At the end of the settlement date of July 31, 2025, short interest in 3,285 Nasdaq Global MarketSM securities totaled 13,683,072,188 shares compared with 13,792,841,090 shares in 3,260 Global Market issues reported for the prior settlement date of July 15, 2025. The mid-July short interest represents 2.15 days compared with 2.37 days for the prior reporting period. Short interest in 1,658 securities on The Nasdaq Capital MarketSM totaled 2,910,549,464 shares at the end of the settlement date of July 31, 2025, compared with 2,853,251,720 shares in 1,647 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00. In summary, short interest in all 4,943 Nasdaq® securities totaled 16,593,621,652 shares at the July 31, 2025 settlement date, compared with 4,907 issues and 16,646,092,810 shares at the end of the previous reporting period. This is 1.56 days average daily volume, compared with an average of 1.84 days for the prior reporting period. The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller. For more information on Nasdaq Short interest positions, including publication dates, visithttp://www.nasdaq.com/quotes/short-interest.aspxor http://www.nasdaqtrader.com/asp/short_interest.asp.  

NYSE today reported short interest as of the close of business on the settlement date of October 31, 2025. SETTLEMENT DATE EXCHANGE TOTAL CURRENT SHORT INTEREST TOTAL PREVIOUS SHORT INTEREST (Revised) NUMBER of SECURITIES with a SHORT POSITION NUMBER of SECURITIES with a POSITION >= 5,000 SHARES 10/31/2025 NYSE 15,611,016,295 15,549,751,862 2,872 2,557 10/31/2025 NYSE ARCA 2,309,714,648 2,310,292,776 2,457 1,667 10/31/2025 NYSE AMERICAN 806,994,440 873,832,083 296 243 10/31/2025 NYSE GROUP 18,642,710,918 18,733,876,721 5,625 4,467 *NYSE Group includes NYSE, NYSE American and NYSE Arca           Reports will be archived here.

Apollo, Franklin Templeton, KKR and Morgan Stanley are the first clients to join the platform Permissioned blockchain technology that substantially reduces transaction times and operational friction to support expanded private market access Corastone, the hyperscaler for private market investing, today announced that its platform is now live with Apollo, Morgan Stanley and a leading transfer agent supporting the process with integrated services, with Franklin Templeton and KKR set to follow. As exposure to private markets becomes increasingly popular, broader participation will be achieved by continuing to streamline processes and lowering costs. Corastone’s digitally native and efficient infrastructure connects all participants in the investment lifecycle with end-to-end automation, real-time data and unparalleled speed and scalability. Through partnerships with leading institutions, Corastone is transforming the client experience for alternatives by condensing manual workflows. Built on permissioned blockchain technology, Corastone serves as the new fabric of the private markets, delivering smoother counterparty access and institutional-quality security and accuracy. By concentrating exclusively on digital infrastructure, Corastone provides technology that is neutral and conflict-free, ensuring its platform operates in full alignment with the interests of every participant. Unlike legacy solutions that require multiple systems and point-to-point integrations, Corastone connects general partners (GPs), wealth managers and fund administrators on a single shared platform. With subscriptions already live on the platform, Corastone’s technology streamlines onboarding and automates transaction workflows, enabling asset managers to innovate faster, wealth managers to expand client access, and fund administrators to achieve greater operational scale. Capabilities for handling capital calls, valuation updates, redemptions and transfers will follow. With all participants working from a common data and transaction layer, the platform also reduces operational risk and supports the development of new private market investment products and distribution models. “We are thrilled to see the Corastone platform live with such a distinguished group of industry leaders,” said Rashad Kurbanov, Co-Founder & CEO at Corastone. “This milestone validates our vision for how private markets should operate: faster, more transparent and ready to scale. We look forward to powering innovation and efficiency for all market participants.” Client Quotes: Franklin Templeton – “As private markets solutions continue their trajectory toward mainstream adoption, it is imperative that our industry evolves to deliver a more streamlined, efficient, and client-centric experience. Advancing automation, standardization, and operational efficiency will be essential to this transformation. We believe Corastone’s technology will be a key driver of this progress, and we are excited to partner with them to reduce friction across the private markets ecosystem and to deliver improved outcomes for private markets investors.” – George Stephan, Global Chief Operating Officer – Private Markets Wealth Management KKR –”Innovations in product structure are making high-quality private markets investments more accessible, but complex operational processes continue to create barriers to entry, ultimately impacting the investor experience. We are pleased to collaborate with this group of industry leaders to support Corastone’s growth in unlocking greater participation in the private market ecosystem.” – Doug Krupa, Head of Global Wealth Solutions in the Americas Morgan Stanley – “As the private markets space has become more ubiquitous among investors, we’re focused on breaking down barriers to deliver innovative investment solutions to our clients. Working with Corastone on this new initiative that unlocks efficiencies for our teams aligns with that commitment. ” – Alison Nest, Head of Investment Solutions Products For additional information, see “Alternatives at Hyperscale: A Practical Guide to Closing the Infrastructure Gaps in Private Markets,” HERE.

