Trading volume on swap execution facilities reached $1.37 trillion in average notional value per day during October 2024, the third highest daily average for any month so far. This was down 15.2% from the previous month but up 4.8% from the same month of the previous year. Compared to September 2024, trading was down in every category except for the FRA sector.Trading of interest rate swaps and other non-FRA rates products was $1 trillion per day in October, the third highest level ever recorded. This level was down 15.2% from September 2024 but up 9.7% from October 2023. Tradeweb had the largest share of trading volume with 56.5%. Tullett Prebon had the second highest share with 15.1%.FRA trading reached $227.4 billion in average daily trading in October. This amount of daily trading was up 10.7% from the previous month but down 12.5% from a year ago.Credit default swap trading averaged $55.1 billion per day in October, a decrease of 58.9% from the previous month. Bloomberg’s market share increased to 71.8% and Tradeweb’s share decreased to 19.3%.FX trading on SEFs reached $72.5 billion per day in October, the highest level ever recorded for any October but a decrease of 8.4% from the previous month. Tullett Prebon had the largest share of the trading volume with 25.2%. BGC held the second highest share with 22.1%. Overview: Recent trading activity for interest rate derivatives, credit default derivatives and foreign exchange derivatives on swap execution facilities in the US.Comparison Table: Monthly data on trading activity at each swap execution facility, with separate tables for interest rate derivatives, credit default derivatives, and foreign exchange derivatives.Historical Volume: Monthly volume on SEFs in three asset classes: interest rates, credit and foreign exchange as well as ranking of volume by asset class and ranking of SEFs by volume.Rates Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by currency, volume for each SEF and market share for each SEF.Credit Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by index name, volume for each SEF and market share for each SEF.FX Monthly Volume: Based on trading of foreign exchange derivatives on SEFs in the US, the visualizations include monthly volume, volume ranked by quote currency, volume for each SEF and market share for each SEF. FIA publishes three other data products: the FCM Tracker, which provides insights on the financial condition of futures commission merchants in the US; the CCP Tracker, which provides quarterly data on risk exposures at derivatives clearinghouses; and, a monthly report on exchange-traded derivatives volume and open interest. FIA provides these data products as a service to its members and as part of its mission to promote better understanding of the global derivatives markets. 

The Canadian Investment Regulatory Organization (CIRO) has named Fitch Learning as its new service provider, partnering to assist CIRO’s move towards an assessment-centric proficiency model for Approved Persons of investment dealers. The development of a new and enhanced Proficiency Model has been a multi-year strategic initiative for CIRO that will ensure our registrants meet high proficiency standards that will equip them with the necessary knowledge, skills and behaviours to effectively perform their job. The new model will ensure that these standards are both relevant for today’s evolving financial industry and offer the necessary flexibility to adapt to future changes. Earlier this year, CIRO published a request for comments on proposed amendments to rules to reflect the new proficiency model. These proposed rules are not yet final and subject to approval by the Canadian Securities Administrators. "We’re excited to take the next step in evolving our Proficiency Model,” said Elsa Renzella, Senior Vice-President, Enforcement and Registration. “CIRO is committed to creating an innovative proficiency model based on our competency profiles, to ensuring relevance and responsiveness as the financial industry transforms, and to delivering this model in an efficient and cost-effective way.” Fitch Learning works with businesses and organizations offering professional designations and credentials around the world, specifically helping develop future leaders in the financial services industry. Fitch was selected from a competitive field of proposals for their approach to user experience and breadth of financial industry expertise. Andreas Karaiskos, CEO of Fitch Learning, expressed, “We are delighted to partner with CIRO to deliver critical services and infrastructure that will underpin the regulator’s new proficiency model.” Karaiskos further elaborated, “Our end-to-end solution will facilitate syllabus development, exam delivery, and the creation of educational portals tailored for candidates, firms, and CIRO.” CIRO regulates more than 33,000 Investment Dealer Approved Persons across Canada with assets under administration of over $4 trillion. The Proficiency Initiative includes the development of nine bilingual examinations and corresponding syllabi, the establishment of an exam delivery platform and portals. This new Proficiency Model will be rolled out by January 1, 2026. “As we transition to a new assessment-centric approach, we are grateful to our existing and long-serving education partner the Canadian Securities Institute (CSI), for its many years of collaboration to deliver exceptional education solutions to Canada’s industry,” said Renzella. CIRO is working with the CSI to ensure a smooth transition to the new model. This partnership with Fitch Learning signals CIRO’s commitment to innovation, efficiency, and excellence in setting a new proficiency standard for the Canadian financial services industry.

The Bermuda Stock Exchange (“BSX”) advises that the Exchange will be closed on closed Monday, 11 November 2024, in observance of the Remembrance Day Public Holiday. The BSX will re-open on Tuesday, 12 November 2024.

