Good morning. Thank you for the introduction Steve [Byron], and thank you Ken [Bentsen] and Katie [Kolchin] for the kind invitation to join today’s event. I commend SIFMA for today’s comprehensive program on an important, timely topic. And I applaud the many senior leaders gathered here to generously contribute time and expertise toward an industry roadmap for 24-by-7 trading. Please note that my remarks today are made in my official capacity as the Commission’s Director of the Division of Trading and Markets and do not necessarily reflect the views of the Commission, the Commissioners, or members of the Division’s staff. As you might guess, this disclaimer operates 24-by-7, 365 days a year. For roughly twenty years, our equity market infrastructure has accommodated trading between 4 AM and 8 PM ET. Recently, in response to interest from retail and non-U.S. investors, a number of platforms have launched “overnight” trading, including four ATSs. Notably, some non-equity markets, such as those for digital assets, currently operate 24-by-7. A growing consensus of market participants wants the equity markets to follow this course. Before our marketplace takes this step, however, foundational questions regarding common protocols and shared infrastructure must be answered. That is the purpose of today’s roundtable. The Division supports industry efforts to expand trading hours. In November 2024, the Commission approved 24X’s Form 1 application, which included an overnight session. The Commission has also approved NYSE Arca’s proposal to expand its trading hours, and a similar proposal from Nasdaq is currently out for comment. The equity market data plans have proposed extending the hours of operation for the SIPs by the end of 2026, and we understand that NSCC plans to be ready in June. Some market participants have also expressed an interest in having more timely reporting of TRF data in extended hours. Based on our conversations with industry, we view these dates as feasible. Acute focus on operational particulars, such as handling corporate actions, is warranted to ensure a smooth expansion. Once deadlines for implementation are established, they should be met without unnecessary delay. My Division colleagues Kelly Riley and Peggy Sullivan are your points of contact for the Division on this issue, and Peggy is here with us today. I encourage you to engage with Kelly and Peggy as needed throughout the year. It is commonplace to note that our Nation’s markets are the envy of the world. It is rare, however, to have an opportunity to increase our global pre-eminence. Done in a way to benefit investors everywhere, and to deepen our capital formation advantages beyond our shores for corporate issuers, 24-by-7 trading may be one such opportunity. I hope you seize it. Thank you for your time and attention. I wish you all the best for a productive roundtable.

The Chicago White Sox today announced a multiyear agreement establishing CME Group, the world's leading derivatives marketplace, as the team's inaugural jersey patch sponsor and Official Global Exchange Partner. Under the terms of the deal, the CME Group logo will be featured on the home, road and alternate jerseys, including the MLB Nike City Connect uniform, for all Spring Training, regular and postseason games. In addition to the jersey patch, CME Group receives prominent fixed signage behind home plate during home games at Rate Field, as well as other promotional opportunities. "Partnering with a team known for grit, achievement and perseverance is a natural fit with the CME Group brand, and we are pleased to become the first jersey-patch sponsor of the Chicago White Sox," said CME Group Chairman and Chief Executive Officer Terry Duffy. "In our own ways, both of our organizations are strong contributors to the greater Chicago community. Yet our reach goes well beyond the city we share, appealing to key constituents around the world. The White Sox are reaching younger, broader and increasingly global audiences, as evidenced by the league's record revenue and increasing viewership. CME Group is similarly expanding into new markets and client segments, particularly in retail. Together, we'll deliver a compelling experience that appeals to our current and prospective clients while elevating both brands." "Throughout this process, we understood the importance and significance of joining forces with a Chicago-based partner whose brand we would literally be sporting every day," said Brooks Boyer, White Sox chief revenue and marketing officer. "The White Sox uniform designs represent so much to our organization, our fans and Chicago, and a bold partnership with CME Group—a Chicago-born company with a global footprint—was a perfect fit. Our organizations share a mentality that is built on ambition, pride and a strong work ethic, and this jersey patch is more than branding; it reinforces the power of Chicago both here at home and around the world." On the home pinstripes uniform, the blue logo will be set against a white background and black border with CME in black lettering. The road grays will have the blue logo on a matching gray background with CME in black lettering. The MLB Nike City Connect and alternate black jerseys will feature the blue logo on a black background with CME in white lettering. The team will debut the uniform when Cactus League play begins on Friday, February 20 when the White Sox take on the Chicago Cubs at 2:05 p.m. CT. The team will wear it for the first time in the 2026 regular season during the opener in Milwaukee on Thursday, March 26 at 1:10 p.m. CT and again for the home opener against Toronto on Thursday, April 2 at 3:10 p.m. CT at Rate Field. For the latest information about the White Sox, visit whitesox.com/cme. © 2026 Chicago White Sox