Nigerian Exchange (NGX) today hosted the Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, at the Closing Gong Ceremony to commemorate the listing of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF) Series 2. The event underscored the capital market’s pivotal role in national development, particularly in addressing Nigeria’s housing deficit. The listing took place against the backdrop of cautious trading in the equities market, as investors recalibrate portfolios in response to geopolitical tensions arising from the US–Nigeria diplomatic standoff, the proposed Capital Gains Tax (CGT), year-end portfolio rebalancing, and expectations of window-dressing by institutional players. While liquidity remains robust, analysts emphasize that aligning fiscal policy with investor expectations is critical to sustaining confidence and deepening long-term market participation. Temi Popoola, Group Managing Director/Chief Executive Officer, NGX Group, reaffirmed the capital market’s role as a catalyst for inclusive growth and called on the Federal Government to ensure balanced outcomes in the implementation of the Capital Gains Tax. “The capital market is not only a platform for attracting investment but also a tool for creating wealth for Nigerians. Policies such as the capital gains tax must be carefully designed to balance government revenue objectives with investor confidence and market growth. NGX Group remains committed to supporting the Renewed Hope Agenda by channeling private capital into initiatives that deliver sustainable, long-term impact.” Responding, Mr. Wale Edun assured stakeholders that the Federal Government has noted the concerns around Capital Gains Tax and remains committed to ongoing consultation with the market. “We have noted the concerns around Capital Gains Tax and will continue to engage with the capital market to ensure any decisions deliver optimal outcomes for both Nigerians and the market. At ₦100 per unit, MREIF allows ordinary Nigerians to participate in savings and investment, leveraging local resources to grow our economy, especially in the housing sector.” The ceremony also highlighted the strength of collaboration between the Federal Government, MOFI, and the private sector in mobilising innovative financing for housing. Ahonsi Unuigbe, Chairman, NGX, described the listing as a “defining step toward transforming Nigeria into a leading economy that ensures shared prosperity for all Nigerians.” In his remarks, Jude Chiemeka, CEO, NGX, said MREIF demonstrates how the capital market can deliver practical solutions to national challenges: “By channeling private capital into housing, we are creating opportunities for long-term investment and wealth creation while addressing Nigeria’s housing deficit.” Dr. Armstrong Ume Takang, Managing Director/CEO, MOFI, added: “MREIF provides long-term, low-cost mortgage financing to make homeownership a reality for millions of Nigerians, stimulating local economies across the housing value chain.” The Closing Gong Ceremony positioned MREIF as a model for inclusive economic growth, illustrating how institutional capital can drive both financial stability and social impact. With over 1,000 mortgages already disbursed, the initiative continues to expand middle-class wealth and deepen Nigeria’s capital market.

ISDA and the Credit Derivatives Governance Committee have issued an invitation to tender for an independent regulated entity to serve as the administrator for the Credit Derivatives Determinations Committees (DCs), which includes assuming the role of DC secretary. The DC secretary is responsible for various administrative tasks, including distributing questions submitted by eligible market participants to the relevant DC members, convening DC meetings and publishing the results of DC votes. The DC secretary does not vote on whether credit events have occurred. DC Administration Services, Inc. has performed the secretariat function since 2018. The DC administrator will be responsible for: Performing all DC secretary administrative duties. Building, maintaining and operating a replacement DC website. Building, maintaining and operating all infrastructure required to administer the DC process. Working with the Credit Derivatives Governance Committee to continue improving the DC rules to ensure the long-term viability of the DCs and meet market expectations for efficiency and transparency in credit event determinations. Interested parties should email fquenzer@isda.org to receive a copy of a detailed requirements document by November 21, with a deadline for submissions of January 9, 2026. The successful bid will be announced in the first quarter of 2026. The invitation to tender is the latest in a series of measures to strengthen DC processes and follows publication by ISDA of the results of a consultation on proposed changes to the DCs last year. The consultation, conducted by Boston Consulting Group, was based on recommendations proposed by Linklaters as part of an independent review on the composition, functioning, governance and membership of the DCs. In May, ISDA published a proposal for a new governance committee for the DCs. The governance committee was subsequently established in July 2025. “Having an independent regulated entity serve as DC administrator is another step forward in efforts to strengthen the DC process. The administrator will execute the agreed structural changes to the DCs, such as adding independent members and implementing increased transparency, and will have full responsibility to implement the reforms mandated by the Credit Derivatives Governance Committee to ensure the Determination Committees continue to function as a trusted and essential derivatives market infrastructure,” said Katherine Tew Darras, ISDA’s General Counsel. The DCs were introduced in 2009 as a centralized decision-making body to enable a standardized auction settlement process and ensure central clearing could be implemented for credit derivatives. Although ISDA does not control the DC rules and is not involved in the decision-making process or administration of the committees, ISDA has an interest as a global trade association for derivatives in ensuring the DCs continue to function robustly. Documents (1)for ISDA and the Credit Derivatives Governance Committee Issue Invitation to Tender for DC Administrator Role ISDA and the Credit Derivatives Governance Committee Issues Invitation to Tender for DC Administrator Role(pdf)

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., president and CEO, on the current status of the government shutdown: “SIFMA is encouraged that Congress appears to be moving to an agreement to reopen the government. It is better when the government is open and operating and we welcome the progress towards restoring normal operations.”

The Ontario Securities Commission (OSC) is warning Ontario investors that the following companies are not registered to deal or advise in securities in Ontario: Arquette Insurance and Wealth Management PT-Option ZenithX24 Nord Financial Services Ltd. dba Nexma.pro MGX Foundation Canada Economic Union At the OSC, we issue investor warnings and alerts about possible harmful or illegal activity in progress, and maintain a warning list of companies or individuals performing activities that may pose a risk to investors. A full list of OSC investor warnings and alerts is available on the OSC’s website. Investors can sign up for email notifications when new warnings and alerts are issued and can follow the OSC’s X feed at @OSC_News Ontarians who have been approached by any of the individuals or firms listed above, or any other unregistered company or individual, are advised to contact the OSC Contact Centre at 1-877-785-1555 or via email at inquiries@osc.gov.on.ca Always check the registration of any person or business trying to sell you an investment or give you investment advice. This can be done by visiting the Check Before You Invest or the Crypto businesses pages on the OSC website. 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 https://www.osc.ca.