Euronext today announced trading volumes for October 2024. Monthly and historical volume tables are available at this address: https://euronext.com/investor-relations#monthly-volumes

Guest-of-Honour Senior Minister of State for Digital Development and Information & National Development Tan Kiat How joined in the run, in a show of support for underprivileged children and families, persons with disabilities, as well as the elderly This year’s SGX Cares Bull Charge Charity Run saw an impressive turnout of 4,500 runners, one of its highest in recent years. Flagging off at Marina Barrage, the much-anticipated event featured a new route along Gardens by the Bay East as both competitive runners and casual joggers worked out a sweat for a good cause. With unwavering support from the financial community and enthusiastic participants across corporate partners and sponsors, S$2,258,888 was raised, of which all proceeds would be channelled via Community Chest to SGX Cares beneficiaries – AWWA Ltd, Autism Association (Singapore), Fei Yue Community Services, HSCA Community Services and Shared Services for Charities. SGX Group employees also lent support to the cause by organising various fundraising activities throughout the year, ranging from the popular Ultimate Quiz Challenge, a mouthwatering durian feast, to the classic office raffle.  Guest-of-Honour Senior Minister of State for Digital Development and Information & National Development Tan Kiat How ran alongside CEOs and chiefs of companies in the 3km Chief Challenge. Mr Tan had earlier also participated in the SGX Cares Charity Futsal held in September, as part of the Parliament Team.  Mr Tan said, “I am happy to join 4,500 participants at today’s SGX Cares Bull Charge Charity Run. The funds raised will support many meaningful causes in the community and demonstrate our shared dedication to build a more inclusive and compassionate society.” Loh Boon Chye, Chief Executive Officer, SGX Group, said, “We are incredibly grateful for the overwhelming support and generosity from our community year in, year out. Together, we can make a significant impact on the lives of those in need. Our SGX Cares initiatives not only raise much needed funds for our beneficiaries, but also bring us closer as a community, united by a common goal to uplift and empower those in need. The spirit of giving and solidarity displayed by our participants and supporters is truly inspiring, and we look forward to continuing this tradition in the years to come.” Launched in 2004, SGX Cares is the only corporate charity initiative in Singapore that brings together the financial community and SGX-listed companies to support the needs of underprivileged children and families, persons with disabilities, as well as the elderly. Over S$50 million has been raised over two decades for more than 50 charities and a variety of causes, through the support of corporate sponsors and partners. SGX Cares comprises three pillars – SGX Cares Bull Charge, SGX Cares Outreach and SGX Cares Financial Literacy. In FY2024 (July 2023 to June 2024), SGX Group employees clocked over 3,500 volunteering hours across 23 different outreach activities, reaching out to more than 1,500 individuals in the community. Appendix: Results of SGX Cares Bull Charge Charity Run 2024   Chief Challenge (3km) Top 3 runners 1st place –  Choon Siang Tan from CapitaLand Investment Limited came in at 11 min 42 sec 2nd place – Yan Bin Wu from Summit Power International Limited came in at 12 min 41 sec 3rd place – Geok Wah Siah from Bank of America came in at 13 min 6 sec   Mass Run (5km) Top 3 female runners 1st place – Angela Hu came in at 20 min 33 sec 2nd place – Josephine Tay came in at 21 min 48 sec 3rd place – Maria Ho came in at 21 min 59 sec   Top 3 male runners 1st place – He Yong came in at 17 min  2nd place – Xuan Hou came in at 17 min 46 sec 3rd place – Giebert Foo came in at 18 min 12 sec

A total turnover of 6.468 billion shares worth N75.745 billion in 48,804 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.717 billion shares valued at N54.632 billion that exchanged hands last week in 46,848 deals. Click here for full details.

Click here to download Malawi Stock Exchange's weekly summary.

The Securities and Exchange Commission today charged Invesco Advisers, Inc. for making misleading statements about the percentage of company-wide assets under management that integrated environmental, social, and governance (ESG) factors in investment decisions. The Atlanta-based registered investment adviser agreed to pay a $17.5 million civil penalty to settle the SEC’s charges. According to the SEC’s order, from 2020 to 2022, Invesco told clients and stated in marketing materials that between 70 and 94 percent of its parent company’s assets under management were “ESG integrated.” However, in reality, these percentages included a substantial amount of assets that were held in passive ETFs that did not consider ESG factors in investment decisions. Furthermore, the SEC’s order found that Invesco lacked any written policy defining ESG integration. “As stated in the order, Invesco saw commercial value in claiming that a high percentage of company-wide assets were ESG integrated. But saying it doesn’t make it so,” said Sanjay Wadhwa, Acting Director of the SEC’s Division of Enforcement. “Companies should be straightforward with their clients and investors rather than seeking to capitalize on investing trends and buzzwords.” The order charges Invesco with willfully violating the Investment Advisers Act of 1940. Without admitting or denying the order’s findings, Invesco agreed to cease and desist from violations of the charged provisions, be censured, and pay the aforementioned $17.5 million civil penalty. The SEC’s investigation was conducted by Jonathan T. Menitove of the Asset Management Unit and Richard Rodriguez of the Atlanta Regional Office with assistance from Robert K. Gordon. It was supervised by Ruth Hawley of the San Francisco Regional Office, Stephen E. Donahue of the Atlanta Regional Office, and Andrew Dean and Corey Schuster of the Asset Management Unit.  Resources SEC Order

