The total value of transactions during the month in re view reached € 8,56 million, with an average of € 0,37 million per trading session. The Financials sector contrib uted 82,35% to the total value traded which was the high est among all other sectors. Investors primarily focused their interest on the shares of “Bank of Cyprus Holdings Plc” and also on shares of “Demetra Holdings Plc” with 71,24% and 6,88% of the total value respectively. Click here for full details.

(Excerpt) (Friday, July 31, 2026, 11:46 am to 12:05 pm) [Opening remarks:] Minister) We have just received approval at the Cabinet meeting, and I would like to announce personnel changes involving senior officials of the Ministry of Finance and the Financial Services Agency. Materials have been distributed to you. ... I would like to report on the organizational restructuring and personnel changes involving senior officials of the Financial Services Agency. At today’s Cabinet meeting, a Cabinet Order partially amending the Order for Organization of the Financial Services Agency was adopted. Accordingly, effective August 7, we will carry out an organizational restructuring that includes establishing the Banking and Securities Business Supervision Bureau and the Asset Management and Insurance Business Supervision Bureau; abolishing the Supervision Bureau and the Strategy Development and Management Bureau; and newly establishing a Director-General for Operations position. Please ask the administrative staff for details.Next, I would like to inform you of the personnel changes involving senior officials of the FSA. First, Mr. Ishida, the current Director-General of the Supervision Bureau, will be appointed Director-General of the Banking and Securities Business Supervision Bureau, and Mr. Horimoto, the current Director-General of the Strategy Development and Management Bureau, will be appointed Director-General of the Asset Management and Insurance Business Supervision Bureau. Mr. Yanase, the current Vice Commissioner, Systemic Stability and Risk, will be appointed Director-General for Operations. Mr. Okada, the current Vice Commissioner for Evidence-based Policymaking, will succeed him as Vice Commissioner for Systemic Stability and Risk. Mr. Saito, Secretary-General of the Securities and Exchange Surveillance Commission, will retire. He will be succeeded by Mr. Shibata, the current Deputy Director-General of the Policy and Markets Bureau. Mr. Ito, the Commissioner; Mr. Miyoshi, the Vice Minister for International Affairs; Mr. Inoue, the Director-General of the Policy and Markets Bureau; and Mr. Ozaki, the Vice Commissioner for International Affairs, will remain in their current positions. [Questions and answers:] Q. I would like to ask about the personnel changes. What were the respective aims of the Ministry of Finance and the FSA in making these personnel changes? In particular, the FSA is undergoing a major organizational restructuring, with the Supervision Bureau being divided into two bureaus. In addition, Mr. Horimoto has been selected as Director-General of the Asset Management and Insurance Business Supervision Bureau. Could you tell us what you expect of Mr. Horimoto and what you intend to address under the new structure? We would also appreciate any message that you intended to convey through these appointments. A. This time, a considerable number of officials will remain in their current positions at both the Ministry and the FSA. Compared with when I served there, the officials involved are from substantially more senior cohorts. I myself have the impression that greater weight has been placed on experience and that the overall lineup has gained greater depth. I am also one of the persons with authority to make personnel decisions. All of these personnel decisions are based on assigning the right person to the right position. Therefore, if I were to describe their aim, it would be to assign the right person to the right position. The FSA is undertaking this organizational restructuring because there is a rationale for doing so. In any event, even when we look at matters such as frontier AI, what constitutes fact changes in the space of one or two weeks. To respond to such changes, we cannot retain organizations and structures from an era when digital technologies such as generative AI did not exist. First, digital technologies such as generative AI are advancing at such a pace. Financial services also need to be transformed. In addition, there are many meetings at the Prime Minister's Office, and responding to cyberattacks is also extremely important in the financial industry. Organizations and structures must therefore be capable of responding to such threats. Furthermore, initiatives to promote Japan as a leading asset management center continue to be extremely important for the development of Japan’s economy, particularly under the current circumstances. In other words, we must further develop the initiatives to promote Japan as a leading asset management center along the lines of a financial strategy to promote growth investment. This is also important. At the same time, as the activities of financial institutions become increasingly complex and diverse, there are also scandals and misconduct, about which I frequently receive questions from you at these press conferences. These issues must also be addressed. Taking all of these matters into consideration, we reorganized the supervisory functions and put in place an environment that will enable supervisory operations to be conducted in a more meticulous, efficient, and effective manner. There are also matters concerning divisions and offices at a more detailed level. Please ask the administrative staff about those matters.