The 13th edition of the European Small and Mid-Cap Awards was celebrated tonight during the SME Assembly, taking place in Copenhagen (Denmark). The Awards were organized by the Federation of European Securities Exchanges (FESE), EuropeanIssuers and the European Commission’s Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs; with the European Investment Fund (EIF) joining as a partner this year for the first time. The Awards aim to highlight the best small and mid-cap companies that have gone public in the preceding two calendar years and made significant contributions to innovation, sustainability, and economic growth in Europe. In this way, they promote the benefits of stock listing and encourage more SMEs to consider capital markets as a viable path for expansion, while showcasing the diversity, resilience, and entrepreneurial spirit of Europe’s SME sector. An independent jury assessed the companies, which were nominated in four categories: “Rising Star” was awarded to an outstanding SME with a market capitalisation up to €200m and notable growth potential; “International Star” was awarded to a company taking advantage of opportunities outside its own country and reaching impressive results in terms of international sales, profit and market share growth; “Star of Innovation” was awarded to a company that offers future potential through innovation and centres innovation in its strategy for business development; “Star of Sustainability” was awarded for the first time this year to a company embedding ESG issues into company policies and practices, i.e. supporting its sustainability goals through ESG-friendly solutions and/or the issuance of sustainable finance instruments. This year, the “Star of 2025” prize was assigned to a company selected among all the nominees to the four categories, giving recognition to the most remarkable entry overall. The Jury also assigned a “Special Mention”, to highlight an initiative, an individual or a company that has spent significant efforts to improve access for small and mid-cap companies to capital markets.   Stéphane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy said: “Unlocking access to EU capital markets is essential for scaling European businesses and driving innovation. This year’s nominees showcased remarkable achievements, with the winning SMEs demonstrating remarkable international relevance, outstanding growth and innovative business strategies. With these awards, we hope to encourage more European businesses to follow their paths and explore the opportunities offered by public markets.” Niels Brab, President of FESE, added: “These awards shine a spotlight on successful European IPOs, underscoring the transformative impact that listing on capital markets can have for businesses seeking growth and visibility. For SMEs, going public is a remarkable achievement worth celebrating, even though only one company per category gets the top prize in the Awards. SMEs are the backbone of Europe’s economy: they generate employment, drive innovation, and champion resilience. Supporting their journey, as we do through these Awards, is key to advancing Europe’s ambitions and strategic priorities.” Luc Vansteenkiste, Chairman of EuropeanIssuers, commented: “My warmest congratulations to all the shortlisted companies and the winners of the Awards.These companies exemplify the strength and potential of Europe’s issuers, as well as the courage and vision of SMEs that chose to list. Access to capital markets is not just a financial milestone; it also enables innovation, enhance competitiveness, and support sustainable growth. We remain committed to ensuring that the regulatory environment supports their journey, balancing harmonization with the diverse needs of local businesses.” Marjut Falkstedt, Chief Executive, European Investment Fund, said: “The success stories celebrated today demonstrate how listing can unlock new opportunities, attract investment, and strengthen business foundations. SMEs play a key role building a more inclusive and resilient economy. We remain committed to empower them by improving access to finance across all stages of development: alongside private funding, access to capital markets is vital, especially for companies looking to scale sustainably and compete globally.”     The winners are…   Rising StarHighlighting outstanding newly listed SMEs with a market capitalisation of up to €200 million       Nordrest is a pure foodservice company focused on natural guest flows and contract-based meal solutions. Founded in 2014 by CEO Thomas Dahlstedt, the company has systematically built its position as one of Sweden’s largest private foodservice providers, operating more than 200 units across 11 regions serving essential sectors including Defence, Corporate, Schools, Campus, Healthcare & Elderly Care, and Travel.   Nordrest is listed on Nasdaq Sweden.     International StarShowcasing newly listed small and mid-cap companies with impressive international sales, profits, and market share growth       Next Geosolutions is an international provider of marine geoscience services and offshore construction support, which operates mainly in the energy sector, with a particular focus on renewable energy and sustainability in all its forms.   Founded at the end of 2014, the NextGeo Group carries out marine surveys (so-called geophysical and geotechnical surveys), as well as other offshore construction support activities, both in the national and international markets, for companies operating in the sectors of submarine power cables (Interconnector), offshore renewable energy (offshore wind farms) and Oil & Gas. With expertise in seabed survey operations, an asset-light model, a solid track record in executed projects and a key recurring client base,  NextGeo is well positioned to capitalize on the growth in the renewable energy sector. Next Geosolutions is listed on Euronext Milan.     Star of InnovationCelebrating newly listed SMEs that place innovation at the centre of their business development strategy   THEON INTERNATIONAL is a European company engaged in the development and manufacture of customizable night vision and thermal imaging systems for military and security application. Its product range includes night and thermal vision devices, as well as sensors for movement detection.   THEON INTERNATIONAL is listed on Euronext Amsterdam.     Star of SustainabilityListed small and mid-caps that place corporate citizenship and good governance at the core of their strategy and operations         I.CO.P. is an underground engineering company active nationally and internationally in the fields of special foundations, microtunnelling and maritime works, founded in 1920 by the Petrucco family. First benefit company in the sector, ICOP operates in the United States through its subsidiary AGH and directly in major European markets, supporting high-profile clients – with whom it maintains long-term relationships – in highly complex projects related to the development of critical infrastructures (e.g. subways in Paris, Copenhagen, etc.) and the strengthening of energy and water transport networks (e.g. gas pipelines, aqueducts). The group is based in Basiliano (UD) and employs approximately 760 people worldwide.   I.CO.P. is listed on Euronext Milan.     Special MentionRecognising outstanding efforts to raise awareness or address the key obstacles small and mid-cap companies face in accessing public financing, and to improve their access to capital markets   QUOTA LOMBARDIA   Quota Lombardia is a programme designed to facilitate the entry of local SMEs onto stock exchanges. This measure supports SMEs based in Lombardy that have already begun, or are preparing for a process of capitalisation through listing on multilateral trading facilities. Covering the three-year period from 2025 to 2027, Quota Lombardia offers a grant that covers 50% of the eligible costs incurred for listing, up to a maximum of €600,000. This financial support is made possible through a combination of European, national and regional funds. This project offers concrete support to address some difficulties SMEs may face in accessing markets, such as the costs and complexities associated with listing on a stock exchange. Moreover, it strengthens the competitiveness of local enterprises on national and international markets and it encourages innovation and modernisation. Quota Lombardia was nominated by Euronext Milan.     Star of 2025Chosen as the best overall entry from among the nominees to the four categories: Star of Innovation, International Star, Rising Star, and Star of Sustainability   Nordrest is a pure foodservice company focused on natural guest flows and contract-based meal solutions. Founded in 2014 by CEO Thomas Dahlstedt, the company has systematically built its position as one of Sweden’s largest private foodservice providers, operating more than 200 units across 11 regions serving essential sectors including Defence, Corporate, Schools, Campus, Healthcare & Elderly Care, and Travel.   Nordrest is listed on Nasdaq Sweden.     Notes to editors:   The runners-up were the following:   Category ‘Rising Star’ ByteTravel listed on BME, SIX Group Odyssée Technologies listed on Euronext Paris Category ‘International Star’ Cox Group listed on BME, SIX Group Steyr Motors listed on Deutsche Börse Group Category ‘Star of Innovation’ Apotea listed on Nasdaq Sweden SYS-DAT listed on Euronext Milan Category ‘Star of Sustainability’ EBRO EV Motors listed on BME, SIX Group VERTIKAL Group listed on Budapest Stock Exchange     About the European Small and Mid-Cap Awards The objective of the Awards is to promote best practices and highlight the best European Small and Mid-Sized Companies that have gained access to capital markets via an Initial Public Offering (IPO). They showcase the diversity of European markets, and aim to promote stock listings, in particular targeting SMEs and growth companies. These companies are critical to accomplishing the EU’s goals of job creation, competitiveness, and growth. https://europeansmallandmidcapawards.eu/   The Awards Jury The shortlisted companies are chosen by an independent jury: Detlef Fechtner, EU Correspondent, Börsen-Zeitung Eglė Fredriksson, Portfolio Manager, East Capital Ekaterina Gianelli, Partner, Inventure Martin Hock, Finance Editor, Frankfurter Allgemeine Zeitung (F.A.Z.) Phaedon Tamvakakis, Vice Chairman, Alpha Trust Investment Services     About the European Commission The Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) of the European Commission develops and implements a range of policies to improve access to finance for SMEs in the EU. SMEs are critical to European economic recovery and to accomplishing the EU’s goals of job creation, competitiveness and growth. For more information, please visit https://ec.europa.eu/growth/access-to-finance_en.   About the European Investment Fund (EIF) The European Investment Fund (EIF) is part of the European Investment Bank Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.   About EuropeanIssuers EuropeanIssuers is a pan-European organisation representing the interests of publicly quoted companies across Europe to the EU Institutions. We seek capital markets that serve the interests of their end users, including issuers. For more information, please visit www.europeanissuers.eu.   About FESE The Federation of European Securities Exchanges (FESE) is the unique voice of European exchanges, advocating for fair, transparent and efficient capital markets to support growth and prosperity in Europe. We are committed to financing the economy, ensuring financial stability, and fostering sustainable development. https://www.fese.eu/  