NYSE Group, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced the 2027 holiday calendar and early closing dates for its cash equity markets: New York Stock Exchange, NYSE American Equities, NYSE Arca Equities, NYSE Chicago and NYSE National, as well as the NYSE American Options, NYSE Arca Options and NYSE Bonds markets. The 2025 and 2026 holiday and early closing dates are also set forth below. HOLIDAY 2025 2026 2027 New Year’s Day Wednesday, January 1 Thursday, January 1 Friday, January 1 Martin Luther King, Jr. Day Monday, January 20 Monday, January 19 Monday, January 18 Washington's Birthday Monday, February 17 Monday, February 16 Monday, February 15 Good Friday Friday, April 18 Friday, April 3 Friday, March 26 Memorial Day Monday, May 26 Monday, May 25 Monday, May 31 Juneteenth NationalIndependence Day Thursday, June 19 Friday, June 19 Friday, June 18 (Juneteenth National Independence Day observed) Independence Day Friday, July 4* Friday, July 3 (Independence Day observed) Monday, July 5 (Independence Day observed) Labor Day Monday, September 1 Monday, September 7 Monday, September 6 Thanksgiving Day Thursday, November 27** Thursday, November 26** Thursday, November 25** Christmas Day Thursday, December 25*** Friday, December 25*** Friday, December 24 (Christmas Day observed) * Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Thursday, July 3, 2025. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 p.m. All times are Eastern Time. ** Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 28, 2025, Friday, November 27, 2026, and Friday, November 26, 2027 (the day after Thanksgiving). Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 p.m. All times are Eastern Time. *** Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Wednesday, December 24, 2025, and Thursday, December 24, 2026. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 p.m. All times are Eastern Time. NYSE Group Markets holidays and hours can be found at: https://www.nyse.com/markets/hours-calendars.

Depositary receipts of X5 Retail Group N.V. (code: FIVE, ISIN: US98387E2054) are excluded from the constituent lists of the MOEX Russia Index (IMOEX, IMOEX2), the RTS Index (RTSI), the MOEX Russia CNY Index (IMOEXCNY) and the MOEX Active Management Index (IMOEXW), the MOEX Consumer Index (MOEXTN) and the RTS Consumer & Retail Index (RTSTN), the MOEX Broad Market Index (MOEXBMI) and the RTS Broad Market Index (RUBMI), MOEX - RSPP Responsibility and Transparency Index (MRRT), MOEX - RSPP Sustainability Vector Index (MRSV) and MOEX-RAEX ESG Balanced Index (MESG) from November 25, 2024. Read more on the Moscow Exchange: https://www.moex.com/n74703

Fixed income-based Relative Value gains, Macro declines as US interest rates rise, geopolitical uncertainty remains HFR releases Special Report: Presidential Politics and Hedge Funds Hedge funds posted declines in October on mixed strategy performance as investors positioned for the US Presidential election and as corporate earnings ranged widely from strong to weak, coupled with the continued escalation of military conflicts in the Middle East and Eastern Europe. The HFRI Fund Weighted Composite Index (FWC)® declined -0.7 percent in October, while the HFRI Asset Weighted Composite Index fell -0.6 percent for the month, according to data released today by HFR. Performance gains of +0.6 percent in the HFRI Relative Value Index were more than offset by declines in the HFRI Macro (Total) Index, which fell -2.0 percent in October. HFR LAUNCHES SPECIAL REPORT: PRESIDENTIAL POLITICS AND HEDGE FUNDS HFR is pleased to present a special research report featuring in-depth quantitative analysis on the performance of hedge funds through the lens of which US political party administration held the office of the president during specific time frames. This unique and insightful special report includes a complete historical comparison of presidential terms since 1990 across many financial, economic and political cycles. The report is available for complimentary download at https://www.hfr.com/product/presidential-politics-and-hedge-fund-performance “This deep dive into hedge fund performance, viewed through the lens of presidential terms and the rising and falling stock of the main political parties, is a valuable tool for anyone looking to understand the historical trends and be as informed as possible as they look towards the future,” said Kenneth J. Heinz, President of HFR. The recently launched HFRI Multi-Manager/Pod Shop Index declined -0.46 percent for the month as managers positioned for election volatility, while the HFR Cryptocurrency Index advanced an estimated +3.5 percent, increasing its YTD return to +21.7 percent through October. Hedge fund performance dispersion contracted in October, as the top decile of the HFRI FWC constituents advanced by an average of +3.8 percent, while the bottom decile fell by an average of -7.3 percent, representing a top/bottom dispersion of 11.1 percent for the month. By comparison, the top/bottom performance dispersion in September was 13.1 percent. In the trailing 12 months ending October 2024, the top decile of FWC constituents gained +49.4 percent, while the bottom decile declined -12.2 percent, representing a top/bottom dispersion of 61.1 percent. Approximately forty-five percent (45%) of hedge funds produced positive performance in October. Fixed income-based, interest rate-sensitive strategies led strategy performance in October, as US interest rates increased and equities declined heading into the early November US Presidential election, with the HFRI Relative Value (Total) Index gaining an estimated +0.6 percent for the month. RVA strategy performance was led by the HFRI RV: FI-Sovereign Index, which advanced +1.0 percent for the month, followed closely by the HFRI RV: FI-Asset Backed Index, which added +0.9 percent, increasing its YTD 2024 return to +8.4 percent. Event-Driven (ED) strategies, which often focus on out-of-favor, deep value equity exposures and speculation on M&A situations, reversed recent monthly gains with a decline in October, as the HFRI Event-Driven (Total) Index fell -0.35 percent. ED sub-strategy declines were led by the HFRI ED: Activist Index, which fell -2.6 percent, though these were partially offset by gains in the HFRI ED: Credit Arbitrage Index, which advanced +3.45 percent, as managers positioned for a building M&A cycle through year-end, resulting from clarity on US presidential election, and improving economic outlook. Equity Hedge (EH) funds, which invest long and short across specialized sub-strategies, also declined in October with the HFRI Equity Hedge (Total) Index falling an estimated -0.7 percent for the month to bring the YTD return to +9.6 percent, which leads all main strategy indices YTD 2024. EH sub-strategy declines were led by the HFRI EH: Quantitative Directional Index, which declined -2.0 percent for the month, though remains the leading area of performance across all sub-strategies with a YTD return of +14.3 percent through October. Macro strategies led declines in October as US interest rates increased and investors positioned for the US Presidential Election, with the HFRI Macro (Total) Index falling -2.0 percent. Macro sub-strategy declines were led by the HFRI Macro: Systematic Diversified Index, which posted a monthly decline of -3.3 percent on weakness in quantitative, systematic, trend-following exposures. Partially offsetting these declines, the HFRI Macro: Discretionary Thematic Index gained +0.15 percent for the month. Liquid Alternative UCITS strategies also declined in October, as the HFRX Absolute Return Index posted a narrow decline of -0.07 percent while the HFRX Global Hedge Fund Index fell -0.66 percent. Strategy declines were led by the HFRX Macro Index, which fell -1.75 percent, while the HFRX Relative Value Index posted a narrow decline of -0.21 percent. “Hedge funds posted mixed strategy performance in October as the US election rose to a dramatic crescendo to begin November, with performance most directly impacted by rising interest rates, corporate earnings reports which ranged widely from strong to weak, and small, broad-based equity market declines. Hedged fixed income-based Relative Value Arbitrage strategies successfully navigated this environment, while directional Equity and Event strategies posted mixed performance,” stated Kenneth J. Heinz, President of HFR. “With clarity on the US election results, investors and managers are actively adjusting exposures to their expectations for priority policy shifts on international trade, manufacturing, immigration, energy, security with these changes resulting in significant impacts for monetary and fiscal policy, supply chains, M&A and geopolitical risk. It is likely that institutional investors seeking to maximize their exposure to these powerful trends and opportunities, while minimizing risk and uncertainty, will increase exposure to hedge funds which have demonstrated both historically and recently through these market cycles, their strategy’s robustness as a mechanism for achieving these portfolio objectives in 2025.”  NOTE: October 2024 index performance figures are estimated as of November 7, 2024   HFR Indices are ESMA registered HFR Global Hedge Fund Industry Report HFRI Monthly Performance Indices - October 2024

