A Transformative Journey: My Experience in the WFE Market Infrastructure Certificate Programme

Published: Feb 2026
Jaime Swartz, Director of Derivatives Market Structure at Cboe Global Markets, reflects on her experience of the WFE Market Infrastructure Certificate Programme, exploring how the global classroom, blended learning model and industry immersion deepened her understanding of market infrastructure and reshaped how she approaches the interconnected challenges of modern capital markets.

Variation of IPO seasonal patterns across regions

Published: Feb 2026
Dr Pedro Gurrola-Perez, Head of Research at the WFE, writes about the variation of IPO seasonal patterns across regions.

CEO Letter

Published: Feb 2026

Welcome to the February edition of Focus.

This month’s issue brings together perspectives from exchange and market infrastructure leaders on strategic progress, market evolution and the priorities shaping capital markets in the year ahead.

We open with Bjorn Sibbern, CEO of SIX, who reflects on a year of strategic progress and outlines the group’s priorities for 2026, as SIX works to build a more connected and interoperable European market.

From North America, Craig Donohue, CEO of Cboe Global Markets, discusses Cboe’s strategic realignment following his appointment in 2025, reflecting on a year ...

Building Resilient Markets: TMX Group on Growth, Modernisation and What Comes Next

Published: Jan 2026
John McKenzie, CEO of TMX Group, reflects on the milestones that shaped the organisation’s performance in 2025, from record market capitalisation and post-trade modernisation to global expansion, and shares his outlook on strengthening resilient, future-ready capital markets in the year ahead.

Navigating uncertainty: Volume, efficiency, and the future of market infrastructure

Published: Jan 2026
Terry Duffy, Chairman and CEO of CME Group, reflects on a year marked by heightened volatility and record trading activity, and outlines how efficiency, innovation, and market infrastructure are shaping the exchange’s priorities as it looks ahead to 2026.

DTCC Looks Forward to 2026 and Reflects on its Success in 2025

Published: Jan 2026
Frank La Salla, President, CEO and Director of DTCC, discusses recent developments in market infrastructure and outlines the issues shaping the organisation’s priorities for the year ahead.
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