I am pleased to support the order granting conditional substituted compliance in connection with certain capital and financial reporting requirements applicable to nonbank swap dealers domiciled in the French Republic and Federal Republic of Germany and subject to regulation in the European Union (EU) (EU Final Order). The EU Final Order, on balance, reflects an appropriate approach by the CFTC to collaboration with non-U.S. regulators that is consistent with IOSCO’s 2020 report on Good Practices on Processes for Deference.[1]  I would like to thank Amanda Olear, Thomas Smith, Rafael Martinez, Liliya Bozhanova, Joo Hong, and Justin McPhee from the CFTC’s Market Participants Division for their truly hard work on the EU Final Order and for addressing my concerns regarding the conditions for notice requirements.[2] I also thank the European Central Bank (ECB) and Autorité de contrôle prudentiel et de resolution (ACPR) for their assistance and support.  The CFTC’s capital comparability determinations are the result of tireless efforts spanning over a decade since the global financial crisis. I commend the staff for working together with our regulatory counterparts around the world to promote regulatory cohesion and financial stability, and mitigate market fragmentation and systemic risk. RELATED LINKS CFTC Press Release No. 8925-24 [1] IOSCO Report, “Good Practices on Processes for Deference” (June 2020), https://www.iosco.org/library/pubdocs/pdf/IOSCOPD659.pdf. [2] Statement of Commissioner Caroline D. Pham in Support of Proposed Order and Request for Comment on Comparability Determination for EU Nonbank Swap Dealer Capital and Financial Reporting Requirements (June 7, 2023), https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement060723b.

I am pleased to support the order granting conditional substituted compliance in connection with certain capital and financial reporting requirements applicable to nonbank swap dealers subject to regulation by the Mexico Comision Nacional Bancaria y de Valores (CNBV) and Banco de Mexico (Mexico Final Order). The Mexico Final Order, on balance, reflects an appropriate approach by the CFTC to collaboration with non-U.S. regulators that is consistent with IOSCO’s 2020 report on Good Practices on Processes for Deference.[1] I would like to thank Amanda Olear, Thomas Smith, Rafael Martinez, Warren Gorlick, Lilya Bozhanova, and Justin McPhee from the CFTC’s Market Participants Division for their truly hard work on the Mexico Final Order and for addressing my concerns regarding the conditions for notice requirements.[2] I also thank the CNBV and Banco de Mexico for their assistance and support. The CFTC’s capital comparability determinations are the result of tireless efforts spanning over a decade since the global financial crisis. I commend the staff for working together with our regulatory counterparts around the world to promote regulatory cohesion and financial stability, and mitigate market fragmentation and systemic risk. RELATED LINKS CFTC Press Release No. 8925-24   [1] IOSCO Report, "Good Practices on Processes for Deference" (June 2020), https://www.iosco.org/library/pubdocs/pdf/IOSCOPD659.pdf. [2] Concurring Statement of Commissioner Caroline D. Pham Regarding Proposed Order and Request for Comment on an Application for a Capital Comparability Determination (Nov. 10, 2022), https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement111022.

I am pleased to support the order granting conditional substituted compliance in connection with certain capital and financial reporting requirements applicable to nonbank swap dealers subject to regulation by the United Kingdom Prudential Regulatory Authority (UK PRA) (UK Final Order). The UK Final Order, on balance, reflects an appropriate approach by the CFTC to collaboration with non-U.S. regulators that is consistent with IOSCO’s 2020 report on Good Practices on Processes for Deference.[1] I would like to thank Amanda Olear, Thomas Smith, Rafael Martinez, Liliya Bozhanova, Joo Hong, and Justin McPhee from the CFTC’s Market Participants Division for their truly hard work on the UK Final Order and for addressing my concerns regarding the conditions for notice requirements.[2] I also thank the UK PRA for its assistance and support. The CFTC’s capital comparability determinations are the result of tireless efforts spanning over a decade since the global financial crisis. I commend the staff for working together with our regulatory counterparts around the world to promote regulatory cohesion and financial stability, and mitigate market fragmentation and systemic risk. RELATED LINKS CFTC Press Release No. 8925-24   [1] IOSCO Report, "Good Practices on Processes for Deference" (June 2020), https://www.iosco.org/library/pubdocs/pdf/IOSCOPD659.pdf. [2] Concurring Statement of Commissioner Caroline D. Pham Regarding Proposed Order and Request for Comment on an Application for a Capital Comparability Determination (Nov. 10, 2022), https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement111022; Statement of Commissioner Caroline D. Pham in Support of Proposed Order and Request for Comment on Comparability Determination for UK PRA Swap Dealer Capital and Financial Reporting Requirements (Jan. 24, 2024), https://www.cftc.gov/PressRoom/SpeechesTestimony/phamstatement012424.