We are delighted to announce that the Association of National Numbering Agencies (ANNA) has won ‘Data Provider of the Year’ for the ANNA Service Bureau (ASB) at the Asset Servicing Times Industry Excellence Awards 2024. These awards are dedicated to supporting and recognising talented and dedicated firms, individuals and departments across the financial services industry. They are indpendently adjudicated by The Securities Services Advisory Group (TSSAG), a forum for independent thought leadership and engagement across the securities services and post-trade industry. ANNA is the central membership organisation for global national numbering agencies serving as the identification and registration authority for the International Securities Identification Number (ISIN) and Financial Instrument Short Name (FISN standards), under appointment by the International Organization for Standardization (ISO). ANNA’s remit is to foster data standardisation within the financial industry by upholding ISO principles and promoting identifier codes for financial instruments.The ASB is the global central data hub that collects and enriches global securities identification data, making it available to financial institutions, regulators, investors and other National Numbering Agencies (NNAs). On a daily basis, the ASB receives and consolidates securities identifier data from over 120 individual member NNAs responsible for issuing the ISIN and other identifiers, for over 200 jurisdictions. The ASB is the provider of the most complete and current collection of identifier data available globally. ANNA and the ASB provides this data to NNAs and financial institutions worldwide to support market transparency and the detection of systemic risk. Stephan Dreyer, Managing Director for ANNA, said: “The ASB provides single-point access to consolidated financial instrument identifier data that helps organisations to meet regulatory requirements and the authorities to monitor market risk, and we are delighted to be recognised for this. This year the number of our contributing jurisdictions has continued to broaden, along with the expanding issuance of standards for evolving digital asset markets. It’s therefore a great honour to be recognised for ANNAs ongoing commitment to the development of identifier standards that promote transparency and efficiency in markets globally”. For information about ANNA, its members and activities, please visit anna-web.org. 