(Excerpt) (Tuesday, August ４, 2026, 12:18 pm to 12:28 pm) [Opening remarks:] Minister) First, I would like to say a few words about the use of reserve funds. I would like to offer my sincere prayers for those who lost their lives in the 2026 Kumamoto Earthquake, which struck on July 28. I would also like to extend my heartfelt sympathies to all those affected by the disaster. At today’s Cabinet meeting, the Cabinet decided to use a total of 24.2 billion yen in reserve funds to respond to the 2026 Kumamoto Earthquake. ... I would now like to explain the measures taken thus far by the Ministry of Finance and the Financial Services Agency. To ensure that residents and businesses in the affected areas do not encounter difficulties with cash flow and other matters, we have repeatedly requested that public and private financial institutions respond flexibly and take other appropriate measures. With regard to government property, we have also been working to provide information on government property that can be used for emergency accommodation or as temporary storage sites for waste. [Questions and answers:] Q. I understand that you have also been in contact with local government leaders there. First, how do you perceive the characteristics of this disaster? What kinds of support do you think will be required going forward? A. For approximately two years, I was responsible for national resilience and disaster prevention and mitigation as Acting Chairperson of the Liberal Democratic Party’s Policy Research Council, and I visited a considerable number of affected areas. I also visited the affected area at the time of the previous Kumamoto Earthquake. Based on those experiences, rather than focusing on what particular characteristics this disaster may have, I would say that the needs in the affected areas will change as the days pass following the disaster. ... At the time of the Noto Peninsula Earthquake as well, I responded to the situation as Chairperson of the Research Commission on the Finance and Banking Systems, after obtaining permission from then LDP President Kishida. The businesses concerned were all small and micro enterprises whose main financial institutions were two shinkin banks. Most of the branches had suffered extensive damage, and there was an extremely pressing sense of crisis that capital might decrease at the end of March if impairment accounting were applied. To prevent that, I went to the affected area in my capacity as, in a sense, an expert. I then coordinated with the Financial Services Agency and the Regional Finance Bureau, and we decided that impairment accounting would not be necessary. Consequently, there were no problems with cash inflows or outflows there. Such responses will also be necessary going forward. I cannot yet announce when I will visit the affected area. If I went there for the same purpose as the Minister of Land, Infrastructure, Transport and Tourism or the Minister of Agriculture, Forestry and Fisheries, I would not be of much help. What I should address are matters relating to cash flow and other fiscal matters going forward. This time, we were able to decide on this use of reserve funds as a first step. However, this will by no means be sufficient to cover everything. To provide reassurance regarding such matters, I am thinking that I may visit the affected area in the not-too-distant future solely for that purpose.

The Securities and Futures Commission (SFC) notes that the Independent Commission Against Corruption (ICAC) has today charged a former SFC manager with obtaining access to a computer with a view to dishonest gain. The charges follow a joint investigation between the SFC and the ICAC. The employment of the staff member concerned was terminated immediately after her arrest, and the SFC has fully cooperated with the ICAC throughout the investigation. Protecting highly confidential regulatory information and enforcing strict controls over internal system access are core institutional responsibilities for the SFC. The SFC has undertaken an ongoing comprehensive review of the risks and internal governance issues highlighted by the case. Consistent with the regulatory requirements we impose on those whom we regulate, we hold our staff to the highest standards of integrity, professional conduct, and confidentiality, and maintain a zero-tolerance policy against any form of misconduct. As court proceedings and related investigations remain active, the SFC is unable to comment further on the specifics of the case.