Fifteen shortlisted teams from around the world competed to develop innovative technological solutions to address trust and integrity in finance. Solutions aim to establish trust among financial institutions through digital identity solutions, improve the ability of small and medium-sized enterprises to finance through credit data portability, and drive wider adoption of fast payment systems globally by mitigating fraud and cyber risks. The winning teams are Team Ownapay SA (Proprietary) Ltd, Team Silence Laboratories Pte Ltd and Team FNA and Proto. The Bank for International Settlements (BIS) and the South African Reserve Bank (SARB), under the South African G20 Presidency, today announced the winners of the G20 TechSprint 2025 challenge on trust and integrity in finance. The G20 TechSprint is a joint initiative between the G20 Presidency and the BIS Innovation Hub to seek out best-in-class technological innovations aimed at solving challenges facing the global central banking and regulatory community. This year's TechSprint, the sixth edition of the G20 global hackathon open to developers from around the world, was launched in May. Fifteen shortlisted teams presented their solutions to an independent panel of judges convened by the SARB in South Africa. Following are the winners for each of the three problem statements: Ownapay SA (Proprietary) Ltd, from South Africa, won the category for problem statement 1, which invited submissions on developing digital identity solutions: establishing trust among financial institutions through innovative, verifiable and privacy-preserving digital identity technologies. Silence Laboratories Pte Ltd, from Singapore, won the category for problem statement 2, which focused on credit data portability: improving the ability of small and medium-sized enterprises to finance through secure, consumer-consented data exchange solutions that facilitate seamless cross-border sharing of credit information. FNA and Proto, from the United Kingdom, won the category for problem statement 3, which called for solutions to mitigate fraud and cyber risks: driving wider adoption of fast payment systems globally – and promoting financial inclusion and economic growth – through technology designed to reduce fraud and cyber risks.   The 2025 edition of TechSprint has addressed trust and integrity, while advancing scalability and promoting financial inclusion. Thank you to all who contributed for your curiosity, discipline and commitment to a more open and trusted financial future.   Pablo Hernández de Cos, General Manager of the BIS   As policymakers, our unwavering commitment to fostering innovation is crucial. The G20 TechSprint has once again shown that some of the most scalable and forward-thinking solutions to global financial challenges can emerge from fintech start-ups in small towns as well as seasoned developers in global hubs. Hosting the TechSprint on African soil for the first time revealed the depth of talent and ingenuity across our continent and beyond. The solutions put forward underscore the urgent need to build open, trusted and inclusive financial systems that transcend borders and serve everyone.   Lesetja Kganyago, Governor, SARB Shortlisted teams Problem statement 1 Currency Network Ltd Meeco Ownapay SA (Proprietary) Ltd  Settlefirst Assetsworks Private Ltd  walt.id Problem statement 2 Akiba Digital (Pty) Ltd  A team of eight individuals led by Amit Bapat1  eSusFarm Africa  Silence Laboratories Pte Ltd Smile Technology Pte Ltd 1  Full list of team members: Rakesh Ranjan, Brijesh Baisakhiyar, Vinodh Rajkumar, Hrishikesh Nashikkar, Amit Bapat, Ashoo Jain, Utkarsh Jaiman, Keerthika Dhadapani. Problem statement 3 Banfico VOP  ContexQ  FNA and Proto  Kasikorn Soft Company Ltd  Mastercard  List of judges Dr Joseph Atick, Executive Chairman, ID4Africa Mr Raymond Chan, Executive Director (Enforcement and AML), Hong Kong Monetary Authority Ms Mary Beth Christie, Independent non-Executive Director, Open Banking UK Ms Violaine Clerc, Executive Secretary, Financial Action Task Force Mr Jeremy Gray, Technical Director, Cenfri Ms Gail Hodges, Executive Director, OpenID Foundation Mr Guilherme Themes Miguel Jose, Head of Division at the Financial System Regulation Department, Central Bank of Brazil Mr Stephen Linnell, Chief Executive Officer, PayInc Mr Mark Munne, Head of Technology, Nexus Global Payments Mr Kwame Oppong, Former Head FinTech and Innovation, Bank of Ghana Mr P Vasudevan, Executive Director, Reserve Bank of India Related information G20 TechSprint 2025 - Trust and integrity in scalable and open finance

