Charles Hunter, Kayan Kalipha and Luke Desmaris appeared before Westminster Magistrates’ Court, each individually charged with an offence relating to their social media posts. The individuals – often referred to as ‘finfluencers’ – are alleged to have encouraged social media followers to invest in foreign exchange (forex or FX) trading through high-risk products known as contracts for difference, without having the authorisation to promote these investments. The charges follow the FCA’s announcement in June 2025 of a coordinated global enforcement action targeting illegal financial promotions by finfluencers across multiple jurisdictions. As part of that operation, the FCA authorised criminal proceedings against these three individuals. All three defendants pleaded not guilty and will appear at Southwark Crown Court for a hearing on 8 October 2025. Anyone who believes they have suffered loss in relation to this matter is encouraged to contact the FCA consumer contact centre on 0800 111 6768 (freephone). Background The defendants’ backgrounds are as follows: a. Charles Hunter (DOB 10/09/1996), from Exeter. b. Kayan Kalipha (DOB 30/01/1990), from London. c. Luke Desmaris (DOB 01/11/1994), from Harlow. The individuals are each charged with one count of communicating an invitation to engage in investment activity, contrary to section 21(1) of the Financial Services and Markets Act 2000. A person who contravenes Section 21(1) of the Financial Services and Markets Act 2000 can be punished on indictment by a fine and/or up to 2 years' imprisonment. These charges form part of the FCA’s wider crackdown on unlawful financial promotions by finfluencers. In June 2025, the FCA led a coordinated international enforcement effort involving nine regulators across six countries. The operation resulted in arrests, interviews, cease and desist letters, and over 650 takedown requests across social media platforms and websites. Finfluencers are social media personalities who use their platform to promote financial products and share insights and advice with their followers. Many are acting legitimately and not breaking any laws. Others are individuals who tout products or services illegally and without authorisation through online videos and posts, where they use the pretence of a lavish lifestyle, often falsely, to promote success. Contracts For Difference (CFDs) are high-risk derivatives. The FCA has previously said that 80% of customers lose money when investing in CFDs because of the risks. They are often highly leveraged, which means they use debt to try and amplify returns, which can result in investors losing more than they invested. In the UK, the FCA has imposed restrictions on how CFDs and CFD-like options can be sold and marketed to retail customers. The FCA has been carrying out work to address consumer harm in the UK in this sector. Consumers should use the FCA’s Firm Checker to find out if a firm is authorised and permission for the service it’s offering. The FCA’s InvestSmart page contains useful information to help people make better investment decisions.

We’re proposing to make further cuts to data reporting, that will benefit 11,000 retail intermediary firms. Regular submission of the Retail Mediation Activities Return (RMAR) helps support firms, understand consumer outcomes, and flags any issues that may come up with retail intermediary activities. Our analysis has enabled us to reduce the reporting frequency of selected RMAR sections. Jessica Rusu, chief data, information and intelligence officer of the FCA said: 'We welcome the positive feedback from firms on our earlier data reporting consultations. This latest proposal cuts unnecessary reporting, focuses only on essential information, and reflects our role as a smarter regulator, maintaining strong oversight while easing the burden on firms.' We propose to amend the reporting frequency from quarterly and bi-annually, to annual for the following returns: Section E of RMAR (known as RMA-E) – Professional indemnity insurance Section G of RMAR (known as RMA-G) – Training and competence Section M of RMAR (known as RMA-M) – Pension transfer specialist advice The consultation closes on 15 October 2025 and forms part of our Transforming Data CollectionLink is external  programme, which is a joint venture between the FCA and Bank of England. The programme has already reduced data reporting burden for over 36,000 firms.

New Cboe Magnificent 10 Index (MGTEN Index) will measure a fixed set of actively traded U.S.-listed stocks Planned cash-settled MGTEN Index options to allow for nearly 24x5 and shorter-dated options trading Launch is latest push by Cboe to meet robust retail investor appetite for derivatives Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to launch futures and options on the new Cboe Magnificent 10 Index, subject to regulatory review. The new product suite will offer investors a way to gain targeted exposure to several of the most actively traded AI technology-focused stocks through cash-settled index futures and options. The Cboe Magnificent 10 Index, launching soon, is a thematic, equal-weighted benchmark designed to measure the price return of 10 U.S.-listed large-cap stocks of technology and growth-orientated companies. The current constituents include all the Magnificent 7 stocks (Alphabet, Apple, Amazon, Meta, Microsoft, Nvidia, and Tesla), in addition to Advanced Micro Devices (AMD), Broadcom, and Palantir. The value of the MGTEN Index will be available on the Cboe Global Indices Feed via the Cboe Global Indices Channel. Cboe intends to list futures and options on the Cboe Magnificent 10 Index that will trade on a nearly 24x5 basis, providing a comprehensive suite of tools for market participants seeking to manage risk, enhance yield, and express their views on the most dynamic segment of the U.S. equity landscape. "Both institutional and retail traders are increasingly looking for smarter ways to gain exposure to the most influential, market-moving stocks – along with tools to manage their positions and hedge risk more precisely, both intraday and around the clock," said Cathy Clay, Global Head of Derivatives at Cboe, at the HOOD Summit in Las Vegas. "With our new MGTEN Index futures and options, we're bringing the best of Cboe's indexing and derivatives expertise to meet this demand. These products deliver curated exposure to a select group of high-impact stocks in a single solution – rather than managing 10 separate positions – while helping to reduce the concentration risk that may come with trading individual stocks. In particular, as market participants increasingly utilize cash-settled index options for short-dated strategies, we believe MGTEN options will similarly be a powerful tool for implementing daily trading strategies around these in-demand stocks." MGTEN options will be cash-settled and European-style, eliminating physical delivery and the potential for early exercise, differentiating these from options on the stock components. Along with the standard monthly A.M.-settled expirations, Cboe plans to list weekly P.M.-settled options with expiries on each trading day, offering investors across the globe the ability to trade zero-days-to-expiry (0DTE) options on the index. 0DTE trading has grown significantly in recent years as investors seek the utility short-dated options can provide, including the ability to tactically hedge, more granularly manage intraday risk, and implement daily yield-generating strategies. MGTEN options will be listed and traded on Cboe Exchange, Inc. (Cboe Options). The planned cash-settled MGTEN futures will be listed and traded on Cboe Futures Exchange (CFE). MGTEN futures will offer a capital-efficient way to gain exposure to the most influential tech stocks through a single tradable product. Futures provide a way to diversify portfolios with inherent leverage, empowering investors to take larger positions with smaller upfront capital, while offering the precise ability to hedge, speculate, or enter a short position. Both the MGTEN Index futures and options will be cleared by the Options Clearing Corporation (OCC), potentially allowing for margin offsets.  Cboe aims to launch the MGTEN Index monthly options and futures in the fourth quarter of 2025, with the weekly P.M.-expiring options to begin trading in the first quarter of 2026, all subject to regulatory review. At launch, MGTEN Index futures and options trading will be available during regular trading hours and Cboe plans to extend availability through its Global Trading Hours at a later date. For more details on the index and its tradable products, visit the pre-launch resource hub here.  