ASIC is warning Australians that a quick online search is not enough to verify investment opportunities as scammers use generative AI to create vast networks of deepfake websites and endorsements to lure victims. ASIC has seen a sharp rise in online scams using deepfake videos of celebrities and politicians to encourage Australians to part with their money, with criminals increasingly exploiting topical issues in the news to deceive consumers. The most impersonated public figures in FY26 included Anthony Albanese, Jacqui Lambie, Angus Taylor, Tom Piotrowski and Alan Kohler, according to the National Anti-Scam Centre (NASC). In the same year, ASIC removed more than 19,400 online scams – up 182% on the previous year - including fake websites, social media ads, phishing scams and cryptocurrency investment scams. Celebrity impersonations are often just one part of a broader scam network that is designed to appear legitimate and reinforced by spoof websites, fake reviews, fabricated news articles and AI-generated videos. ASIC Chair Sarah Court said Australians should be especially cautious if they see a celebrity or influencer promoting an investment opportunity online. 'The presence of polished content, familiar branding or convincing testimonials does not mean an investment is legitimate,’ Ms Court said. ‘AI is making investment scams more convincing and harder to detect. A simple online search is not enough to verify whether an opportunity is legitimate. ‘Before investing, consumers should verify website addresses, check whether a person or company is legitimate and who they claim to be, and be wary of urgent calls to act. A web of deception Scammers are targeting the very places online that consumers use to check whether an investment is genuine. Scammers will create scam brands, use unique phrases or words, and build an online footprint of supportive news articles, positive reviews, ads and websites that work together to deceive consumers. Potential investors may be taken from an ad on a well-known platform to a fake news article featuring celebrity endorsements and fabricated public comments supporting the investment. Once victims have provided their details, scammers follow up with scripted phone calls, fake investment platforms and even small profit payments to build trust. Often these ‘investment opportunities’ simply do not exist, and the money instead goes into the hands of overseas criminals, never to be recovered. Top impersonated public figures Scammers are increasingly exploiting the concept of ‘social proof’ by deliberately misusing images of trusted public figures to promote investments that are, in fact, scams. In FY26, the following well-known Australians were the most impersonated by online scammers with losses of $7.4 million, based on reports to Scamwatch: Anthony Albanese Tom Piotrowski Alan Kohler Stephen Koukoulas Jacqui Lambie and Angus Taylor (appear in the same scam) Dick Smith Gina Rinehart Alan Oster Pauline Hanson John Laws It is important to note that scammers are receptive to broader changes in the news cycle and will opportunistically change which celebrities they impersonate to capitalise on topical issues. Advice for consumers Scamwatch, a service run by the National Anti-Scam Centre (NASC), has three simple steps to help Australians avoid scams online: Stop before you share money or personal information Check who you're really dealing with using contact details you find yourself Protect yourself and others by reporting scams to your bank, cyber.gov.au and Scamwatch. ASIC advises that consumers should always check to see if an investment opportunity is accompanied by a verified Australian Financial Services Licence. But consumers are warned that cursory AFSL checks are not enough. Scammers misuse AFS licence details by claiming to hold a licence, using another entity’s licence number, or impersonating a licensed financial services business. Before investing, consumers should verify the licence holder’s name and number on ASIC’s professional registers, and ensure those details match the business or investment opportunity being promoted. Relying solely on advertisements, websites or online search results can put consumers at risk. Consumers can also consult the Moneysmart Investor Alert List for suspected scam companies.Investment opportunities that cannot be verified through trusted sources, or that encourage consumers to bypass licensed professionals, should be treated with extreme caution. ASIC’s resources can be found at the below links. Professional registers search Investor alert list - Moneysmart.gov.au ASIC continues to protect Australians online Since launching its takedown capability three years ago, ASIC has removed more than 33,400 scam websites, social media ads and phishing scams. In FY26, ASIC took down more than 19,400 scams - an increase of 182% on FY25 when we removed 6,915 fake websites, social media ads, phishing scams and cryptocurrency investment scams. We saw a jump in our takedowns of phishing scam hyperlinks with a 279% increase, removing 5,476 of these. Our takedowns of fake investment platforms also jumped by 151% in the last financial year, with 7,051 platforms removed. Takedowns of cryptocurrency investment scams also increased by almost 30% with the removal of 3,106 scams in the last financial year. 'ASIC has significantly stepped up its online scam takedown efforts,’ Ms Court said. said. 'Our takedown capability is important, but prevention is the best defence. That is why it is so important that Australians understand the risks of investing outside the licensed financial system and know which sources they can trust before handing over their savings.’ ‘Always look for an Australian Financial Services licence number and independently verify that number through ASIC’s free public registers. If a business cannot provide verifiable licence details, or if the information does not match ASIC’s records, do not invest.’ Background ASIC has previously warned the public about the rise of pump and dump schemes, which use similar ‘social proof’ methods to gain victims’ trust: 26-157MR ASIC warning: Pump and dump scammers intensify use of fake celebrity endorsements. ASIC has also previously warned consumers about fake celebrity endorsements of investment platforms: 24-036MR It’s a scam! Celebrities are not getting rich from online investment trading platforms. Industry participants are also urged to add their AFS licensee website addresses to the Professional Registers Search to allow consumers to verify whether a bank, investment platform or super fund is legitimate: 26-122MR ASIC helps strengthen the fight against imposter scams in financial services.

His Excellency Mr. Mazen Turki Al-Sudairi, Chairman of the Board of the Capital Market Authority, extended his sincere thanks and appreciation to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister - may Allah protect them - for the royal trust upon the issuance of the Royal Order appointing him as Chairman of the Board of the Capital Market Authority with the rank of Minister. His Excellency expressed his deep gratitude and pride in the generous royal trust, praying to Allah Almighty to help him fulfill this responsibility and grant him success in continuing to exert efforts that contribute to developing and growing the capital market, achieving the aspirations of the wise leadership, and serving the nation.​​

