CEO Letter - February 2018

By: The WFE Team Feb 2018

Dear Colleagues

Welcome to the February issue of Focus, where we look back at the recent WFE Working Committee in Frankfurt at the end of last month, hosted by Deutsche Börse AG.

At the meeting, we welcomed a compelling presentation from Dr Alexandra Hachmeister, Chief Regulatory Officer, Head of Group Regulatory Strategy, Deutsche Börse AG who gave us the view of a Financial Market Infrastructure (FMI) operator in the European Union on the regulation of financial markets. This month, we feature a summary of that presentation, where Alexandra outlines the main drivers for European financial markets regulation, and how, looking ahead, the focus of political EU decision-making is changing with Brexit.

Another participant at the WFE Working Committee meeting was Dr Corinna Freund, Principal from the ECB’s Oversight Division, who took part in a lively group debate on financial and systemic rick in the post-trade space. Her colleague Clément Rouveyrol, Market Infrastructure Expert, ECB Oversight Division writes in this month’s issue on the topic, taking us through current regulatory priorities for CCP recovery and resolution.

In the Executive Interview section, we are pleased to introduce you to Geoffrey O. Odundo, CEO of Nairobi Securities Exchange (NSE), and one of the WFE's newest members. Geoffrey talks about the importance of WFE membership, and outlines his long-term vision for the exchange, where he plans to focus on liquidity and listings.

Earlier this month, WFE member the Luxembourg Stock Exchange (LuxSE) signed a Memorandum of Understanding (MoU) with the Agricultural Development Bank of China (ADBC). This MoU is designed to set up an access scheme to display ADBC’s green, poverty alleviation and sustainability bonds on the Luxembourg Green Exchange (LGX) platform, the first and only exchange-operated platform entirely dedicated to green, social and sustainable instruments. We hear more about this ground-breaking agreement this month.

The WFE’s Dr Stefano Alderighi, Senior Economist – Researcher, attended and presented the WFE's research on retail trading in emerging markets at the first International Workshop on Econometrics and Empirical Economics (IWEEE) in Milan last month.

March is an important month for both gender quality - with ‘Ring the Bell for Gender Equality’ events taking place around the world next week - and financial literacy for students – with Global Money Week from 12-18 March. Read all about these important initiatives in the magazine this month.

Earlier this week, the WFE held its SME Conference, with host, the Malta Stock Exchange (MSE). We will be featuring a number of guests from the event in next month’s Focus, but for now, the WFE would like to take this opportunity to warmly thank our very kind hosts for their outstanding hospitality.

There are just a few weeks left until the 35th IOMA: The WFE’s Clearing & Derivatives Conference, with host OCC (Options Clearing Corporation). The meeting will take place in Chicago from Wednesday 11 April through to Friday 13 April 2018. The WFE’s IOMA conference focuses on post-trade issues and brings together the leaders of the world’s futures & options markets with clearing houses. The conference website is now open, and you can register here.

Thank you.