CEO Letter - June 2018

By: The WFE Focus Team Jun 2018

Dear Colleagues,

Welcome to June’s issue of Focus, a bumper issue where we look back once again at our Working Committee meeting in London at the end of May, and our recent symposium in Shanghai.

The WFE’s Fostering Growth in Global Capital Markets symposium in China, co-hosted by Shanghai Stock Exchange (SSE), took place earlier this month. We are pleased to feature five panellists from the event, who write about the key themes that were under discussion: building Shanghai as an international finance centre, sustainability, and the role of FinTech.

The first symposium contribution is from Jiang Feng, President, Shanghai Stock Exchange (SSE), and the Q&A interview focouses on his viewpoints on building Shanghai as an international finance centre. Our second contributor, Shaotong Liu, Executive Vice President, Shanghai Stock Exchange (SSE) - look at the proactive role of SSE in promoting green finance in China.

Our third contributor, Eugene Qian, President of UBS Securities, discusses the bank’s role in promoting sustainable growth in China. The fourth article by Zhenyi Tang, Chairman, CLSA, looks at the key drivers to build Shanghai as an international financial centre, and how CLSA is fostering capital market growth in China and abroad.

Our final panellist from the symposium, Yimei Li, CEO, China Asset Management, writes about how FinTech is influencing market infrastructures and changing the finance industry in China.

We are then pleased to welcome three participants from the WFE’s recent Working Committee, held in London. Angelo Evangelou, Chief Policy Officer, Cboe Global Markets, gives us the firm’s viewpoint on the SEC's current Transaction Fee Pilot, and its potential impact on US securities markets. And Joanna Perkins, CEO, Financial Markets Law Committee (FMLC), examines ‘Brexit, law and finance’, discussing the potentially complicated issues arising from the UK leaving the European Union, and how this may impact the finance industry.

In our Q&A, we welcome Vincent Dessard, Senior Policy Advisor, European Fund and Asset Management Association (EFAMA). Vincent also spoke at last month’s WFE Working Committee meeting, and this month writes about EFAMA, and the key issues impacting the European asset management industry.

Cyber-security is of course a major issue for the finance industry. This month, we have the Depository Trust & Clearing Corporation’s (DTCC) Stephen Scharf, Chief Security Officer, and David LaFalce, Executive Director and Global Head Business Continuity & Crisis Management, discussing how the industry can mitigate against the systemic consequences of a large-scale attack.

SIX became the ‘Most Valuable Exchange Brand’ in Europe in 2017, according to Brand Finance, a specialist consultancy in business brand valuations. From SIX, Tony Shaw, Head Sales UK & Ireland, Securities & Exchanges, discusses the importance of achieving this award and how the firm has successfully completed its recent internal merger, centralising the listing, trading, and post-trading securities services of its Swiss Exchange and Securities Services divisions.

Luxembourg Stock Exchange (LuxSE) celebrated its 90th birthday in May. Its Head of Communications and Events, Zuzanna Reda-Jakima, writes about the exchange’s history, its innovative approach to green finance, gender equality, and the future of finance industry.

The WFE’s Research Team published its revised Environmental, Social, and Governance (ESG) Guidance & Metricsthis month. The new revised documents are designed to help even more exchanges promote better ESG disclosure in their markets. Furthermore, you can watch the WFE’s Siobhan Cleary, Head of Research & Public Policy, discussing the latest WFE sustainability survey results in our latest video.

The WFE’s Research Team has published its latest monthly market insights, analysis, and statistics, and this month focuses on Exchange Traded Fund (ETF) listings and turnover activity, between January and May 2018.

Member and affiliate registration is now open for the WFE's 58th General Assembly & Annual Meeting, 2-4 October 2018. Prepration is well under way, and the event, hosted by Athens Stock Exchange, is shaping up to be an important moment for the market infrastructure industry, as we go back to basics and focus on the role of markets in renewal, ten years on from the deepest financial crisis since the Great Depression. For further details, please visit the event website; and please register here.

Focus is taking a summer break next month, and will be back in August, with a brand new look and feel, as we take the magazine into an even more modern direction.

We hope you enjoy the summer, and look forward to catching up with you all again at the end of August.

Thank you.