The International Organization of Securities Commissions (IOSCO) today published its Final Report (“Report”) on the Tokenization of Financial Assets. The financial sector has been actively exploring distributed ledger technology (DLT) to deliver services and tokenize financial assets. While tokenization may enhance efficiency and transparency, it also introduces new risks — or amplifies existing ones — that regulators must understand and address to protect investors. The Report seeks to build a shared understanding among IOSCO members of how tokenization is being adopted across capital markets and how regulators are responding. It examines potential implications for market integrity and investor protection to guide members in shaping effective regulatory responses. Developed by IOSCO’s Fintech Task Force (FTF), the Report draws on IOSCO’s analyses of commercial use cases (such as tokenized money market funds and fixed income instruments), and extensive stakeholder engagement through industry and academic roundtables. These inputs provided a comprehensive view of market practices, regulatory approaches, and challenges in financial asset tokenization. Key Findings Tokenization is growing but remains nascent. Commercial interest is rising, but adoption is still limited. Interoperability challenges and the lack of credible settlement assets hinder scalability. Efficiency gains are uneven. Tokenization can shorten settlement cycles and improve collateral mobility, but many market participants still rely on traditional infrastructure for trading and post-trade processes. Risks are familiar but evolving. Legal uncertainty, operational vulnerabilities, and cyber risks mirror existing risk categories but manifest differently under DLT, requiring tailored risk controls. Regulatory approaches vary. Some IOSCO members apply existing frameworks; others have issued new guidance, sandbox programs, or bespoke requirements. Consistent with the principle of “same activities, same risks, same regulatory outcomes”, IOSCO encourages regulators to consider applying its Policy Recommendations for Crypto and Digital Asset Markets and Policy Recommendations for Decentralized Finance in the context of tokenized financial assets. “This report reflects our commitment to understanding emerging technologies and their impact on global capital markets. As tokenization continues to evolve, this report provides timely insights into its adoption, associated risks, and the regulatory considerations related to market integrity and investor protection. It also contributes to IOSCO’s analysis of financial innovation by identifying shifts in market roles and infrastructure models that are emerging in tokenized financial assets.” - Jean-Paul Servais, Chair of IOSCO’s Board “This report underscores IOSCO’s and the Fintech Task Force’s commitment to developing a deep understanding of real-world tokenization applications and challenges. Through its analysis of lifecycle activities and emerging risks, it equips IOSCO members with insights to navigate evolving market structures while safeguarding market integrity and investor protection. Although adoption remains limited, tokenization has the potential to reshape how financial assets are issued, traded, and serviced. Members developing regulatory approaches for tokenized financial assets would find it useful to refer to the Policy Recommendations for Crypto and Digital Asset Markets and the Policy Recommendations for Decentralized Finance.” - Tuang Lee Lim, Chair of IOSCO’s Board-Level Fintech Task Force