Black Manta Capital Partners (“BMCP”) - a MiFID II licenced broker-dealer, specializing in regulated asset tokenization across Europe and beyond - today announced two significant developments: it has become an official node operator for the Canton Network and has launched the first-of-its-kind real estate bond in Europe on the Canton blockchain. This premier issuance, a bond for storage service provider BoxDepo, is backed by a high-occupancy, unmanned storage facility in Italy, setting a new standard for bringing real-world assets onto institutional-grade blockchain infrastructure. This partnership marks a significant milestone in the digital asset space, combining BMCP’s deep expertise in every technical, financial, and legal aspect of asset and security tokenization with the Canton Blockchain’s unique ability to provide institutional-grade privacy, compliance, and scalability. As the first MiFID II-regulated tokenization platform licensed by Germany’s BaFin and the firm behind the first regulated cross-border distribution of a tokenized security in Europe, the BoxDepo real estate bond issuance directly applies BMCP’s long standing know-how, with the Canton Network’s infrastructure providing the essential foundation to drive the next wave and future of tokenized assets. A Strategic Step into an Institutional Ecosystem By becoming a node operator on Canton, Black Manta Capital Partners joins a distinguished group of global financial players already participating in the network - including Goldman Sachs, BNY Mellon and BNP Paribas.  The Canton Network’s architecture is uniquely designed to meet the standards of regulated financial institutions. It combines the privacy and security they need with the advantages of a decentralized ledger, such as near-instant settlement and fractional ownership.   This approach is a game-changer for the digital asset landscape, providing tailored solutions to the world's largest and most important financial infrastructure providers and for BMCP’s future issuances. The First Real Estate-backed Bond on Canton in Europe Black Manta Capital Partners is launching its premier tokenization project on the Canton Network with the issuance of a tokenized, real estate-backed bond for the self-storage provider BoxDepo. Investors can access a tokenized real-world asset structured as a bond and issued and managed as a digital security on the Canton Network. The bond is secured by an existing, revenue-generating storage property fully owned by BoxDepo in Nuoro, Italy. Proceeds from the blockchain-based investment will directly finance the expansion of the company, which already operates eleven facilities across Italy and has another eight under development. Yuval Rooz, Co-Founder & CEO of Digital Asset, commented: "The issuance of the BoxDepo bond on the Canton Network marks a pivotal step in bringing real-world assets into an institutional blockchain ecosystem. Black Manta Capital Partners’ expertise, combined with Canton’s ability to deliver privacy, compliance, and interoperability at scale, demonstrates how tokenization is moving from promise to reality across global financial markets." Alexander Rapatz, CEO and Founding Partner of Black Manta Capital Partners, added: “Our collaboration with the Canton Network allows us to leverage their unique on-chain privacy features to create a product that is both compliant and highly efficient. The issuance of the BoxDepo real estate bond on the Canton Blockchain is a testament to our commitment to innovation and our vision of unlocking new levels of liquidity, confidence, security and efficiency for institutional investors.”

Please read the description of the changes below and take them into account when receiving index and iNAV results. Instructions for using Trading and End of Day Index Data Currently, End of Day Index Data for the past trading day (for the main trading session) are available to users at ~20:00 via the following channels: In the Information and Statistical Server (ISS) of the Moscow Exchange. On the Moscow Exchange website in End of Day Data section. On the Moscow Exchange website in Index Bulletins section. On the website of the Moscow Exchange in the archive of Index values. Starting from September 16, 2025, users of index information will be able to choose the session type of End of Day Index Data. So, the following changes will be made in the context of information receiving channels: Informational & Statistical Server (ISS). Trading results for each trading session and for the entire trading day will be published at unique addresses in the Informational & Statistical Server (ISS) of the Moscow Exchange in the periods after the end of the corresponding session: Morning trading session (sessions=0) – results are available at ~10:00 on the day of the corresponding session at: iss.moex.com/iss/history/engines/stock/markets/index/sessions/0/securities/IMOEX2 Main trading session (sessions=1) – results are available at ~20:00 on the day of the corresponding session at: iss.moex.com/iss/history/engines/stock/markets/index/sessions/1/securities/IMOEX2 The after-hours (evening) trading session (sessions=2) – results are available at ~23:59 on the day of the relevant session at: iss.moex.com/iss/history/engines/stock/markets/index/sessions/2/securities/IMOEX2 Trading day (sessions=3), including all additional trading sessions – results are available at ~23:59 after the end of the trading day at: iss.moex.com/iss/history/engines/stock/markets/index/sessions/3/securities/IMOEX2 Additional weekend session (sessions=5) – results are available at ~19:20 on the day of the corresponding session at: iss.moex.com/iss/history/engines/stock/markets/index/sessions/5/securities/IMOEX2 On the Moscow Exchange website, in End of Day Data, index data for the entire trading day will be available at ~23:59 after the end of the trading day. At the same time, a selection of trading results for each session will be available in the specified section of the site. On the Moscow Exchange website, in the Index Bulletins section, index totals will be available at ~20:00 for the main trading session of the corresponding trading day. In the archive of the corresponding index values on the Moscow Exchange website, data will be available at ~23:59 of the corresponding trading day, both in the context of trading days and in the context of each session (the results of an additional weekend session will be available to users on the next working trading day at ~23:59). Due to the changes, there will be 2 new mailing lists about the index results: Index values based on the results of the main session (Stock market and government securities) Index values based on the additional weekend session (Stock market and government securities) Table of changes in publication of Trading and End of Day Index Data: Resource AS IS TO BE ISS ~20:00 – Trading day: https://iss.moex.com/iss/history/engines/stock/markets/index/securities ~20:00 – Main trading session: https://iss.moex.com/iss/history/engines/stock/markets/index/sessions/1/securities ~23:59 – Trading day (all sessions): https://iss.moex.com/iss/history/engines/stock/markets/index/securities MOEX website End of Day Data ~20:00 – Trading Day ~20:00 – Main trading session Section of Stock market indices – Main session trading Data ~23:59 – Trading day (all sessions) Section of Stock market indices – End of Day Data Index Bulletins ~20:00 – Main trading session (no changes) Archive of index values ~20:00 – Trading day equal to the main session ~23:59 – Trading day (all sessions) and each session separately Read more on the Moscow Exchange: https://www.moex.com/n93492  

