For the first time, Robinhood customers will have access to index options, expanding their trading capabilities on its platform Cboe's index options – S&P 500 Index, Cboe Volatility Index, Russell 2000 Index, and Mini S&P 500 Index options – soon available to Robinhood customers on its platform Launch taps into rising investor demand for options trading, market data and education Cboe Global Markets (Cboe: CBOE), the world's leading derivatives and securities exchange network, and Robinhood Markets Inc. today announced at the HOOD Summit in Miami, Florida, Robinhood's upcoming launch of Cboe's index options on its platform.  For the first time, Robinhood customers will soon be able to trade index options – including Cboe's flagship S&P 500 Index (SPX) options, Cboe Volatility Index (VIX) options, Russell 2000 Index (RUT) options and Mini SPX (XSP) options – expanding their trading capabilities on its platform. Cboe's proprietary suite of index options will provide Robinhood's customers potential new ways to gain broad U.S. market exposure, hedge against U.S. large-cap and U.S. small-cap equity market volatility, generate income and capitalize on market movements1 on Robinhood's platform. Index options offer the benefits of cash-settlement (accounts are debited or credited in cash; there is no physical transfer of shares) and European-style exercise (options expire on their expiration date; there is no risk of early assignment). "The rise of the retail investor is one of the greatest forces reshaping financial markets today," said Dave Howson, Global President at Cboe Global Markets. "Retail traders have expanded their financial knowledge and trading experience in recent years to become much more sophisticated, and now, they are seeking new opportunities to further elevate their trading strategies. Cboe's proprietary index options are among some of the world's most popular, liquid and actively traded options products, which we believe will be a welcome addition to the retail trader's toolkit. Cboe's index options have long been used by institutional investors to manage risk and build wealth. Now, with Robinhood offering index options to its growing user base, we are excited even more investors may access the utility of our products." Robinhood makes Cboe Global Indices Feed, which provides real-time index values for products like SPX, VIX and RUT options, available to its customers. The feed may offer additional data to support customers when making their own trading decisions. "Robinhood continues to deliver innovative and intuitive trading solutions that empower retail investors, and our collaboration with Cboe aligns perfectly with that mission," said Steve Quirk, Chief Brokerage Officer at Robinhood. "As our customers have grown, they have asked us for access to more advanced assets including index options, which allow them to diversify their portfolio and better manage risk. Adding index options to Robinhood is a natural extension of our product offering and has been one of the most requested asset classes by our customers. This will be another powerful tool to help them navigate their financial future." Demand for options trading has risen among both retail and institutional investors who may be seeking tools to manage risk and capture market opportunities. In 2023, total U.S. options volumes exceeded 11 billion contracts, marking the fourth consecutive year of record volumes and a 126% increase since 20192. Average daily volumes this year through third-quarter 20243 was 47 million contracts, an 8% increase compared to the same period last year. Cboe's proprietary product suite has similarly seen increasing investor participation, with average daily volumes reaching a record high of 4.2 million contracts during third-quarter 2024, up 13% from third-quarter 2023. In response to growing investor demand, Cboe's Options Institute, a leader in options education for more than 35 years, has expanded its offerings to include free online courses, webinars, interactive tutorials and insights from top market experts and academics, all tailored to help retail traders – whether beginners or seasoned investors – enhance their understanding of index options and build the knowledge they need to trade with confidence. "As we move through 2024, one theme is clear: the need for robust risk management tools has never been greater and we see both institutional and retail participants, domestic and international, increasingly turning to options," said Catherine Clay, Global Head of Derivatives at Cboe Global Markets. "We see that investors are trading options with both longer and shorter durations and utilizing various strategies – whether hedging event risk, systematically selling call and put spreads to generate income, or trading options within a shorter time horizon to capture intraday moves. The U.S. options market has never been more vibrant and robust, and, as the options industry leader, Cboe remains committed to providing all investors access to this deep and growing liquidity pool." For more information on Cboe's proprietary index options and educational offerings, visit: https://go.cboe.com/youhaveoptions. 

