The World Federation of Exchanges (“The WFE”), which represents more than 200 market infrastructure providers including exchanges and CCPs, on Thursday elected eight Directors of the Board at the 57th General Assembly held in Bangkok.
The General Assembly of the WFE also formally welcomed the Dhaka Stock Exchange as a full member.
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 200 market infrastructure providers, including standalone CCPs that are not part of exchange groups.Of our members, 41% are in Asia-Pacific, 40% in EMEA and 19% in the Americas.
WFE exchanges are home to nearly 45,000 listed companies, and the market capitalisation of these entities is over $67.9 trillion; around $84.18 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2016).
BusinesAGENDA recalled that the Nigerian Stock Exchange (“the NSE”), was admitted as a Federation member during the 54th General Assembly and Annual Meeting of the WFE Seoul South Korea in 2014.
Nigeria was also the first West African stock exchange to be granted full Federation membership status.
The Directors of the Board are as follows:
1. Chairman Wu Qing, Shanghai Stock Exchange – Chairman, WFE (1-year term)
2. Mr Gilson Finkelsztain, CEO, B3 (Brasil Bolsa Balcão) – Director, Americas region (3-year term)
3. Mr Sandy Frucher, Vice Chairman, Nasdaq – Director, Americas region (3-year term)
4. Sir Chung Kong Chow, Chairman, Hong Kong Exchanges and Clearing – Director, Asia-Pacific region (3-year term)
5. Mr Loh Boon Chye, CEO, Singapore Exchange – Director, Asia-Pacific region (3-year term)
6. Mr Rashid bin Ali Al Mansoori, CEO, Qatar Stock Exchange – Director, EMEA region (3-year term)
7. Mr Khalid Abdullah Al Hussan, CEO, Saudi Stock Exchange (Tadawul) – Director, EMEA region (3-year term)
8. Mr Sunil Benimadhu, CEO, Stock Exchange of Mauritius – Director, EMEA region (3-year term)
Chairman Wu Qing, Shanghai Stock Exchange, and Chairman, WFE, said: “I am honoured to be elected as the Chairman of the WFE, and look forward to working with my colleagues over my term. The WFE, as the global voice of the exchanges and CCP industry, will continue to work with our members to address the most critical issues of the capital markets, and to fuel economic growth. We will endeavour to promote sustainable development and encourage socially responsible investment. I therefore feel privileged to steward the organisation towards its roadmap, with joint efforts from our members and the WFE office, led by Nandini Sukumar.”
Nandini Sukumar, CEO, The WFE said: “We are delighted to welcome these Directors to the WFE Board, particularly the new WFE Chairman, Wu Qing.We will see the WFE further build and develop its global mandate as the industry’s voice. And we will continue to lead the debate around the value and importance of exchanges and CCPs, not only to the financial system, but more broadly in terms of the key role they play in promoting economic growth and sustainable development.”