WHAT: The Commodity Futures Trading Commission and the Securities and Exchange Commission will hold a joint roundtable to discuss regulatory harmonization priorities. WHEN: Monday, September 29, 20251:00 p.m. - 5:00 p.m. (ET) WHERE: Securities and Exchange Commission100 F Street, NE Washington, DC 20002Additional Information: SEC and CFTC Joint Roundtable on Regulatory Harmonization Opportunities Related News CFTC and SEC Issue Joint Statement on Regulatory Harmonization Efforts

On August 11, 2025, CIRO identified a cybersecurity threat. We can confirm that registration information of CIRO member firms and registered individuals was breached. While we have no evidence that this information has been misused, we are contacting all impacted individuals and are offering free credit monitoring and identity theft protection services for a period of two years with both TransUnion and Equifax. We are deeply sorry this occurred. As we continue our investigation and learn more, we will continue to provide updates. August 18, 2025 - CIRO detects cybersecurity threat Note: CIRO will never contact you about this event with an unsolicited call or email asking for your personal or financial information.  August 18, 2025. Toronto, ON. On August 11, 2025, CIRO identified a cybersecurity threat. As a precaution, CIRO proactively shut down some of its systems to ensure their safety and immediately started an investigation. Throughout this time, critical functions remained available. CIRO’s real-time equity market surveillance operations continue as normal, with no active threat in our systems.  The investigation is ongoing and CIRO is working with external cybersecurity and legal experts, and law enforcement. On August 17, preliminary investigative results indicated that some personal information of member firms and their registered employees was affected. Given the high standard of security that CIRO expects of both itself and its members, we are deeply concerned about this, and know our members will be too. Our priority is to actively investigate which individual registrants may have been affected and once determined, to notify those individuals directly and provide risk mitigation services. More information will be made available in due course. It is important to note that Canadians’ investments are not at risk. CIRO only receives information about a sample of investors through its member compliance functions. If the investigation reveals that any investor’s information was affected, CIRO will notify them and provide risk mitigation services.

TMX Group today announced its financing activity on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for August 2025. TSX welcomed 44 new issuers in August 2025, compared with 12 in the previous month and 17 in August 2024. The new listings were 41 exchange traded products, two mining companies and one communications & media company. Total financings raised in August 2025 decreased 76% compared to the previous month, and were down 83% compared to August 2024. The total number of financings in August 2025 was 62, compared with 27 the previous month and 44 in August 2024. For additional data relating to the number of transactions billed for TSX, please click on the following link: https://www.tmx.com/resource/en/440. There was one new issuer on TSXV in August 2025, compared with one in the previous month and five in August 2024. The new listing was a mining company. Total financings raised in August 2025 increased 15% compared to the previous month, and were up 98% compared to August 2024. There were 124 financings in August 2025, compared with 139 in the previous month and 87 in August 2024. TMX Group consolidated trading statistics for August 2025 can be viewed at www.tmx.com. Related Document:TMX Group Equity Financing Statistics – August 2025

Federal bank regulatory agencies will hold a hybrid public outreach meeting on October 30, 2025, in Kansas City, Missouri, as part of their review of regulations. The Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) requires the agencies, with input from the public, to review their regulations at least once every 10 years to identify any outdated or otherwise unnecessary regulatory requirements applicable to certain supervised institutions. The outreach meeting is an opportunity for interested stakeholders to present their views on the regulatory categories listed in any of the four Federal Register notices: Applications and Reporting; Powers and Activities; International Operations; Consumer Protection; Directors, Officers and Employees; Money Laundering; Rules of Procedure; Safety and Soundness; Securities; Banking Operations; Capital; and the Community Reinvestment Act. Individuals interested in providing oral comments, either virtually or in person, must register by October 22, 2025, and indicate the regulatory category or categories they would like to discuss. The agencies will notify those individuals selected to provide comments. Advance registration is also required to attend this public meeting as an in-person observer. Additional details, including a link to attend the meeting virtually, will be available on the EGRPRA website under the outreach page. The agencies will announce additional public meetings in the coming months.