The SONIA Stakeholder Advisory Group supports the Bank’s administration of SONIA by providing advice and technical input to the Bank and the SONIA Oversight Committee Minutes 1: Welcome / introductions The Chair welcomed the Group. 2: Diversity, Equity & Inclusion Presentation on the Bank’s Meeting Varied People initiative Bank staff provided a presentation on the Bank’s Meeting Varied People (MVP) initiative. This is a strategic priority which aims to improve diversity of the Bank’s contact base and support diversity objectives. These objectives include achieving greater diversity in the Group’s membership and supporting change in the wider industry. The MVP initiative actively supports a pipeline of diverse talent among market participants by encouraging firms to include diverse contacts in interactions with the Bank, providing opportunities to establish relationships with Bank staff earlier in careers and develop understanding of the importance of diversity to drive change. In recognition of the importance of diversity and inclusion as a strategic priority, the Terms of Reference were updated to include additional wording supporting this positive aim. SSAG Diversity & Inclusion plan Members reviewed suggestions to enhance diversity and inclusion within the Group, including inviting colleagues as observers, creating educational agenda items and potentially measuring and monitoring diversity and inclusion. The observer programme was discussed and it was noted that this has been successfully initiated in other Bank market committees, benefiting colleagues who may not usually be exposed to the Bank. This has been seen as a continuous opportunity to engage with the Bank and provide input from a diverse range of perspectives. Members welcomed the initiative. The Group discussed future educational agenda items and members volunteered to take the lead on certain items in future meetings. Topics would focus on sterling markets and members’ interaction, showcasing knowledge and experience to support increased awareness for the Group. Bank staff discussed potentially using a survey of attendees to gather data on diversity of meetings and using this as a means of focussing on increasing diversity over time and developing the talent stream. The survey is in development but it is hoped to be introduced in the near future. 3: Knowledge Sharing Short Term Repo facility usage Bank staff provided an overview of the Short Term Repo (STR) facility, which supplies reserves on demand at Bank Rate versus gilt collateral, on a weekly basis. The facility ensures short term interest rates remain aligned with Bank Rate. The Bank expects increased usage of its facilities as the level of reserves in the system falls. This expectation is noted in the Market Notice, which highlights the facility is for regular use. The Group discussed sterling market dynamics and function and welcomed the presentation on STR usage. Members noted the facility was efficient and useful, particularly in acting as a backstop for the repo market. Use of the facility has increased recently as overnight repo rates have moved above Bank Rate. This has coincided with a reduction in SONIA volumes and an increase in the SONIA fixing. Bank staff discussed the levels of liquidity in the banking system, the evolution of the Bank’s balance sheet and the progress of Quantitative Tightening (QT). As the Bank’s balance sheet reduces to a new normal level, through QT and maturity of the Term Funding Scheme (TFSME) is expected to have reduced significantly by the end of 2025, at some point the stock of reserves will approach the minimum level needed by Banks – the Preferred Minimum Range of Reserves (PMRR).The Bank operates the Short Term Repo facility (discussed above) to ensure that Banks have access to reserves as needed. The Bank expects greater use of facilities, including the STR, as it nears the Preferred Minimum Range of Reserves. Members noted a demand for longer term funding requirements which satisfy Net Stable Funding Ratio requirements (NSFR) once QT has been delivered. Some members noted that in time a Bank of England repo facility offering 1 year term would be more optimal, from an NSFR perspective. The Group discussed liquidity demand, the impact on SONIA, the drivers of activity and key pressures in the system. Members noted evolving nature of money markets and Bank staff confirmed that there remains flexibility within the definition of SONIA to evolve the benchmark if required. 4: Retrospective review of market conditions Members discussed the flow of activity in SONIA market and the drivers which influence this. Activity in money market funds, overnight repo and funding levels in Euro markets have contributed to volumes and fixings. It was noted that volumes fell in the first months of the year, driven by higher yields in overnight repo and lower assets under management in money market funds. There were significant outflows at March month-end and noticeably, movements in SONIA lagged behind movements in repo rates. This was mainly due to changing liquidity requirements of investors and speculation over the persistence of higher repo rates. Members expected the unsecured overnight volumes to remain suppressed through the current period of higher overnight repo as lenders source higher yielding liquid assets. However, members also noted a natural appetite for a certain minimum level of overnight unsecured deposits, given repo trading is undertaken in the morning whereas unsecured remains open into the afternoon. 5: Horizon scanning The Group noted issues around clearing events and the impact of money market regulations in the US. This had largely dissipated as regulations were less stringent than had been muted by participants. Members noted the potential impact of a change in the Minimum Reserve Requirements (MRR) at the ECB. This had recently been published and the MRR was maintained at 1%, however concern remains should this increase over time. 6: RFR Update – Liquidity in SONIA derivatives markets The 20 March 2024 marked the last publication of a LIBOR setting. Contributions from participants during the transition from LIBOR to SONIA were noted and members were thanked for their support. Synthetic LIBOR for 1,3 and 6m USD LIBOR will cease to be published after September 2024, with the earlier than expected termination demonstrating the success of the transition. Members commented on the improving liquidity in SONIA derivatives markets, as volumes have increased to levels similar to short term interest rate swaps pre-transition. This was a welcomed progression in SONIA referencing markets, as significant liquidity had been drained following recent economic events. 7: AOB No further business was discussed. Attendees Chair: Caroline Stockmann (Independent member of SONIA Oversight Committee)External Member: Alexandra Innes (Independent member of SONIA Oversight Committee)HSBC: James MurphyICE Futures: Uriel AmitaiInsight Investments: Chris BrownIndependent Participant: Olivia MaguireLCH: Philip WhitehurstLGIM: John WhertonMizuho: Dominic DuncanNatWest: Oliver ButcherRabobank: Chirag PatelSociété Générale: Romain SinclairTP ICAP: Philip Chilvers Observers Société Générale: Gaurav AidasaniBank of England: Joe Clouting, Johhny Elliot, Araminta Eyre, Michael Foster, Joanna McLafferty, Kirstine McMillan, Arif Merali, Jon Paxton, Iain Ramsay, Joe Smart, Laura Wightman, Ashley Young Apologies Blackrock IMGoldman SachsISDARBC Capital MarketsJM Morgan AM Charts and slidesOpens in a new window

