According to the Prime Minister’s statement No. (13) of 2025 regarding the suspension of the work in ministries, official departments, and public institutions and wholly owned companies on Thursday, September 4, 2025, on the occasion of the Prophet’s Birthday. The Amman Stock Exchange (ASE) will suspend its work on Thursday, September 4, 2025, and will resume its business as usual on Sunday, September 7, 2025.

In line with The Egyptian Exchange’s ongoing commitment to enhance transparency and disclosure regarding all factors that may affect market performance and index movements, today’s trading session, Tuesday, August 26, 2025, witnessed the implementation the changes  resulted from the periodic review of the MSCI Emerging Markets Index. The review  had been announced on August 7, 2025, and took effect at the close of August 26th session. The auction session also recorded notable activity in both trading value and volume, with transactions amounting to approximately EGP 893 million, -representing around 14% of the total daily trading value of nearly EGP 6 billion. During the session, EGX benchmark index  EGX30, declined by 1.26%. Worth mentioning  that periodic reviews of global indices typically lead to portfolio restructuring, which is often reflected in significant change in trading volumes and heightened activity among both domestic and foreign investors.

Why a consultancy study? Achieving the EU’s decarbonisation targets will require better use of existing energy grids as well as new investments. Identifying infrastructure needs and assessing system adequacy must be based on robust and consistent scenarios that reflect both national and EU objectives. To support this, ACER commissioned a consultancy study aimed at identifying current challenges and areas for improvement in the development of energy scenarios for two key EU planning processes: the Ten-Year Network Development Plans (TYNDPs) by ENTSO-E and ENTSOG; and the European Resource Adequacy Assessment (ERAA) by ENTSO-E. The study offers recommendations to improve scenario-building practices by strengthening consistency, transparency and stakeholder engagement. What are the key findings?  National energy and climate plans (NECPs), which underpin the TYNDPs and ERAA scenarios, often lack sufficient detail and clarity. This limits the accuracy and consistency of the scenarios developed. The timing of the ERAA, TYNDPs and national energy and climate plans is not aligned, raising concerns about the reliability and consistency of the input data, particularly when updated NECPs are not yet available. National energy and climate plans integration into EU-wide scenarios remains partial. Despite recent improvements, there is still no formal validation process to ensure TYNDP and ERAA scenarios accurately reflect NECPs. Harmonisation across TYNDPs and ERAA scenarios is limited. Better alignment is needed to ensure consistency across the two exercises. Transparency and stakeholder engagement, particularly in the ERAA process, should be further enhanced. Get involved! Register for ACER’s webinar on 11 September 2025 to learn about the study’s main findings and engage with experts. Read more.

ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today that assets invested in the Global ETFs industry hit a new Milestone with a Record US$17.34 trillion at the end of July. During July, the ETFs industry globally gathered net inflows of US$191.55 billion, bringing year-to-date net inflows to YTD record of US$1.09 trillion, according to ETFGI's July 2025 Global ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted) Global ETF Industry Hits New Milestone with Record $17.34 Trillion in AUM The global ETF industry continues its remarkable growth trajectory, reaching a record $17.34 trillion in assets under management (AUM) at the end of July 2025—surpassing the previous high of $16.99 trillion set just a month earlier. Year-to-date (YTD) growth stands at 16.8%, with assets rising from $14.84 trillion at the end of 2024. July alone saw $191.55 billion in net inflows, underscoring sustained investor confidence. YTD net inflows of $1.09 trillion mark the highest on record, eclipsing previous highs of $944.18 billion in 2024 and $739.11 billion in 2021. Reflecting broad-based demand across asset classes and geographies. July 2025 marked the 74th consecutive month of net inflows, a testament to the structural resilience and appeal of ETFs. The Global ETFs industry had 14,640 products, with 28,937 listings, assets of $17.34 Tn, from 889 providers on 81 exchanges in 63 countries at the end of July. Equity ETFs and ETPs led the charge in July, gathering $89.43 billion, driven by strong performance and tactical allocations. This surge in flows and AUM highlights the ETF industry's central role in global portfolio construction, with increasing adoption across institutional, retail, and digital asset channels. The S&P 500 Index rose by 2.24% in July, bringing its year-to-date gain to 8.59%. In contrast, developed markets excluding the US declined by 0.71% during the month, though they remain up 19.44% for the year. Denmark and the Netherlands experienced the largest monthly drops among developed markets, falling by 13.90% and 5.78%, respectively. Emerging markets posted a 1.63% increase in July and are up 13.22% year-to-date, with Thailand and the United Arab Emirates leading the gains, rising by 14.13% and 8.41%, respectively, according to Deborah Fuhr, managing partner, founder, and owner of ETFGI. Growth in assets in the Global ETFs industry as of the end of July    ETF Flows in July Highlight Diverging Trends Across Asset Classes In July, global ETFs attracted $191.55 billion in net inflows, continuing the industry's strong momentum. Here's how different asset classes performed: Equity ETFs brought in $89.43 billion, pushing YTD inflows to $477.82 billion—slightly below the $522.43 billion seen by this point in 2024, suggesting a modest slowdown in equity allocations. Fixed income ETFs saw $35.74 billion in July inflows, with YTD inflows reaching $216.45 billion, outpacing last year’s $187.34 billion—a sign of growing demand for yield and portfolio diversification. Commodity ETFs reversed last year’s outflows, gathering $3.11 billion in July and $44.96 billion YTD, compared to $2.75 billion in net outflows over the same period in 2024. Active ETFs continued their breakout year, attracting $56.72 billion in July and $323.74 billion YTD, far exceeding the $189.29 billion gathered by this point last year—highlighting investor appetite for differentiated strategies. These figures underscore a shift in investor preferences, with fixed income, commodities, and active strategies gaining traction amid evolving market conditions. Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $73.99 Bn during July. Vanguard S&P 500 ETF (VOO US) gathered $12.53 Bn, the largest individual net inflow. Top 20 ETFs by net new assets July 2025: Global   Name   Ticker Assets($ Mn)Jul-25 NNA($ Mn) YTD-25 NNA($ Mn)Jul-25 Vanguard S&P 500 ETF   VOO US    710,555.82             71,872.40         12,529.35 SPDR S&P 500 ETF Trust   SPY US    657,731.85           (16,340.14)         10,397.10 iShares Bitcoin Trust   IBIT US     86,791.72             20,351.13           5,178.38 iShares Core S&P 500 ETF   IVV US    634,983.89             11,863.07           4,708.87 SPDR Portfolio S&P 500 ETF   SPLG US     79,185.98             19,814.33           4,646.35 iShares Ethereum Trust   ETHA US     11,370.74              6,217.62           4,219.38 Vanguard Total Stock Market ETF   VTI US    509,941.15             21,931.48           3,851.11 Financial Select Sector SPDR Fund   XLF US     52,852.77              1,131.59           2,797.10 Simplify Government Money Market ETF   SBIL US       2,643.93              2,640.73           2,640.73 iShares 0-3 Month Treasury Bond ETF   SGOV US     51,762.50             21,833.63           2,540.72 Vanguard Total International Stock Index Fund ETF   VXUS US     97,410.57              9,930.06           2,427.72 ChinaAMC CSI AAA Sci-Tech Innovation Corporate Bond ETF   551550 CH       2,124.92              2,134.14           2,134.14 iShares Core MSCI World UCITS ETF   IWDA LN    114,716.18              8,867.56           2,057.29 Harvest CSI AAA Sci-Tech Innovation Corporate Bond ETF   159600 CH       2,055.29              2,055.29           2,055.29 Fullgoal CSI AAA Sci-Tech Innovation Corporate Bond ETF   159200 CH       2,047.36              2,047.36           2,047.36 iShares Core MSCI Emerging Markets ETF   IEMG US     98,881.57              8,421.86           2,037.81 YieldMax Ultra Option Income Strategy ETF   ULTY US       2,589.40              2,439.50           1,971.87 Vanguard Total Bond Market ETF   BND US    132,607.33              9,401.88           1,956.02 Invesco Nasdaq 100 ETF   QQQM US     56,083.05             11,716.91           1,904.62 Penghua SSE AAA Sci-Tech Innovation Corporate Bond ETF   551030 CH       1,875.95              1,884.28           1,884.28   The top 10 ETPs by net new assets collectively gathered $3.73 Bn over July. Fidelity Ethereum Fund (FETH US) gathered $599.15 Mn, the largest individual net inflow. Top 10 ETPs by net new assets July 2025: Global Name   Ticker Asset($ Mn)Jul-25 NNA($ Mn) YTD-25 NNA($ Mn)Jul-25 Fidelity Ethereum Fund   FETH US       2,551.70                 683.77              599.15 Invesco Physical Gold ETC - Acc   SGLD LN     22,151.46                 850.25              594.23 Grayscale Ethereum Mini Trust ETF   ETH US       2,489.82                 596.25              458.97 AMUNDI PHYSICAL GOLD ETC (C) - Acc   GOLD FP       8,121.69              1,143.17              432.50 ProShares Ultra VIX Short-Term Futures   UVXY US          800.39                 502.95              381.18 iPath Series B S&P 500 VIX Short-Term Futures ETN   VXX US          572.02                 355.81              295.02 ProShares Ultra DJ-UBS Natural Gas   BOIL US          483.72                   81.07              274.54 iShares Physical Gold ETC   SGLN LN     23,381.96              2,155.40              240.13 Grayscale Bitcoin Mini Trust ETF   BTC US       5,382.53                 855.53              237.75 Japan Physical Gold ETF   1540 JP       5,487.81              1,241.11              214.75   Investors have tended to invest in Equity ETFs during July.

Artificial intelligence is reshaping industries by unlocking insights hidden within massive amounts of unstructured data. With powerful tools like vector databases and enterprise platforms, AI is driving breakthroughs across healthcare, finance, and entertainment. Pinecone founder Edo Liberty and HumanX founder Stefan Weitz have been at the forefront of this transformation. They join the Inside the ICE House podcast for breakfast on the balcony above the NYSE trading floor to share their journeys, explore the problems they’re solving, and discuss how AI is accelerating innovation and redefining the future.  