The Office of the Comptroller of the Currency (OCC) today announced the elevation and renaming of its chartering and licensing function and the appointment of Stephen Lybarger as Senior Deputy Comptroller for Chartering, Organization and Structure. “The business of banking is innovating at a rapid pace. Elevating the OCC’s chartering and licensing activities to be managed by a Senior Deputy Comptroller reflects the strategic value of these functions to our agency and the federal banking system,” said Comptroller of the Currency Jonathan V. Gould. “It further affirms the OCC’s support for the formation of de novo banks, signals its openness to considering business combinations that foster competition and better support consumers and communities, and recognizes our new remit to license payment stablecoin issuers. Stephen’s extensive knowledge and experience, combined with his steadfast commitment to adhering to statutory and regulatory requirements, will ensure the OCC’s evaluation and decisioning of licensing applications is appropriate and timely.” In this role, Mr. Lybarger will oversee the agency’s licensing function as a separate line of business, with staff in Washington, D.C. and regional offices. He will be responsible for managing the OCC’s licensing process for national banks, federal savings associations, payment stablecoin issuers, and proposals for growth and structure changes to support a safe and sound national banking system, and for coordinating with the Chief Counsel’s Office and Bank Supervision and Examination in connection with such proposals. Mr. Lybarger will serve on the OCC’s Executive Committee and report to the Comptroller of the Currency. Mr. Lybarger most recently served as Deputy Comptroller for Licensing, assuming that role in 2010. He joined the OCC in 1984 as a community bank examiner and earned his commission as a National Bank Examiner in 1988. He joined the licensing department in 1989. Mr. Lybarger earned a bachelor’s degree in business economics from Colorado State University.

The Office of the Comptroller of the Currency (OCC) today announced the selection of Will Giles as Principal Deputy Chief Counsel. In this role, Mr. Giles will be the OCC Law Department’s chief operating officer, responsible for the planning and management of all of the operations of the office to advance the Comptroller’s priorities. He also will assist the OCC Chief Counsel in providing legal analyses and advisory services on bank supervision, enforcement, administrative, litigation, and licensing actions. He also will advise on policy and operations initiatives within the OCC, on an interagency basis, and with the Administration. “Will’s experience in the public and private sectors brings a fresh perspective to the OCC of the statutory and regulatory authorities with which federally regulated banks must comply,” said Comptroller of the Currency Jonathan V. Gould. “The OCC now has the right legal leadership in place to ensure that our agency activities are firmly rooted in statute and underpin our work to ensure a safe and sound banking system that effectively serves the nation’s economy.” Before joining the OCC, Mr. Giles served as an Of Counsel in a major law firm where he advised a broad range of banking organizations and other financial companies regarding bank regulation. Complimenting his more than 10 years of experience working as an attorney in the private sector, Mr. Giles also served as special counsel at the Federal Reserve Board. In this role, he advised governors and senior staff regarding novel and complex applications and led interagency rulemakings, also serving as a lead expert on banking and administrative law matters. He further served as a member of a senior staff committee establishing supervisory ratings for the largest, most systemically significant banking organizations in the United States. “Will’s wealth of experience in banking regulation, legal acumen and dedication to the rule of law are an invaluable addition to the Law Department,” said Adam Cohen, OCC’s Senior Deputy Comptroller and Chief Counsel. “Like many, I have long considered him to be a trusted advisor and have no doubt he will help ensure that the OCC faithfully achieves the Comptroller’s priorities and existing statutory requirements.” Mr. Giles holds a law degree from the University of Virginia School of Law and a master’s degree in banking and financial law from Boston University School of Law. Mr. Giles also earned a bachelor’s degree in international economics from the University of Arkansas.

Nodal Exchange today announced growth in power and environmental futures in August 2025.  Nodal power futures volume for August was 234.2 TWh, up 23% from July 2025.  The majority of U.S. power futures open interest is on Nodal Exchange with 1.472 billion MWh and 57% market share as of the end of August 2025.  Environmental futures and options volume on Nodal Exchange in August totaled 39,792 lots. Open interest ended the month at 407,395 lots, up 4% from July 2025 and 7% from a year earlier, driven by increased open interest across the REC contracts.  Nodal, in collaboration with IncubEx offers the world’s largest exchange listed suite of environmental products. “Nodal Exchange is proud to serve these markets, and we are very pleased to see strong performance in both,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We look forward to working together with our trading and clearing community to continue to innovate and grow in the remainder of 2025.”