The Securities and Exchange Commission today announced that RTX Corporation, a Virginia-based aerospace and defense company, agreed to pay more than $124 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) in connection with payments made to assist in obtaining contracts with the Qatari military. RTX, which was named Raytheon Technologies Corp. until 2023, was formed after the 2020 merger of Raytheon Company and United Technologies Corp. (collectively, Raytheon). According to the SEC’s order, Raytheon used sham subcontracts with a supplier to pay bribes of nearly $2 million to Qatari military and other officials from 2011 to 2017 to obtain Qatari military defense contracts. Additionally, the order finds that from the early 2000s into 2020, Raytheon paid more than $30 million to a Qatari agent who was a relative of the Qatari Emir and who, despite being retained as Raytheon’s representative in Qatar, had no prior background in military defense contracting. Raytheon obtained additional defense contracts through the agent under circumstances with significant corruption risks. The order finds that Raytheon continued working with the agent even after numerous Raytheon employees raised concerns about risks of corruption and despite a lack of adequate documentation of the agent’s services. "The penalty in this case reflects the significant misconduct by Raytheon and the need for global companies to implement meaningful internal accounting controls that ensure that payments to intermediaries are not used to circumvent the restrictions of the FCPA,” said Charles E. Cain, Chief of the SEC Enforcement Division’s FCPA Unit.  The SEC’s order finds that Raytheon violated the antibribery, internal accounting controls, and books and records provisions of the FCPA. Raytheon consented to the entry of the SEC’s order requiring it to cease and desist from committing or causing any future violations and to pay disgorgement and prejudgment interest of approximately $49 million and a civil penalty of $75 million, $22.5 million of which will be offset by a criminal fine in a parallel criminal action. As part of the resolution, Raytheon must retain an independent compliance monitor for three years.  The SEC’s investigation was conducted by Irene Gutierrez, Ilana Z. Sultan, Eric Heining, Sonali Singh, and Tracy L. Price of the SEC’s FCPA Unit.  Resources SEC Order

ETFGI, a prominent independent research and consultancy firm specializing in providing subscription research on trends in the global ETFs industry, reported today assets invested in the ETFs industry in the United States reached a new record high of US$10 trillion at the end of September. During September the ETFs industry in the United States gathered net inflows of US$97.29 billion, bringing year-to-date net inflows to a record US$740.81 billion, according to ETFGI's September 2024 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.) Highlights Assets invested in the ETFs industry in the United States reached a record of $10 Tn at the end of September beating the previous record of $9.74 Tn at the end of August 2024. Assets have increased 23.2% YTD in 2024, going from $8.11 Tn at end of 2023 to $10 Tn. Net inflows of $97.29 Bn in September 2024. YTD net inflows of $740.81 Bn are the highest on record, followed by YTD net inflows of $650.04 Bn for 2021 and the third highest recorded YTD net inflows are of $412.07 Bn in 2022. 29th month of consecutive net inflows. “The S&P 500 index increased by 2.14% in September and is up by 22.08% year-to-date in 2024. The developed market index excluding the US increased by 1.26% in September and is up 12.53% YTD in 2024.  Hong Kong (up 16.51%) and Singapore (up 7.43%) saw the largest increases amongst the developed markets in September. The emerging market index increased by 7.72% during September and is up 19.45% YTD in 2024. China (up 23.89%) and Thailand (up 12.43%) saw the largest increases amongst emerging markets in September.” According to Deborah Fuhr, managing partner, founder, and owner of ETFGI. Growth in assets invested in the ETFs industry in the United States as of the end of September The ETFs industry in the United States had 3,775 products, assets of US$10.00 trillion, from 341 providers listed on 3 exchanges. During September, ETFs gathered net inflows of $97.29 Bn. Equity ETFs gathered net inflows of $49.24 Bn during September, bringing YTD net inflows to $337.90 Bn, much higher than the $141.78 Bn in YTD net inflows in 2023. Fixed income ETFs had net inflows of $15.61 Bn during September, bringing YTD net inflows to $145.15 Bn, higher than the $116.99 Bn in YTD net inflows in 2023. Commodities ETFs reported net inflows of $1.52 Bn during September, bringing YTD net outflows to $9.17 Mn, higher than the $7.78 Bn in YTD net outflows in 2023. Active ETFs attracted net inflows of $26.49 Bn during the month, gathering YTD net inflows of $206.66 Bn, much higher than the $86.10 Bn in net inflows YTD in 2023. Substantial inflows can be attributed to the top 20 ETF‘s by net new assets, which collectively gathered $61.63 Bn in September. SPDR S&P 500 ETF Trust (SPY US) gathered $17.89 Bn, the largest individual net inflow.Top 20 ETFs by net new assets September 2024: US Name Ticker Assets($ Mn) Sep-24 NNA($ Mn) YTD-24 NNA($ Mn)Sep-24 SPDR S&P 500 ETF Trust SPY US     588,640.89                (726.22)         17,885.40 Vanguard S&P 500 ETF VOO US     528,169.74             71,193.61         10,220.51 iShares MSCI EAFE Value ETF EFV US       19,856.38                 840.73           4,230.67 Vanguard Total Bond Market ETF BND US     118,754.15             11,743.04           2,952.82 iShares Core Total USD Bond Market ETF IUSB US       33,213.01              8,679.27           2,814.43 Vanguard Total Stock Market ETF VTI US     437,999.88             23,822.98           2,745.29 iShares Broad USD High Yield Corporate Bond ETF USHY US       19,577.53              6,879.77           2,070.59 iShares Core S&P 500 ETF IVV US     526,832.84             45,368.97           2,045.81 iShares 7-10 Year Treasury Bond ETF IEF US       33,998.77              5,736.45           1,829.49 Invesco S&P 500 Equal Weight ETF RSP US       64,794.45              7,875.33           1,642.05 Blackrock Flexible Income ETF BINC US         5,692.48              5,102.51           1,584.14 iShares Core MSCI EAFE ETF IEFA US     126,780.88              7,960.59           1,514.17 Vanguard Russell 2000 VTWO US       11,745.45              2,977.89           1,443.62 SPDR Portfolio S&P 500 ETF SPLG US       46,387.15             14,032.01           1,377.13 iShares Core U.S. Aggregate Bond ETF AGG US     120,186.35             16,139.67           1,366.64 Vanguard Total International Stock Index Fund ETF VXUS US       79,791.28              8,488.63           1,301.76 SPDR Portfolio S&P 500 Value ETF SPYV US       24,853.27              2,065.76           1,197.90 Invesco Nasdaq 100 ETF QQQM US       33,847.36             10,902.58           1,170.16 Schwab US Dividend Equity ETF SCHD US       61,857.83              3,988.58           1,137.60 Vanguard Long-Term Corporate Bond ETF VCLT US       14,419.90              7,126.38           1,099.49 The top 10 ETPs by net assets collectively gathered $193.22 Mn during September. ProShares UltraShort DJ-UBS Natural Gas (KOLD US) gathered $81.95 Mn, the largest individual net inflow. Top 10 ETPs by net new assets September 2024: US Name Ticker Assets($ Mn)Sep-24 NNA($ Mn)YTD-24 NNA($ Mn)Sep-24 ProShares UltraShort DJ-UBS Natural Gas KOLD US            131.64                  (88.08)               81.95 VanEck Merk Gold ETF OUNZ US         1,150.65                 148.06               30.34 ProShares VIX Short-Term Futures ETF VIXY US            163.40                   (3.38)               22.04 United States Brent Oil Fund LP BNO US            216.35                   84.61               12.46 ProShares VIX Mid-Term Futures ETF VIXM US             38.98                     8.40               11.91 ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN MVRL US             27.78                     9.22                 9.22 Invesco DB US Dollar Index Bearish Fund UDN US             63.38                   (3.23)                 7.53 iPath Bloomberg Commodity Index Total Return ETN DJP US            529.43                  (86.60)                 6.05 ProShares UltraShort Gold GLL US             18.06                   12.04                 5.96 MicroSectors Gold Miners -3X Inverse Leveraged ETN GDXD US             32.25                   28.74                 5.73  Investors have tended to invest in Equity ETFs during September.