The Warsaw Stock Exchange Group generated sales revenue at a high PLN 112.1 million in Q3 2024, a year-on-year increase of 5.7%. The Group’s EBITDA increased by 7.2% year on year to PLN 42.5 million in Q3 2024 and the net profit attributable to the equity holders of the parent entity reached PLN 42.0 million, a year-on-year increase of 5.7%. The growth rate of expenses was lower than the growth rate of revenue for a second consecutive quarter, which improved the profit margins. The Group’s expenses increased by only 3.9% year on year in Q3 2024. PLN 250.4 billion – record-high EOB turnover value in Q1-3 2024 (27.8% YoY) PLN 1.32 billion - average daily equity turnover value in Q1-3 2024 (27.1% YoY) PLN 351.1 million – GPW Group sales revenue in Q1-3 2024 (6.7% YoY) PLN 121.8 million - EBITDA in Q1-3 2024 adjusted for a one-off [1] (2.8% YoY) PLN 114.7 million - net profit in Q1-3 2024 adjusted for a one-off (3.1% YoY) Growing turnover and liquidity The Warsaw Stock Exchange maintained its position among the top European markets in Q3 2024. According to the Federation of European Securities Exchanges (FESE), GPW reported EOB equity turnover growth of 35% year on year, one of the best results in Europe. GPW ranked second among European exchanges by velocity with a ratio of 37.2%. GPW Main Market EOB turnover reached PLN 79.3 billion in Q3 2024, a 29% increase year on year. The average daily EOB equity turnover value was PLN 1.22 billion, an increase of 27% year on year. Investors remained very active in October, when average daily GPW Main Market equity turnover value was PLN 1.25 billion. GPW Main Market EOB equity turnover value reached a record high of PLN 250.4 billion in January-September 2024, an increase of 27.8% year on year, representing the best first nine months of the year in the history of the Warsaw Stock Exchange. “The growing turnover and high liquidity in Q3 confirm that the Warsaw Stock Exchange is an important capital market in Europe. Our performance is the result of the strong equity market and improving cost control. A highlight of recent weeks was the new listing of the Żabka Group: the fourth largest IPO in the history of GPW and the fourth largest IPO in Europe this year. We expect that this new listing will encourage other companies to be floated on the stock exchange in Warsaw, and that another significant IPO will take place later this year,” said Tomasz Bardziłowski, President of the Management Board of the Warsaw Stock Exchange. Record-high revenue The Warsaw Stock Exchange Group’s revenue reached a record-high level of PLN 351.1 million in Q1-3 2024, a year-on-year increase of 6.7%. The GPW Group’s EBITDA was PLN 116.0 million in Q1-3 2024, down 2.1% year on year. Net profit attributable to the equity holders of the parent entity reached PLN 108.9 million in Q1-3 2024, down 2.2% year on year. EBITDA adjusted for a one-off event increased by 2.8% year on year to PLN 121.8 million in Q1-3 2024, and net profit attributable to the equity holders of the parent entity adjusted for the one-off increased by 3.1% to PLN 114.7 million. In Q3 2024 alone, the GPW Group’s revenue amounted to PLN 112.1 million, an increase of 5.7% year on year. Revenue from the financial market increased by 9.3% year on year to PLN 71.8 million, while revenue from the commodity market increased by 1.6% year on year to PLN 36.2 million. Revenue from information services on the financial and commodity markets increased by 13.9% to PLN 16.7 million. The Group’s operating expenses grew at a lower rate than revenue for a second consecutive quarter. Expenses increased by 3.9% year on year to PLN 77.5 million in Q3 2024. The reduced growth rate of expenses was the result of strict control over external service charges. The GPW Group’s EBITDA amounted to PLN 42.5 million in Q3 2024, an increase of 7.2% year on year. Net profit attributable to the equity holders of the parent entity increased by 5.7% year on year to PLN 42.0 million in Q3 2024. “We are proud of the performance of the GPW Group in Q3. The solid growth of revenue is a result of favourable conditions on the domestic equity market and growing sales of information services, combined with stable revenue in the commodity segment and continued control over expenses. The growth rate of expenses remained below the growth rate of revenue for the second quarter in a row, which improves our profit margins,” said Marcin Rulnicki, Member of the Management Board of the Warsaw Stock Exchange. Product development The Warsaw Stock Exchange is consistently expanding its range of financial instruments to better address the diverse needs of investors. Tracker structured certificates based on the EURO STOXX 50 Net Return and STOXX Europe 600 Oil & Gas Net Return stock indices were newly listed on the Warsaw Stock Exchange in Q3 2024. Tracker certificates are investment products which track and replicate the behaviour of the underlying at a ratio of 1:1. These instruments are dedicated primarily to investors with a long investment horizon. Nine new stocks from the New York stock exchanges Nasdaq and NYSE have been listed on GlobalConnect since July, including Alphabet, Amazon, Apple, JP Morgan Chase, Meta Platforms, Microsoft, Netflix, Nvidia, and Visa. GlobalConnect currently lists 25 stocks, including 10 US stocks. Foreign stocks are traded on GPW in Polish zloty. In July, GPW Benchmark started to publish three new stock market indices: WIGind, WIGmed, and WIG.MS-ECM. WIGind (WIGindustry) includes industrial companies other than energy and mining companies. WIGmed (WIGmedicine) includes medical operators, such as hospitals, clinics, manufacturers of drugs, medical equipment and supplies, and biotechnology companies. WIGind and WIGmed, together with the existing WIGtechTR, form a sub-family of cross-sector indices. The family of macro-sector indices, which includes WIG.MS-BAS, WIG.MS-FIN, and WIG.GAMES5, expanded in July with the new index WIG.MS-ECM. WIG.MS-ECM includes five of the most liquid e-commerce stocks: Allegro, Asbis, Dino, Eurocash, and Pepco. August 2024 was a record-breaking month in the history of ETFs listed on the Warsaw Stock Exchange. The ETF turnover value reached an all-time high of PLN 167 million. Two new ETFs have been available on GPW since September: BETA ETF Nasdaq-100 3x lev and BETA ETF Nasdaq-100 2x short. These are leveraged instruments dedicated primarily to active investors. GPW WATS budget update The Exchange Management Board decided to update the GPW WATS budget. The planned budget for the production of WATS version V1 supporting the GPW and BondSpot markets is now PLN 133.9 million. The production of version V2 for the BondSpot All2All market by the end of 2025 and the analysis of version V3 for derivatives trade in H2 2025 are currently valued at PLN 19 million. “The updated budget will ensure the completion of the production process and the implementation of the system in accordance with the precise, detailed terms of reference. It also covers the design and production, on the basis of WATS, of a new platform for the BondSpot All2All market, whose framework is currently being discussed, and the start of the analysis of version V3. Updating the budget at the final stage of the project allows for very precise planning of the necessary capital expenditure,” said Sławomir Panasiuk, Vice-President of the Management Board of the Warsaw Stock Exchange. The scheduled date for the production launch of the new system is 10 November 2025. The decision was taken by the GPW Management Board in July on the recommendation of the GPW WATS Implementation Committee, which plays a key role in overseeing and coordinating all aspects of the implementation of the new system. 15 years of Catalyst Catalyst, the specialised market for corporate, municipal, and government bonds, celebrated its 15th anniversary in September 2024. Since its launch in 2009, Catalyst has become a key platform for Polish companies and local governments, enabling them to raise capital, while it offers investors a wide range of debt instruments. Catalyst now lists 693 series of bonds denominated in PLN issued by 137 entities and 44 series of bonds in EUR issued by 16 entities. The total value of bonds listed on Catalyst exceeds PLN 1.3 trillion. In September, KGHM introduced its debt instruments on Catalyst. The PLN 1 billion series C bond issue was one of the largest corporate bond issues introduced on Catalyst in recent years. Appointment of the Issuer Council In September, the Warsaw Stock Exchange appointed the Issuer Council, a platform for dialogue between issuers, investors, and regulators. Its mission is to improve market efficiency and to promote long-term development strategies of Polish companies by sharing knowledge and experience with the Exchange’s governing bodies. The Council’s activities focus on three key areas: improving transparency, promoting the capital market, and building investor confidence. The Council will actively initiate changes to support the development and stability of the market, and its members will be ambassadors of these positive efforts, shaping the future of the capital market in Poland. Promotion of investor education The Parkiet Challenge competition co-organised by GPW and the newspaper Gazeta Giełdy i Inwestorów Parkiet has made a comeback to the Warsaw trading floor. The sixth edition of the competition is a unique opportunity for all those who want to improve their knowledge of the Warsaw Stock Exchange and test their investment skills. The Parkiet Challenge offers a chance to gain hands-on experience in the world of investing, using virtual money and based on genuine market valuations. The main part of the competition will last until 22 November and the grand finale will be held on 4 December at GPW’s headquarters. Dozens of thousands of participants have taken part in previous editions of the competition. The first-ever summer investment competition in the history of the Warsaw Stock Exchange, “Holidays on the Stock Exchange”, organised in cooperation with the editors of Bankier.pl, attracted a record number of participants. More than 6,000 people took part in the competition, concluding almost 100,000 virtual transactions worth nearly PLN 108 million. In October, the GPW Foundation opened registration for the 23rd edition of the Online School Exchange Game (SIGG) addressed to students of secondary schools and senior grades of primary schools. This educational project aims to educate young people in the capital markets, spark interest in the stock exchange and, above all, in opportunities for investment and long-term savings. The SIGG enables young people to learn about investing in a practical way, providing a valuable addition to Business and Management classes. More than 25,000 school students and over 1,200 teachers have registered to participate in this year’s SIGG. Registration for the 23rd edition of the Online School Exchange Game is open until 11 November. [1] Impairment of intangible assets at PLN 5.8 million in relation to GRC (Governance, Risk, Compliance) software recognised in H1 2024