Exchange Data International (EDI), a leading provider of global securities data, today announced the release of its End-of-Year 2025 IPO Market Report, showcasing a strong recovery in global IPO activity and significant growth throughout the year. The report analyzes key trends that shaped the IPO landscape in 2025, including rising proceeds, shifting sector focus, and evolving investor priorities. It features regional performance breakdowns, top IPOs of the year, and insights into the structural forces driving renewed momentum in global equity markets. Among the report’s highlights are several high-profile IPOs, including the highly anticipated listings of NexusAI, BrightGrid Technologies, and TerraCore Energy. These transactions attracted strong investor interest and helped define a year characterized by large, transformative listings across the technology, manufacturing, and energy sectors. EDI’s IPO service tracks activity across more than 150 stock exchanges worldwide, sourcing data directly from local exchanges and verified secondary sources, including regional newspapers and news agencies. Jonathan Bloch CEO of Exchange Data International commented, “Despite ongoing geopolitical tensions, IPO issuance is expected to rise in 2026, our IPO products offer detailed, structured data across every stage of the IPO lifecycle—insights that are critical for corporate finance professionals and investors navigating fast-changing markets.” The service classifies IPO activity across six distinct lifecycle stages: Rumour, Pending, New, Historical, Postponed, and Withdrawn. This structured approach enables clients to follow the full IPO lifecycle with clarity, from early market speculation through final listing or cancellation. As part of its ongoing commitment to supporting market transparency, EDI continues to enhance its IPO services with expanded coverage and improved data delivery. Download the full IPO Market Report for a comprehensive analysis of global IPO trends and market developments.      

GlobalData has announced the latest Financial and Legal Adviser League Tables, which rank advisers by the total value and volume of merger and acquisition (M&A) deals they advised on in the financial services sector during 2025. Financial Advisers Morgan Stanley and Piper Sandler top M&A financial advisers in financial services sector by value and volume in 2025 Morgan Stanley and Piper Sandler were the top mergers and acquisitions (M&A) financial advisers in the financial services sector during 2025 by value and volume, respectively, according to the latest financial advisers league table by GlobalData, a leading intelligence and productivity platform. An analysis of GlobalData’s Financial Deals Database reveals that Morgan Stanley achieved the leading position in terms of value by advising on $89.7 billion worth of deals. Meanwhile, Piper Sandler led in terms of volume by advising on a total of 53 deals. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Morgan Stanley was also the top adviser by value in 2024 and outpaced its peers by a significant margin in this metric last year as well. The global investment bank advised on 19 billion-dollar deals* that also included a mega deal valued more than $10 billion. It is notable that these 19 deals collectively were worth more than 87 billion. The involvement in these big-ticket deals helped it to maintain the significant lead in terms of value. In addition, Morgan Stanley occupied the fourth position by volume in 2025. “Meanwhile, Piper Sandler led by volume but faced closed competition from Stifel/KBW for the top spot by this metric.  Stifel/KBW occupied the second position in terms of volume with 50 deals.” Houlihan Lokey occupied the third position in terms of volume with 44 deals, followed by Morgan Stanley with 43 deals and Goldman Sachs with 40 deals. Meanwhile, Goldman Sachs occupied the second position in terms of value, by advising on $67.1 billion worth of deals, followed by JPMorgan with $66.7 billion, Evercore with $55.3 billion and Barclays with $41.8 billion. *Deals valued ≥ $1 billion Legal Advisers Sullivan & Cromwell and Alston & Bird top M&A legal advisers in financial services sector by value and volume in 2025 Sullivan & Cromwell and Alston & Bird were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during 2025 by value and volume, respectively, according to the latest legal advisers league table by GlobalData, a leading intelligence and productivity platform. An analysis of GlobalData’s Financial Deals Database reveals that Sullivan & Cromwell achieved the leading position in terms of value by advising on $105.7 billion worth of deals. Meanwhile, Alston & Bird led in terms of volume by advising on a total of 58 deals. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Sullivan & Cromwell was among the only two advisers to surpass the $100 billion-mark in total deal value during 2025. Wachtell, Lipton, Rosen & Katz missed the top spot by a whisker and held the second position having advised on deals worth $104.8 billion. While Sullivan & Cromwell advised on 17 billion-dollar deals* during the year, Wachtell, Lipton, Rosen & Katz advised on 14 billion-dollar deals. “Alston & Bird that led the league table in terms of volume was closely followed by Kirkland & Ellis with 54 deals.” Cravath Swaine & Moore occupied the third position in terms of value, by advising on $58.9 billion worth of deals, followed by Skadden, Arps, Slate, Meagher & Flom with $50.5 billion and Latham & Watkins with $49.7 billion. Meanwhile, Kirkland & Ellis occupied the second position in terms of volume with 54 deals, followed by Latham & Watkins with 47 deals, White & Case with 45 deals and Sullivan & Cromwell with 38 deals. *Deals valued ≥ $1 billion