Toronto Stock Exchange (TSX) unveiled its annual TSX30™ today, a ranking of the 30 top-performing companies based on dividend-adjusted share price performance over a three-year period. The 2025 list showcases companies across diverse sectors achieving 431% average returns, while adding a combined $358.5 billion of market value and driving strong investor returns. Topping the 2025 TSX30 is Celestica Inc. (TSX:CLS), a technology company delivering industry-leading products and services to drive customer success and market advancement, with an exceptional 1599% dividend-adjusted share price increase over three years, propelled by surging global demand for AI infrastructure among other factors. Collectively, this year's TSX30 cohort represents over $461 billion in market capitalization, demonstrating the strength of the Canadian public markets in supporting businesses to achieve significant scale and shareholder value. These companies also contribute to Canada's economic transformation by establishing the country as a trusted global supplier of mineral resources, innovative technologies, and advanced industrial capabilities. "This year's TSX30 captures the evolution of our capital markets, where companies are scaling to compete globally for market share and capital," said Loui Anastasopoulos, CEO, Toronto Stock Exchange. "These top performers represent diverse sectors unified by strategic positioning and strong execution. Together, this list highlights how companies are capitalizing on prevailing economic trends, with investors prioritizing consistent value creation from companies with proven business models and strong cash flow generation, whether in transformative technologies or our world-class resource and industrial sectors." "Being recognized as the top company in the 2025 TSX30 underscores the impact of our team's innovation and execution, helping our customers grow and bringing new solutions to the market," said Rob Mionis, President and CEO, Celestica Inc. "Our growth is driven by our ability to meet the demand from customers expanding their networks to support new AI applications. This recognition demonstrates how Celestica can create and advance complex technology solutions on a global scale." Strong mining representation reflects precious metals surge amid heightened economic uncertainty The mining sector continues to show resilience, as well as its importance to Canada's economy. Of the 17 mining companies on the 2025 list, 15 are focused on gold, including Lundin Gold Inc. (TSX:LUG), who ranked second with its 775% dividend-adjusted share price appreciation. This highlights investor preference for precious metals as a safe-haven asset amid economic volatility. Beyond gold, companies are also pursuing critical minerals needed for clean energy and advanced technologies, positioning Canada as a dependable source globally for energy transition. AI, space technology, and software solutions powering Canadian innovation Six innovation companies made the 2025 ranking, from artificial intelligence infrastructure and digital assets to space technology and software solutions. The technology sector delivered the strongest average share price increase at 620% over a three-year period. While Celestica leads the field with its share price growth, Shopify Inc. (TSX:SHOP) regained its position as Canada's largest company with a $191 billion market capitalization as at June 30, 2025—representing 41% of the total 2025 TSX30 market value. These results highlight Canada's ability to nurture innovation domestically while competing globally in cutting-edge technologies. Industrial investments advance nation-building projects Canadian industrial firms play an important role in supporting the large-scale projects critical to the country's economic sovereignty and future prosperity. The five Industrial Products & Services companies on this year's TSX30 span aerospace innovation (Bombardier Inc. / TSX:BBD.B), complex infrastructure delivery (AtkinsRealis Group Inc. / TSX:ATRL, Bird Construction Inc. / TSX:BDT), and energy infrastructure solutions (Hammond Power Solutions Inc. / TSX:HPS.A, TerraVest Industries Inc. / TSX:TVK). These types of businesses also have the opportunity to provide Canadian engineering know-how to international markets and reinforce Canada's global competitiveness. Investor trends: Scale and cash flow emerge as competitive advantages The 2025 TSX30 reaffirms a continued shift from growth to value investing, with investors demonstrating a preference for companies with positive cash flow in uncertain markets. Twenty of the ranked companies had positive cash flow throughout the three years, with 40% of this group also paying dividends to shareholders. As global markets evolve and companies scale to compete for both domestic and international capital, Canada's strength lies in growing existing businesses into leaders on the world stage. Other highlights from the 2025 ranking include: Global reach, local roots: 27 companies are headquartered in Canada, and 73% of the firms are based in Ontario and British Columbia, underscoring these provinces' economic significance to the Canadian economy. Success of the two-tiered ecosystem: 47% of the list are TSX Venture Exchange (TSXV) graduates, including 11 of 17 mining companies. This showcases the effectiveness of Canada's globally unique capital market structure in nurturing emerging businesses from early-stage capital access to potentially substantial market capitalizations and broad investor exposure. Representation on leading indices: 18 of the companies are included on either the S&P/TSX Composite Index* or S&P/TSX 60 Index*, enhancing their visibility among investors globally. For detailed results and further information about the ranking methodology, visit tsx.com/tsx30. The 2025 TSX30 ranking RankingCompany NameTickerThree-Year Dividend-Adjusted Share Price Performance 1 Celestica Inc. CLS 1599% 2 Lundin Gold Inc. LUG 775% 3 Hammond Power Solutions Inc. HPS.A 738% 4 TerraVest Industries Inc. TVK 661% 5 Avino Silver & Gold Mines Ltd. ASM 610% 6 Propel Holdings Inc. PRL 560% 7 5N Plus Inc. VNP 548% 8 Galaxy Digital Holdings Ltd. GLXY 517% 9 Bombardier Inc. BBD.B 514% 10 Almonty Industries Inc. AII 427% 11 New Gold Inc. NGD 394% 12 Kinross Gold Corporation K 394% 13 IAMGOLD Corporation IMG 385% 14 Torex Gold Resources Inc. TXG 347% 15 MDA Space Ltd. MDA 340% 16 AtkinsRéalis Group Inc. ATRL 334% 17 Bird Construction Inc. BDT 330% 18 Vitalhub Corp. VHI 310% 19 Alamos Gold Inc. AGI 310% 20 Shopify Inc. SHOP 290% 21 Perpetua Resources Corp. PPTA 290% 22 Orla Mining Ltd. OLA 289% 23 Cameco Corporation CCO 277% 24 Fairfax Financial Holdings Limited FFH 276% 25 China Gold International Resources Corp. Ltd. CGG 274% 26 Dundee Precious Metals Inc. DPM 264% 27 Eldorado Gold Corporation ELD 238% 28 Galiano Gold Inc. GAU 226% 29 Skeena Resources Limited SKE 219% 30 Taseko Mines Limited TKO 205% Source: All data is sourced from TSX/TSXV Market Intelligence Group analysis. Based on historical dividend-adjusted share prices from S&P Capital IQ as at June 30, 2025. *The S&P/TSX Composite Index and the S&P/TSX 60 Index (the "Indices") are the products of S&P Dow Jones Indices LLC ("SPDJI") and TSX Inc. ("TSX"). S&P® is a registered trademark of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and TSX® is a registered trademark of TSX. These trademarks have been sublicensed for certain purposes by SPDJI and TSX. SPDJI, Dow Jones, S&P and TSX do not sponsor, endorse, sell or promote any products based on the Indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Indices or any data related thereto.

