CEO Letter - October 2025

Welcome to the October edition of Focus.

This month we mark IOSCO’s World Investor Week, with stock exchanges and market infrastructures around the globe joining the “Ring the Bell for Financial Literacy” campaign. Investor education and awareness are at the heart of resilient markets, and this issue brings together stories that highlight just how diverse and innovative these initiatives have become.

We begin with Marwa El Baz and Mario Fakhry of the Egyptian Exchange (EGX), who showcase the Exchange’s wide-ranging financial literacy programmes – from StockRiders to EGX Spotlight – designed to engage new audiences and empower investors. Richard Carleton, CEO of the Canadian Securities Exchange (CSE), examines the regulatory barriers holding the sector back and the reforms that could unlock the next wave of discovery.

Vivian Rohleder, Director of Curriculum Development at The Options Institute, introduces Cboe’s Level Up Learning curriculum and its innovative new programmes advancing financial literacy. From Mexico, Gerardo Aparicio Yacotú, Director of Financial Literacy at BMV Group, shares how the Bolsa Mexicana School is using digitalisation to expand access to high-quality education across Latin America.

We also highlight pioneering academic and institutional contributions. Professor Giovanni Cespa of Bayes Business School, together with Pierre McIlwee, Client Director and Project Lead, explain how Bayes collaborated with the WFE to design a purpose-built Market Infrastructure Certificate. Professor Christopher P Buttigieg of the University of Malta explores how AMLA can apply proportionality to strike the right balance between crime prevention and competitiveness in the EU.

Beyond the classroom, innovative approaches to financial learning continue to emerge. The Swiss Finance Museum, funded primarily by SIX, is introducing children to money through a storybook adventure narrated by Luna the Poodle. Zhuldyz Jumadilova, Head of Communications at Astana International Exchange (AIX), outlines how the “I’m an Investor” project is inspiring retail investors in Kazakhstan. From Taiwan, Sherman Lin, Chairman & CEO of the Taiwan Stock Exchange (TWSE), highlights how investor education initiatives – from expos to anti-fraud campaigns – are building a more inclusive and resilient foundation.

Finally, WFE Education spotlights the launch of the Emerging & Developing Markets Educational Programme, which will equip participants worldwide with the tools and knowledge to build stronger, more sustainable capital markets.

We hope you enjoy this special edition of Focus, which celebrates the vital role of education and awareness in shaping confident, informed, and long-term investors.