EuroCTP, a European initiative set up to develop and deliver the EU’s first real-time pre- and post-trade Consolidated Tape (CT) for financial equity trades, has selected Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company®, to provide one clear, reliable feed of trading activity across all EU venues. The move is set to improve transparency across the EU financial landscape, paving the way for lower transaction costs, improved price discovery, and greater investor confidence in the fairness and efficiency of the region’s markets.  Having been appointed by the European Securities and Markets Authority (ESMA)—the EU’s financial markets regulator and supervisor—the tape will have its digital foundation in Equinix’s FR2 data center in Frankfurt, Germany. The facility was selected for its connectivity to key European markets along with Equinix’s proven reliability, rich connectivity ecosystem and sustainability credentials.   “Equinix FR2 provides EuroCTP with the ideal foundation to drive growth, ensuring we can reliably meet the evolving needs of our platform and customers. The site is already directly connected to major EU financial venues and data consumers; this established connectivity makes it an ideal location for low-latency access and seamless cost-efficient integration with the core financial ecosystem. Partnering with Equinix’s world-class facility in Frankfurt contributes to the delivery of resilient, sustainable, compliant, and scalable services that meet the highest standards and the needs of the industry,” said Eglantine Desautel, CEO of EuroCTP.   EuroCTP’s system is built to capture real-time pre- and post-trade data from all trading and reporting venues across the EU, bringing everything together in one place. Improving ease of access, users can gain a complete and immediate view of all shares and exchange traded funds (ETFs) trades executed in the EU, including the consolidated best buy and sell orders available at any point in time. EuroCTP will work closely with ESMA on authorisation processes, targeting a go-live of Q3 2026.   EuroCTP’s collaboration with Equinix ensures compliance with key regulatory standards set out in Markets in Financial Instruments Regulation (MiFIR) and Digital Operational Resilience Act (DORA)—in 2025, Equinix secured designation by Europe as one of only 19 firms deemed “critical” suppliers under the DORA legislation.  EuroCTP is also deeply committed to responsible environmental practices, seeking a facility with strong energy-efficiency performance and a projected Power Usage Effectiveness (PUE) within target range, aligned with the European Code of Conduct on Data Center Energy Efficiency.    “Equinix welcomes EuroCTP and this new European market infrastructure into its FR2 financial services community. The reliability, security and efficiency of digital infrastructure are crucial for financial players and their trust in our data center ecosystem is important to us. We use advanced security capabilities, techniques and procedures to safeguard our sites, and our five nines (99.999%) reliability is a benchmark of excellence. Achieving this involves significant financial, operational and time investments, and is something the company is committed to,” explained Eleni Coldrey, Financial Services Director for EMEA at Equinix.  

Priya Nallan, Head of Product Management at LSEG Risk Intelligence, comments on today’s changes to the UK Sanctions List: “The UK’s move to publish a single designations list marks a step toward greater clarity and consistency, particularly for firms operating across multiple jurisdictions. Compliance teams must ensure their systems can reconcile the UK’s designations as published on the UK Sanctions List with other regimes such as the US’s OFAC - especially where entities are co‑listed under narcotics trafficking, transnational crime, or proliferation‑related sanctions. “This presents an opportunity to reassess sanctions workflows and exposure analysis holistically. As regulatory expectations rise globally, firms must go beyond simple list matching and build screening programmes capable of detecting indirect risk, hidden ownership structures, and common and shifting designations across all relevant jurisdictions. “We have already ensured our World‑Check data and screening software is ready to support this transition.”

ING is pleased to announce the appointment of Alex Yang as Global Head of Electronic Fixed Income (eFI) Trading. In this role, Alex will lead the continued development and expansion of ING’s global electronic fixed income trading capabilities, supporting the bank’s strategic investment in digitalisation and electronic execution. Gary Prince, Head of WB FM EMEA, said: “Digitalisation is a must‑win battle for us, and Alex’s expertise in e‑Rates trading is pivotal in that ambition. I’m excited about the impact he will have as we continue strengthening ING’s Markets business and driving growth in the UK.” Alex brings 16 years of experience across electronic trading, quantitative research and systematic fixed income markets. He joins ING from Millennium, where he focused on systematic trading across corporate bonds, rates and ETFs. Simon Bevan, Global Head of eTrading, commented: “I’m excited to have Alex join the ING eTrading team. With his leadership, I am confident ING will become a market leader in electronic fixed income trading.”  Alex’s appointment follows last week’s announcement of David Leech as Global Head of FX Trading. As part of its strategic focus on digitalisation, ING’s eTrading team will continue to expand in 2026.