The Commodity Futures Trading Commission is enhancing its market surveillance and fraud detection capabilities by deploying Nasdaq’s industry-leading suite of surveillance technology. As the CFTC embraces an expanding regulatory remit, Nasdaq’s Market Surveillance platform will support the agency’s mission to promote market integrity. The upgraded technological capabilities follow CFTC Acting Chairman Caroline D. Pham’s pledge in March to secure an enhanced market surveillance system as part of a broader effort to modernize the agency and replaces the CFTC’s ‘90s-era legacy system. “As our markets continue to evolve and integrate new technology, it’s critical that the CFTC stays ahead of the curve,” Acting Chairman Pham said. “Nasdaq Market Surveillance will, for the first time, provide the CFTC with automated alerts and cross-market analytics that will benefit each of the CFTC’s operating divisions and better protect our markets from fraud, manipulation and abuse. This new suite of solutions will also improve efficiency in analyzing market trends and identifying unusual or disruptive trading activity so that our lean and talented staff can take appropriate action more quickly. It’s the latest example of our work in recent months to bring about the transformation and optimization necessary to make the CFTC a 21st century regulator. The CFTC is a leader in derivatives regulation, and Nasdaq’s Market Surveillance platform will be a key component to our success.” "Today's financial markets demand advanced surveillance technology that can adapt to rapid regulatory evolution and emerging asset classes," said Tal Cohen, President at Nasdaq. "As both an owner and operator of heavily regulated markets, as well as a technology provider to financial services companies worldwide, Nasdaq occupies a unique position at the intersection of innovation and regulation. We’re proud to partner with the CFTC and support their mission to promote the integrity, resilience, and vibrancy of U.S. derivatives markets.” Nasdaq Market Surveillance is the most widely used market surveillance technology globally, serving over 50 exchanges and 20 international regulators, helping to maintain the integrity of capital market ecosystems around the world.  The CFTC is responsible for overseeing a wide array of dynamic and growing derivatives markets ranging from fixed income, commodities and currencies, crypto assets, and event-based markets. The agency is also poised for growth in digital asset markets, launching a crypto sprint to implement recommendations from a recent White House report. The growth in both traditional and new markets and products, combined with innovations in market structure, such as the launch of continuous trading hours, require increasingly sophisticated tools to prevent and detect potential market abuse. Nasdaq’s platform enables integrated monitoring across CFTC markets and provides resilient and scalable surveillance capabilities to maintain the integrity of derivative markets. The Nasdaq platform enables regulators globally to identify potential manipulation patterns spanning multiple asset classes, conduct detailed transaction-level analysis, and generate automated alerts across products and trading venues. The platform's flexible architecture delivers a unified view of market activity with granular data insights and the ability to scale rapidly through periods of heightened volume and volatility. This includes access to comprehensive order book data to support real-time analysis and decision-making, which is a critical frontier to prevent and detect market abuse across both traditional and crypto asset markets. 

Nasdaq (Nasdaq: NDAQ) today announced that it will host its 2026 Investor Day on the morning of Wednesday, February 25, 2026, at Nasdaq’s Global Headquarters in Times Square, New York. The slide presentation and a live webcast will be available on the day of the event on Nasdaq’s Investor Relations website: http://ir.nasdaq.com. A more detailed agenda will be provided at a later date.

The FCA is providing clarity around workplace savings schemes so employers and savings providers can offer them with greater confidence. To help more employees benefit, the FCA has worked with partners to provide clarity on the rules around schemes. This includes setting out how employers can avoid breaching National Minimum Wage requirements and explaining how providers can meet financial promotions requirements. Savings are essential to help consumers manage their financial lives. But the latest Financial Lives Survey found that 1 in 10 people have no cash savings, and another fifth have less than £1000 put aside for a rainy day. Workplace savings schemes could help millions of consumers to start saving regularly and build financial resilience, but only 7% of UK employers offer them. Emad Aladhal, director of retail banking at the FCA said: 'Financial inclusion is a shared effort, which is why we’re teaming up with partners and playing our part to help businesses understand how to apply the rules for the benefit of consumers. 'This clarity should give employers greater confidence to offer savings schemes that can help people navigate their financial lives.' Emma Reynolds, economic secretary to the Treasury said: 'Payroll savings schemes are a great way for everyday workers to put a little aside for a rainy day – this statement helps businesses support their employees to make good financial decisions.  'I look forward to publishing the Financial Inclusion Strategy later this year where we will build on this important work.' Oliver Morley, chief executive at the Money and Pensions Service said: 'As shown by research we recently carried out with Nest Insight on opt-in and opt-out workplace savings, even a small amount set aside can provide financial resilience and peace of mind for employees. 'We will continue to support the FCA in engaging with government and industry to raise the profile of these schemes with employers.' Background Read our statement on workplace savings schemes. FCA Strategy 2025 to 2030 - Our strategy 2025 to 2030. The FCA has worked with HM Treasury, the Money and Pensions Service (MaPS), Information Commissioners Office (ICO), Department for Business and Trade (DBT) and the Prudential Regulation Authority (PRA), who have contributed to this statement. This statement focuses on opt-in workplace savings schemes, in adherence to existing legislation. We will continue to work with Government and other stakeholders to look at ways to further unlock opportunities for consumers to build greater resilience and navigate their financial lives.

