THE WORLD FEDERATION OF EXCHANGES ANNOUNCES SUPPORT FOR FINANCIAL LITERACY

EXCHANGES ROUND THE WORLD RING THE BELL ALL WEEK FOR FINANCIAL LITERACY

London, Monday 30 September 2019 – Exchanges and CCPs around the world have united to promote financial literacy and boost financial inclusion, ringing the bell in multiple countries on multiple days all week during World Investor Week (“WIW”) 2019.

The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, has partnered with the International Organization of Securities Commissions (“IOSCO”) to set up the inaugural ‘Ring the Bell for Financial Literacy’ initiative as part of WIW 2019, which runs from Monday 30 September to Friday 4 October 2019.

WIW is a week-long, global campaign to raise awareness about the importance of investor education and protection, and to highlight the various initiatives of securities regulators in these two critical areas.

This year, IOSCO and the WFE are working in partnership on a new initiative to support WIW called ‘Ring the Bell for Financial Literacy’. The WFE invited its members to hold an opening or closing bell ringing ceremony, or a workshop, during WIW 2019 to promote the work they do in their own jurisdictions to improve financial education and literacy. Thirty-three exchanges and CCPs are ringing the bell from Colombo to Chicago. The events are also an opportunity to bring stakeholders together to celebrate the progress that has been made by each participating exchange or CCP, and many of the events will be supported by the production of educational content, investor awareness campaigns, and seminars on financial literacy.

Nandini Sukumar, Chief Executive Officer, WFE said: “Financial literacy is the foundation of healthy, thriving, and trusted capital markets. Successful investment and the opportunity to generate growth through markets starts with financial literacy. Every single one of our 70 members - market infrastructures - spend time, energy, effort and resource on financial literacy.”

Jose Alexandre Vasco, Chair, IOSCO Committee on Retail Investors, added: “We welcome the launch of the ‘Ring the Bell for Financial Literacy’ event. Thanks to the WFE’s leadership, exchanges and market infrastructure providers will be working together with regulators to promote financial literacy during WIW 2019. The challenges remain enormous: the lack of financial skills may lead to serious consequences on long-term financial well-being. Bearing that in mind, the IOSCO campaign serves as a platform for collaboration on a global scale on investor protection and education. The ‘Ring the Bell for Financial Literacy’ event represents a very important step; not only will it pave the way for new editions, but also strengthen ties among exchanges and regulators, both locally and globally.”

The WFE members taking part this year are:

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About the World Federation of Exchanges (WFE):

Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 250 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of our members, 37% are in Asia-Pacific, 43% in EMEA and 20% in the Americas. WFE exchanges are home to nearly 48,000 listed companies, and the market capitalisation of these entities is over $70.2 trillion; around $95 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2018).

The WFE is the definitive source for exchange-traded statistics, and publishes over 350 market data indicators.  Its free statistics database stretches back more than 40 years, and provides information and insight into developments on global exchanges. The WFE works with standard-setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities’ goals of ensuring the safety and soundness of the global financial system.  

With extensive experience of developing and enforcing high standards of conduct, the WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk. We seek outcomes that maximise the common good, consumer confidence and economic growth. And we engage with policy makers and regulators in an open, collaborative way, reflecting the central, public role that exchanges and CCPs play in a globally integrated financial system.

For more information, please contact:

Anna Watson

Head of Communications, The World Federation of Exchanges 

Email:    awatson@world-exchanges.org

Phone:   +44 20 7151 4137 / 7850 287 685

Twitter:   @TheWFE