The Egyptian Exchange (EGX) announces that the following semi-annual indices review changes will become effective on Tuesday, 1 September 2026.   EGX30 index will witness a change in 4 companies, while EGX70 EWI will witness a change of 12 companies; 3 of which joined EGX30 index. EGX100 EWI will witness a change of 9 companies. A number of amendments has been introduced regarding the constituents’ selection criteria of the EGX30 index and EGX70 EWI, which comes within the framework of EGX ongoing efforts to develop its market indices’ methodologies, with the aim of enhancing their efficiency and stability and to be on par with the international best practices, taking into account the nature and objectives of each index and the needs of investors and investment funds tracking these indices. As for EGX30 Index, the criterion for ranking eligible companies has been amended by assigning a 50% weight to Free Float Adjusted Market Capitalization and a 50% weight to Average Daily Traded Value, instead of relying solely on Average Daily Traded Value in the final ranking of companies. This aims to ensure the inclusion of large companies with good liquidity levels. For EGX70 EWI, a Buffer Rule has been introduced to limit constituent turnover. Under the new rule, existing constituents of the index will be retained, provided that they meet the eligibility criteria, as long as their ranking falls within the top 85 companies, based on Average Daily Traded Value. This aims to reduce significant changes in index constituents. EGX33 Shariah index, which includes the most compliant companies with Shariah among the highly liquid companies, will witness a change in 2 companies.  Additionally, EGX35-LV index, which includes companies with the lowest price volatility among the highly liquid companies, will witness a change in 13 companies. EGX conducts the semi-annual rebalance for its indices at the beginning of March and September of every year, whereby constituents are reviewed according to their respective methodologies. Detailed tables showing the results of the review, including the names of the companies added to and removed from each index, are provided below. For more details about the eligibility criteria of EGX indices, please refer to the indices’ methodologies on EGX website. The methodologies of the relevant indices are currently being updated to reflect the newly approved amendments. The updated methodologies will be published prior to the implementation of the results of the September 2026 semi-annual review. EGX30, EGX30 Capped, & EGX30 TR Index No. Additions No. Deletions 1 Misr Fertilizers Production Company - Mopco 1 Arabian Cement Company 2 Alexandria Containers and goods 2 Egyptian Chemical Industries (Kima) 3 Cleopatra Hospital Company 3 Oriental Weavers 4 Sidi Kerir Petrochemicals - SIDPEC 4 Orascom Investment Holding   EGX70 EWI No. Additions No. Deletions 1 Atlas For Investment and Food Industries 1 International Agricultural Products 2 Arabian Cement Company 2 Glaxo Smith Kline 3 Electro Cable Egypt 3 Alexandria Flour Mills 4 Oriental Weavers 4 Raya Customer Experience 5 Orascom Investment Holding 5 Sidi Kerir Petrochemicals - SIDPEC 6 El Kahera Housing 6 El Ezz Porcelain (Gemma) 7 Gadwa For Industrial Development 7 Misr Fertilizers Production Company - Mopco 8 Bonyan for Development and Trade 8 Taaleem Management Services 9 Gourmet Egypt.Com Foods 9 Al Khair River For Development Agricultural Investment&Envir 10 Misr Beni Suef Cement 10 El Ahli Investment and Development 11 Egyptian Chemical Industries (Kima) 11 Tanmiya for Real Estate Investment 12 Pioneers Properties For Urban Development - PRE Group 12 Alexandria Containers and goods    EGX100 EWI No. Additions No. Deletions 1 Atlas For Investment and Food Industries 1 International Agricultural Products 2 El Kahera Housing 2 Alexandria Flour Mills 3 Gadwa For Industrial Development 3 El Ezz Porcelain (Gemma) 4 Bonyan for Development and Trade 4 Al Khair River For Development Agricultural Investment&Envir 5 Gourmet Egypt.Com Foods 5 El Ahli Investment and Development 6 Misr Beni Suef Cement 6 Glaxo Smith Kline 7 Cleopatra Hospital Company 7 Raya Customer Experience 8 Electro Cable Egypt 8 Taaleem Management Services 9 Pioneers Properties For Urban Development - PRE Group 9 Tanmiya for Real Estate Investment   EGX33 Shariah Index No. Additions No . Deletions 1 Gourmet Egypt.Com Foods 1 Cairo For Investment And Real Estate Developments-CIRA Edu 2 Cleopatra Hospital Company 2 Obour Land For Food Industries    EGX35-LV Index No. Additions No. Deletions 1 Canal Shipping Agencies 1 El Shams Housing & Urbanization 2 Beltone Holding 2 Al Khair River For Development Agricultural Investment&Envir 3 Gadwa For Industrial Development 3 Edita Food Industries S.A.E 4 Cairo Oils & Soap 4 El Ahli Investment and Development 5 Industrial & Engineering Projects 5 Abu Dhabi Islamic Bank- Egypt 6 Dice Sport & Casual Wear 6 Housing & Development Bank 7 Misr National Steel - Ataqa 7 Palm Hills Development Company 8 Zahraa Maadi Investment & Development 8 Eastern Company 9 MM Group For Industry And International Trade 9 Engineering Industries (ICON) 10 Electro Cable Egypt 10 Abou Kir Fertilizers 11 ELSWEDY ELECTRIC 11 Alexandria Containers and goods 12 El Nasr Clothes & Textiles (Kabo) 12 Telecom Egypt 13 El Kahera Housing 13 Heliopolis Housing    Sectoral Indices The Paper & Packaging Sector Index remained discontinued, as it did not meet the criteria of the minimum number of constituents.   

All companies listed on the Qatar Stock Exchange (*except Al Faleh Educational Holding) have disclosed their   financial statement for the six-month period ending 30th June , 2026, the results show a net profit of QR 23.63 billion compared to QR 26.66 billion for the same period last year (2025), a decrease of 11.37%.  All the financial statements of listed companies are available on the QSE website. The QSE management wishes to thank all the listed companies for their cooperation in promoting the principle of disclosure and transparency. * The fiscal year for Al Faleh Holding ends on August 31 of each year.

Click here to download Tehran Securities Exchange's weekly market report.