Assets under management and trading turnover reach new record highs Active ETFs emerge as a key growth driver for the European ETF market Investors focus on the defense sector and precious metals Xetra's retail investor service offers significant advantages for trading ETFs and ETPs Deutsche Börse's segment for Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) posted new records across all key metrics last year. Trading turnover in ETFs and ETPs on Xetra saw a significant year-over-year increase of 52.7 percent, rising to €352.4 billion (2024: €230.8 billion). At the same time, assets under management (AUM) in the segment reached a new all-time high of €2.27 trillion (+24.5 percent; December 2024: €1.83 trillion). These developments were accompanied by a further increase in listing activity. In particular, the ETF product category significantly surpassed the previous year's record of 281 newly listed ETFs with 399 new listings last year. This strong growth in products was also supported by new issuers entering the European ETF market: twelve new issuers listed ETFs on Xetra in 2025, more than ever before. Ten of these twelve new issuers were providers of actively managed ETFs. At year-end, ETFs constituted the largest product category in the segment with 2,671 products (2024: 2,328 ETFs). The ETP category included 488 products (2024: 446 ETPs), comprising 203 Exchange Traded Commodities (2024: 197 ETCs) and 285 Exchange Traded Notes (2024: 249 ETNs). This once again made Deutsche Börse Europe's largest ETF exchange by trading turnover and number of listed products. Actively managed ETFs remain a key growth driver The dynamic development within the ETF segment is primarily due to the continued strong interest in active ETFs. With 172 new listings, they accounted for more than 43 percent of all newly listed ETFs last year. This increased the number of active ETFs in the segment to 367, representing a 14 percent share. Concurrently, both assets under management and trading turnover on Xetra recorded above-average growth rates of 66.5 percent and 141 percent, respectively, reaching new record highs of €73.6 billion and €6.7 billion. "The impressive growth of active ETFs on Xetra shows that the efficiency of the product structure is increasingly being leveraged in active investment strategies. More and more providers are recognizing the added value of the exchange as a complementary distribution channel, especially for attracting new, digitally savvy investor groups," says Stephan Kraus, Head of the ETF & ETP segment at Deutsche Börse. Strong demand for defense and mining stocks, as well as precious metals Against the backdrop of ongoing geopolitical tensions and rising government spending in the defense sector, defense ETFs became the most-traded theme on Xetra last year. Their trading volume surged by 798 percent to €9.3 billion (2024: €1.04 billion). Simultaneously, assets under management increased by 570 percent to €14.5 billion (2024: €2.17 billion). The product offering in the segment expanded by 15 to a total of 20 ETFs by year-end. Furthermore, mining stock ETFs also experienced exceptionally high growth rates. Driven by strong price performance in gold and silver, their trading volume on Xetra grew by 313 percent, reaching a new all-time high of €5.91 billion (2024: €1.43 billion). Fund assets rose by 186 percent to €14.2 billion (2024: €4.96 billion), ranking second – after defense ETFs – in terms of assets under management among thematic ETFs tradable on Xetra. The price movements of gold and silver also led to significant turnover increases for precious metal ETCs. The trading turnover of gold ETCs rose by 245 percent to €16.4 billion (2024: €4.7 billion), while that of silver ETCs increased by 407 percent to €4.4 billion (2024: €869 million). Assets under management in both product categories also set new records, with gold ETCs at €115.5 billion (+59.6 percent; 2024: €72.4 billion) and silver ETCs at €6.94 billion (+191.6 percent; 2024: €2.38 billion). Retail investors benefit from new service offering when trading ETFs and ETPs on Xetra In March of last year, Deutsche Börse introduced its innovative Xetra retail trading offering for ETFs and ETPs. This service provides automatic price improvements over the current Xetra reference market prices when trading these products. Through a new market maker role that specifically provides liquidity for retail investors in the Xetra order book, their orders receive price improvements or are executed at least at the current Xetra price. Furthermore, trading hours for retail investors on Xetra were extended in December: investors can now trade all ETFs and ETPs listed on Xetra continuously from 8 a.m. to 10 p.m. For retail investors, the new trading service has led to significant price improvements compared to Xetra reference market prices. Since its launch in March, orders with a total volume of €3.5 billion have already benefited from better execution prices for ETFs and ETPs. Xetra Retail is now supported by 15 banks and brokers, allowing investors to choose from a wide range of Deutsche Börse's trading partners. Further facts and figures can be found in Deutsche Börse's  ETF and ETP statistics.

Key Points – January Report Introducing the updated MNI China Money Market Index (MMI), formerly the MNI China Liquidity Index, which has been adapted to reflect the PBOC's monetary policy. Chinese interbank money market traders expect comfortable liquidity conditions next month as the central bank increases its reverse repo operations ahead of the Chinese New Year holiday while holding the policy rate steady, according to MNI’s China Money Market Index published Wednesday. The MNI China Money Market Index fell in January as traders foresaw improved liquidity ahead of the Lunar New Year.  The MNI China Money Market Current Conditions Index were little changed in January with PBOC seen adding liquidity ahead of the holidays.  The MNI China Economic Outlook Index rose on upbeat expectations ahead of the New Year celebrations. The MNI survey collected the opinions of 50 traders with financial institutions operating in China's interbank market, the country's main platform for trading fixed income and currency instruments, and the main funding source for financial institutions. Interviews were conducted January 12 to 23.