New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today issued new guidance to assist regulated entities in addressing and combating cybersecurity risks arising from artificial intelligence. The guidance builds on the Department’s ongoing work to protect New Yorkers and DFS-licensed entities from cybersecurity risks through its nation-leading cybersecurity regulation (23 NYCRR Part 500) and follows recently adopted DFS guidance to combat discrimination by insurers using artificial intelligence.  “AI has improved the ability for businesses to enhance threat detection and incident response strategies, while concurrently creating new opportunities for cybercriminals to commit crimes at greater scale and speed,” said Superintendent Harris. “New York will continue to ensure that as AI -enabled tools become more prolific, security standards remain rigorous to safeguard critical data, while allowing the flexibility needed to address diverse risk profiles in an ever-changing digital landscape.” DFS-regulated institutions must assess and take appropriate steps to address their cybersecurity risks, including evolving risks arising from AI. Consistent with the Department’s cybersecurity regulation, this guidance takes a risk-based approach to assist the financial services sector to better understand, assess, and mitigate their AI-specific cybersecurity risks, including social engineering, enhanced cyber-attacks, theft of nonpublic information, and increased vulnerabilities due to supply chain dependencies.  Critically, the cybersecurity measures outlined in the guidance and required by the cybersecurity regulation provide multiple layers of security controls with overlapping protections. This ensures that if one control fails, other controls are in place to prevent or mitigate the impact of a cybersecurity attack. This guidance does not impose new requirements, it helps DFS-regulated institutions meet their existing obligations in the Department’s cybersecurity regulation in light of evolving risks from AI. A copy of the guidance can be found on the Department’s website. Additional cybersecurity resources can be found on the Department’s Cybersecurity Resource Center. 