LSEG announces it has purchased the following number of its ordinary shares of 679/86 pence each from Citigroup Global Markets Limited ("Citi") on the London Stock Exchange as part of its share buyback programme, as announced on 04 November 2025. Date of purchase: 10 November 2025 Aggregate number of ordinary shares purchased: 207,500 Lowest price paid per share: 8,996.00p Highest price paid per share: 9,326.00p Average price paid per share: 9,144.31p   LSEG intends to cancel all of the purchased shares. Following the cancellation of the repurchased shares, LSEG has 516,023,762 ordinary shares of 679/86 pence each in issue (excluding treasury shares) and holds 24,051,599 of its ordinary shares of 679/86 pence each in treasury. Therefore, the total voting rights in the Company will be 516,023,762. This figure for the total number of voting rights may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) (as such legislation forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018, as implemented, retained, amended, extended, re-enacted or otherwise given effect in the United Kingdom from 1 January 2021 and as amended or supplemented in the United Kingdom thereafter), a full breakdown of the individual purchases by Citi on behalf of the Company as part of the buyback programme can be found at: http://www.rns-pdf.londonstockexchange.com/rns/9556G_1-2025-11-10.pdf Schedule of Purchases Shares purchased:       207,500 (ISIN: GB00B0SWJX34) Date of purchases:      10 November 2025 Investment firm:         Citi Aggregate information: Venue Volume-weighted average price Aggregated volume Lowest price per share Highest price per share London Stock Exchange 9,144.31 207,500 8,996.00 9,326.00 Turquoise        

Solactive is pleased to announce its collaboration with Samsung Active Asset Management on the launch of the KoAct US Biohealthcare Active ETF, which uses the Solactive US Biohealthcare Index as a benchmark. The product aims to provide investors with targeted exposure to US-listed biotechnology and biopharmaceutical companies, reflecting the momentum of groundbreaking healthcare innovation. The US biohealthcare sector is undergoing a rapid transformation, reaffirming its role as the world’s leading hub for biotechnology innovation. Advances in precision medicine, gene editing, and mRNA platforms are transitioning from research to commercialization, while artificial intelligence is accelerating drug discovery and development. Supported by regulatory initiatives from the US Food and Drug Administration (FDA), these innovations are shortening approval timelines and strengthening the country’s leadership in medical advancement. Combined with long-term demographic drivers such as aging populations and chronic disease prevalence, as well as progress in emerging areas like cell and gene therapies, the US biohealthcare industry continues to demonstrate resilience and sustained growth potential within the global life sciences landscape. The Solactive US Biohealthcare Index is designed to reflect this growth story by selecting 90 US-listed companies across the biotechnology and biopharmaceutical industries. The index applies a market capitalization-based weighting scheme, capping the three largest companies at 10% and all others at 3%. By leveraging Solactive’s robust rules-based methodology, the index provides diversified exposure to the US as the global hub of biotech innovation. The ETF listed on 11 November 2025 on the Korea Exchange (KRX) with the ticker code “0113G0 KS”.  Timo Pfeiffer, Chief Markets Officer at Solactive, commented: “The Solactive US Biohealthcare Index captures the structural and technological tailwinds transforming the healthcare industry. By combining exposure to established leaders and emerging innovators, the index delivers a comprehensive representation of US biohealthcare – a sector that remains at the forefront of global medical advancement.” Samsung Active Asset Management, commented: “We are pleased to announce our collaboration with Solactive, featuring an actively managed ETF that targets key biohealthcare leaders listed in the U.S. Recognizing the vital importance of the biohealthcare sector in shaping the future of global innovation, this ETF provides investors with direct exposure to pioneering companies at the forefront of medical advancements. At Samsung Active Asset Management, we are dedicated to delivering products that empower investors to seamlessly engage with transformative global market opportunities.”

BMLL, one of the world’s leading independent providers of historical data and analytics, has been selected to support EuroCTP as part of the EU’s Consolidated Tape initiative. One of the keys behind the future success of the consolidated tape for equities is the quality of the data itself. Thanks to this collaboration, EuroCTP will be in a position to validate its data quality control designs, and calibrate the thresholds and parameters for those controls ahead of go live, should EuroCTP be selected.  BMLL’s experienced data scientists, in combination with the breadth of its data sets and flexible analytics tools, offer EuroCTP a solid base with which it will be able to breach the historical data gap inherent to a new data product launch at onset. In addition to providing access to its data sets covering more than 100 trading venues, BMLL will share its expertise to support EuroCTP in delivering a fully mature product by mid-2026. Paul Humphrey, Chief Executive Officer of BMLL, said: "By offering our historical data and analytics to EuroCTP, BMLL is pleased to contribute to the implementation of the EU consolidated tape for equities and ETFs giving investors clearer, faster, and more reliable insights than ever before." Alicia Suminski, Principal Product Manager of EuroCTP, added: “As of day one, EuroCTP has strived to develop the highest level of quality in the consolidated tape data for the European Union. By working with such an experienced provider of historical data and analytics, EuroCTP will be  making it easier for everyone, from the institutions to everyday investors to access and trust the information they need.”

We are delighted to announce that the Association of National Numbering Agencies (ANNA) has won two awards:  ‘Best Reference Data Provider’ for the ANNA Service Bureau (ASB), and ‘Digital Assets Industry Collaboration of the Year’ for its partnership with the Digital Token Identifier Foundation (DTIF) at the Regulation Asia Awards for Excellence 2025.   As Asia-Pacific's leading regulatory awards programme, these awards recognise financial institutions, technology providers, regulators, policymakers, and advisory firms that are shaping and adapting the evolving APAC regulatory landscape. The programme celebrates those driving progress in compliance, managing risks, fostering resilience, and safeguarding market integrity.  ANNA is the central membership organisation for global 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). The ‘Best Reference Data Provider’ award recognises the ANNA ASB, which serves as the definitive global source for financial and referential instrument identification data, providing the world’s only directly sourced collection of ISIN codes and related reference information. Through its centralised platform for standardised identifier data, the ASB supports organisations in meeting compliance obligations and assists authorities with their oversight capabilities. The ‘Digital Assets Industry Collaboration of the Year’ acknowledges the ANNA/DTI Foundation partnership which was launched in October 2023 to facilitate the introduction of an innovative new International Securities Identification Number (ISIN) to identify crypto assets.  ANNA’s new XT-ISIN and the DTI Foundation’s Digital Token Identifier (DTI) are complementary and interoperable ISO identifiers with distinct yet connected functions, jointly enhancing market transparency. Their integration simplifies processes, reduces costs, and strengthens overall market interoperability. Stephan Dreyer, Managing Director of ANNA, said: "We are so proud that ANNA has been recognised with not one, but two, awards at the Regulation Asia Awards for Excellence. The ASB and the ANNA/DTIF partnership are designed to support the ever-changing demands of regulatory evolution, hence it is an honour to be acknowledged for the ongoing development of a financial instrument identifier framework that underpins the integrity of the APAC, and all global, financial systems.” For information about ANNA, its members and activities, please visit anna-web.org.

