Dr. Christopher P. Buttigieg
Features

European Supranational Financial Supervision: A System Forged in Crisis

Published: May 2023
International and Regional Regulatory Institutions (IRIs) have, throughout history, been created and reshaped by crises. This article argues that this phenomenon can be explained through rational choice neo-institutionalism, which argues that crises shift policy equilibrium and allow for greater political will towards solving the root causes of the crisis.
Nicholas Godec + Srichandra Masabathula
Features

Fixed Income Tradable Ecosystem: North American and European Credit Markets

Published: May 2023
Fixed income indices have helped standardize the bond markets, taking this largely over-the-counter market and creating defined units. Fixed income tradable indices take this one step further by offering market participants strategies that may be used as the basis for tradeable products.
Tang Rui
Features

SZSE's efforts to build a sustainable exchange:Guiding Innovative Capital to Low-Carbon Industries

Published: May 2023
To promote sustainable economic and social development calls for joint efforts from all parties, SZSE looks forward to deepening exchanges and cooperation with global market participants, upholding green development, bearing in mind our social responsibility, promoting global governance, and contributing to the building of a community with a shared future for mankind.
Features

Securitised derivatives

Published: May 2023
Mihaela Croitoru, Database Manager at the WFE, writes about securitised derivatives trends on the world's stock exchanges.
Magnus Haglind
Features

Post-Trade Modernization Requires Firms to Think Differently

Published: Apr 2023
For decades financial markets have demonstrated their ability to serve as powerful engines for economic growth. As financial institutions increasingly adopt transformational technology, it will unleash the power of markets to drive efficiencies, bring new assets classes online and ultimately create a more inclusive and prosperous future.
Summer K. Mersinger
Features

What a Year It Has Been

Published: Apr 2023
CFTC Commissioner Summer K. Mersinger discusses her first year as a commissioner and all of its challenges.
Pedro Gurrola-Perez
CEO Letter

CEO Letter-April 2023

Published: Apr 2023

Welcome to the April issue of WFE Focus.

In this month’s edition, we bring you some of the highlights from our CCP & Derivatives Conference, WFE Clear, which was hosted by the Johannesburg Stock Exchange and its clearinghouse, JSE Clear, at the end of March.

The conference was a remarkable success, with academics, policy makers and industry participants engaging in deep and insightful conversations around a wide range of topics in clearing, ranging from the impact of technological innovation to the role of clearing within the real economy.

I was particularly impressed by the exceptional qualit...

Phuthuma Nhleko
Features

The Role CCP Clearing Will Play in Developing Markets in Africa and Elsewhere

Published: Apr 2023
The establishment of CCPs in emerging markets has been found to improve market liquidity, boost transparency, reduce volatility, manage risk and fundamentally increase trust amongst the many stakeholders by a factor of up to 20%. The concomitant benefit to emerging economies has been an exponential growth in foreign investment. Perhaps the biggest benefit of all is the increasing integration of emerging markets into global financial markets.
David Murphy
Features

Three Questions for Financial Market Infrastructures in the Shadow of FTX

Published: Apr 2023
David Murphy, Visiting Professor at London School of Economics' Department of Law, considers what is next for financial market infrastructures after the collapse of FTX.