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today publishes its second risk monitoring report of 2025, setting out the key risk drivers currently facing EU financial markets. Geopolitical events continue to have a strong impact on the evolution of financial markets. In the first half of 2025 securities markets experienced pronounced volatility as global uncertainties intensified, notably with escalating trade conflicts. Investor risks have also risen in crypto-asset markets, where exuberance has been fuelled by political developments in the US and the emergence of new, high-risk business models. Overall, ESMA sees high or very high risks in the markets within its remit, and retail and institutional investors should remain alert to potential sharp market corrections, and to the liquidity strains they could entail. Verena Ross, ESMA’s Chair, said: “We have recently seen strong volatility in most global markets, including for equities, bonds and crypto-assets. Whilst the situation has stabilised since March/April, global uncertainties remain. Any unexpected geopolitical developments could risk driving sudden market corrections. Furthermore, the persistent growth and sophistication of cyber and hybrid threats amid heightened geopolitical tensions is amplifying the risks of operational disruptions to financial markets. In this environment retail investors are at risk of making poor trading decisions due to information overload or misinformation, a phenomenon particularly pronounced with social media and potential gamification of trading.” Beyond the general risk drivers, ESMA’s report provides an update on structural developments and the status of key sectors of financial markets, during the first half of 2025. Market monitoring Markets: EU equity market performance over the last months was characterised by high volatility, at levels not seen since the COVID-19 related market stress. Equity valuations saw sharp falls and fast recovery in April related to the US tariff announcements. Overall, EU market performance as of end-June stood at +11% since the beginning of the year, amid significant sectoral heterogeneity. In fixed income markets, escalating trade tensions led to a significant widening of corporate bond spreads in early April, particularly in the high-yield (HY) segment. Market metrics of credit quality worsened in April with the geopolitical developments, and Moody’s downgraded the US to Aa1 in May. Despite a 10% drop in valuation in 1H25, crypto markets remain near their historical peak volume at EUR 3tn. The US administration’s approach to crypto-assets has boosted investor sentiment. However, there are growing concerns that potential conflicts of interest may add to existing issues related to governance, credibility, and money laundering in these markets. Asset management: In 1H25, EU funds experienced their highest episode of volatility since the COVID-19 outbreak but exhibited positive performance amid muted flows. While funds have been overall resilient, leverage and liquidity risks persist in parts of the sector. In the real-estate fund sector, market prices seem to have bottomed out, but real-estate funds continued to experience sustained outflows in some jurisdictions. In this context, ESMA and the IMF performed a stress test showing the resilience of funds to a market shock but potential spillovers to the underlying bond markets.  Consumers: Confidence around future market conditions rebounded following a sharp dip in April, supported by the continued improvement of household finances. In 1H25, consumers maintained a strong demand for bond funds, alongside a marked increase in purchases of equities and ETFs. The demographic profile of consumers suggests that older investors have a higher share of fixed income investments in their portfolios. Overall, consumer complaint levels remained steady. Infrastructures and services: Cyber risks continued to rise globally amid ongoing geopolitical tensions. In addition, operational vulnerabilities were exposed through recent incidents, such as the blackout in the Iberian Peninsula and the T2S outage in 1Q25, even though they did not lead to systemic impacts. Equity-trading volumes increased significantly in 1H25 (+23% year-on-year), with March seeing record-high activity.  Structural developments Market-based finance: The financing of European corporates via equity markets slowed toward the end of 2024 and remained muted in 1H25. Despite expectations of a recovery in 2025, the EU initial public offering (IPO) activity has remained subdued. Corporate bond issuance remained stable at historically high levels, with significant amounts of debt due to mature over the next five years. Corporate debt sustainability remains a concern, as highlighted by the recent widening of spreads particularly in the HY segment. Sustainable finance: Despite shifting policy perceptions, record climate extremes are adding pressure to the global low-carbon transition. While EU ESG funds saw small net outflows in 1Q25, demand for ESG fixed-income strategies remains strong. Continued growth in the ESG bond market and robust green bond issuance reflect sustained investor appetite. Meanwhile, new ESMA guidelines on ESG fund naming are driving greater alignment between fund names and investments, contributing to market integrity and reduced greenwashing risks. Financial innovation: Tokenisation has had limited adoption so far, but tokenised funds have seen some uptake recently. The impacts and risks of tokenisation on markets still need to be fully understood. Asset managers’ bets on the AI theme have continued into 1H25 with the launch of new AI-sector investment funds. Though still limited in deployment, agentic AI poses supervisory challenges around accountability, explainability, misalignment, and systemic risks — intensified by social media and multi-agent interactions. Related Documents DateReferenceTitleDownloadSelect 09/09/2025 ESMA50-1949966494-3846 Trends, Risks and Vulnerabilities (TRV) Report, No. 2, 2025 09/09/2025 ESMA50-1949966494-3847 Trends, Risks and Vulnerabilities (TRV) Report, No. 2, 2025 - Statistical Annex 09/09/2025 ESMA71-545613100-2792 Heightened geopolitical uncertainties drive risks - Press Release

Bill Ackman, one of the world's leading capital market investors, opened trading at TASE this morning. The event was attended by Seffy Zinger, Chairman of the Israel Securities Authority (ISA), Prof' Eugene Kandel, Chairman of the TASE Board of Directors, Ittai Ben-Zeev, TASE CEO, as well as the CEOs and chairpersons of the companies included in the TA-125 Index. Together, they marked a unique opportunity to highlight the strength of the Israeli capital market and its growing potential to expend its global reach. Bill Ackman has served as the CEO of Pershing Square Capital Management, L.P. (“Pershing Square”) since its inception in 2003. He has served as Executive Chairman of the board of directors of Howard Hughes Holdings Inc. (“HHH”) since May 2025. Mr. Ackman also serves as Chairman and CEO of Pershing Square SPARC Holdings, Ltd. He is co-trustee of The Pershing Square Foundation, part of Pershing Square Philanthropies, which he founded in 2006 to bet on innovative leaders solving humanity’s big societal, environmental, and health challenges. Mr. Ackman is also a notable public figure recognized for his vocal advocacy against antisemitism and his strong support for the State of Israel, particularly since the outbreak of the "Swords of Iron" war on October 7, 2023. Bill Ackman, CEO of Pershing Square Capital Management, L.P. said during the ceremony: “After October 7th, I realized there was a much bigger problem in the world. That realization came from my own university, where 34 student organizations released a letter saying that "Israel is solely responsible for the acts of Hamas," even though Hamas was still operating on Israeli soil. One of the worst days of my life was October 7th.  Owning an exchange is like owning a royalty on the success of a country. And I said very publicly at the time that I thought there's no better time to invest in Israel. As bad as October 7th has been for Israel, for Jewish people, for the world, a lot of good has come out of it. I think if you look at the last less than two years, there's been a complete reset of the Middle East situation in a way that I think is extremely favorable for Israel. I think we're close to the end of this war, and I think we're on a path to prosperity and peace. I'm very optimistic about the future. I think the Abraham Accords are going to get expanded.” Seffy Zinger, Chairman of the Israel Securities Authority: "The performance of the Israeli capital market – and its leading indices over the past two years – serves as a reflection of the Israeli economy as a whole, showcasing exceptional resilience and strength. These results are thanks to the executives of Israel’s leading public companies present here today, as well as the investors, including foreign investors, who have demonstrated and continue to demonstrate confidence in the Israeli economy. A clear example of this confidence was Bill Ackman’s decision to purchase 4.99% of TASE shares at the beginning of 2024, right in the midst of the war. This was a significant vote of confidence in Israel and in the Israeli capital market. The Israeli capital market can and should be a leading player and an integral part of the global financial system, and we are taking concrete steps to make this happen. The transition to a Monday–Friday trading week is part of this strategic vision – a step that will bring the Israeli capital market closer to international investors and strengthen Israel’s position as an attractive investment destination on the global stage.” Ittai Ben-Zeev, TASE CEO: “We are proud to host Bill Ackman, one of Israel’s greatest friends, here at the Tel Aviv Stock Exchange, a symbol of Israel's economic resilience. The last two years have been very challenging for the Israeli economy and the local capital market in the wake of the war. Despite these challenges, TASE has reached record highs, reflecting the robustness of the Israeli economy. Much of this success is a testament to the resilience and strength of Israeli society and our public companies. On this occasion, we would like to thank Bill Ackman for his work on behalf of the State of Israel and for strengthening global support, as well as for the confidence he has shown in the Israeli capital market.  We are committed to driving the continued growth of the Israeli stock exchange and the Israeli economy, fostering a more open market for increased more international investment." In the photo from right to left: Prof. Eugene Kandel, TASE Chairman; Seffy Zinger, Chairman of the ISA; Bill Ackman, CEO of Pershing Square Capital Management, L.P. and Ittai Ben Zeev, TASE CEO.   Photographer: Elad Gutman. Free of charge  