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Final Report on the Guidelines on Enforcement of Sustainability Information (GLESI) and a Public Statement on the first application of the European Sustainability Reporting Standards (ESRS). These documents will support the consistent application and supervision of sustainability reporting requirements. The purpose of the GLESI is to provide guidance to build convergence on supervisory practices on sustainability reporting. See explainer video here. Through the Public Statement on the first-time application of the ESRS, ESMA intends to support large issuers in going through the learning curve associated with the implementation of these new reporting requirements. Click here for full details.

Market capitalisation of approximately NOK 281 million The seventh listing of the year on Euronext Oslo Børs’ markets 26th listing on Euronext in 2024   Euronext Oslo Børs congratulates the savings bank Haugesund Sparebank (ticker: HGSB) on its listing on Euronext Oslo Børs. This marks the seventh listing in Oslo this year and the 26th across Euronext.  Haugesund Sparebank, established in 1928, is an independent and locally owned bank, providing financial services to both private and corporate customers. The bank is owned by its customers and local businesses, with profits reinvested back into the community.  In late 2023, it was announced that the two savings banks Haugesund Sparebank and Tysnes Sparebank would merge. Tysnes Sparebank, which is listed on Euronext Growth (ticker: TYSB), will cease to exist following the merger. At market opening today, the share price was set at NOK 125 per share, giving the company a market value of approximately NOK 281 million on its first day of trading. No equity certificate offering was conducted in connection with the listing. Bente Haraldson Syre, CEO of Haugesund Sparebank said: “The listing of Haugesund Sparebank on Oslo Børs is a natural part of the bank's strategy, in relation to securing a strong and local bank in the future. The listing on Oslo Børs gives us access to a broad investor market and helps to ensure a good ownership structure for further growth. This day is a significant moment for the bank, our employees and all our owners." 