The Securities and Exchange Commission today charged New York resident Andrew Spaventa and three entities he owned and controlled with fraud and other violations in connection with unregistered securities offerings of private funds that purportedly provided retail investors an opportunity to invest in shares of “pre-IPO” private companies while charging hidden fees. According to the SEC’s complaint, between approximately December 2020 and June 2025, Spaventa, The Spaventa Group LLC, TSG Capital Advisors LLC, and TSG Alpha Partners LLC raised more than $74 million from more than 800 mostly retail investors across the United States for eleven private funds. Through entities he owned, Spaventa purchased the pre-IPO shares, either directly or through another investment fund, and then sold them in principal transactions to his funds at marked-up prices. These markups were then passed on to investors in the form of hidden fees charged on the sale of membership interests in the funds. “Unsolicited calls and high-pressure sales tactics are the calling cards of so-called boiler room operators. They get you on the phone and then hit you with the hidden fees,” said Sheldon L. Pollock, Associate Director of the SEC’s New York Regional Office. “We encourage investors to be vigilant when it comes to these types of tactics.” As alleged, Spaventa and the entities he controlled solicited these investments using over 100 “sales agents” to cold call and pitch the funds to thousands of prospective investors, many of them retirees, using high-pressure sales tactics. The defendants falsely told investors that they would pay either no upfront fees at all or upfront fees of at most 12.5%, when in reality, the prices investors paid were on average approximately 46% higher than the prices Spaventa paid for the investments. As a result of their fraud, the defendants collected approximately $23 million in upfront fees from unsuspecting investors – of which more than $12 million was funneled to their sales agents for commissions and approximately $4 million went to Spaventa personally.  The SEC’s complaint, filed in the U.S. District Court for the Southern District of New York, charges defendants with violating the antifraud, securities registration, and broker-dealer registration provisions of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Advisers Act of 1940. It also charges Spaventa with control person liability and aiding and abetting violations. The complaint seeks permanent injunctions, disgorgement of ill-gotten gains and prejudgment interest, and civil penalties from all of the defendants, and conduct-based injunctions against Spaventa. Investors can learn more about the risks of investing in pre-IPO offerings in this Investor Alert. Resources SEC Complaint

The current reports for the week of August 11, 2026 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data. Additional information on Commitments of Traders (COT) | CFTC.gov Historical Viewable Historical Compressed COT Release Schedule CFTC Public Reporting Environment (PRE) PRE User Guide PRE Frequently Asked Questions (FAQs)  

The Office of the Comptroller of the Currency (OCC) today released its annual update to the Bank Accounting Advisory Series (BAAS). The BAAS contains staff responses to frequently asked questions from the banking industry and bank examiners on a variety of accounting topics and promotes consistent application of accounting standards and regulatory reporting among national banks and federal savings associations. This edition of the BAAS reflects updates to accounting standards issued by the Financial Accounting Standards Board on topics including purchased loans, government grants, and internal-use software. The BAAS does not represent rules or regulations of the OCC. Rather, it contains the OCC Office of the Chief Accountant’s interpretations of generally accepted accounting principles and regulatory guidance based on the facts and circumstances presented. Related Link Bank Accounting Advisory Series (August 2026)

On 17 August 2026, the following updated constituents list for OFZ Zero Coupon Yield Curve will come into force. № Name Regnumber 1 OFZ 26245 SU26245RMFS9 2 OFZ 26207 SU26207RMFS9 3 OFZ 26232 SU26232RMFS7 4 OFZ 26212 SU26212RMFS9 5 OFZ 26242 SU26242RMFS6 6 OFZ 26228 SU26228RMFS5 7 OFZ 26218 SU26218RMFS6 8 OFZ 26241 SU26241RMFS8 9 OFZ 26221 SU26221RMFS0 10 OFZ 26244 SU26244RMFS2 11 OFZ 26225 SU26225RMFS1 12 OFZ 26233 SU26233RMFS5 13 OFZ 26240 SU26240RMFS0 14 OFZ 26238 SU26238RMFS4 15 OFZ 26239 SU26239RMFS2 16 OFZ 26247 SU26247RMFS5 17 OFZ 26236 SU26236RMFS8 18 OFZ 26248 SU26248RMFS3 19 OFZ 26235 SU26235RMFS0 20 OFZ 26246 SU26246RMFS7 21 OFZ 26249 SU26249RMFS1 22 OFZ 26250 SU26250RMFS9 23 OFZ 26252 SU26252RMFS5 24 OFZ 26251 SU26251RMFS7 25 OFZ 26253 SU26253RMFS3 26 OFZ 26254 SU26254RMFS1  

A total turnover of 12.153 billion shares worth ₦176.058 billion in 224,146 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 5.359 billion shares valued at ₦139.053 billion that exchanged hands last week in 261,869 deals. Click here for  full details.