KEY POINTS  SET, in partnership with three securities companies, organizes the annual flagship conference “Thailand Focus 2025: Beyond the Challenges” from August 27-29, 2025. The flagship investment conference explores the competitive strengths of the Thai economy and capital market in rising above challenges, showcasing new growth opportunities to domestic and international institutional investors. Thailand Focus 2025 is joined by 180 institutional investors representing 75 institutions worldwide. The Stock Exchange of Thailand (SET) hosts “Thailand Focus 2025: Beyond the Challenges” in collaboration with DBS Vickers Securities (Thailand) Co., Ltd., Kiatnakin Phatra Securities pcl in partnership with Bank of America (BofA) Securities, Inc., and UBS Securities (Thailand) Co., Ltd. The event takes place from August 27-29, 2025 at Grand Hyatt Erawan Bangkok, marking the 19th year of this flagship investment conference. SET President Asadej Kongsiri commented that Thailand Focus 2025 features the theme “Beyond the Challenges” to share useful insights and bolster investor confidence in the Thai economy, capital market, and listed companies which have risen above challenges amid an uncertain global environment. The event offers global institutional investors direct access to insightful data and perspectives from top-tier leaders of public, private, and capital market organizations, reflecting SET’s commitment to creating information bridges for investors both domestically and internationally. “Thailand Focus is a flagship investment forum showcasing the investment appeal and competitive advantages of Thai listed companies. Beyond that, it directly supports our broader mission to strengthen Thailand's capital market and build investor confidence through broad-based collaboration with partners in various sectors," Asadej noted. "The institutional investors joining us this year have shown particular interest in fundamental macroeconomic themes, such as Thailand's investment landscape and competitiveness roadmap, household debt management directions, financial sector stability, and how companies for are positioning themselves for future shifts and challenges. Both group and one-on-one meetings drew strong participation from institutional investors due to the broad diversification of Thai listed companies with outstanding potential, reflecting their confidence in Thailand's capital market outlook." Thailand Focus 2025 opened with Dr. Paopoom Rojanasakul, Deputy Minister of Finance, delivering the keynote address on government policies to enhance Thailand’s investment climate. Top leaders from public and private organizations also shared their perspectives on business directions, key strengths, and investment opportunities across Thailand’s leading growth sectors, covering new S-curve developments in Thailand’s healthcare industry with health technologies and advanced therapeutic medicine, Thai tourism’s pathway toward a sustainable and high-value future, and the evolving landscape of Thailand’s financial systems. Thailand Focus 2025: Beyond the Challenges has attracted impressive participation from 180 institutional investors representing 75 institutions worldwide. These include investors from established markets including Singapore, Malaysia, Hong Kong, and Europe as well as emerging markets in the Middle East and South Asia. The event also brings together top executives from a total of 75 Thai listed companies of varying scales across eight sectors to present their business prospects and strategic growth roadmaps at small group and one-on-one meetings. For more details about Thailand Focus 2025 and seminar sessions, please visit www.set.or.th/thailandfocus

Consumers are being warned of fraudsters impersonating the FCA, as the regulator revealed it had received almost 5,000 fake FCA scam reports in the first half of 2025. Scammers aim to steal money by getting people to hand over funds or sensitive information, such as bank account PINs and passwords. There have been 4,465 reports of fake FCA scams to the regulator’s consumer helpline already this year. 480 victims were duped into sending money to the fraudster. The majority, almost two-thirds, of reports came from people 56 years old or above. One of the most common scam methods reported is fraudsters claiming that the FCA has recovered funds from a crypto wallet that was opened illegally in the individual's name. Another common method is to target loan scam victims, who are often very vulnerable, and claim the FCA can help them recover the money they have lost. They are then persuaded to hand over further funds. A separate trend involves emailing consumers telling them their creditors have taken out a County Court Judgement against them and they need to pay the FCA the monies owed. 'Pig butchering' is a nasty trend where scammers 'fatten up' victims by building a connection, often a romantic one, and then carrying out a long-term investment scam. After the victim has lost money, scammers attempt to defraud victims a second time by pretending to be the FCA under the guise of helping to 'recover' the money. Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: 'Fraudsters are ruthless. They attempt to steal money from innocent victims by impersonating the FCA. We will never ask you to transfer money to us or for sensitive banking information such as account PINs and passwords. If in doubt, always check.' Tips to avoid fake FCA scams If someone contacts you unprompted, whether by phone, text, email or WhatsApp, be alert. Never hand over sensitive personal information, like bank account PINs and passwords. If you're unsure, get in touch with the FCA using the online contact form. Background Find more information about fake FCA scams and how to avoid them. Report scams to Action Fraud on 0300 123 2040 or via its websiteLink is external . If you live in Scotland, you should report to Police Scotland by calling 101, or contact Advice Direct Scotland on 0808 164 6000. Across the whole of 2024, there were 10,379 reports of fake FCA scams and 991 people handed over money.