Singapore Exchange (SGX Group) today released its market statistics for October 2024. Derivatives daily average volume (DAV) rose to an all-time high, boosted by increased trading activity across multiple asset classes through China’s Golden Week holiday. The Singapore stock market showed its resilience against a backdrop of softer regional growth. Key highlights:                                     Record derivatives DAV: Derivatives DAV surged 48% year-on-year (y-o-y) in October to a record 1.58 million contracts, while total traded volume climbed 52% y-o-y to 31.3 million contracts. Gains were broad-based, with equity index futures volume up 61% y-o-y at 19.9 million contracts, foreign exchange (FX) futures volume up 63% y-o-y at 5.32 million contracts and commodity derivatives volume up 25% y-o-y at 5.58 million contracts, demonstrating the strength of SGX Group’s multi-asset offering. Record China A50 index futures activity through Golden Week: The volume of SGX FTSE China A50 Index Futures – the world’s most liquid international futures for Chinese equities – rose to an all-time high of 14.9 million contracts in October, with DAV at a record 827,997 contracts. Open interest reached a single-day record of 1.26 million contracts on 8 October. There was also heightened activity during the overnight T+1 sessions, as global investors managed their China exposures before the cash market’s reopening. Commodities volume growth: Stronger demand to manage and navigate China risk also drove commodity trading activity in October. The volume of SGX SICOM rubber derivatives, the global pricing benchmark for natural rubber, increased 64% y-o-y to 423,666 contracts amid heightened volatility, marked by a growing base of market participants. With China's markets closed during the first five trading days of the month, market participants continued to access SGX Commodities with DAV of bellwether iron ore derivatives reaching 102,131 lots while DAV of SICOM rubber derivatives climbed to 15,139 lots – a record for Golden Week. Growth in FX futures hedging: Total FX futures traded volume gained 53% y-o-y in October to a notional US$362.7 billion as U.S. Treasury bond yields climbed, setting the stage for November’s elections and Federal Reserve meeting. SGX USD/CNH FX Futures were a standout, with volumes up 50% y-o-y at 3.11 million contracts (notional US$311.5 billion), fuelled by China’s measures to bolster economic stability following stimulus efforts in September. SGX INR/USD FX Futures volume increased 76% y-o-y to 1.75 million contracts. DAV of SGX KRW/USD FX Futures climbed 150% y-o-y to a record US$361 million notional, with open interest up 400% y-o-y at US$745 million. Singapore stock market remains flight-to-quality venue: Securities market turnover value rose 36% y-o-y in October to S$26.9 billion, with securities daily value (SDAV) also up 36% y-o-y at S$1.22 billion. The benchmark Straits Times Index (STI) moved within a narrow 90-point range during the month to 3,558.88, taking its year-to-date gains to 9.8%. Retail investors net bought S$210 million of cash equities in October, reversing outflows from the previous month, while institutional outflows were moderate compared with ASEAN venues, underscoring the Singapore market’s resilience. On 16 October, SGX Securities welcomed Food Innovators Holdings Limited, which is engaged in the restaurant leasing and subleasing business, to Catalist. New securities product launches: SGX Securities listed new daily leverage certificates (DLC) linked to the U.S. Magnificent Seven stocks in October, with structured certificates planned for the coming months that will further expand its suite of structured products. For the month, the market turnover value of DLCs doubled month-on-month (m-o-m) to S$382 million, while turnover of structured warrants increased 123% m-o-m to S$512 million, bringing the total to the highest since March 2022. On 30 October, SGX Securities broadened its offering of Singapore Depository Receipts with the launch of five new contracts with Hong Kong underlyings. The full market statistics report can be found here.  