As Eurex celebrates 15 years in Singapore, the anniversary marks not only the growth of its presence across Asia, but also the development of its regional clearing capabilities. While the Singapore office has been an integral part of the Eurex network for over a decade, the Clearing & Risk Operations function was established in 2018, making it a relatively young yet rapidly growing part of Eurex global infrastructure. In this interview, Su Mei Chan, Head of Clearing & Risk Operations Singapore, reflects on the development of the Singapore operations hub, the role it plays in supporting Eurex's global clearing business, and how technology and operational resilience will shape the CCP’s next chapter. Su Mei, as Eurex celebrates 15 years in Singapore, what does this milestone represent from the perspective of Clearing & Risk Operations? This anniversary reflects two important milestones. The first is Eurex's long-standing commitment to Asia and the steady expansion of our presence across the region over the past 15 years. The second is the growth of our Clearing & Risk Operations function, which was established in Singapore in December 2018. Although the operations team is relatively young, it has quickly become an integral part of Eurex's global clearing infrastructure. Today, the team plays a critical role in supporting Eurex’s global clearing ecosystem by bridging time zones, ensuring business continuity, and strengthening operational resilience across regions. Building a clearing operations hub from the ground up is no small task. What were the biggest priorities and challenges when establishing the function in Singapore? Building the team required us to establish capabilities from the ground up while maintaining the high operational standards that clients expect across the Eurex network. A key challenge was scaling rapidly without compromising global consistency. Processes needed to be fully aligned with Eurex’s established frameworks, while remaining adaptable to regional dynamics. At the same time, significant emphasis was placed on developing deep domain expertise and instilling a strong risk and control culture within the team. The global nature of our service model adds another layer of complexity. While the team is based in Asia, the majority of the clearing members we support are located in Europe and U.S. This requires seamless coordination across regions, as well as a shared understanding of client expectations and market practices. To enable this, a structured workforce strategy was introduced. Two expatriates from Europe are deployed to Singapore on two-year rotations, ensuring a continuous and consistent flow of knowledge, strengthening process alignment, and fostering strong collaboration between teams across regions.How does having a dedicated clearing operations team in Singapore strengthen the service Eurex provides to clients around the world? The presence of a clearing operations team in Asia delivers tangible benefits across the value chain. Although most clients are located in Europe and the U.S., the Singapore team plays a crucial role as the “eyes on the ground” ahead of the European trading day. Through close monitoring of overnight batch processing, system readiness, and key risk events, the team help ensure that potential issues are identified and addressed before markets open. This proactive approach strengthens operational stability, reduces risk, and enhances client confidence, ensuring that each trading day begins on a robust footing. At the same time, for clients in India and across Asia, the regional presence provides greater accessibility, faster response times, and improved service quality, supporting their participation in Eurex’s clearing ecosystem.      Today, clients expect the same level of responsiveness and operational resilience during Asian hours as they do in Europe. Su Mei Chan Head of Clearing & Risk Operations Singapore at Eurex   As clearing volumes and product complexity continue to increase, how has the Singapore operations function evolved to support that growth? Since 2018, the Clearing & Risk Operations function has continued to evolve to keep pace with increasing volumes and growing product complexity. Automation and process optimisation have been central to that strategy, allowing us to handle higher volumes while maintaining the accuracy and controls that clearing operations require. This is particularly critical given the team’s role in overnight monitoring and batch cycle oversight, where precision and timeliness are essential. Standardised processes and integration with our global systems also ensure consistency across regions, while the increased use of monitoring tools and data analytics enables us to identify potential risks earlier and maintain operational readiness ahead of each trading session. Looking ahead, how do you see the future of clearing operations evolving, and what role will Singapore play in Eurex's next phase of growth? Technology will play an increasingly important role as Eurex continues to expand its clearing footprint in APAC. We see significant opportunities to leverage AI and advanced technologies to improve monitoring, exception handling, and operational decision-making. These technologies can enhance both efficiency and accuracy while reducing manual intervention and operational risk. At the same time, maintaining operational resilience remains fundamental, particularly in an increasingly interconnected and dynamic market environment. Strengthening our follow-the-sun operating model will further enhance coordination between Europe and Asia, ensuring seamless global coverage. Equally important is continued investment in people. Alongside our existing exchange program with Europe, we continue to create opportunities for colleagues in Singapore to participate in global projects, meetings, and initiatives, helping them build expertise while strengthening relationships across the organisation. Having helped build the Clearing & Risk Operations function over the past seven years, what has been your biggest takeaway from that journey? One thing has become very clear: successful clearing operations are built on trust. That means delivering resilience during periods of market stress, maintaining reliability through consistent operational excellence, and continually evolving to remain relevant as client needs change. While Eurex Singapore marks 15 years, the Clearing & Risk Operations function is still in its early stages. Yet, in a relatively short time, it has established itself as a critical enabler of global operations, quietly ensuring that each trading day begins smoothly and reliably. As we look ahead, our focus remains clear: to continue strengthening this foundation and delivering world-class clearing operations that support the growth, stability, and integrity of global financial markets. Further information  Eurex Clearing Related topics  The early years and expansion in APAC  Building global markets  Strengthening client relationships across APAC