TMX Group Limited today announced June 2024 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange (Alpha), including Alpha-X & Alpha DRK, and Montréal Exchange (MX). Related Document:TMX Group Consolidated Trading Statistics – June 2024

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

 ETFGI, a leading independent research firm specializing in research on trends in the global ETFs industry, reports last week there were 43 new product listings and 23 products closures. This activity has resulted in a net increase of 20 new ETFs. The distribution of new product launches is geographically diverse, with 22 debuting in the United States, 13 in the Asia Pacific region (excluding Japan), and 4 in Europe. On the other side of the spectrum, product closures were most prominent in the Asia Pacific region (excluding Japan), which saw 15, while Canada accounted for 8. The new offerings span various asset classifications, including 23 Active, 16 Equity, and 4 Leveraged products. In terms of product types, the majority were ETFs (38), with ETPs (5) also contributing to the mix. This report underscores the dynamic nature of the ETF industry and highlights the continued growth and diversification of the market. Contact ETFGI to learn about our subscription research services contact@etfgi.com  New listings and closures in the Global ETFs industry during the week of June 24, 2024

The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), announces the appointment of members to the Listing Committee of the Main Board and GEM (together, the Listing Committee1). The Listing Rules of the Main Board and GEM provide for all Listing Committee members to vacate office annually. Each year, the Listing Nominating Committee nominates individuals for appointment (and reappointment) to the Listing Committee. The Board of the Exchange makes the appointments on the recommendation of the Listing Nominating Committee. The Listing Nominating Committee this year comprised three non-executive members of the HKEX Board (Chairman Carlson Tong, Director Cheah Cheng Hye and Director Susan Chow) and the Chairman, the Chief Executive Officer and an Executive Director of the Securities and Futures Commission (Chairman Tim Lui, Chief Executive Officer Julia Leung and Executive Director Michael Duignan). By news releases published on 4 January 2024 and 11 March 2024, the Listing Nominating Committee invited applications from individuals interested in serving on the Listing Committee. Seventy-one applications were received. The Listing Nominating Committee is grateful to all applicants for expressing their willingness to serve. Membership of Listing Committee commencing today With immediate effect, membership of the Listing Committee will be as set out in the table below.  Members’ biographies are available on the HKEX website. There are eight new Listing Committee members – Amy Fong, Benson Wong, Christopher Yip, Conrad Chan, Daniel Lee, Frank Yuen, Mervyn Chow and Philip Zhai. They replace Johnny Chan, Matthew Emsley, Lincoln Li, Jeanette Chan, Pauline Leung, Serena Shao, Christina Gaw and Jack Lau. The Exchange wishes to thank these members for their service on the Listing Committee. Renu Bhatia has been re-appointed as the Chairman of the Listing Committee. Terence Keyes has been re-appointed as a Deputy Chairman. Paul Lau and Christopher Wong have been appointed as Deputy Chairmen.   Listing Committee Membership 2024 Name of Member Year of appointment to the Listing Committee Chairman   BHATIA Renu 2019 Deputy Chairmen (in alphabetical order)   KEYES Terence Francois  2020 LAU Paul 2020 WONG Ka Shun, Christopher 2022 Ex officio member   Bonnie Y CHAN Not applicable Other members (in alphabetical order)   CHAN Chi Chuen, Dickson 2023 CHAN Conrad 2024 CHAN Lap Tak, Jeffrey 2023 CHENG Kin-Lung, David 2021 CHIU Michael 2021 CHOW Kyan Mervyn 2024 CHUA Rebecca 2021 CLARK Stephen John 2020 DEMOPOULOS Frederick 2019 FONG Amy 2024 LEE Chun Ho, Ernest 2023 LEE Daniel H 2024 LEE Pui Hang, Julian 2022 LI Chun, Elsy 2019 LILA Miron 2022 LIM Ronnie 2023 LLOYD Victoria Sally Tina 2019 MELLER Gillian Elizabeth 2022 SOON Y S Elizabeth 2019 WONG Wai Bong, Benson 2024  YIP Christopher 2024  YUEN Ka Fai, Frank 2024  ZHAI Philip Pu 2024       Note:  The Main Board and GEM Listing Committees have operated as an integrated committee since 2003 and have had identical membership since 2006.  