At the end of the settlement date of August 15, 2025, short interest in 3,302 Nasdaq Global MarketSM securities totaled 13,965,671,937 shares compared with 13,683,072,188 shares in 3,285 Global Market issues reported for the prior settlement date of July 31, 2025. The mid-August short interest represents 2.34 days compared with 2.15 days for the prior reporting period. Short interest in 1,665 securities on The Nasdaq Capital MarketSM totaled 2,964,394,253 shares at the end of the settlement date of August 15, 2025, compared with 2,910,549,464 shares in 1,658 securities for the previous reporting period. This represents a 1.00 day average daily volume; the previous reporting period’s figure was 1.00. In summary, short interest in all 4,967 Nasdaq® securities totaled 16,930,066,190 shares at the August 15, 2025 settlement date, compared with 4,943 issues and 16,593,621,652 shares at the end of the previous reporting period. This is 1.86 days average daily volume, compared with an average of 1.56 days for the prior reporting period. The open short interest positions reported for each Nasdaq security reflect the total number of shares sold short by all broker/dealers regardless of their exchange affiliations. A short sale is generally understood to mean the sale of a security that the seller does not own or any sale that is consummated by the delivery of a security borrowed by or for the account of the seller. For more information on Nasdaq Short interest positions, including publication dates, visithttp://www.nasdaq.com/quotes/short-interest.aspxor http://www.nasdaqtrader.com/asp/short_interest.asp.      

NYSE today reported short interest as of the close of business on the settlement date of August 15, 2025. SETTLEMENT DATE EXCHANGE TOTAL CURRENTSHORT INTEREST TOTAL PREVIOUSSHORT INTEREST(Revised) NUMBER ofSECURITIES with aSHORT POSITION NUMBER of SECURITIESwith a POSITION >=5,000 SHARES 08/15/2025 NYSE 15,494,489,004 15,029,056,677 2,869 2,568 08/15/2025 NYSE ARCA 2,220,741,005 2,166,392,583 2,385 1,572 08/15/2025 NYSE AMERICAN 809,873,355 766,675,877 304 252 08/15/2025 NYSE GROUP 18,525,103,364 17,962,125,137 5,558 4,392 *NYSE Group includes NYSE, NYSE American and NYSE Arca           Reports will be archived here.