Euronext today announced the results of the September 2025 review for the AEX®, AMX®, AScX® and AEX® ESG. The September review is an additional annual review, the results of which will be implemented after markets close on Friday 19 September 2025 and will be effective from Monday 22 September 2025.  The results of the September 2025 review mark the first implementation of the changes in the methodology and composition of the AEX Index Family, as announced on 11 March 2025, with five new constituents added to the AEX index. The change in methodology, including the increased number of constituents in the AEX, is designed to better reflect local market structure, and to enhance the relevance and investability of the AEX index family. In addition, the AScX® index has been rebranded to AMS Next 20® effective from this review, reflecting its updated positioning. The number of constituents has been decreased from 25 to 20 companies. The index will follow the same review schedule as the AEX® Family.  The full details on the composition and methodology for the AEX® Index Family can be found at:  Indices general documents - Euronext exchange Live quotes   Results of the quarterly review   AEX® Inclusion of: Exclusion of:  CVC CAPITAL PARTNERS - INPOST - JDE PEET’S - JUST EAT TAKEAWAY - WDP -   AMX® Inclusion of: Exclusion of:  AMG CVC CAPITAL FLOW TRADERS INPOST HAL TRUST JDE PEET’S HAVAS JUST EAT TAKEAWAY PHARMING GROUP WDP AMS Next 20® (formally AScX®) Inclusion of: Exclusion of:  - AMG - CM.COM - FLOW TRADERS - HAVAS - PHARMING GROUP   AEX® ESG Inclusion of: Exclusion of:  ABN AMRO SBM OFFSHORE   The Independent Supervisor retains the right to change the published selection, for instance in the case of a removal due to a takeover, until the publication of the final data after close of Wednesday 17 September 2025. All events taking place after that date will not result in the replacement of any company that may need to be removed from the final index selection.   Review AEX® Family The AEX® is reviewed quarterly (March, June, September, December). The full annual review is in March.  Next Index Steering Committee Review: Tuesday 9 December 2025.   CONTACTS   MEDIA – mediateam@euronext.com  Amsterdam, Brussels         Marianne Aalders                  +31 20 721 41 33     AEX® Composition (ISIN NL0000000107) Name ISIN Code ABN AMRO BANK N.V. NL0011540547 ADYEN NL0012969182 AEGON BMG0112X1056 AHOLD DEL NL0011794037 AKZO NOBEL NL0013267909 ARCELORMITTAL SA LU1598757687 ASM INTERNATIONAL NL0000334118 ASML HOLDING NL0010273215 ASR NEDERLAND NL0011872643 BE SEMICONDUCTOR NL0012866412 CVC CAPITAL JE00BRX98089 DSM FIRMENICH AG CH1216478797 EXOR NV NL0012059018 HEINEKEN NL0000009165 IMCD NL0010801007 ING GROEP N.V. NL0011821202 INPOST LU2290522684 JDE PEET'S NL0014332678 JUST EAT TAKEAWAY NL0012015705 KPN KON NL0000009082 NN GROUP NL0010773842 PHILIPS KON NL0000009538 PROSUS NL0013654783 RANDSTAD NV NL0000379121 RELX GB00B2B0DG97 SHELL PLC GB00BP6MXD84 UMG NL0015000IY2 UNILEVER GB00B10RZP78 WDP BE0974349814 WOLTERS KLUWER NL0000395903   AMX® Composition (ISIN NL0000249274) Name ISIN Code AALBERTS NV NL0000852564 AIR FRANCE -KLM FR001400J770 ALLFUNDS GROUP GB00BNTJ3546 AMG NL0000888691 APERAM LU0569974404 ARCADIS NL0006237562 BAM GROEP KON NL0000337319 BASIC-FIT NL0011872650 CORBION NL0010583399 CTP NL00150006R6 EUROCOMMERCIAL NL0015000K93 FAGRON BE0003874915 FLOW TRADERS BMG3602E1084 FUGRO NL00150003E1 GALAPAGOS BE0003818359 HAL TRUST BMG455841020 HAVAS NL0015002AH0 HEIJMANS KON NL0009269109 OCI NL0010558797 PHARMING GROUP NL0010391025 SBM OFFSHORE NL0000360618 SIGNIFY NV NL0011821392 TKH GROUP NL0000852523 V LANSCHOT KEMPEN NL0000302636 VOPAK NL0009432491   AMS Next 20® Composition (ISIN NL0000249142) Name ISIN Code ACCSYS GB00BQQFX454 ACOMO NL0000313286 ALFEN NL0012817175 AVANTIUM NL0015002IE0 B&S Group LU1789205884 BRUNEL INTERNAT NL0010776944 ENVIPCO NL0015000GX8 FASTNED NL0013654809 FERRARI GROUP GB00BN0VZ646 FORFARMERS NL0011832811 KENDRION NL0000852531 NEDAP NL0000371243 NSI N.V. NL0012365084 POSTNL NL0009739416 SIF HOLDING NL0011660485 SLIGRO FOOD GROUP NL0000817179 THEON INTERNAT CY0200751713 TOMTOM NL0013332471 VASTNED BE0003754687

