The World Federation of Exchanges has set out its priorities for the exchange and clearing industry in 2025, following agreement by its board of 18 market infrastructure leaders. The programme centres on strengthening the role of regulated, lit markets, producing practical ESG guidance, managing technological change including artificial intelligence, addressing the growing interface between private and public markets, and representing CCPs as new clearing rules emerge. Planned work includes advocating for regulation that applies across all forms of financial trading in response to concerns about more lightly regulated alternatives, and developing guides on ESG disclosures and transition for securities issuers and derivatives markets. The WFE will assess technology-driven operational and risk issues with an emphasis on security and resilience and engage regulators on emerging standards, examine how private markets including growth in secondary trading and retail access interact with public markets and how to align incentives to list and trade transparently, and focus on the impact of new policy making for clearing and central counterparties, particularly margin practices, while continuing its Market Infrastructure Certificate as it enters its third year.

Original source View in tracker