On October 16, ISDA and the Global FX Division of the Global Financial Markets Association responded to a consultation paper from the European Securities and Markets Authority (ESMA) on ‘Technical Standards specifying the criteria for establishing and assessing the effectiveness of investment firms’ order execution policies’. In the response, the associations discuss the requirement for pre-selected execution venues, mandatory consumption of consolidated tapes and categorization of financial instruments under the Markets in Financial Instruments Regulation, among other issues. Documents (1)for ISDA, GFXD respond to ESMA on Order Execution Policies  ISDA, GFXD respond to ESMA on Order Execution Policies(pdf)

The Ontario Securities Commission (OSC) is pleased to announce the release of the 2024 Investment Fund Survey (IFS) data dashboard. The IFS is an annual survey sent to more than 500 investment fund managers registered in Ontario. The survey is used to collect data on approximately 7,000 prospectus-qualified and exempt market investment funds that provides valuable insights into the more than $4 trillion of assets managed by Canadian investment funds. This year’s IFS includes investment funds with net assets under $10 million. As part of the OSC’s commitment to transparency, the data dashboard presents results from the IFS in a user-friendly and downloadable format. The IFS data, which includes information on leverage, liquidity, and asset class exposures of investment funds is instrumental for industry stakeholders, researchers, and policymakers in understanding market trends and making informed decisions. The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.ca.

The Banking Stakeholder Group (BSG) of the European Banking Authority (EBA) elected Christian Stiefmueller as new Chair during its meeting on 15 October 2024. Mr Stiefmueller, who represents consumers, will be supported by two Vice-Chairs, Julia Strau, and Edgar Loew, representing the financial institutions, and the independent top-ranking academics, respectively. Their mandates run for two years. Legal basis and background The BSG is set up according to Article 37 of the EBA Founding Regulation, to help facilitate dialogue and consultation with stakeholders on the work of the EBA. The BSG is composed of 30 members who serve for a period of four years with the possibility to be renewed for an additional term. Related content Page Banking Stakeholder Group

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has responded to the European Commission proposal to amend the Markets in crypto-assets Regulation (MiCA) Regulatory Technical Standards (RTS). ESMA acknowledges the legal limitations raised by the Commission but emphasises the importance of the policy objectives behind the initial proposal. In the Opinion, ESMA takes note of the amendments proposed to the two RTS specifying: the information to be included in a notification by certain financial entities of their intention to provide crypto-asset services and  the information to be included in an application for authorisation as crypto-asset service provider.  ESMA also reiterates that the final objective of these RTS is to ensure a thorough entry point assessment for applicant crypto-asset service providers (CASPs) and financial entities intending to provide crypto-asset services in the EU. This will increase the resilience of the crypto assets market and enhance investor protection in the crypto-assets space.  ESMA therefore recommends the Commission consider amendments to the MICA regulation (Level 1), namely: requiring applicant crypto-asset service providers and notifying entities to provide the results of an external cybersecurity audit; and  including, in the assessment of the good repute of the members of the management body of applicant crypto-asset service providers, checks regarding the absence of penalties also in areas other than commercial law, insolvency law, financial services law, anti-money laundering and counter terrorist financing, fraud or professional liability.  Background On 25 March 2024, ESMA published its first final report on the draft RTS specifying certain requirements of MiCA and submitted it to the EC for adoption. In September 2024, the Commission informed ESMA that it intended to adopt two of the proposed RTS with amendments and invited ESMA to submit new draft RTS reflecting the amendments provided.  Next steps This opinion has been communicated by ESMA to the Commission, the European Parliament and the European Council.  The EC may adopt the two RTS with the amendments it considers relevant or reject it. The European Parliament and the Council may object to an RTS adopted by the EC within a period of three months. Related Documents Download All FilesDownload Selected Files DateReferenceTitleDownloadSelect 16/10/2024 ESMA35-1872330276-195 Opinion on MiCA regulatory technical standards on the authorisations of crypto-asset service providers and notifications

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today updates to the Q&As on transparency and market structure issues[1], the Manual on post-trade Transparency and the Opinion on the assessment of pre-trade waivers considering MiFIR Review Transitional Provisions. ESMA is providing further practical guidance on the provisions following the statement from last March on the transition for the application of the MiFIDII/MiFIR Review, to reflect the changes introduced.  The amendments are published with the objective of contributing to the smooth transition and consistent application of MiFIR, and complements the clarifications on the applicable MiFIR Review (Level 1) and Technical Standards (Level 2) provisions provided in the Interactive Single Rulebook (ISRB) earlier this year.  Next steps Further revisions of Level 3 guidelines will be carried out following the implementation of the new or updated rules and Technical Standards.  All the updates and more information to support stakeholders in this transition are available on this webpage.   Further information: Cristina Bonillo Senior Communications Officerpress@esma.europa.eu   [1] List of updated Q&As: Q&As on market structure topics: 1663, 1664, 1667, 1668 (all deleted) Q&As on transparency topics: 1552, 1553, 1554 (all amended), 1555 (deleted), 1561 (amended), 1562 (deleted), 1563 (amended), 1564 (deleted), 1567 (amended), 1568, 1569, 1572, 1580, 1583, 1584, 1585 (all deleted), 1588 (amended), 1589 (deleted), 2306 (amended)  Related Documents Download All FilesDownload Selected Files DateReferenceTitleDownloadSelect 16/10/2024 ESMA70-155-6641 Opinion on the assessment of pre-trade transparency waivers 16/10/2024 ESMA74-2134169708-6870 Manual on post-trade transparency under MiFID II/ MiFIR

