The WFE General Assembly & Annual Meeting
The General Assembly is the ultimate decision-making body of the World Federation of Exchanges (WFE), responsible for approving policies, including admission and suspension of membership, annual budgets, and election of WFE officers. CEOs and other representatives of member exchanges worldwide attend the annual General Assembly.
The Annual Meeting is an invitation-only event, where leaders of global exchanges, regulatory authorities, industry experts from academia and the media gather together for in-depth discussion on major issues surrounding the exchange industry.
Since its foundation, the WFE has organised committees, meetings, general assemblies, conferences, and workshops for its members to transfer knowledge and share expertise. As an industry trade organisation, the WFE has discussed virtually every aspect of the capital market: the technical, the commercial, the legal and the economic. In the past four decades we have published studies and reports on issues such as CCP recovery & resolution, business continuity, self-regulation, cross border trading, HFT, sustainability, SMEs and cyber security.
About The WFE
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 250 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of our members, 37% are in Asia-Pacific, 43% in EMEA and 20% in the Americas. The WFE’s 87 member CCPs and clearing services collectively ensure that risk takers post some $1.1 trillion (equivalent) of resources to back their positions in the form of initial margin and default fund requirements. WFE exchanges, together with other exchanges feeding into our database, are home to over 49,054 listed companies, and the market capitalisation of these entities is $116.58 trillion. Around $155 trillion (EOB) in trading annually passes through WFE members (at end 2024).
The WFE is the definitive source for exchange-traded statistics and publishes over 350 market data indicators. Its free statistics database stretches back more than 40 years and provides information and insight into developments on global exchanges. The WFE works with standard-setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities’ goals of ensuring the safety and soundness of the global financial system.
With extensive experience of developing and enforcing high standards of conduct, the WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk. We seek outcomes that maximise the common good, consumer confidence and economic growth. And we engage with policy makers and regulators in an open, collaborative way, reflecting the central, public role that exchanges and CCPs play in a globally integrated financial system.
Website: www.world-exchanges.org
X : @TheWFE
About Borsa İstanbul
Borsa İstanbul, with roots dating back to 1873, ensures fair and well-organized trading in equities, debt securities, derivatives, precious metals and diamond markets. Borsa İstanbul is the majority shareholder of Takasbank (Central Counterparty) and Merkezi Kayıt Kuruluşu (Central Securities Depository). These three institutions constitute Borsa İstanbul Group, the sole provider of trading, clearing and settlement services in Turkish capital markets.
With an integrated pre-trade, trade and post-trade infrastructure, cutting-edge technology and diverse product range, Borsa İstanbul Group provides investors with a modern trading platform in line with international standards. The broad selection of derivative products enhances investment flexibility, allowing investors to construct their desired portfolios.
Borsa İstanbul continues to strengthen its global position with strong performance across multiple asset classes, ranking 3rd in the world in equity market turnover velocity, 1st in single stock futures, and 4th in precious metals futures based on number of contracts traded. The Debt Securities Market ranks 2nd worldwide in the number of new domestic corporate bond listings. Borsa İstanbul has substantially increased the number of listed companies to 585 with 192 IPOs raising $9.4 billion capital over the last four years. Total number of active investor accounts reached 15 million of which 6.6 million are equity investors. With an average daily trading value of $2 billion in derivatives, $5 billion in equities, $35 billion in debt securities, and annually 284 tons of gold and 828 tons of silver in precious metals and diamond markets, Borsa İstanbul provides a highly liquid venue for trading.
There are no restrictions on foreign portfolio investors trading in the Turkish capital markets. Real persons and legal entities residing abroad can freely purchase and sell all sorts of securities and other capital market instruments. For most of the products traded at Borsa Istanbul, zero withholding tax is applied and no further declaration is required for foreign investors. Borsa İstanbul is accredited as “Third Country Trading Venue” by European Securities and Markets Authority (ESMA). Türkiye's fast growing economy, liberal investment climate and robust investor protection mechanisms are some of the key factors that make it an attractive destination for investment. Borsa İstanbul Group remains dedicated to provide safe, transparent and reliable markets for all market participants.
Website: www.borsaistanbul.com/en
X: @BorsaIstanbulEN
Speakers
Prof. Dr. Erişah Arıcan
Chair, Borsa İstanbul
Prof. Erişah Arıcan started her academic career as research assistant at Marmara University Economics-Finance Department in 1988. She transferred to Marmara University Banking and Insurance Department in 1990 and with her thesis entitled “The Central Bank and the Auditing of Monetary Volumes”, earned her Ph.D. degree in 1991. She received an associate professor degree on Economic Policy in 1999, and professor degree at Marmara University Banking and Insurance Graduate School in 2015. Arıcan worked as Assistant Director and Board member of Marmara University Banking and Insurance Graduate School between 1998 and 2006, and as Director, between 2006 and 2015. She was appointed as the Director of Marmara University Banking and Insurance Institute in August 2015, and is currently in office. In addition to her role as Marmara University Banking and Insurance Graduate School Banking Department Chairman and Board member she has been carrying out since 2002, Prof. Arıcan assumed the title of Marmara University Banking and Insurance Institute Banking Department Chairman and Board member in September 2015. Prof. Arıcan has numerous studies and books on Turkish economy, economic systems, money-banking, central bank practices, financial markets and organizations. Prof. Dr. Erişah Arıcan was elected as Borsa İstanbul Board Member on April 1, 2016, as Board member of Turkiye Wealth Fund on September 12, 2018. Ms. Arıcan was elected as Chair of the Board at Ordinary General Assembly Meeting on September 27, 2018. She is married with two children.
Korkmaz Ergun
Chief Executive Officer, Borsa Istanbul
Korkmaz Ergun earned his undergraduate degree at Ankara University Faculty of Political Science, Department of Business Administration and started his career at Borsa İstanbul the same year. He completed his masters’ degree and PhD at Marmara University, Faculty of Economics. Having 25 years of Stock Exchange and Capital Markets experience, Ergun has administered the evaluation of the initial public offerings of numerous companies, and the examination and market activities of the companies listed on Borsa İstanbul. Moreover, Ergun is the Deputy Chairman of Takasbank Board of Directors. He is also a Board Member of the World Federation of Exchanges (WFE).
Nandini Sukumar
Chief Executive Officer, The World Federation of Exchanges
Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.
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