Seven Points Capital, a fully funded proprietary trading firm founded in 2007, has expanded into London with the opening of a new office, further strengthening its international presence as demand accelerates for long-term, mentorship-led trading models. The London expansion reflects growing global interest in Seven Points Capital’s approach. It coincides with a broader reset across the proprietary trading industry, as challenge-based firms face increased scrutiny and traders seek more sustainable environments built on shared risk, accountability and long-term alignment between trader and firm. Founded nearly two decades ago, Seven Points Capital has traded through multiple market cycles including the 2008 financial crisis, COVID-era volatility and today’s increasingly continuous 24/5 market structure. The firm is frequently referenced as a counterpoint to pay-to-play prop firms, operating instead as a selective, fully funded partnership focused on mentorship, structure and long-term development. Seven Points Capital operates a hybrid model, combining physical trading offices with a distributed global trader base. In addition to its new London office, the firm maintains offices in New York, Arizona and Fort Lauderdale, while supporting traders operating remotely across Canada and Europe. Mike Mangieri, Co-Founder of Seven Points Capital, said: “London has always been a natural fit for us. We’re seeing experienced traders increasingly question short-term, challenge-driven models and look for environments that prioritise mentorship, structure and long-term partnership. Whether traders operate from one of our offices or from their own location, the foundation is the same - alignment, accountability and support.” Michael Katz, Co-Founder of Seven Points Capital, added: “As markets move closer to continuous trading, operational discipline and risk management matter more than ever. Expanding into London allows us to better support traders across time zones while maintaining the standards we’ve built since 2007. Growth for us is never about scale for scale’s sake - it’s about fit, structure and long-term alignment.” The London office is already operational and forms part of Seven Points Capital’s broader international strategy, enabling closer collaboration with UK- and Europe-based traders while supporting a global trading operation across multiple time zones. The expansion comes as the proprietary trading sector undergoes heightened scrutiny by regulators, traders and market participants examining business models, funding structures and risk practices more closely. Seven Points Capital’s fully funded structure, selective recruitment and long-tenured trader base position it firmly within the cohort of firms benefiting from this industry recalibration.

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: 27 January 2026 Aggregate number of ordinary shares purchased: 198,171 Lowest price paid per share: 8,260.00p Highest price paid per share: 8,662.00p Average price paid per share: 8,525.76p LSEG intends to cancel all of the purchased shares. Following the cancellation of the repurchased shares, LSEG has 508,184,912 ordinary shares of 679/86 pence each in issue (excluding treasury shares) and holds 21,451,599 of its ordinary shares of 679/86 pence each in treasury. Therefore, the total voting rights in the Company will be 508,184,912. 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/6203Q_1-2026-1-27.pdf This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction. Schedule of Purchases Shares purchased:       198,171 (ISIN: GB00B0SWJX34) Date of purchases:      27 January 2026 Investment firm:         Citi Aggregate information: Venue Volume-weighted average price Aggregated volume Lowest price per share Highest price per share Turquoise 8,407.89 19,171 8,260.00 8,660.00 London Stock Exchange 8,538.39 179,000 8,260.00 8,662.00

