Editor's Pick
Understanding Margin Model Performance: A Factor-Based Approach to CCP Backtesting
Rama Kumanduri, Managing Director, and Shahrzad Karimi, Director, at The OCC explain how a new factor-based, forward-looking approach to CCP backtesting helps identify the true drivers of margin model failures.
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Editors Pick
Understanding Margin Model Performance: A Factor-Based Approach to CCP Backtesting
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Education
Financial Inclusion × Fraud Prevention × Digital Innovation: TWSE’s Efforts in Advancing Financial Literacy
Published: Oct 2025
As the Taiwan Stock Exchange advances financial literacy through innovation, anti-fraud education and global collaboration, it highlights Taiwan’s commitment to inclusive, resilient capital markets.
Education
The World Federation of Exchanges Launches New Educational Programme for Emerging & Developing Markets
Published: Oct 2025
As the World Federation of Exchanges launches its new Emerging & Developing Markets Educational Programme, it underscores the WFE’s commitment to strengthening market infrastructure and building expertise across frontier and developing economies.
CEO Letter
CEO Letter - October 2025
Published: Oct 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 e...
Statistics
Broadening Knowledge, Building Capacity: WFE’s Expanding Education Services
Published: Oct 2025
Dr Pedro Gurrola-Perez, Head of Research at the WFE, writes about broadening knowledge, building capacity: WFE’s expanding education services.
Emerging Markets
Borsa İstanbul Looks Forward to Hosting the 64th WFE General Assembly
Published: Sep 2025
As Borsa İstanbul prepares to host the World Federation of Exchange's General Assembly and Annual Meeting next month, it highlights Türkiye’s growing role in global capital markets.
Cross-border
Driving Market Inclusion and Innovation: CSD Ghana’s Next-Generation Platform Powers Regional Integration
Published: Sep 2025
Joseph Oko Lartey, CEO, Central Securities Depository (GH) Ltd, highlights CSD Ghana’s new platform as a major step forward for innovation, inclusion and regional integration.
Emerging Markets
Latinex at 35: Building a Gateway From Panama to the World
Published: Sep 2025
Olga Cantillo, Executive President, Latinex Group (Bolsa Latinoamericana de Valores and Central Latinoamericana de Valores) tells the story of how Latinex has transformed over 35 years from a local exchange into a global gateway.
Features
Attaining Reliable AI-Driven Decision Systems in FMIs
Published: Sep 2025
Alyona Bulda, Head of Global Exchanges, and Daria Degtiarenko, Senior Marketing Communications Manager at Exactpro, write about testing approaches for AI-driven systems in financial market infrastructures.
ESG
Amplifying Climate Action and the Power of Nature
Published: Sep 2025
Victoria Powell, Senior Manager, Sustainability, and Rona Nairn, Manager, Regulatory Affairs at the WFE, address a pressing question: Is now the right time to prioritise nature alongside climate issues?