SGX Securities is pleased to welcome Attika Group Ltd under the stock code “53W”. Attika Group Ltd is a full service commercial interior decoration and mechanical, electrical and plumbing (MEP) engineering company, offering a one-stop solution to their customers from design, production, building and project management, to servicing and maintenance for their interior fit-out needs.   Steven Tan, Managing Director and Executive Chairman, Attika Group Ltd, said, “This listing marks a new chapter in our journey to reach new heights within the interior fit-out industry. As we forge ahead, we remain focused on our mission of transforming interiors into vibrant and sustainable spaces for living, working and leisure – driven by skilled professionals and an unwavering commitment to quality.”  Koh Jin Hoe, Head of Capital Markets, Global Sales and Origination, SGX Group, said, “Today’s listing marks a momentous milestone in Attika Group Ltd’s growth journey. We are pleased to provide a platform for homegrown companies to tap the capital markets as they take their businesses to the next level. This achievement strengthens Attika Group Ltd’s position and opens doors to new opportunities in Singapore and beyond.” Attika Group Ltd joins our vibrant ecosystem of more than 200 Catalist-listed companies, with a combined market capitalisation of about S$7.8 billion.  Attika Group Ltd opened at S$0.21 today.

Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today announced that it will be participating in the upcoming Wolfe Research Wealth Symposium on Wednesday, November 13, 2024. Robinhood Chief Financial Officer Jason Warnick is scheduled to present on Wednesday, November 13, 2024, at 11:45 AM ET / 8:45 AM PT. Interested parties may access a live audio webcast of the presentation by visiting investors.robinhood.com. Following the presentation, a recording will be available for replay for at least 90 days on the same website.

Interest rate derivative trading will cease at 1:30 p.m. today, November 8, 2024. Furthermore, the interest rate derivative market will be closed on November 11, 2024.

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, announced today that Warren Gardiner, CFO, will present at the J.P. Morgan Ultimate Services Investor Conference. The presentation will take place on Thursday, November 14 at 10:10 a.m. ET. The presentation will be available live and in replay via webcast and can be accessed in the investor relations and media section of ICE’s website at http://ir.theice.com.

