Carbon Inequality: Price Discovery and Market Dynamics in the Voluntary Carbon Market

Published: Dec 2025
Dr Ying Liu, Financial Economist at the WFE, analysed more than 250,000 carbon-credit transactions across 2,200 projects worldwide between 2017 and 2024, using econometric and machine learning methods.

CEO Letter

Published: Dec 2025
Welcome to the December edition of Focus.

In this final issue of 2025, we are pleased to feature President Recep Tayyip Erdoğan’s address to the 64th WFE General Assembly and Annual Meeting, hosted by Borsa Istanbul last month. We also spotlight the ambitious sustainability initiatives of some of our members, as part of the recent Ring the Bell for Climate campaign.

This month’s sustainability focus includes:

Dr. Rasha Dayyat, Director of the Planning and Institutional Development Department, Amman Stock Exchange, on Jordan’s pioneering climate-related disclosure framework and its alignment with ...
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Global delisting trends

Published: Dec 2025
Dr Ying Liu, Financial Economist at the WFE, writes about global delisting trends.
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Clearstream Accelerates the Future of Securities with its Digital Issuance Platform D7

Published: Nov 2025
Jens Hachmeister, Managing Director, Head of Issuer Services & New Digital Markets, Deutsche Börse Group, explains how Clearstream’s D7 platform delivers a fully digital, automated and secure solution for issuing and managing securities.
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Gold Coin: Kazakhstan’s Fintech Bridge Between Trust and Technology

Published: Nov 2025
Assel Mukazhanova, CEO, Astana International Exchange, shares how AIX’s Gold Coin initiative combines trust and technology to make gold investment digital, secure and inclusive.
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BISON by Boerse Stuttgart Group: The Trusted Gateway to Cryptocurrencies

Published: Nov 2025
Dr. Ulli Spankowski, CEO & Co-Founder BISON / CDO Boerse Stuttgart Group, tells us about BISON's exchange-grade governance and intuitive user experience.
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