FY26 expense growth guidance, excluding the ASIC inquiry costs, updated to be between 13% and 15%   Including ASIC Inquiry costs, FY26 total expense growth guidance will be between 20% and 23% ASX is also releasing unaudited 1H26 financial results, showing strong operating revenue growth      On 15 December 2025 ASX announced it would implement a strategic package of actions agreed with the Australian Securities and Investments Commission (ASIC) following the release of the interim report from ASIC’s expert Inquiry Panel. At that time, ASX noted FY26 expense growth guidance was unchanged.  The Inquiry Panel’s interim report contained serious findings and ASX has now had more time to reflect deeply on the Panel’s call for a reset that places primacy on ASX’s stewardship role as an operator of critical market infrastructure. Since the delivery of the interim report and our last guidance update, we have: progressed development of an implementation plan for the strategic package of actions (“the Commitments plan”); revised investment requirements for key strategic priorities informed by the Inquiry Panel’s interim report; and  updated our view of FY26 costs associated with trading volumes and the timing of various legal actions.  In progressing these pieces of work, ASX has further updated our view on expense growth guidance for FY26.  ASX has previously guided that, excluding the ASIC inquiry related costs, FY26 total expense growth guidance was toward the upper end of between 8% and 11%. Including ASIC Inquiry related costs FY26 total expense growth would be between 14% and 19% compared to the prior corresponding period. This included the operating expenses of between $25 million and $35 million which related to the response to the ASIC Inquiry.  Today we are updating FY26 expense growth guidance, excluding the ASIC inquiry costs, to be between 13% and 15%. Including ASIC Inquiry costs, total FY26 expense growth guidance will be between 20% and 23%.    To provide further context to this update we have released unaudited 1H26 results information.  1H26 unaudited financial highlights (vs prior corresponding period or pcp)  Statutory net profit after tax (NPAT) of $263.6 million (up 8.3%)  Underlying NPAT of $263.6 million (up 3.9%)  Operating revenue of $602.8 million (up 11.2%)  Excluding ASIC inquiry related costs, total expenses of $247.0 million (up 12.1%) Including ASIC inquiry related costs, total expenses of $264.3 million (up 20.0%)    Underlying return on equity of 13.5% (flat on pcp) Updated FY26 total expense growth guidance   FY26 expense growth guidance, excluding ASIC inquiry costs, is updated to be between 13% and 15%. Including ASIC Inquiry costs, FY26 total expense growth guidance is updated to be between 20% and 23%.  A key driver for the increase in total expenses has been our decision to make further upgrades to the capacity and capability of resources to uplift risk management and modernise and support our major technology platforms. This reassessment of our investment requirements for key strategic priorities was informed by findings from the Inquiry Panel’s interim report. Slower uptake of e-statements at a time of high trading volumes has also contributed to the increase in expense guidance.  The development of the Commitments plan is focused on providing the details to the strategic package of actions agreed with ASIC. The plan includes ASX’s proposed approach to key elements such as the reset of the Accelerate Program and the measures we will take to enhance the independence of the clearing and settlement facility licensee boards.  The ASIC Inquiry related costs are now expected to be at the upper end of the previously provided range for FY26 inclusive of the expected Commitments plan costs. Other one-off costs impacting the FY26 guidance include an increase in expected legal costs in relation to ongoing matters.   FY27 total expense growth guidance will be provided at our June 2026 Investor Forum.  Unaudited 1H26 results 1H26 operating revenue of $602.8 million reflected strong growth of 11.2% compared to the prior corresponding period. ASX generated revenue growth across all four businesses with strong volumes for cash market trading, clearing and settlement and interest rate futures during the period.  Total expenses, excluding ASIC Inquiry related costs, were $247.0 million, up 12.1% on pcp. This was driven by investment in key programs, including Accelerate and delivery of the technology modernisation program, and a higher depreciation and amortisation charge. Total expenses, including ASIC Inquiry related costs, were $264.3 million, up 20.0%.  Underlying net profit after tax of $263.6 million was up 3.9% compared to pcp and statutory NPAT of $263.6 million was up by 8.3% with no significant items reported in 1H26. Underlying return on equity generated in the period was 13.5%, flat to pcp, reflecting the increase in underlying NPAT offset by higher shareholder’s net equity. On 15 December 2025 ASX noted changes to our capital requirements to meet an additional capital charge imposed by ASIC. At the time we stated the increased regulatory capital requirement would impact underlying ROE, with ASX’s medium term target range now between 12.5% and 14.0%, having previously been between 13.0% and 14.5% ASX Limited CEO and Managing Director Helen Lofthouse said: “Since announcing our five-year strategy in mid-2023, we have been making significant investments in ASX to modernise our technology and secure our pathway to long-term sustainable growth.  “The ASIC Inquiry Panel’s interim report underscores an even greater urgency to the transformation we are pursuing.  “Alongside the reset of the Accelerate Program and the measures to enhance the independence of the clearing and settlement facilities, we have been reviewing key areas of our strategic investment to support how we address the spirit of the Inquiry’s findings. This has underpinned our forecasting activity and contributed to the expense update we’ve provided today. Central in our assessment has been ASX’s role as an operator of critical market infrastructure that must perform to a very high standard, always striving for excellence.  “Our unaudited results show ASX has experienced a period of strong cash market trading activity and demand for interest rate futures, and we felt it was important to release these additional figures to allow a fuller picture to be considered when providing today’s update to expense guidance.   “We recognise it is a privilege to provide these critical services for our customers and the market, and we are committed to strengthening ASX for tomorrow.” 1H26 results announcement Further details will be provided at ASX’s 1H26 results announcement on 12 February 2026.

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, announced today that Warren Gardiner, CFO, will present at the BofA Financial Services Conference. The presentation will take place on Tuesday, February 10 at 1:00 p.m. ET. The presentation will be available live and in replay via webcast and can be accessed in the investor relations and media section of ICE’s website at http://ir.theice.com.

At the end of the settlement date of January 15, 2026, short interest in 3,515 Nasdaq Global MarketSM securities totaled 15,349,969,813 shares compared with 15,183,396,236 shares in 3,498 Global Market issues reported for the prior settlement date of December 31, 2025. The mid-January short interest represents 2.88 days compared with 2.83 days for the prior reporting period. Short interest in 1,669 securities on The Nasdaq Capital MarketSM totaled 3,478,325,627 shares at the end of the settlement date of January 15, 2026, compared with 3,382,557,383 shares in 1,671 securities for the previous reporting period. This represents a 1.19 day average daily volume; the previous reporting period’s figure was 1.27. In summary, short interest in all 5,184 Nasdaq® securities totaled 18,828,295,440 shares at the January 15, 2026 settlement date, compared with 5,169 issues and 18,565,953,619 shares at the end of the previous reporting period. This is 2.28 days average daily volume, compared with an average of 2.31 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, visit https://www.nasdaq.com/market-activity/quotes/short-interest or http://www.nasdaqtrader.com/asp/short_interest.asp.        

NYSE today reported short interest as of the close of business on the settlement date of January 15, 2026. 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 01/15/2026 NYSE 16,229,244,827 16,328,080,385 2,868 2,588 01/15/2026 NYSE ARCA 2,305,469,672 2,206,603,412 2,512 1,765 01/15/2026 NYSE AMERICAN 888,952,761 824,018,829 301 251 01/15/2026 NYSE GROUP 19,423,667,260 19,358,702,626 5,681 4,604 *NYSE Group includes NYSE, NYSE American and NYSE Arca           Reports will be archived here.