EEX Group reports its June monthly volumes with the following highlights: EEX Group Global Power markets continued the rising trend in terms of Year-on-Year monthly volume growth to 893.6 TWh (+17%), with significant increase recorded in Belgian Power Futures (+110%) and CSEE Power Futures (+123%). EEX French Power Futures have seen a record monthly volume of 125.0 TWh, a 138% YoY increase. Volumes on the EEX Japan Power Futures followed the trend of past months in June again, with a +383% YoY increase, reaching 4.8 TWh. On the EEX Nordic Power Futures market, 3.2 TWh total volume was traded in June 2024 (+53%), comprising of both Nordic Zonal Futures and Nordic System Price Futures. A record trading volume of 74.8 TWh was reported at the EEX Group Power Spot markets, translating into a 28% growth YoY. While volumes on the EEX Group’s Global Natural Gas markets slightly decreased compared to last year, Baltic-Finnish Gas Futures (operated by GET Baltic) have seen a YoY growth of 567%. On the North American Environmental markets, Nodal reported a year-on-year volume expansion of 85%, with over 39,000 lots.   Click here for full details.

Record Europe, Middle East and Africa (EMEA) ADV of 5.8M, up 28% in Q2 2024 Asia Pacific (APAC) ADV of 1.7M, up 9%; Latin America (LatAm) ADV of 182K, up 8% in Q2 2024   CME Group, the world's leading derivatives marketplace, today announced that its quarterly international average daily volume (ADV) reached a record 7.8 million contracts in Q2 2024, up 23% year on year.  Reflecting all trading reported outside the United States, the record volume was driven by growth across all asset classes, with the highest trading volumes coming from interest rate and equity products.  Commodities saw strong growth, with metals up 50%, energy up 40% and agricultural products up 25%. "Market conditions in the second quarter of the year continued to create a heightened need for risk management as clients globally turned to CME Group markets to navigate sustained uncertainty and volatility," said Julie Winkler, Senior Managing Director and Chief Commercial Officer, CME Group. "Our record Q2 international ADV was driven by significant increases in volume across all asset classes in EMEA and APAC, demonstrating how our clients turn to our products to hedge price risk." In Q2 2024, EMEA ADV hit a record 5.8 million contracts, up 28% from Q2 2023. Foreign exchange and interest rate products reached new records in Q2 2024, growing 27% and 26% respectively year on year. Commodities in the region also saw record quarterly ADV, with energy, metals and agricultural products up 54%, 45% and 33% respectively, compared to the same period in 2023.  APAC ADV stood at 1.7 million contracts in Q2 2024. The region saw strong quarterly ADV performance in metals, up 62%, while agricultural products ADV was up 14% year over year. LatAm ADV stood at 182,000 contracts in Q2 2024, up 8% compared to Q2 2023. Metals and foreign exchange products both hit a record quarterly ADV in the region in Q2 2024, up 84% and 41% respectively year over year. Canada ADV stood at 162,000 contracts in Q2 2024, up 11% compared to Q2 2023. This was a result of strong growth in energy and interest rate products, up 32% and 14% year over year. 

The European Banking Authority (EBA) issued today new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of  such transfers for money laundering and terrorist financing purposes. The Guidelines specify which information should accompany a transfer of funds or crypto assets and also list the steps that payment service providers (PSPs), intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and intermediary CASPs (ICASPs) should take to detect missing or incomplete information, and what they should do if a transfer of funds or a transfer of crypto-assets lacks the required information. The objective is to establish a consistent and effective approach to implementing the travel rule across the EU that allows relevant authorities to fully trace such transfers where this is necessary to prevent, detect or investigate money laundering and terrorist financing. Background In June 2023, Regulation (EU) 2023/1113 entered into force. The Regulation recasts Regulation (EU) 2015/847 and brings the EU’s legal framework in line with the Financial Action Task Force (FATF)’s standards by extending the obligation to include information about the originator and beneficiary to CASPs – the so-called ‘travel rule’. It also amends Directive (EU) 2015/849 to subject CASPs, which are authorized in accordance with the Regulation (EU) 2023/1114 to the same AML/CFT requirements and AML/CFT supervision as credit and financial institutions. The deadline for competent authorities to report whether they comply with the Guidelines will be two months after the publication of the translations into the official EU languages. The amending Guidelines will apply from 30 December 2024. The EBA also published Guidelines on risk-based AML/CFT supervisors of crypto-asset service providers (CASPs) and Guidelines crypto-asset service providers to effectively manage their exposure to ML/TF risks, and is currently finalising the work on Guidelines on internal policies, procedures and controls to comply with restrictive measures that apply to CASPs as well as other financial institutions. Legal basis Article 36 (first and second subparagraphs) of Regulation (EU) 2023/1113 and Article 19a(2) of Directive (EU) 2015/849 mandate the EBA to issue guidelines to competent authorities, PSPs and CASPs on: (a) the measures those providers should take to comply with certain articles of Regulation (EU) 2023/1113; (b) the technical aspects of the application of this Regulation to direct debits; and (c) the measures, including the criteria and means for identification and verification of the identity of the originator or beneficiary of a transfer made to or from a self-hosted address. These Guidelines repeal with effect from 30 December 2024 the ‘Joint Guidelines under Article 25 of Regulation (EU) 2015/847 on the measures payment service providers should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information’ (JC/GL/2017/16).  Documents Guidelines on information requirements in relation to transfers of funds and certain crypto-assets transfers under Regulation (EU) 2023/1113 (760.98 KB - PDF) Download Related content GuidelinesFinal and awaiting translation into the EU official languages Guidelines on information requirements in relation to transfers of funds and certain crypto-assets transfers under Regulation (EU) 2023/1113