  Residencial Marina, the holding company of the Matutes Companies Group and Palladium Hotel Group, has registered a new commercial paper programme in the Spanish fixed income market of Bolsas y Mercados Españoles, MARF, for an amount of 50 million euros. The commercial paper to be issued under this programme will have unit notional amounts of 100,000 euros, will be aimed at qualified investors and will have maturities of up to 24 months. Banca March participates as Registered Advisor of the programme and the Placement Entities in the programme will be Banca March itself and Renta 4 Banco. Cuatrecasas has collaborated as legal advisor to the issuer in the registration of the programme. The Matutes Group, headed by Residencial Marina, has more than 50 years of history and consists of various business lines, including the hotel sector, which accounts for almost 70% of the Group's turnover, followed by leisure and events organisation, construction materials, real estate and others. The hotel business was started in the 60s in Ibiza by the businessman Abel Matutes Juan, with the aim of designing the most exclusive accommodation where luxury, quality and the best service were the main pillars. The Group's first steps were in the Balearic and Canary Islands and in the early 90s it continued its growth with the opening of several resorts in the Caribbean. In 2000, this group of hotels was grouped under the name Fiesta Hotel Group and in 2012 the Group renewed its corporate image, becoming Palladium Hotel Group. It currently manages around 14,000 rooms in Spain, Mexico, Dominican Republic, Jamaica, Brazil and Italy, where it operates under the commercial names TRS Hotels, Gran Palladium and Palladium Hotels & Resorts, Ushuaïa Ibiza Beach Hotel, Bless Collection Hotels, Only YOU Hotels and Hard Rock Hotels. At the end of 2023 Residencial Marina achieved a consolidated turnover of 1,104.1 million euros and an EBITDA of 277.9 million euros.

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced an enhanced fixed income security master file data offering, providing more data at a higher frequency. The enhanced security master file, known as Corporate Fixed Income Premium Intraday Reference Data, contains more than 20 new data elements, including security description, bond duration, interest rate, coupon frequency and details referencing whether the security is convertible, puttable or callable. DTCC serves a unique position in the market by being the lynchpin for reference data and corporate actions between issuers, custodians, and beneficial owners. The data is refreshed every 30 minutes, 23 times per day. With this enhancement, firms have access to an expanded data set on a timelier basis, enabling organizations to reduce front and back-office friction by leveraging security reference data required to process trades on newly issued bonds faster. Quicker data access also enables portfolio managers to ascertain portfolio composition, comply with portfolio holding guidelines (such as asset allocation), and inform trading opportunities. In addition, firms can consider new issuances and security characteristics while making trading decisions. By expediting operational reference data creation and validation, firms can improve their operational processes and lower cost and risk. “Intraday corporate fixed income data is critical for the identification, valuation, trading, and settlement in the secondary market. The T+1 transition requires firms to operate more quickly within shorter timeframes. Having access to underlying security data on a timelier basis can help firms achieve that objective,” said Tim Lind, Managing Director of DTCC Data Services. “DTCC is a primary channel that debt issuers use to inform investors and custodians of corporate actions and new securities they bring to market. Data Services continues to advance the maturity and efficiency of the market by accelerating the delivery of data to the investor community.” DTCC’s Security Master File offers up-to-date and reliable information on securities eligible for servicing and processing at DTCC’s National Securities Clearing Corporation (NSCC) and The Depository Trust Company (DTC). The service contains data from NSCC and DTC, and is available from 6:15 AM to 5:15 PM ET, alongside one final end-of-day report at 10:15 PM ET. Corporate Fixed Income Premium Intraday Reference Data also offers a full security master file of all active corporate fixed income securities daily, from Monday to Friday at 10:30 PM ET.

In a move to enhance client services globally, Danske Bank has implemented Broadridge Financial Solutions, Inc.'s (NYSE: BR) leading global proxy voting technology. The Broadridge solution streamlines the proxy voting process and ensures greater accuracy and speed, enabling Danske Bank's clients to make more informed and timely investment decisions. The implementation extends the trusted strategic relationship between Danske Bank and Broadridge.  Earlier in 2024 Broadridge announced that Danske Bank had selected Broadridge’s multi-asset trading and market making solution, Tbricks, to support multi-asset trading, pricing and position management across Danske Bank’s markets. “We are thrilled to launch this partnership with Broadridge, which is pivotal in enhancing our global investor stewardship. This collaboration enables us to deliver seamless, efficient voting solutions that empower our clients across all regions,” says Greta Liniauskaite-Jankuniene, Head of Asset Services in Danske Bank. She continues: “This is an important milestone in our strategic journey and, together with Broadridge, who is a global leader in this domain, we can combine our expertise and experience with an efficient and resilient end-to-end solution that will help our customers both domestically and internationally.” Danske Bank commenced live operations for proxy voting with Broadridge in September of this year and is now benefitting from the unified and highly resilient solution to support efficient investor voting for meetings in all regions including EMEA, the Americas and Asia/Pacific. “We applaud Danske Bank’s proactive and responsible strategy to empower investors who increasingly want to exercise their vote entitlements in all markets,” said Demi Derem, SVP of Investor Communication Solutions International, Broadridge.  “Working together in close partnership, we are delivering on our commitment to advance shareholder democracy and market wide governance standards throughout the shareholder communications chain.”