We are delighted to announce that the Derivatives Service Bureau (DSB) has won ‘Outstanding Regulatory Initiative of the Year, Capital Markets’ at the Regulation Asia Awards for Excellence 2025. The awards celebrate firms that are at the forefront of supporting APAC’s evolving regulatory landscape.The DSB has been recognised for the ongoing delivery of the global Unique Product Identifier (UPI) Service for OTC derivatives. The UPI Service directly addresses a long-standing challenge of transparency in OTC derivatives markets that contributed to the financial crisis and supports post-crisis regulatory reforms. By uniquely identifying an OTC derivative at the product level, the UPI enables authorities to aggregate OTC derivatives transactions and monitor the build-up of systemic risk.  Rollout of the UPI Service across G20 jurisdictions began in 2024 and over the last two years, the UPI Service has played a pivotal role in advancing the harmonisation of regulatory reporting standards on a global scale. The DSB has supported the onboarding of ten G20 jurisdictions, including five within the Asia-Pacific region, namely Australia, Singapore, Japan, Hong Kong and Korea, where authorities have mandated UPI reporting. The DSB has worked with authorities and local market infrastructures to prepare market participants with their UPI integration and onboarding requirements.Emma Kalliomaki, Managing Director of ANNA and the DSB, said: “The DSB is proud to be recognised at the Regulation Asia Awards for Excellence 2025 for its continued delivery of the UPI Service. This achievement reflects our unwavering commitment in driving global harmonisation of ISO standards, advancing data quality and consistency, and collaborating with stakeholders to evolve in line with the needs of the global market.”As a cost recovery industry utility, the DSB is now delivering a key regulatory service to over 450 fee-paying organisations and 1,700 free user organisations across 40 countries. In the APAC region alone, the DSB supports 68 fee-paying entities. These include Banks, Trade Execution Platforms, Asset Management firms, Clearing Houses, Brokerages, Trade Repositories and Data Management Providers. For more information about the UPI Service, please visit the DSB website:  https://cosp.anna-dsb.com/home 

Key takeaways: Digital asset investment products saw a second consecutive week of outflows totalling US $1.17bn, driven by post-liquidity cascade volatility and uncertainty over a potential U.S. rate cut. Bitcoin and Ethereum faced heavy outflows of US$932m and US$438m respectively. Altcoins remained resilient, led by Solana with US $118m in inflows last week and US $2.1bn over the last 9 weeks. The full research features in CoinShares’ weekly newsletter, which can also be found here.

ASIC’s current review of Australia’s motor vehicle finance sector has exposed cracks in some lenders’ oversight of car finance distributors—revealing problematic sales tactics, and a lack of regular audits and checks by lenders.  ASIC’s review follows a spike in complaints about motor vehicle finance to the regulator, as well as reports from consumer advocates about excessive establishment and interest costs as part of various car finance arrangements.   Most lenders examined by ASIC rely on intermediaries, such as brokers and dealerships, to arrange motor vehicle finance, with ASIC uncovering significant variations in loan establishment costs.  ‘We saw instances of loan establishment fees as high as $9,000 on a loan of $49,000,’ ASIC Commissioner Alan Kirkland said.  ‘We also found that almost half of all consumers who defaulted on their car finance repayments did so within the first six months of the loan. And of vehicles that were repossessed and sold, nearly 90% of consumers still owed more than half of their original loan amount.   ‘These numbers raise questions about whether these consumers have been given loans they cannot afford to repay, which is consistent with key themes in complaints that led to this review.’  ASIC will continue its probe to understand why such considerable cost differences exist and separately why many customers cannot keep up with repayments in the first year of their loan term.  The initial phase of this review examined every stage of a customer’s journey, from finance application, loan assessment and responsible lending checks to hardship requests, support, and dispute resolution. It highlighted the impact of unaffordable loans on customers and how this is resulting in poor consumer outcomes.   In response, ASIC has issued tailored action letters to participating lenders based on our preliminary findings, with specific recommendations for each. The range of identified areas for improvement include:  Better training, accreditation processes and oversight of lenders’ finance distribution channels  Stronger product review triggers and risk frameworks using consumer harm indicators and available data, including internal and external dispute resolution data to ensure products reach the right target market Improved communication when financial hardship arrangements are in place (in line with ASIC’s recent hardship report), including better information on voluntary surrender options Enhanced governance frameworks to ensure adequate oversight of intermediary brokers and dealers. Detailed findings from ASIC’s review will be released in 2026 and will include information on how lenders have responded to ASIC’s recommendations.  Mr Kirkland said, ‘We’ve identified areas where lenders must lift their standards, or risk leaving consumers exposed to poor financial outcomes.  ‘ASIC will take enforcement action to protect consumers where appropriate.’  ASIC currently has proceedings against car dealership Diamond Wheels, Keo Automotive and a former director for allegedly providing car loans to consumers while unlicensed, with many of those consumers having paid an excessive interest rate (24-209MR). ASIC also took action against Money3 Loans following numerous complaints, including from consumer advocates, about the inappropriate provision of finance to vulnerable consumers. While the court recently ruled largely in Money3’s favour, some limited contraventions of the responsible lending provisions of the Credit Act were found (25-198MR). Background This review takes a broad look at the motor vehicle finance sector, noting that misconduct in used car finance sold to vulnerable consumers remains a key enforcement priority for ASIC in 2025. The project aims to drive real change across industry, reducing consumer harm and improving outcomes for all car finance customers, including those in regional and remote areas and First Nations communities. The project aims to drive real change across industry, reducing consumer harm and improving outcomes for all car finance customers, including those in regional and remote areas and First Nations communities.  Lenders involved in the review:  Australian Alliance Automotive Finance Pty Ltd Angle Auto Finance Pty Ltd  Latitude Automotive Financial Services  Nissan Financial Services Australia Pty Ltd  Pepper Asset Finance Pty Ltd  Plenti Finance Pty Ltd,   Rapid Loans Pty Ltd and   Toyota Finance Australia Limited (including PowerTorque Finance).  More information ASIC puts car finance under the microscope including outcomes for regional and First Nations consumers – 19 March 2025 ASIC’s latest reports on financial hardship and design and distribution obligations. For consumers Consumers who are looking for car loan help can find free resources on ASIC’s Moneysmart website. ASIC media releases are point-in-time statement