ETFGI reports ETFs industry in the United States Gathered a Record US$ 1.23 Trillion in YTD Net Inflows at end of July. During July, the ETFs industry in the United States gathered net inflows of US$193.42 billion, bringing year-to-date net inflows to US$1.23 trillion, according to ETFGI's July 2026 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. ETFGI, is a 14 year old leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, and ETF TV on global ETF industry trends. (All dollar values in USD unless otherwise noted) Highlights Assets of $15.74 Tn invested in the ETFs industry in the United States at the end of July, below the record high assets of $15.78 Tn in June 2026. Assets increased 17.3% YTD in 2026, going from $13.43 Tn at end of 2025 to $15.74 Tn. Net inflows of $193.42 Bn in July. YTD net inflows of $1.23 Tn are the highest on record, followed by YTD net inflows of $678.12 Bn in 2025 and the third highest recorded YTD net inflows are of $577.19 Bn in 2024. 51st month of consecutive net inflows. US ETF industry remains highly concentrated, the three largest providers account for 70.6% of total AUM  YTD 889 new ETFs have been launched by 169 providers, while 186 ETFs have closed.  “The S&P 500 declined slightly by 0.06% in July but remained up 10.14% year-to-date in 2026. Developed markets excluding the US gained 0.30% during July and were up 14.62% year-to-date, with Luxembourg (+12.10%) and Norway (+9.93%) posting the strongest gains among developed markets. Emerging markets fell 0.33% in July but remained up 9.40% year-to-date, while Taiwan (-7.80%) and Turkey (-5.91%) recorded the largest declines among emerging markets,” according to Deborah Fuhr, Managing Partner, Founder, and Owner of ETFGI. Growth in assets in the ETFs industry in the United States as of the end of July The ETFs industry in the United States had 5,590 ETFs, assets of $15.74 Tn, from 493 providers on 3 exchanges at the end of July. ETF issuers The US ETF industry remains highly concentrated, with the three largest providers accounting for 70.6% of total assets under management. iShares led the market with $4.53 trillion in assets and a 28.8% market share, closely followed by Vanguard with $4.51 trillion and a 28.7% share. State Street SPDR ETFs ranked third with $2.08 trillion and a 13.2% market share. The other 490 providers each represented less than 7% of total industry assets. Net flows  US-listed ETFs and ETPs gathered net inflows of $193.42 billion in July 2026. Equity ETFs and ETPs attracted net inflows of $89.09 billion during July, bringing year-to-date inflows to $567.25 billion, more than double the $249.69 billion gathered during the same period in 2025. Fixed income ETFs and ETPs recorded net inflows of $30.88 billion in July, increasing year-to-date inflows to $218.05 billion, compared with $120.13 billion at the end of July 2025. Commodities ETFs and ETPs reported net inflows of $831.10 million in July; however, year-to-date flows remained negative at -$8.20 billion, a sharp contrast to the $22.79 billion in net inflows recorded over the same period in 2025. Active ETFs and ETPs continued to see strong investor demand, gathering $63.58 billion in net inflows during July and bringing year-to-date inflows to $466.79 billion, well above the $263.03 billion recorded by the end of July 2025. Year-to-date inflows into equity, fixed income, and active ETFs and ETPs have all surpassed the levels recorded at the end of July 2025, highlighting continued strong investor demand for these segments of the US ETF market. Substantial inflows can be attributed to the top 20 ETF's by net new assets, which collectively gathered $111.10 Bn in July, the Vanguard S&P 500 ETF (VOO US) gathered $19.66 Bn alone. Top 20 ETFs by net new assets July 2026: US Substantial inflows can be attributed to the top 10 ETP's by net new assets, which collectively gathered $2.15 Bn in July, the iShares Silver Trust (SLV US) gathered $401.35 Mn alone. Top 10 ETPs by net new assets July 2026: US Investors have tended to invest in Equity ETFs/ETPs during July.

REMIT is the EU-wide framework that detects and deters market manipulation and abuse in wholesale energy markets. It enhances transparency and trust in the integrity of Europe’s energy markets. ACER’s REMIT Quarterlies provide updates on REMIT-related activities, helping stakeholders stay informed. Due to strong interest from readers, the latest issue continues the series on algorithmic trading in energy markets. What’s new? Following the overview of algorithmic trading and its implications under REMIT in the 44th edition, the 45th REMIT Quarterly explains how ACER is adapting its market surveillance to the growing use of this practice in wholesale energy markets. Algorithmic trading uses computer programs to automatically execute trades based on pre-defined instructions (such as when to buy or sell), often at speeds and volumes beyond human capacity. As energy markets become increasingly automated, REMIT continues to evolve to ensure that potential market abuse can be effectively detected and addressed, regardless of whether trading is manual or automated.  Also in this Quarterly: Takeaways from two joint ACER-European Commission events: the annual REMIT workshop (11 June 2026) and the webinar on new REMIT implementing rules (23 April 2026).  A case report on the Hungarian energy regulator’s decision to fine Hungaro Energy for manipulating the gas market. Updates on market surveillance, including statistics on the 453 REMIT breach cases under review at the end of Q2 2026. Changes to the geographical scope of inside information platforms (IIPs) and how market participants are using them. Recent energy market trends, showing a continued increase in trading on organised market places (OMPs), driven by growth in natural gas forward markets.   Read all the REMIT Quarterlies  