SkySparc, a leading corporate and financial institutions solutions provider, and Kyriba, a global leader in liquidity performance, today announced a strategic partnership designed to enhance treasury management implementation and integration. This collaboration brings SkySparc's technology accelerators and deep implementation expertise to Kyriba's global client base, expected to significantly reduce time-to-benefit for treasurers worldwide. The partnership leverages SkySparc's advanced technologies, including the innovative OmniFi automation platform and iBAV bank account validation tool, to complement Kyriba's comprehensive financial management solution. This powerful combination goes beyond traditional implementation services, offering treasurers a comprehensive toolkit, which enables them to rapidly deploy, integrate, and optimize their treasury systems. By streamlining the implementation process and enhancing system integration capabilities, the relationship aims to minimize the time and complexity typically associated with treasury technology projects. At the heart of this partnership is SkySparc's OmniFi platform, which seamlessly consolidates diverse financial systems, providing treasurers with unprecedented operational efficiency. Coupled with the iBAV’s enhanced security features, this integration sets new standards for both effectiveness and risk management in treasury operations. Henrik Crone, Deputy CEO & Head of Treasury Consulting at SkySparc, said: "Our partnership with Kyriba represents a noteworthy leap forward in treasury management technology. By combining our innovative accelerators with Kyriba's advanced treasury and cash management suite, we will drive faster, smoother implementations, maximizing the value treasurers derive from their technology investments.” Ara Gopal, Global Vice President, Partnerships and Alliances at Kyriba, commented: "We're delighted to partner with SkySparc to bring these advanced tools to our clients. This collaboration aligns perfectly with our commitment to driving innovation in treasury and finance and eliminating liquidity gridlock. By integrating SkySparc's technology with our treasury platform, we offer clients a fast track to optimized treasury operations, enabling them to manage the complexities of global finance with greater agility and confidence." Jeff Struzenski, Managing Director of SkySparc Americas, added: "This partnership is a game-changer for treasurers. Our combined offering of highly-trained, certified Kyriba consultants and efficient technology like OmniFi will significantly reduce implementation times and optimize existing treasury platforms more effectively." This collaboration builds on SkySparc's recent expansion in the Americas, led by Jeff Struzenski, who brings over 25 years of industry experience, including his role as Senior Vice President of Global Banking at Kyriba from December 2020 to November 2022.  The partnership between SkySparc and Kyriba represents a significant advancement in the treasury management landscape. By combining SkySparc's technological innovation and implementation expertise with Kyriba's established market presence and comprehensive financial management solutions, this alliance is poised to benefit treasurers on a global scale.

The title of this conference is lasting strategies in a changing world. This is apt as companies over the last decade have woken up to stakeholders expectations that making profit in itself, is not enough. The stakeholders now want to know how you made the Profit and indeed how you considered People and Planet in making the Profit. To meet these new expectations, we have seen companies integrating sustainability into their day-to-day operations. Click here for full details.

The HKEX issued the following  statement in response to the Hong Kong Chief Executive’s 2024 Policy Address:HKEX Chairman, Carlson Tong, said: “We warmly welcome today’s Policy Address by the Chief Executive of HKSAR, Mr John Lee. We thank the Chief Executive and the HKSAR Government for their ongoing support of Hong Kong's capital markets, further building on their breadth and depth. The initiatives presented today will help promote market efficiency, boost transparency, diversify our product ecosystem, and elevate the attractiveness of our markets to our global investor base. At HKEX, we are committed to supporting the long-term development of Hong Kong's markets and its economy. We look forward to the continued collaboration with the HKSAR Government, the Securities and Futures Commission, and all our stakeholders, as together we write the next exciting chapter of Hong Kong’s IFC story.”HKEX Chief Executive Officer, Bonnie Y Chan, said: “HKEX is committed to bolstering Hong Kong's strength and resilience as a major international capital formation centre. Hong Kong’s super power is its connectivity, and we are pleased to note the HKSAR Government’s support of HKEX’s ongoing work to building a liquid and diverse ecosystem across asset classes and products, as well as to explore more ways to boost trading efficiency and accessibility, encouraging more participation in Hong Kong's capital markets. We look forward to working closely with the Chief Executive and the HKSAR Government, as well as other stakeholders, to deliver on our strategic imperatives, fuelling the vibrancy and competitiveness of our international-facing markets.”