The interest rate derivative market is closed today, November 11, 2025.

Miami International Holdings, Inc. (MIAX®) (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today announced expanded roles for Shelly Brown and Joseph W. Ferraro III—key members of its senior management team—to support strategic growth initiatives at MIAX Futures™. These appointments are effective today. Mr. Brown was appointed Chief Executive Officer of MIAX Futures. In this role, he will oversee the execution of the exchange's growth strategy including the upcoming launch of futures on the Bloomberg 500 Index in the first quarter of 2026, subject to regulatory filings with the Commodity Futures Trading Commission. In addition, Mr. Brown was appointed Chief Strategy Officer at Miami International Holdings. He has been with the company since 2011, contributing significantly to the growth of its options business which reached a monthly market share of 19.4% in October. "Shelly is a seasoned executive in our industry with a deep understanding of the roadmap to launching several key futures products in our pipeline," said Thomas P. Gallagher, Chairman and Chief Executive Officer of MIAX and Chairman of MIAX Futures. "I can't think of anyone who brings more operational knowledge and efficiency to the table than him."  Mr. Ferraro was appointed President of MIAX Products, LLC, a subsidiary of MIAX focused on the development and licensing of new proprietary products. He will leverage his extensive industry experience to manage index product relationships and expand the company's proprietary product offering, with a current focus on Bloomberg equity index derivatives products. Mr. Ferraro will also continue in his existing role as Senior Vice President, Deputy General Counsel at MIAX. He joined the company in 2016, playing a key role in its 2020 acquisition of MIAX Futures, exclusive index licensing agreement with Bloomberg, and MIAX Futures Onyx trading platform launch. "Joe's expert guidance in the acquisition and development of MIAX Futures will continue to help further our proprietary product offering in this expanded role," Mr. Gallagher added. "We have made significant investments in developing MIAX Futures' technology infrastructure to prepare for expanded product offerings. With our signature MIAX technology now in place, I am confident in the abilities of both Shelly and Joe to lead critical operational aspects of our futures business and strategy."

The Nigerian equities market closed lower on Monday as investors took profits in select stocks, yet overall market performance continues to reflect robust growth and investor confidence. The All-Share Index (ASI) fell 0.50%, following sell-offs in stocks such as NAHCO, MBENEFIT, and AIICO. Despite the session’s setback, the Year-to-Date ASI remains strong at 44.50%, while the Month-to-Date return stands at 3.47%, signalling continued market resilience. Market turnover for the day reached ₦11.35 billion, traded across 32,538 deals, marking a 26.10% decline in value and a 30.88% decline in volume compared to Friday. Top performers by turnover included DANGCEM (₦2.15Bn), ZENITHBANK (₦1.31Bn), WAPCO (₦1.03Bn), ARADEL (₦644Mn), and GTCO (₦520Mn). The equities market maintained a market capitalization of ₦94.53 trillion ($65.80Bn), while the fixed income market remained steady at ₦52.60 trillion ($36.61Bn), reflecting continued investor confidence in Nigeria’s capital market. Investor sentiment, as measured by market breadth, recorded 0.31x, indicating selective gains in 13 equities against losses in 42 others. Analysts note that such fluctuations present strategic opportunities for long-term investors to reposition their portfolios. “Short-term market adjustments are normal in a dynamic market like Nigeria’s. The underlying fundamentals remain strong, and the year-to-date performance highlights the resilience and depth of our capital markets,” said David Adonri, Vice-Chairman, Board of HighCap Securities. Despite mild profit-taking, the Nigerian equities market continues to demonstrate exceptional strength, buoyed by robust liquidity and sustained investor confidence. With the All-Share Index still up 44.50% year-to-date and market capitalization above ₦94 trillion, analysts remain optimistic that Nigeria’s capital market will close the year on a strong note, driven by improving macroeconomic conditions and active domestic participation. Market watchers remain confident that liquidity in high-performing stocks and the broader market’s stability will continue to attract both domestic and foreign investors, reinforcing the positive sentiment surrounding Nigeria’s capital market.