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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Emerging Markets
From Innovation to Impact: KASE’s Leap Into the Future
Published: Jan 2026
Adil Mukhamejanov, Chairman of the Kazakhstan Stock Exchange, talks about the milestones achieved in 2025 - from digital innovation to international recognition - and offers insights into the opportunities shaping its future development
Features
Qatar Stock Exchange Reviews 2025 and Sets Its Course for 2026
Published: Jan 2026
Abdullah Mohammed Al Ansari, CEO, Qatar Stock Exchange, discusses the key themes and trends for the exchange and market infrastructure in 2026.
CCPs
Climate Future-Proofing: How Exchanges Lead the Way
Published: Jan 2026
Caroline Gentry, Director of Environmental Markets at Nodal Exchange, highlights how environmental markets have established themselves as key tools in the global effort to combat climate change.
Statistics
Green bonds recent trends
Published: Jan 2026
Mihaela Croitoru, Statistics Database Manager at the WFE, writes about trends regarding green bonds.
Emerging Markets
Botswana Stock Exchange at an Inflection Point
Published: Jan 2026
Aobakwe Monyats, CEO of BSE, tells us how structural reforms, growing institutional participation and new market infrastructure are marking a turning point for Botswana’s capital markets.
CEO Letter
CEO Letter
Published: Jan 2026
Welcome to the January edition of Focus.
As we begin the year, this issue brings together reflections from exchange and market infrastructure leaders on the milestones achieved over the past year and the priorities shaping capital markets in the period ahead.
We open with John McKenzie, CEO of TMX Group, who reflects on a year of record market capitalisation, continued post-trade modernisation, and sustained investment in resilient, future-ready capital markets. His contribution highlights how exchanges are balancing growth, innovation, and stability as market demands continue to evolve.
Turning ...
Features
Video Message of H.E. Recep Tayyip Erdoğan, President of the Republic of Türkiye, for the 64th General Assembly and Annual Meeting of World Federation of Exchanges in İstanbul
Published: Dec 2025
In his video message to the 64th General Assembly and Annual Meeting of the WFE, President Recep Tayyip Erdoğan conveyed his best wishes for a successful gathering, hosted by Borsa Istanbul.
ESG
Jordan Leads on Climate-Related Financial Disclosure
Published: Dec 2025
Dr Rasha Dayyat, Director of the Planning and Institutional Development Department at the Amman Stock Exchange, explains how Jordan is strengthening climate-related disclosures by aligning with IFRS and ISSB standards to enhance transparency, resilience and investor confidence across its capital market.
ESG
Local Renewable Markets, Global Impact: The Growing Role of Exchanges in the I-REC Ecosystem
Published: Dec 2025
Russell Karas, Senior Vice President and Head of the Strategic Market Solutions Division at Xpansiv, explores how exchanges are shaping the evolution of International Renewable Energy Certificate (I-REC) markets.