On November 17, 2025, the Division announced that for the 2025–2026 proxy season (October 1, 2025 – September 30, 2026) it would not respond to no-action requests or express any views regarding companies’ intended reliance on any basis for excluding shareholder proposals under Rule 14a-8, except for no-action requests to exclude a proposal under Rule 14a-8(i)(1).[1] The Division also stated that, if a company wished to receive a response for any proposal that it intended to exclude pursuant to a basis other than Rule 14a-8(i)(1), the company or its counsel could include, as part of its notification pursuant to Rule 14a-8(j), an unqualified representation that the company had a reasonable basis to exclude the proposal based on the provisions of Rule 14a-8, prior published guidance, and/or judicial decisions. In those situations, the Division stated that it would respond with a letter indicating that, based solely on the company’s or counsel’s representation, the Division would not object if the company omitted the proposal from its proxy materials. In order to focus Division resources on the review of Securities Act and Exchange Act filings, including those reviews that are statutorily required, for the protection of investors and facilitation of capital formation, and in light of the extensive body of guidance from the Commission and the staff available to both companies and proponents on Rule 14a-8, the Division has determined to discontinue responding to Rule 14a-8 no-action requests entirely, including those submitted under Rule 14a-8(i)(1),[2] effective immediately, unless and until the Division announces otherwise. It also will no longer respond to notices filed under Rule 14a-8(j) with a letter indicating that it will not object if a company omits a proposal from its proxy materials. Although the staff “has for many years engaged in the informal practice of expressing its enforcement position” in response to notices submitted under Rule 14a-8(j), the Commission has also long recognized that “[n]o response or other action by the Commission or its staff is required in regard to such communications.”[3] Companies will continue to be required under Rule 14a-8(j) to submit notices to the Commission containing the information required by the rule when they intend to exclude shareholder proposals from their proxy materials. Companies should submit those notices using the online Shareholder Proposal Form. In addition, the Division’s shareholder proposal email address is no longer functional. Companies and shareholder proponents should submit any questions or other correspondence using the Shareholder Proposal Form. The Division of Investment Management is responsible for reviewing Rule 14a-8 requests related to investment companies. In order to focus the Division of Investment Management resources on the review of investment company filings for the protection of investors and facilitation of capital formation, the staff of the Division of Investment Management will take a substantially similar approach as set forth above. Any notices submitted pursuant to Rule 14a-8(j) related to investment companies must be submitted to the Division of Investment Management by email to IMshareholderproposals@sec.gov. Companies and shareholder proponents should submit any questions or other correspondence concerning investment companies to the Division of Investment Management’s Disclosure Review and Accounting Office at IMshareholderproposals@sec.gov or 202-551-6921. [1] Statement Regarding the Division of Corporation Finance’s Role in the Exchange Act Rule 14a-8 Process for the Current Proxy Season (Nov. 17, 2025), available at https://www.sec.gov/newsroom/speeches-statements/statement-regarding-division-corporation-finances-role-exchange-act-rule-14a-8-process-current-proxy-season. [2] The Division did not receive any no-action requests to exclude a proposal under Rule 14a-8(i)(1) during the 2025-2026 proxy season. [3] Statement of Informal Procedures for the Rendering of Staff Advice with Respect to Shareholder Proposals, Release No. 34-12599 (July 7, 1976) [41 FR 29989 (July 20, 1976)].

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Paul Taylor, former CEO of Blue Horizon Asset Management (BHAM) has been fined £489,000 and banned from working in financial services by the FCA. The former managing director of the firm, Esmeralda Toni, has also been fined £121,200 for serious misconduct and banned by the FCA. During his time at BHAM, Mr Taylor made misleading statements and falsified information during 2 separate attempted acquisitions. While attempting to acquire a UK bank, Mr Taylor falsified, or arranged to be falsified, documents claiming to be the owner of a bond portfolio worth approximately €200m. Ms Toni knowingly assisted Mr Taylor by making misleading statements to the bank and by helping falsify the documents. Mr Taylor knew, and Ms Toni understood that it was likely, that these statements and documents would be relied upon by the FCA and Prudential Regulation Authority (PRA) as part of their assessment for the proposed acquisition. Ms Toni was interviewed as part of BHAM’s internal investigation into the events. During the investigation, she denied providing misleading statements and the creation of false documents. On a separate occasion, Mr Taylor tried to acquire Reading Football Club. Mr Taylor made misleading statements, again falsely claiming to own the €200m bond portfolio to make the acquisition. The FCA found that Mr Taylor and Ms Toni acted dishonestly over an extended period. Their actions were intended to mislead BHAM colleagues, counterparties and regulators. Therese Chambers, joint executive director of enforcement and market oversight at the FCA, said: 'Trust in financial services relies on those working in it to be honest. Mr Taylor and Ms Toni fell woefully short of even this minimum expectation. They lied and lied again, first for commercial gain and then to cover their backs. They have no place in our industry.' Background Read the final notice for Paul Taylor. Read the final notice for Esmeralda Toni. Between 14 February 2022 and 17 January 2025, Mr Taylor was a chief executive and executive director at Blue Horizon Asset Management Ltd. Between 14 February 2022 and 16 December 2025, Ms Toni was an executive director at Blue Horizon Asset Management Ltd.   The FCA found that Mr Taylor and Ms Toni breached Individual Conduct Rule 1, which requires individuals to act with integrity. Mr Taylor agreed to resolve the matter and qualified for a 30% discount under the FCA’s settlement procedures. Without this discount, the financial penalty would have been £698,600. Ms Toni agreed to resolve the matter and qualified for a 30% discount under the FCA settlement procedures. Without the discount, the financial penalty would have been £173,100. The FCA has banned Mr Taylor and Ms Toni from performing any function in relation to regulated activities, having concluded that they are not fit and proper persons. The FCA has the power to impose financial penalties under section 66 of the Financial Services and Markets Act 2000 and to prohibit individuals under section 56 of that act. The notices refer to certain parties in addition to Mr Taylor and Ms Toni. Any reference to those parties is made solely to provide relevant factual context to the findings set out in the notices and should not be taken as criticism by the FCA of their conduct. Find out more about the FCA.