For the last three and a half years, it has been an honor and a privilege to serve as a CFTC Commissioner. The CFTC is a small-but-mighty agency that punches above its weight, performing integral regulatory and supervisory functions. Recall how the CFTC demonstrated global regulatory leadership in response to the global financial crisis in 2010 - working with the International Organization of Securities Commissions and the Committee on Payments and Market Infrastructures through a series of international regulatory convenings as well as unprecedented domestic rule-making efforts, we developed the world's blueprint for swaps market reforms.  In the face of a global pandemic and significant geopolitical conflicts, our markets demonstrated significant resilience. Our bi-partisan Commission, characterized by consensus-driven decision-making, illustrates the strength of independent, democratic institutions and the value of well-calibrated, carefully-tailored regulation. Our markets' successful navigation of new and unprecedented challenges offers proof that our reforms have worked well and served our nation's economy as well as the global economy.  A key factor in the Commission's successful oversight of derivatives markets has been the effectiveness and determination - I'd call it grit - of the dedicated public servants who comprise the Commission's staff. The talented and dedicated CFTC staff work tremendously hard each day to ensure the resilience, integrity, and stability of derivatives markets. Standing on the front lines, the hardworking members of the CFTC staff supervise markets that help to ensure the production and harvesting of food that feeds our nation, access to energy needed to fuel homes, schools, businesses, as well as religious, community, and government institutions, and effective risk management that enables the execution of trillions of dollars in transactions daily throughout global financial markets. The Commission and Commission staff serve as the tireless cop on the beat, effectively surveilling markets to identify and enforce against market manipulation and stamp out fraud - both Ocean's Eleven styled schemes as well as garden variety fraud perpetrated by fraudsters who seek to disrupt markets or distort market pricing or to target the most vulnerable investors through predatory campaigns aimed at retirees, rural, religious, or immigrant communities, or college students or recent graduates hoping to build a nest egg, among others. This year marks the 50th Anniversary of the CFTC, but our history building derivatives markets regulation dates back to a much earlier time in our nation's history. At the turn of the century, Congress recognized the need for federal regulation in derivatives markets. As markets evolve, it is critical that the Commission receive necessary investments in infrastructure and technology as well as increased investments in our most valuable assets - the Commission staff who help to realize and reinforce our mission - customer protection, market integrity, market resilience, and market stability. As we witness transformative changes in markets characterized by accelerated development and deployment of innovative technologies, it is critical to ensure that we commit resources to upskill Commission staff to ensure a robust workforce proficient in the technology that will define the future of financial markets and journey ahead for our nation's economy. To those who served with me at the Commission, I’m proud of what we’ve accomplished together. I carry with me an abiding respect, tremendous admiration, and deep appreciation for each one of you. Your commitment to our mission and to one another is nothing short of inspiring. Support one another. Stay focused on the work of ensuring the stability of our markets and the economy and continue to build the careful, transparent, informed, and consensus-driven regulatory framework that reflects the Commission's legacy for the past five decades. I owe a tremendous debt of gratitude to the members of the Market Risk Advisory Committee (MRAC), the MRAC Subcommittees, the MRAC Chair Alicia Crighton, co-chairs of each of the Subcommittees, as well as my staff and Commission staff who served as designated federal officers and alternate designated federal officers for the MRAC Committee and Subcommittees. The invaluable work of the multi-stakeholder coalition of industry (exchanges, clearinghouses, futures commission merchants, among others), public interest advocates, and academics would not have been possible without your commitment, dedication, and contributions. Earlier this year, I shared a statement indicating that I am forever grateful for President Biden's generous decision to nominate me to serve as a CFTC Commissioner and as an Assistant Secretary for Financial Institutions in the United States Department of the Treasury. I am also deeply thankful for the U.S. Senate's unanimous confirmation of my nomination to serve as a CFTC Commissioner and for the many Senators, Members, Senate Committee on Agriculture, Nutrition & Forestry and Senate Committee on Banking, Housing and Urban Affairs Members as well as Senate and Congressional staff members who have engaged with me and my office. As I previously shared in a statement earlier this year, my term of service ended in April of 2025. My last day at the Commission will be September 3, 2025. For nearly two decades, I have advocated for effective regulation of our markets. During my term of service, I proposed innovative initiatives for evaluating cyber threats, the integration of artificial intelligence in financial markets, domestic and international collaboration through regulators' roundtables and colleges, and critical market structure and customer protection reforms that will be exceptionally important, if not necessary, if the mandate for the Commission expands to include supervisory oversight of emerging digital asset markets. In a moment when such significant changes to markets and market structure are contemplated, I am concerned that the expert staff at the Commission receive the support and investments needed to be successful. In advancing an agenda in the name of growth, it is critical not to dismantle the foundational resilience that supports financial stability and protects the broader economy. Sustainable growth depends on, or better stated, is built upon a regulatory framework that ensures markets remain resilient in the face of volatility, uncertainty, and stress. The goals of growth and market integrity are not mutually exclusive. There is no true conflict between advancing the potential for growth and preserving market stability or integrity. It is possible to prioritize both goals. And, in every instance, consistent with our mission, regulation or any efforts to deregulate or streamline regulation should not leave customers or markets vulnerable to fraud. Having had the honor and privilege of serving our nation at one of the world's premier financial market regulators, I do not plan to shy away from the work that we started. In fact, I am inspired to dig in and do more. I hope to identify new ways to be of service to customers, markets, and our nation.  With deepest gratitude, thank you.

EquiLend today announced that EFG Hermes is going live on the firm’s Next Generation Trading (NGT) platform, becoming EquiLend’s first trading client based in the Kingdom of Saudi Arabia, and the first in the region to adopt full post-trade and trading automation via EquiLend. EFG Hermes, an EFG Holding company, is the leading investment bank in the Middle East and North Africa (MENA), offering an extensive array of financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. EFG Hermes previously onboarded EquiLend’s post-trade services and now expands that relationship to include trading via EquiLend NGT. The implementation enables streamlined, automated execution and lifecycle management, giving EFG Hermes greater access to global liquidity, improved visibility into activity, and more efficient operations across its securities finance business. “Our partnership with EFG Hermes reflects EquiLend’s commitment to delivering market-leading technology that meets the needs of firms across the Kingdom, the United Arabic Emirates, the GCC region, and around the world,” said Rich Grossi, CEO of EquiLend. “We are proud to support the growth of Saudi Arabia’s securities finance market and look forward to further collaboration with leading institutions across the region.” “This is a significant milestone for EquiLend, the local Saudi Arabian market and the securities finance industry,” said Dimitri Arlando, Head of EMEA Sales at EquiLend. “EFG Hermes will not only benefit from automation, which will highlight them as an attractive counterparty to trade with, but connecting to the EquiLend ecosystem will also help EFG Hermes access more demand for Saudi Equities from market participants across the globe.” This milestone underscores EquiLend’s commitment to the Kingdom of Saudi Arabia and the broader GCC region. EquiLend is actively engaged with leading institutions across the region, providing solutions that drive efficiency, automation and global connectivity in securities finance.