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their fourth annual Report on the extent of voluntary disclosure of principal adverse impacts (PAIs) under the Sustainable Finance Disclosure Regulation (SFDR). The ESAs have observed a steady improvement in the quality of the PAI voluntary disclosures at both entity and product level. Similar to previous years, the ESAs surveyed National Competent Authorities and conducted staff-level analysis of publicly available PAI statements from the asset management, insurance and occupational pension sectors and of a sample of financial products’ PAI disclosures. The 2025 Report notes an effort from financial market participants to publish more complete information in compliance with SFDR disclosure requirements, with a general improvement in the quality of information provided. In line with previous years, the findings also confirm that financial market participants within larger multinational groups tend to provide more detailed disclosure, while smaller entities often combine general ESG or marketing information with their SFDR disclosures. Surveyed National Competent Authorities affirmed that some financial market participants have taken onboard the good practices included in the previous reports and have improved their disclosures. Additionally, the 2025 Report also includes recommendations for National Competent Authorities to support their supervision of PAI disclosures and for the European Commission to consider ahead of the forthcoming review of the SFDR. Background and Legal basis PAIs are the most significant negative impacts of investments on the environment and people. When a financial market participant considers principal adverse impacts, it means that it should seek to reduce the negative impact of the companies they invest in. Under Article 18 of the SFDR, the ESAs s must take stock of the extent of voluntary disclosures at entity and product level and publish a Report on an annual basis by 10 September.  Documents Report on principal adverse impact disclosures under SFDR (769.63 KB - PDF) Related content Topic Sustainable finance

The Commodity Futures Trading Commission announced today it issued an order filing and settled charges against Brett Falloon and Flatiron Futures Traders LLC for spoofing in the E-mini S&P 500 and E-mini Nasdaq 100 futures markets on the Chicago Mercantile Exchange. Falloon and Flatiron must pay, jointly and severally, a $200,000 civil monetary penalty. Falloon is also banned from trading commodity interests for 12 months. Both parties were ordered to cease and desist violating the spoofing prohibition in the Commodity Exchange Act. The order finds that from May through December 2022, Falloon engaged in spoofing while trading on Flatiron’s behalf by placing bids and offers with the intent to cancel them before execution.  Falloon’s trading followed a pattern: He placed genuine orders that he intended to execute on one side of the order book while entering the spoof orders he planned to cancel on the opposite side. Once his genuine orders were filled, he canceled the spoof orders. His genuine orders were often aggressive, meaning they crossed the bid-ask spread and were immediately filled. Falloon’s spoof orders usually constituted a large percentage of orders resting at the top price levels. The aggregate number of contracts in his spoof orders outnumbered the contracts in his legitimate orders 5-to-1.  The order also finds Falloon placed the spoof orders with the intent of misleading other market participants. His conduct induced other traders to either cross the bid-ask spread to fill his genuine orders, or place resting orders at the best offer, allowing Falloon to fill his genuine orders faster, in larger quantities or at more favorable prices. The CFTC thanks CME Group Inc. for its assistance in this matter. The Division of Enforcement staff responsible for this action are Michelle Bougas, Patrick Marquardt, Brian Hunt, Kathleen Banar, and Paul Hayeck, as well as former Division of Enforcement staff Erica Bodin and Deputy Director Rick Glaser.  RELATED LINKS Order: Falloon, et. al.

The Commodity Futures Trading Commission today announced it is withdrawing the proposed rulemaking, “Operational Resilience Framework for Futures Commission Merchants, Swap Dealers, and Major Swap Participants.” As stated in the notice of withdrawal, the CFTC is withdrawing the proposal to reconsider how the proposed rules work in practice with the operational resilience rules of other regulators, including both domestic and foreign. RELATED LINKS Federal Register: Notice of Withdrawal of Proposed Rules

New futures designed to efficiently deliver continuous long-term market exposure to bitcoin and ether Aims to provide access to perpetual-style futures in a U.S.-regulated, intermediated environment Marks next phase of Cboe's expanding product innovation roadmap Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced plans to launch Cboe Continuous futures on Cboe Futures Exchange, LLC (CFE) beginning November 10, 2025, pending regulatory review. The new product suite will debut with bitcoin and ether Continuous futures, offering U.S. traders a simpler and efficient way to gain long-term exposure to digital assets, execute trading strategies and manage risk – all within a U.S.-regulated, centrally cleared and intermediated framework. Unlike traditional futures contracts that may require periodic rolling, Cboe Continuous futures are planned to be structured as single, long-dated contracts with a 10-year expiration, reducing the need to roll positions over time and simplifying position management. These contracts will be cash-settled and aligned to real-time spot market prices (i.e., spot prices of bitcoin and ether, respectively) through daily cash adjustments, using a transparent and replicable funding rate methodology. At the HOOD Summit in Las Vegas, Catherine Clay, Global Head of Derivatives at Cboe, remarked: "Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our U.S.-regulated futures exchange and enabling U.S. traders to access these products with confidence in a trusted, transparent and intermediated environment. We expect Continuous futures to appeal to not only institutional market participants and existing CFE customers, but also to a growing segment of retail traders seeking access to crypto derivatives. As we continue to expand CFE's offerings to serve all types of market participants, these futures are a next step to advancing our product innovation roadmap." The launch builds on Cboe's ongoing commitment to further growing and diversifying its CFE product suite, which in addition to its flagship Cboe Volatility Index (VIX) futures include innovative products based on equity volatility, digital assets and global fixed income. The new bitcoin and ether Continuous futures will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization, positioning Cboe to further expand its clearing capabilities as it looks to build a robust global derivatives exchange and clearing ecosystem. The Options Institute will host educational courses on continuous futures on October 30 and November 20. Registration is open to the public. For more technical information on Cboe's new bitcoin and ether Continuous futures, visit here.