EDX Markets, a leading digital asset firm that combines an institutional-only trading venue with a central clearinghouse, today announced the launch of EDX FlowConnect™, a crypto-as-a-service (CaaS) offering that enables firms to quickly and securely launch crypto trading products for their customers. EDX FlowConnect™ provides access to institutional-grade liquidity, trading infrastructure, clearing and settlement. The fully configurable platform supports trading in spot and perpetual contracts, third-party clearing and stablecoin on-ramp/off-ramp workflows. The offering enables firms to bring a full suite of crypto products to market without the cost or complexity of building and operating their own infrastructure. Clients can choose from the out-of-the-box turnkey solution or a “bring-your-own-provider” approach – making it the market’s only fully flexible CaaS product. Additionally, by operating exclusively as an institutional-only trading venue, EDX serves as an unconflicted partner for retail firms. Built on EDX’s proprietary matching engine and clearing system, FlowConnect™ delivers microsecond-level performance to its deep, aggregated liquidity backed by leading traditional finance and crypto-native market makers. The platform offers flexible connectivity options via the cloud or traditional data center and supports trading and settlement across stablecoins, crypto and other eligible collateral types. EDX FlowConnect™ incorporates advanced risk management and security features, including: Comprehensive collateral and risk management infrastructure Advanced market surveillance and a standardized rulebook Pre-trade risk controls, including max order size, duplicate order checks, price banding and cancel-on-disconnect Automated post-trade risk management, including configurable margin calls, liquidations and auto-deleveraging Bankruptcy-remote collateral and settlement accounts with full subaccount segregation “Institutions are increasingly demanding infrastructure that reflects the standards of traditional financial markets, and FlowConnect™ is designed to help firms quickly launch crypto trading for their clients while meeting those expectations,” said Tony Acuña-Rohter, CEO of EDX Markets. “By combining established market structure principles with flexible, ready-to-launch capabilities, FlowConnect™ enables firms to bring crypto offerings to market faster while operating within the standards institutions rely on.” “As institutional participation in digital asset derivatives accelerates globally, the market is demanding not just access — but dependable controls, resilient settlement frameworks, and infrastructure that supports scalable growth,” said Kai Kono, CEO of EDXM International. “FlowConnect™ is built to help qualified institutions and partners deploy spot, perpetuals and multi-asset offerings with robust risk controls, strong market structure discipline and institutional-grade collateral — enabling faster launches without compromising on governance and safety.” EDX FlowConnect™ is highly customizable, enabling clients to define trading pairs, margin and liquidation parameters, leverage levels and fee structures. Firms can also launch fully branded white-labeled crypto exchanges, manage client sub-accounts and scale their offerings as demand evolves, all within a transparent, non-conflicted model in which EDX does not compete for retail flow. EDX’s dedicated 24/7 global support team will provide high-touch onboarding, integration and ongoing operational support as firms adopt the offering worldwide.

New premium service positions Puro.earth as leading in the development of on-demand issuance for CDR Builds on MyPuro 2.0 and Puro dMRV Connect API to improve liquidity, predictability and operational readiness for industrial-scale carbon removal projects. Puro.earth, the leading crediting platform for engineered carbon dioxide removal (CDR), today announced the launch of Puro Issuance Plus, a new premium service designed to help scaled suppliers bring verified carbon removals to market more frequently through the issuance of CO₂ Removal Certificates (CORCs). Puro Issuance Plus enables more frequent, batch-based issuance cycles when suppliers need them, reducing the time between production and credit availability. By shortening issuance cycles, the service helps suppliers convert removed CO₂ into revenue faster, supporting improved cash flow, planning certainty and market responsiveness. With Puro Issuance Plus, Puro.earth is leading the carbon removal market towards on-demand issuance. Issuances remain strictly based on completed third-party audits and verified volumes, with no changes to Puro.earth’s certification, verification or crediting requirements. The launch builds directly on the recent releases of MyPuro 2.0 and the Puro dMRV Connect API, further strengthening Puro.earth’s infrastructure for scaled carbon removal. “Predictability and timing matter just as much as volume in a maturing market,” said Jan-Willem Bode, President of Puro.earth. “Puro Issuance Plus is about aligning issuance more closely with how mature suppliers actually operate - shortening the path from production to issued CORCs, and ultimately to revenue." From Digital Infrastructure to Issuance Readiness Puro Issuance Plus is enabled by MyPuro 2.0 and Puro.earth’s expanding digital products, including Puro dMRV Connect - an API that enables dMRV data flows. By combining structured data submission, audit readiness and streamlined issuance workflows, the service reduces friction between submission, verification and issuance to accelerate credit availability while maintaining Puro.earth’s high-integrity standards. Who Puro Issuance Plus is for Puro Issuance Plus is available to suppliers that meet defined eligibility criteria, including: Industrial-scale production, with a minimum issuance threshold of 1,000 CORCs per audit Consistent operational and audit performance Full compliance with Puro.earth’s quality, verification and data requirements The service is particularly relevant for suppliers seeking to optimise liquidity, improve issuance predictability, and build readiness for future real-time issuance models.

