shanghai Stock Exchange and Chairman, WFE, Wu Qing, 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.”
CEO, WFE, Nandini Sukumar, 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.”