Key points ASIC is committed to making our financial system fair and safe for all Australians. Our strategic priorities reflect emerging issues in our operating environment that put consumers, investors, and the financial system at greatest risk. All regulators face difficult choices about which problems to prioritise. Good afternoon. Let me begin by acknowledging the Traditional Owners of the land on which we meet today, the Gadigal people of the Eora nation, and paying my respects to Elders past and present. I’d like to thank FINSIA for the opportunity to be here today to discuss ASIC’s strategic priorities. We recognise the important role that you play in working to enhance the professionalism of Australia’s financial services sector. I would also like to recognise my fellow regulators speaking today. One of the things that has struck me since joining ASIC is the amount of effort we all put into ensuring that our work is aligned where appropriate. I think Australians – and New Zealanders for that matter – can feel confident that we are working together to solve the big problems in our financial system. I’m going to spend the next few minutes talking about problems, because in one sense, one of the key challenges we all face as regulators is choosing which problems to prioritise in our work. As Australia’s integrated corporate, markets, financial services, and consumer credit regulator, we cover a lot of ground at ASIC, so perhaps unsurprisingly, there’s no shortage of problems that come across our desks. Problems are, however, an opportunity for change and improvement – and that’s why they play a key role in our process of setting strategic priorities. How we prioritise In identifying the most important problems for ASIC to focus on – those that that put consumers, investors, and the financial system at greatest risk – we start with the data. We analyse all the complaints, intelligence, and reports that come through to us – including more than 11,000 reports of misconduct that we finalised from the public last financial year[1]. But just as importantly, we talk to other regulators – including the ones you’ll hear from today – as well as industry bodies, consumer advocates, and experts involved in our various consultative panels. We then consider this intelligence against the key trends in our regulatory environment. The problems we’re seeing So, what are some of the key trends we’re looking at? The first is the financial pressure that many Australians have faced in recent years. Higher inflation, higher interest rates, and higher rental prices have strained household budgets. While there are signs that some of these pressures may be easing[2], many Australians have been doing it tough - and when they have asked for help, they have not always been heard. Complaints to AFCA are at a record high[3], including complaints about financial hardship assistance. Our own surveillance into home lenders’ responses to people in financial hardship found some lenders’ processes were so difficult that one in three Australians dropped out at least once[4]. We are also conscious that some people see this economic environment as a business opportunity, so we are particularly interested in the emergence of business models that seek to avoid consumer credit laws, or purport to help people to manage their debts. On top of this, we’re also seeing the effects of climate change across our financial system. Around eight in 10 Australians have experienced a natural disaster since 2019[5], and according to the Actuaries Institute, 1.6 million households are now experiencing insurance affordability stress[6] – where insurance premiums cost more than four weeks’ of gross household income. As we face more frequent and more severe extreme weather events, the high number of Australians making insurance claims has already exposed cracks in the system - as our recent work on claims handling shows[7]. Insurers increasingly need to be ready to respond to spikes in claims as business as usual – rather than treating them as extraordinary events. Meanwhile, new technologies are changing the ways in which consumers navigate financial services markets. Artificial intelligence use is accelerating, and changes in payments technology mean that money moves through – and sometimes out of – our financial system much more rapidly. These developments create both opportunities and risks for consumers. For example, scammers used technology to steal $2.7 billion from Australians last year[8]. While we have made a significant dent in this through the National Anti-Scam Centre, and ASIC’s work to take down investment scam websites, the international criminal groups that are behind the most serious scam activity continue to find new ways to rip off Australians, including by washing funds through cryptocurrency exchanges[9]. How we’re tackling them What this creates is an environment where consumers are at an increased risk of poor outcomes. In response, we have developed five strategic priorities for 2024-25: To improve consumer outcomes – which includes our work on financial hardship and credit issues To address financial system climate change risk – which includes our continued interest in how insurers are handling claims after major events To pursue better retirement outcomes and member services – which is not limited to our work on member services in super; it also includes work on models of financial advice that result in erosion of superannuation To advance digital and data resilience and safety – which includes our work on the use of AI by licensees and disruption of investment scams, and To drive consistency and transparency across markets and products – which includes the work we are doing to understand changes in public and private markets. I hope to get an opportunity to speak in more depth about some of the actions we are taking under these priorities in our panel discussion later, but I would note that it’s no accident that improving consumer outcomes is first and foremost among them. Consumer protection is in our DNA at ASIC, and we are committed to making our financial system fair and safe for all Australians. That’s not only reflected in our forward-looking strategic priorities – it’s also reflected in our strong track record of enforcement outcomes in recent years. And I hope that focus strikes a chord with many in the room today, because high standards of professional practice are surely ultimately about producing good outcomes for your customers.   [1] ASIC Annual Report 2023-24 [2] Consumer Price Index, Australia, September Quarter 2024 | Australian Bureau of Statistics [3] AFCA Annual Review shows record complaints, signs of downturn in scams | Australian Financial Complaints Authority (AFCA) [4] REP 783 Hardship, hard to get help: Lenders fall short in financial hardship support [5] Survey results: National study of the impact of climate-fuelled disasters on the mental health of Australians | Climate Council [6] Home Insurance Affordability and Home Loans at Risk | Actuaries Institute [7] REP 768 Navigating the storm: ASIC's review of home insurance claims [8] Scam losses decline, but more work to do as Australians lose $2.7 billion | ACCC [9] Half of all scam funds flow to cryptocurrency | AFCX

Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low. Inflation has made progress toward the Committee's 2 percent objective but remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent. In considering additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Michael S. Barr; Raphael W. Bostic; Michelle W. Bowman; Lisa D. Cook; Mary C. Daly; Beth M. Hammack; Philip N. Jefferson; Adriana D. Kugler; and Christopher J. Waller. Implementation Note issued November 7, 2024