The International Swaps and Derivatives Association, Inc (ISDA), the Securities Industry and Financial Markets Association (SIFMA), and the Futures Industry Association (FIA) today submitted a joint comment letter to the Federal Reserve, FDIC, and OCC strongly supporting the proposed recalibration of the Enhanced Supplementary Leverage Ratio (eSLR) and related Total Loss-Absorbing Capacity (TLAC) and Long-Term Debt (LTD) requirements. “We fully support these policy goals – that is, helping to restore the eSLR to its proper role as a backstop to risk-based capital requirements and mitigating limitations on the ability of banking organizations to intermediate in U.S. Treasury markets, which is particularly pressing given the impending industry move to mandatory clearing for U.S. Treasuries,” ISDA, SIFMA and FIA wrote in the letter. The Associations emphasized the urgency of finalizing and implementing the rule no later than January 1, 2026. Key points from the letter include: Support for Proposal: The recalibration would reduce the likelihood that eSLR serves as a binding constraint, restoring its intended role as a backstop and enhancing participation in low-risk, high-volume activities such as U.S. Treasury intermediation. Market Functioning: Properly calibrated leverage rules are essential to ensure liquidity and resilience in U.S. Treasury markets, particularly as mandatory clearing expands. Broader Framework Review: The Agencies should conduct a comprehensive review of the U.S. regulatory capital framework to ensure it promotes growth, mitigates risks, and reflects risk-reducing practices such as cross-product netting. Further Enhancements: The Associations recommend recognition of cross-product netting under the standardized approach, consideration of reforms to Tier 1 leverage ratio requirements, , and elimination of redundant LTD requirements for U.S. GSIBs. The Associations concluded that their recommendations would make the U.S. regulatory capital framework more risk-sensitive, efficient, and better aligned with broader economic policy objectives, stating “we are strongly committed to maintaining the safety and efficiency of U.S. financial markets and hope the Agencies implement our recommendations, which reflect the extensive knowledge and experience of market professionals within the Associations and our members.  Our recommendations are designed to make the U.S. capital framework more risk sensitive to promote the functioning of the framework across market conditions and throughout the business cycle.” The full comment letter can be found here.

The attached option classes will begin trading on the MIAX Options Exchange, MIAX Pearl Options Exchange, MIAX Emerald Options Exchange, and MIAX Sapphire Options Exchange on Wednesday, August 27, 2025.Market Makers can use the Member Firm Portal (MFP) to manage their option class assignments.  All LMM and RMM Option Class Assignments must be entered prior to 6:00 PM ET on the business day immediately preceding the effective date.  All changes made after 6:00 PM ET on a given day will be effective two trading days later.MIAX Options and MIAX Emerald Options Primary Lead Market Maker (PLMM) assignments and un-assignments will not be supported via the MFP.  MIAX Options® Exchange MIAX Pearl® Options Exchange MIAX Emerald® Options Exchange MIAX Sapphire™ Options Exchange

Please refer to the Regulatory Circulars listed below for newly added symbols and the corresponding market for the underlying security used for openings on the MIAX Exchanges. The newly listed symbols will be available for trading beginning Wednesday, August 27, 2025. MIAX Options Regulatory Circular 2025-61 MIAX Pearl Options Regulatory Circular 2025-63 MIAX Emerald Options Regulatory Circular 2025-60 MIAX Sapphire Options Regulatory Circular 2025-63

Catherine L. Mann Member of the Monetary Policy Committee Catherine L. Mann discusses the importance of research for central bank credibility, and its role in communication with the public. Catherine outlines the role of research in the economic context of increasing tensions between inflation persistence and weak growth. Catherine concludes by highlighting how research influences her monetary policy decisions. Click here for full details.

The European Banking Authority (EBA) today released an updated set of 13 indicators and supporting data for the 32 largest institutions in the European Union, each with a leverage ratio exposure measure exceeding EUR 200 billion. This comprehensive publication features the latest figures and metrics essential for recognising institutions within the Banking Union and those operating under the Single Resolution Mechanism (SRM). By serving as a centralised data hub in the disclosure process, the EBA ensures annual updates and provides user-friendly tools, making it easier for stakeholders across the EU to access and analyse this vital information. This end-2024 data will assist competent authorities to identify a subset of banks as global systemically important institutions (G-SIIs), following the final decision by the Basel Committee on Banking Supervision (BCBS) and the Financial Stability Board (FSB). A stable sample of 27 institutions shows that the sum for those banks’ total exposures increased by 3.4% at the end of 2024, accelerating growth from the previous 1.3% up to the end of 2023. Showing the most noticeable development from the previous year, the trading volume indicator increased by 39.7%. The indicators concerning OTC derivatives, securities outstanding, assets under custody and level 3 assets increased by 13.3%, 9.6%, 8.8% and 6.4% respectively, all renewing their highest activity volume observed since 2013. The underwriting activity indicator registered a remarkable increase, by 25% at the end of 2024, overcoming the year of 2021 as the highest value for this indicator since 2013. With similar magnitude, the trading and available for sale securities indicator rose by 26.4% at the end of 2024. The only indicator observing a downward trend up to the end of 2024 was intra-financial system liabilities, declining by 0.9%.  Background legal basis and next steps The identification of a G-SII, which leads to higher capital buffer requirements, falls under the responsibility of national competent authorities. The identification is based on the disclosure of global denominators and G-SIB exercise results, which are expected to be published by the BCBS and the FSB in November each year. Any higher capital buffer requirements will then apply after about one year from the publication by competent authorities of bank-specific results and buffer rate allocation, thus allowing institutions enough time to adjust to the new buffer requirement. The EBA Guidelines on disclosure of G-SIIs, as amended by EBA/GL/2022/11, define uniform requirements for disclosing the values used during the identification and scoring process of G-SIIs, in line with the internationally agreed standards developed by the BCBS and the FSB. Having in mind the G-SIB assessment methodology review announced by the Basel Committee on the 31st of May 2022, the EBA supports the disclosure by EU authorities of the cross-jurisdictional indicators and underlying data items needed to calculate the parallel set of scores specific to European Banking Union banks. To promote a level playing field in the EU and to increase transparency in the internal financial market, the current level of disclosure goes beyond the minimum standards required by the BCBS, both in terms of granularity of the disclosed information and applicable scope of institutions. Consequently, some of the group-specific templates currently published belong to institutions that have not contributed directly to the BCBS's G-SIB exercise. The Regulatory Technical Standards (RTS) on the specification of the methodology for the identification and definition of subcategories of G-SIIs, and Guidelines on disclosure of G-SIIs have been developed in accordance with Directive 2013/36/EU (Capital Requirements Directive - CRD IV) on the basis of internationally agreed standards, such as the framework established by the BCBS and the FSB. Documents Bank Legal Entity Identifier (LEI) 2024 [xlsx] (11.25 KB - Excel Spreadsheet) 2024 G-SII data disclosure tool (9.01 MB - Excel Spreadsheet) 2024 G-SII data disclosure - summary and charts (1.2 MB - PDF) Related content Page Global Systemically Important Institutions (G-SIIs) Link 2024 G-SII data visualisation tool

