Drivers of Exchange Sustainability Development: Evidence From a Decade of Surveys

Published: Sep 2025
Dr Ying Liu, Economist, and Dr Kaitao Lin, Senior Financial Economist, at the WFE, explore the economic, institutional, social and cultural factors that have shaped how exchanges around the world have engaged with ESG over the past decade.

Incentivise Investment: Tax Policy for Market Participation and Economic Expansion

Published: Sep 2025
James Auliffe, Senior Manager, Regulatory Affairs at the WFE, sets out policy recommendations on how well-calibrated tax regimes can support investment, strengthen capital formation, and enhance the role of capital markets in driving sustainable economic growth.

CEO Letter - September 2025

Published: Sep 2025

Welcome to the September 2025 issue of WFE Focus.

Our featured article this month comes from Borsa İstanbul, host of the WFE’s 64th General Assembly and Annual Meeting. The exchange highlights Türkiye’s growing role in global capital markets and extends a warm welcome to all delegates, as we look forward to gathering in Istanbul on 21–23 October.

Our Editor’s Pick is by Olga Cantillo, Executive President of Latinex Group, who reflects on Latinex’s 35-year journey from Panama’s local exchange to a global gateway.

Joseph Oko Lartey, CEO of Central Securities Depository (GH) Ltd, presents CSD Ghana’

Measuring IPO Admission Rules: The Listing Stringency Index

Published: Sep 2025
Dr. Ishak Demir, Economist at the WFE, writes about measuring IPO admission rules: the listing stringency index.

New Leadership at Bursa Malaysia: Strategic Continuity, Enhanced Execution

Published: Aug 2025
In this Q&A, Dato’ Fad’l, CEO of Bursa Malaysia, outlines his vision for the exchange as an inclusive, multi-asset platform that serves the needs of issuers and investors while supporting Malaysia’s development goals.

Electricity Derivatives: A Milestone for India’s Power Market

Published: Aug 2025
Dr. Harish Ahuja, Head of Product & Strategy Development (Power & Carbon Markets), and Gaurav Yadav, Deputy Manager at NSE, explain how a futures market can enable a more stable environment for Indian businesses.
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