Aeron Sequencer, currently in late‑stage development, is designed to enable the delivery of resilient, highly performant distributed trading systems at scale. It provides out-of-the-box application infrastructure, significantly accelerating and de-risking development of large-scale, complex platforms for broker-dealers and exchanges. Adaptive, the leader in custom trading technology solutions, today announced it is developing Aeron Sequencer, a software infrastructure platform designed to tackle the most persistent challenges in modern trading system development: consistency, scalability, performance, and availability. Delivering on these requirements demands niche expertise, large-scale investment, and extended delivery timelines. When done poorly, the consequences can be severe—from regulatory compliance issues to an inability to compete. With the growing demands of 24/7 markets, these challenges are becoming more complex, forcing financial firms to confront a critical issue: their most talented engineers are spending less time on business innovation and more time on foundational infrastructure. This is where sequenced architectures excel. Unlike some legacy or microservice architectures that use an eventually consistent paradigm, sequenced architectures are a superior way to build institutional trading systems because they are built on a single, global sequence of events. This approach simplifies development, ensures consistency and auditability. Aeron Sequencer is a great fit for the needs of broker-dealers and exchanges, providing out-of-the-box application infrastructure to deliver complex, high-performance platforms at speed. By cleanly separating infrastructure from business functionality, Aeron Sequencer enables faster delivery, reduces operational risk, and helps firms remain competitive in an increasingly demanding, always-on market.At its core, Aeron Sequencer uses a replicated state machine architecture with a globally ordered, highly available message log. It’s capable of processing millions of messages per second at microsecond latency, freeing development teams from the complexity of building and operating this foundational layer themselves. Key benefits and features that are being developed include: Performance and reliability: Processes millions of messages per second at microsecond latency, with automatic failover and 24/7 operation. Consistency and auditability: Designed to provide global ordering and a persistent audit trail for compliance and regulatory reporting. Deployment and flexibility: Supports both cloud-native and on-premises environments, with active/active and active/passive availability modes. Systems can operate truly 24×365 with zero downtime for releases. Developer productivity: Isolates business logic into separate services, allowing development teams to own their specific domains and release on their own schedules. Matt Barrett, CEO at Adaptive, said: “Markets are in a period of rapid change, as risk and volatility intensify and changes to global market structure look increasingly likely. Aeron Sequencer is being developed to empower organisations such as broker dealers, exchanges and others, to meet these challenges by de-risking complex tech infrastructure projects and empowering development teams. By providing best-in-class quality attributes for resiliency, performance, and consistency, we enable our clients to own their innovation and build differentiated trading solutions that allow them to capitalize on increasing trading volumes and scale in response to a changing market.” Martin Thompson, Co-creator of Aeron and Chief Architect at Adaptive, adds: “Building resilient distributed systems at scale is a huge challenge. Aeron Sequencer is a game-changer because it brings replicated state machine architectures to capital markets, offering a complete solution for teams to collaborate independently, streamline testing, and ensure total ordering and auditability—all without the complexity of traditional distributed infrastructure. It’s built on proven Aeron technology, already trusted by dozens of leading capital markets firms, so teams can build and deploy with confidence.” Availability & Contact Information:Aeron Sequencer is in late-stage development for deployment in both cloud and on-premises environments.To express interest in early‑access, join the waitlist: visit https://aeron.io/aeron-sequencer

CME Group, the world's leading derivatives marketplace, today announced today announced that its metals complex reached a new single-day record of 3,338,528 contracts on January 26, up 18% from the previous daily record of 2,829,666 contracts on Friday, October 17, 2025. "Amid ongoing macro-economic uncertainty, record volatility and heightened price risk, clients are turning to our markets to hedge and adjust precious metals exposure to meet their trading goals," said Jin Hennig, Managing Director and Global Head of Metals at CME Group. "Our expanding range of precious metal contracts provide clients of all sizes efficient access to right-sized risk management tools." Growing demand for CME Group's precious metals contracts drove the record trading day, with Micro Silver futures trading a daily record volume of 715,111 contracts and record open interest of 35,702 contracts. It was also a top five trading day for Silver futures, Micro Gold futures and 1-Ounce Gold futures.  CME Group recently announced that it will launch 100-Ounce Silver futures to meet record retail demand on February 9, 2026, pending regulatory review. For more information, please visit https://www.cmegroup.com/100-oz-silver. CME Group's metals complex is listed on and subject to the rules of COMEX. For more information, please visit www.cmegroup.com/metals

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has signed a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI) to facilitate cooperation and exchange of information for the recognition of central counterparties (CCPs) established in India and supervised by RBI. This agreement marks a significant step towards restoring access for EU clearing members to Indian central counterparties and follows two years of sustained engagement between ESMA and RBI. It reflects ESMA’s strong commitment to international supervisory cooperation and mutual support to advance safe, resilient and open financial markets. Next steps The MoU is a key requirement under Article 25 of the European Market Infrastructure Regulation (EMIR) for the recognition by ESMA of third-country CCPs. It allows the Clearing Corporation of India Ltd (CCIL), a CCP established in India and supervised by RBI, to re-apply for recognition under EMIR.  ESMA is also continuing discussions with the Securities and Exchange Board of India (SEBI) and the International Financial Services Centres Authority (IFSCA) to conclude similar cooperation arrangements.