Nigerian Exchange Group Plc (NGX Group) is pleased to announce the appointment of Mr. Jude Chiemeka as the Chief Executive Officer of Nigerian Exchange Limited (NGX or The Exchange), its operating exchange subsidiary, effective July 1, 2024, following the Securities and Exchange Commission (SEC) approval. Since January 1, 2024, Mr. Chiemeka has been serving as the acting CEO of NGX, succeeding Mr. Temi Popoola, who transitioned to the role of Group Managing Director and Chief Executive Officer of NGX Group. Mr. Chiemeka brings close to three decades of experience in African securities trading and asset management to his new role. His career includes serving as Executive Director of Capital Markets at NGX and MD/CEO at United Capital Securities Limited. He also worked at leading investment banking firms in Nigeria such as Chapel Hill Denham Securities and Rencap Securities (Nigeria). A Fellow of the Chartered Institute of Stockbrokers, Mr. Chiemeka is an alumnus of the University of Lagos, Lagos Business School, and the University of Oxford, UK. The Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga, stated, ‘‘This strategic appointment aligns perfectly with our succession plan and reinforces the synergy we continuously foster across our group operations. Mr. Chiemeka's extensive experience and proven leadership qualities are invaluable assets that will propel NGX towards long-term success. Under his leadership, I am confident that NGX will play an even more pivotal role in contributing to the sustainable growth for both Nigeria's and Africa's economies”. Commenting on the appointment, Mr. Ahonsi Unuigbe, Chairman of Nigerian Exchange Limited, said, “The Board of NGX is pleased to confirm Mr. Chiemeka's appointment as CEO of The Exchange. It is our hope and expectation that he will drive growth and innovation, enhance our operational perspectives, democratize investment in the capital market, and unlock opportunities for investors’’. Mr. Temi Popoola, GMD/CEO, NGX Group on his part noted, “I am delighted to see Mr. Chiemeka step into the role of CEO of NGX. His extensive experience and deep understanding of our markets will be crucial in driving NGX's growth while aligning with our broader group strategy. I look forward to working closely with him to unlock value and to create new opportunities for stakeholders across the entire NGX Group ecosystem". Mr. Chiemeka remarked, “I am honored to be appointed as CEO of NGX at this critical period of The Exchange’s history and my sincere appreciation goes to the Boards of NGX Group and NGX. As we aim to build on our achievements and maximize value for all stakeholders, I look forward to forging strong collaborations with NGX’s exceptional team and the broader capital market community. We are committed to creating a more dynamic and inclusive exchange that fuels Nigeria's economic growth and competes on the global stage”.

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published the second Final Report under the Markets in Crypto-Assets Regulation (MiCA) covering eight draft technical standards that aim to provide more transparency for retail investors, clarity for providers on the technical aspects of disclosure and record-keeping requirements, and data standards to facilitate supervision by National Competent Authorities (NCAs).    The final report published today includes the following draft technical standards:  sustainability indicators for crypto-asset consensus mechanisms;  business continuity measures for crypto-asset service providers (CASPs);  trade transparency;  content and format of orderbooks and record-keeping by CASPs;  machine readability of white papers and the register of white papers; and  public disclosure of inside information.   The draft standards provide market participants with technical requirements to ensure human and machine readability of crypto-asset white papers, as well as templates and formats for CASP order and transaction records. The rules also detail how CASP trading platforms should publish the data required for pre-and post-trade transparency. Once in place, this will ensure that NCAs have access to the information needed for effective supervision of the EU crypto-asset market.    Finally, the report covers public disclosures, helping investors to understand the impact on the climate and the environment of the consensus mechanisms underpinning the crypto-assets they hold, as well as descriptions on how issuers should disclose price-sensitive information to the public to prevent market abuses, such as insider dealing.  Next Steps Once finalised, the draft technical standards will be submitted to the European Commission for adoption. The European Commission shall decide whether to adopt them within 3 months.   Related Documents Download All FilesDownload Selected Files DateReferenceTitleDownloadSelect 04/07/2024 ESMA12-766636679-320 Study on MiCA Whitepaper Data Formats 04/07/2024 ESMA75-453128700-1229 Final Report MiCA CP2