The Agreement Support Reem Finance’s Strategic Transformation Journey  Aligned With ADX’s Mission To Broaden Market Access And Participation  Partnership Marks The First Step In A Broader Journey, Highlighting Reem Finance’s Transformation Into A Digital Community Bank And Boosting IPO Access And Market Liquidity    Reem Finance PJSC, now in its final phase of transforming into a digital community bank, has initiated a strategic journey to deepen investor participation and strengthen accessibility to UAE capital markets. Reem Finance and Abu Dhabi Securities Exchange (ADX), one of the region’s fastest-growing exchanges, signed two agreements to allow more investors with access to IPOs and trade securities on ADX. The aim is to make the process faster, simpler and more accessible for a growing base of investors. The agreements were signed at a ceremony attended by Mr. Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX; and, for Reem Finance, Mr. Hamdan Al Dahmani, Chairman, Mr. Faris Al Dhaheri, Board Member, and Mr. Seraj Faidi, Chief Executive Officer, along with senior leaders from both institutions. The first agreement enables instant creation of the National Investor Number (NIN) through Reem Finance’s upcoming digital platform. Customers can generate their NIN, required for trading on ADX, directly through the RF app. This represents a seamless onboarding process that highlights the role of Reem Finance in becoming a pioneering digital community bank. The second agreement establishes Reem Finance as a receiving entity for IPO subscriptions. Investors will be able to subscribe to IPOs on ADX directly from the RF app, with the added option of leverage to support their participation. By combining access with liquidity, this initiative is expected to broaden participation and drive stronger demand for new listings, while showcasing the kind of innovative services that will define Reem Finance’s digital community banking model. Commenting on the partnership, Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: “Our collaboration with Reem Finance, alongside other institutions seeking access to ADX’s wide-ranging services and products, reflects our commitment to making capital markets more open, efficient, and accessible. Through our innovative channels, we are easing the investor journey, attracting a broader and more diverse investor base, and providing new ways to engage with the market. These efforts reinforce ADX’s role in deepening market participation and expanding opportunities for all stakeholders.” Mr. Hamdan Al Dahmani, Chairman of Reem Finance, stated: “ADX and Reem Finance share a vision for deeper and more dynamic capital markets in the UAE. These agreements represent the beginning of a strategic journey anchored on digital community banking. Together, we will contribute to the long-term expansion of capital markets, reinforcing Abu Dhabi’s position as a global financial hub while shaping a future of simpler, more seamless investor experiences.” Seraj Faidi, Chief Executive Officer of Reem Finance, added: “These agreements mark a milestone for Reem Finance in its transformation into a digital community bank. By aligning with ADX and the national capital and equity markets agenda, we are opening the door to new opportunities for investors and ensuring our customers can access IPOs with both convenience and leverage support. This is the first step in a series of initiatives we are embarking on with ADX, and we look forward to expanding this journey further.” ADX delivered a resilient performance in H1 2025, demonstrating the market’s strength with foreign net investment up 99.5% year-on-year to AED 13.6 billion and total trading value climbing 33.5% to AED 179.5 billion. The new agreements with Reem Finance are part of a wider effort to keep building on this momentum by creating more channels for investor participation. Both institutions emphasized that these agreements represent only the beginning of a broader journey, with more initiatives to follow as Reem Finance completes its transition into a digital community bank. This underscores Abu Dhabi’s ambition to strengthen its role as a global financial hub and to provide investors with ever greater access to the region’s growing equity markets.