London Stock Exchange Group is the most well-known exchange company on the list of new WFE members. LSEG is a diversified international market infrastructure and capital markets business operating a broad range of equity, bond and derivatives markets.
London Stock Exchange Group, Boursa Kuwait, Multi Commodity Exchange of India (MCX), Tunis Stock Exchange, China Securities Depository and Clearing Corporation (CSDC), and Nairobi Securities Exchange, have joined the global industry group for exchanges and CCPs.
Nandini Sukumar, Chief Executive Officer at WFE, said:
“Members are the lifeblood of any trade association, and our new members demonstrate the truly global breadth and multi-asset class depth of today’s WFE. We are proud to represent such a diverse range of organizations, and with full members now standing at 70 – the greatest number in the federation’s 57-year history – our role as the voice of the global market infrastructure industry has never been more important.”
“Moreover, with our ever-growing mandate and membership base, we look forward to championing the causes that matter to our members, focusing on business-critical topics including CCP-related capital issues, sustainability, emerging markets, market integrity, regulatory coherence, SMEs, cyber resilience and FinTech”, Sukumar added.
Boursa Kuwait is a private entity established to manage the Kuwait stock market, while Multi Commodity Exchange of India (MCX) is a commodity derivatives exchange that facilitates online trading, and clearing and settlement of commodity derivatives transactions.
Tunis Stock Exchange is responsible for managing the Tunisian transferrable securities market and China Securities Depository and Clearing Corporation (CSDC) is a securities registration, clearing and settlement business. Nairobi Securities Exchange is an equity and debt securities provider.
In 2018, the WFE and Oliver Wyman have published a joint report that concludes there is a need for $3 to $4 billion in spending to address market integrity. As market infrastructures face increased regulatory demands, enhancements to corporate governance and disclosure to preserve market integrity, the report concludes that the financial markets industry will need to spend up to $3-4 billion over the next five years to realize the agenda, with roughly 40% of this investment being undertaken by MIs.