Domestic listing of ADQ’s inaugural issuance follows primary listing on the London Stock Exchange in April 2024   Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, announced today the secondary listing of the Abu Dhabi Development Holding Company’s (ADQ) $2.5 billion bond, first listed on the London Stock Exchange (LSE) in April 2024. The dual tranche bond, comprising a five-year $1.25 billion tranche and a ten-year $1.25 billion tranche, underscores ADX’s position as a diversified capital market and a dynamic platform for global investors. The bond issuance had been met with significant local and international investor demand and was oversubscribed 4.4 times, highlighting investor confidence in ADQ’s robust credit profile and the economic stability and prospects of Abu Dhabi. Abdulla Salem Alnuaimi, Group CEO of ADX, said: “We are delighted to host the secondary listing of ADQ’s $2.5 billion bond on ADX and play a part in supporting ADQ’s growth strategy and bolstering the development of Abu Dhabi’s economy. As one of the key pillars of the Emirate’s capital market, ADX will continue to provide an agile and dynamic investment platform and market infrastructure to enable companies like ADQ to achieve their objectives and further Abu Dhabi’s economic diversification agenda.” As an asset owner mandated to contribute to the sustainable development of Abu Dhabi’s economy, ADQ supports its portfolio companies in laying the foundations for future listings to optimize the funding structure and uphold best-in-class corporate governance. As of July 2024, ADQ’s portfolio encompassed eight companies listed on ADX, namely TAQA, AD Ports Group, Agthia Group, Emirates Steel Arkan, PureHealth, E7 Group, Modon Holding, and Abu Dhabi Aviation. With this listing, the number of debt instruments listed on ADX reaches 60.

In his address at the Opening Bell Ceremony, Korkmaz Ergun, the CEO of Borsa İstanbul A.Ş., stated the following: “Distinguished guests, Today, I welcome you all to your home, to the Opening Bell Ceremony hosted by our Exchange as we celebrate the listing of Seğmen Gıda at our Exchange. With more than 50 years of experience, Seğmen Gıda is a prominent, highly competitive and prestigious brand in the industry. The company offers the flavors of our country to the whole world by combining them with technology. We find it highly significant that real sector companies such as Seğmen Gıda, which are engaged in production, prefer to launch an IPO in order to finance their growth. Moreover, we attach great importance to further strengthening their corporate structures by capitalizing on the opportunities offered by capital markets in their journey towards institutionalization.  Distinguished guests, On this occasion, I would like to extend my thanks to the esteemed managers of our company and our intermediary institution who contributed to this IPO. I extend a warm welcome to Seğmen Kardeşler Gıda as it joins Borsa İstanbul family and wish this IPO to be auspicious for our capital markets.

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has reappointed three current members to its Management Board. The appointments took place at the Board of Supervisors meeting on 3 July 2024. The members who have been reappointed are: Thorsten Pötzsch, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin);  Rodrigo Buenaventura, Comisión Nacional del Mercado de Valores (CNMV) and Eduard Müller, Finanzmarktaufsicht (FMA) Their respective second terms will commence on 1 October 2024 and end on 31 March 2027. The Management Board, chaired by Verena Ross, Chair of ESMA, is responsible for ensuring that the Authority carries out its mission and performs the tasks assigned to it under its founding Regulation. The Management Board consists of: Verena Ross, European Securities and Markets Authority (ESMA); Vojtech Belling, Česká národní banka (CNB); Thorsten Pötzsch, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin); Armi Taipale, Finanssivalvonta (FIN-FSA); Vasiliki Lazarakou, Ελληνική Επιτροπή Κεφαλαιαγοράς (HCMC); Jos Heuvelman, Autoriteit Financiële Markten (AFM); Rodrigo Buenaventura, Comisión Nacional del Mercado de Valores (CNMV); Eduard Müller, Finanzmarktaufsicht (FMA) Natasha Cazenave, European Securities and Markets Authority (non-voting); and A European Commission representative (non-voting)