The Central Securities Depository in Prague (CSD Prague) – a subsidiary of the Prague Stock Exchange and thus part of the Vienna-Prague Stock Exchange Group – has been authorised to operate a distributed ledger technology (DLT) market infrastructure. CSD Prague is the first institution worldwide to receive this authorisation under the EU's DLT pilot regime. The approval was granted by the Czech National Bank and confirmed by the European Securities and Markets Authority (ESMA). From 18 November 2024, CSD Prague will offer issuers of securities to register their issues in the newly created DLT-based register. "DLT is often associated with blockchain and cryptocurrencies, but it also presents a valuable opportunity for us as an infrastructure service provider to enhance efficiency and transparency in securities settlement. We are proud to work on pioneering technological advancements within the capital market," says Christoph Boschan, CEO of the Vienna Stock Exchange. The technology enables the management of a securities account and subsequently the transfer of shares or bonds to this account as part of an initial subscription, a capital increase or a transfer from another account on the basis of an agreement with the counterparty. These transactions can be carried out with or without cash settlement. Settlement via DLT has the potential to simplify the process of booking securities reducing the administrative burden for both issuers and security holders. At the same time, the transparency and security of the current central CSD register will be maintained. This will also be possible for private investors by using the electronic identification solution "BankID" to open an account with the CSD and access it via a web or mobile application. The apps are available 24 hours a day, seven days a week. "During the implementation of the project, we benefited from two key advantages – integrated post-trading in the form of CSD Prague, which gives us a perfect overview of all the processes associated with the registration and settlement, and our expert IT team with 20 years of experience in securities business. Thanks to this we were able to develop the system in a very short time", says Petr Koblic, Member of the Board of the Vienna Stock Exchange and CEO of the Prague Stock Exchange. Financial service providers can also become a node in the DLT system and thus open DLT accounts for their customers and record transfers in their systems within their customer applications. Overall, this should create added value for companies with employee participation programmes, FinTechs and crowdfunding platforms that connect to DLT and offer their customers an additional service in the securities sector. For SMEs, the subscription of bonds or shares without additional intermediaries offers an alternative financing option. About distributed ledger technology & the EU DLT pilot regime A distributed ledger can be described as an information store that contains records of transactions. It is transferred to a number of nodes and synchronised everywhere using a so-called consensus mechanism. To add a block to the ledger, each node in the network must verify and validate it. This means that the system does not need intermediaries to verify transactions. The DLT pilot regime has been in place in the EU since 23 March 2023 and is intended as a temporary "regulatory sandbox" to – among other things – facilitate the establishment of new types of market infrastructures, including DLT settlement systems.

The FCA has announced a package of work in the insurance market amid concerns about rising prices, alongside the launch of the Government motor insurance taskforce. The FCA has launched a review, known as a competition market study, to see whether people who borrow to pay for motor and home insurance are receiving fair, competitive deals. Premium finance allows people to pay for insurance in instalments. With the average yearly rate on the amount of money borrowed ranging between 20 to 30%, the FCA is concerned that premium finance may not be providing fair value. Over 20 million people are estimated to pay for their insurance this way and FCA research shows that 79% of adults in financial difficulty have used the product. As part of its market study, the FCA will review whether the products represent fair value, how well customers are made aware of their financing options, the role of commission, and other potential barriers to effective competition in the motor and home premium finance market. Graeme Reynolds, director of competition at the FCA, said: 'People rely on premium finance to spread their insurance costs by paying in smaller monthly payments. We want to ensure that competition works well and make it easier for consumers to find the best deals.' FCA responds to Government motor insurance taskforce The Government has announced a taskforce, which includes the FCA, with the aim of identifying any actions that may stabilise or reduce motor insurance premiums, while maintaining appropriate levels of cover. The FCA will analyse the causes of increased costs in motor insurance and will look closely at claims costs, reviewing claims handling arrangements and factors impacting different types of claim. The regulator will also analyse the impact of rising insurance prices on different customer groups, such as younger and older drivers and those from ethnic minority backgrounds or on lower incomes. Background   Read the market study terms of reference. The FCA expects to publish an interim report following the market study and proposed next steps during H1 2025. The FCA has previously written to the insurance industry (PDF) regarding premium finance products with high APRs but low credit risk.   In April 2024, the FCA finalised the introduction of new guidance for firms on supporting borrowers in financial difficulty, including premium finance customers.   The estimate for the number of people paying for insurance monthly and % of customers in financial difficulty is from the FCA’s Financial Lives Survey 2022 key findings report (PDF) (see page 85).  