Total traded contracts at Eurex up 14 percent in June year-on-year. Interest rate derivatives at Eurex grew by 27 percent year-on-year in June. Notional outstanding in OTC Clearing increased by 5 percent compared to June 2023.   Eurex, Europe’s leading derivatives exchange, reports a 14 percent increase in traded contracts for June compared to the previous year, up from 182.1 million to 208.1 million contracts. Interest rate derivatives continued to record the largest increase, rising by 27 percent from 72.1 million to 91.5 million contracts. Equity derivatives grew by 12 percent to 28.9 million contracts, while index derivatives increased by 4 percent to 87.4 million traded contracts. In OTC Clearing the notional outstanding volumes experienced a 5 percent growth in June, reaching EUR 35,412 billion compared to EUR 33,623 billion in the same month in the previous year. The notional outstanding in overnight index swaps increased by 36 percent to EUR 3,773 billion, while the notional outstanding volumes in interest rate swaps rose by 7 percent, reaching EUR 15,189 billion. Eurex Repo, Eurex’s leading electronic market for secured funding and financing, reports an increase of overall daily repo volume of 7 percent year-to-date (January to June) compared to the same period in 2023, with GC Pooling growing by 17 percent for this period. However, June 2024 compared to June 2023 experienced a 16 percent decline in the average daily term-adjusted repo volumes, amounting to EUR 321.6 billion. Daily GC Pooling volumes decreased with 7 percent to EUR 156.7 billion while the Repo Market saw a decline of 22 percent to EUR 164.9 billion. Business overview – June 2024 June 2024 June2023 Change Financial derivatives: traded contracts Eurex Exchange Index derivatives (million) 87.4 83.7 +4% Interest rate derivatives (million) 91.5 72.1 +27% Equity derivatives (million) 28.9 25.9 +12% Total (million)1 208.1 182.1 +14% OTC Clearing2 Notional outstanding volumes (billion EUR) 35,412 33,623 +5% of which interest rate swaps (billion EUR) 15,189 14,162 +7% of which overnight index swaps (billion EUR) 3,773 2,775 +36% Average daily cleared volumes (billion EUR) 200 173 +16% of which interest rate swaps (billion EUR) 35 20 +77% of which overnight index swaps (billion EUR) 21 13 +58% Compression volumes (billion EUR) 0 0 N/A Repo: Average daily term adjusted volume on Eurex Repo GC Pooling3 (billion EUR) 156.7 168.6 -7% Repo Market (billion EUR) 164.9 212.5 -22% Total (billion EUR) 321.6 381.2 -16% 1 The total number of contracts traded includes other asset classes such as commodities.2 Notional cleared volumes including post trading events such as compression.3 Includes all currencies.  

This new functionality will allow trading participants to seek contra liquidity in larger size, whilst minimising the price impact of resting orders or seeking price improvement on aggressive orders.   Starting in December, BME will incorporate a new functionality to its Smart platform called SpainAtMid, a non-displayed pool which will allow the trading of equities at the BBO mid-point of BME's central limit order book (CLOB). This functionality will be available  during the continuous trading phase and support the execution of resting, immediate and sweep orders. A separate MIC Code has been registered for SpainAtMid  and it has been designed to operate on the same atomic matching cycle as the BME CLOB.  This ensures that there is no latency cost in seeking price-improvement at the mid-point when sweeping through SpainAtMid to aggress a displayed price on the CLOB.  Also it ensures that trades are always executed at the current PBBO mid-point price (i.e. never at a stale price). Trading participants will be able to specify how their market and limit orders interact with SpainAtMid in two ways: Direct: Orders can be flagged to be routed to SpainAtMid only, where they will remain until execution at the prevailing mid-point or until they are cancelled. Sweep: Orders can be flagged to be routed firstly to SpainAtMid, (for execution at the prevailing mid-point) and then any remaining unexecuted portion will be routed to the Central Limit Order Book where it will remain until it is either fully executed or cancelled.   According to the current estimated release schedule, this new functionality will be implemented in the test environment on September 30, 2024 and will go live into production on December 9, 2024.