JPX Market Innovation & Research, Inc. ("JPXI") will start calculating and publishing "TOPIX Banks High Dividend Index", which consist of 15 constituents with high actual dividend performance from the constituents of the TOPIX Banks. Please refer to the appendix for the list of constituents. Index Name TOPIX Banks High Dividend Index Constituent Issues Consists of 15 issues with high actual dividend performance (total amount of dividends and dividend yields) from the constituents of the TOPIX Banks. Index Weights Market capitalization weighting (free-float adjusted) Base Date/Base Value December 13, 2024 (Fri.) / 1,000 points Launch Date December 16, 2024 Total Return Index Available CalculationInterval The daily closing value of the index is published. Dissemination via TMI Index data is provided via TMI (TOPIX DFS). Use of Index License These indices calculated in collaboration with another company. With regards to index licensing, priority will be given to parties related to ETF creation. Tokyo Stock Exchange Index Guidebook (TOPIX Banks High Dividend Index) [Appendix] Index Constituents

SGX Securities is pleased to welcome Food Innovators Holdings Limited under the stock code “KYB”. Food Innovators Holdings Limited is engaged in the restaurant leasing and subleasing business, focusing on matching properties and tenants in the restaurant business in Japan, and the food retail business. Transforming from a Japan-focused business, the company has since expanded to various locations overseas and currently operates restaurants in Japan, Singapore and Malaysia. It presently operates a total of 26 restaurants, one bakery café and one central café bakery kitchen. Kubota Yasuaki, Chief Executive Officer, Food Innovators Holdings Limited, said, “The successful completion of our IPO marks a pivotal point in the Group’s journey to bring authentic and quality Japanese cuisines to international markets. With our deep-rooted expertise in the industry, we are confident of capitalising on new opportunities and expanding our restaurant network across domestic and international markets. I would like to express my heartfelt gratitude to everyone who worked tirelessly and supported us in this journey. We look forward to your continued support as we remain committed to generating incremental value for our shareholders.” Koh Jin Hoe, Head of Capital Markets, Global Sales and Origination, SGX Group, said, “We are pleased to welcome Food Innovators Holdings Limited to our Catalist platform as they embark on this exciting new chapter. Food Innovators’ strengths in offering comprehensive solutions for restaurant management and introducing innovative brand concepts position them well to capture new markets. We congratulate them on their successful listing and look forward to supporting their continued growth.” Food Innovators Holdings Limited joins our vibrant ecosystem of more than 200 Catalist-listed companies, with a combined market capitalisation of about S$7.8 billion. Food Innovators Holdings Limited opened at S$0.20 today.

Ziraat Bank, Türkiye’s leading financial institution, has commenced operations at its new office in the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region. This move reflects the bank’s continued commitment to provide financial services to its customers in the UAE and beyond.The bank’s office in DIFC will focus on enhancing relationships with regional financial institutions and facilitating international operations of its clients, including Turkish businesses. Moreover, it will play a pivotal role in supporting entrepreneurs from the UAE in establishing and expanding their businesses through Ziraat Finance Group’s extensive network in Türkiye and other countries. Commenting on this significant milestone, Dr. Ertan ALTIKULAÇ, Head of International Banking Group of Ziraat Bank Türkiye, said: “Ziraat Bank holds the distinction of having the most extensive international service network among Turkish banks, with a presence in 19 countries and 123 service points globally. The opening of our representative office in Dubai underscores our commitment to expanding our global footprint with promising business environment and strategic advantages offered by the DIFC.” Recognised as the deepest financial centre between London and Singapore, DIFC has earned the trust of 250 banks, including 27 of the top 29 globally systemically important banks (G-SIBs) with its 20-year-strong reputation for transparency, effective regulation, and knowledge-building. Salmaan Jaffery, Chief Business Development Officer of the DIFC Authority, said, “We are pleased that Turkish state-owned lender Ziraat Bank has chosen DIFC as its home in the UAE to support its global expansion plans. The Centre continues to attract some of the strongest financial institutions in the world, which is a testament to its world-class business ecosystem, legal and regulatory framework and infrastructure. This announcement is a further testament to DIFC being the leading hub for regional champions from the Middle East, Africa and Türkiye, making it the region’s premier global financial hub.”  Last year, the UAE signed the Comprehensive Economic Partnership Agreement with Türkiye, which is expected to boost bilateral non-oil trade to more than $40 billion in the next five years, from about USD 19bn as of 2023. Furthermore, strong banking ties exist between the two nations, have been further solidified through various strategic investments and collaborations. These efforts underscore the commitment of both countries to fostering a robust financial partnership, which is poised to drive economic growth and innovation in the banking sector.  Ziraat Bank has a strong presence in the Gulf region, with branches in Bahrain, Jeddah, Baghdad, and Erbil, in addition to its representative office in Cairo. The inauguration of the office in DIFC is a testament to the bank’s strategic vision to provide extensive, reliable service across the region.