The Commodity Futures Trading Commission’s Division of Market Oversight today announced it has issued no-action relief to designated contract markets seeking to convert their existing perpetual style digital commodity futures contracts into true digital commodity perpetual futures.  This no-action letter issued today follows recent Commission actions which clarified the regulatory treatment of true perpetual futures contracts referencing bitcoin and other digital commodities with deep, active, and continuous spot market trading. [See CFTC Press Release Nos. 9240-26 and 9242-26]   According to the letter, DCMs may remove expiration dates from their existing digital commodity perpetual style futures contracts and implement these amendments to convert them into true digital commodity perpetual futures contracts effective upon the satisfaction of certain customer protection and procedural conditions in the letter. These include: soliciting feedback from market participants with open positions; providing advance notice and an opportunity to exit positions; offering appropriate risk disclosures; and ensuring that no other material contract terms are modified.  DCMs must also file the amendments under CFTC Regulations 40.5 or 40.6 and certify compliance with all conditions.  The no‑action positions in this letter expire on June 30, 2026. RELATED LINKS CFTC Staff Letter No. 26-19

The current reports for the week of June 09, 2026 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data. Additional information on Commitments of Traders (COT) | CFTC.gov Historical Viewable Historical Compressed COT Release Schedule CFTC Public Reporting Environment (PRE) PRE User Guide PRE Frequently Asked Questions (FAQs)

The Commodity Futures Trading Commission today filed a lawsuit in federal court against the state of New Mexico, seeking to block the state’s efforts to apply state gaming laws against CFTC-registered contract markets.  Just last week, New Mexico filed a lawsuit in a state court against CFTC-registrant KalshiEX LLC, alleging that its prediction market offerings amount to unlawful online sports betting while attempting to “evade state gaming laws.” The state’s complaint seeks injunctive relief to halt Kalshi’s operations within its borders and to prevent Kalshi from further offering sports-related event contracts. The CFTC’s complaint against New Mexico seeks a declaratory judgment that federal law grants it exclusive authority to regulate event contracts and requests a permanent injunction preventing the state from enforcing preempted state laws against its registrants. The CFTC has clear and longstanding exclusive jurisdiction to regulate event contracts and the prediction markets on which they trade under the Commodity Exchange Act, which preempts state laws purporting to regulate designated contract markets. “New Mexico is the latest state seeking to nullify black letter law and decades of judicial precedent by imposing state gaming laws on federally regulated derivatives exchanges subject to the CFTC’s exclusive jurisdiction,” said CFTC Chairman Michael S. Selig. “As I’ve said repeatedly, the CFTC has the expertise and responsibility to protect its exclusive jurisdiction over commodity derivatives, and that’s exactly what we’ll continue to do.”  Today’s lawsuit reaffirms the CFTC’s continued commitment to its ongoing campaign of preserving exclusive jurisdiction over CFTC-registered prediction markets. New Mexico joins a growing list of states purporting to regulate registrants within CFTC’s jurisdiction, following litigation in Arizona, Connecticut, Illinois, New York, Minnesota, Rhode Island, and Wisconsin.  RELATED LINKS Complaint for Injunctive and Declaratory Relief

smartTrade Technologies, a global leader in AI-driven solutions for multi-asset electronic trading and payments, is pleased to announce that it has been awarded Best Solution for Foreign Exchange Trading at the prestigious TradingTech Insight Awards USA. The TradingTech Insight Awards USA recognize excellence in the global FX markets, focusing on vendors that provide exceptional trading infrastructure, trading technology, and data solutions. The event celebrates achievements of leading banks and technology providers in the FX industry. smartTrade Technologies stood out in a highly competitive field, earning recognition for Best Solution for Foreign Exchange Trading. Commenting on the win, David Vincent, CEO of smartTrade Technologies, said, ‘We are proud to receive the Best Solution for Foreign Exchange Trading award. This recognition reflects our ongoing commitment to helping clients navigate increasingly complex and fast-moving markets — with technology they can truly rely on. We have invested heavily in what matters most: ultra-low-latency execution, robust liquidity management, flexible workflows, and scalable infrastructure. And we have made AI a core part of that — helping our clients make better-informed decisions and improve their operational efficiency every day. This achievement is a testament to our team. Their expertise, their dedication, and their hard work are what drive our success. I am incredibly proud of what they have built.’

A summary of Deutsche Börse Group's business indicators for May 2026 is now available on the eutsche Börse website: Trading Statistics There you can also find the Excel file 'Major business figures' containing historic business indicators for the respective reporting segments.

Nasdaq (Nasdaq: NDAQ) announced today the results of the semi-annual review of the OMX Copenhagen 25™ Index, (Nasdaq Copenhagen: OMXC25TM), which will become effective at market open on Monday, June 22, 2026. The following security will be added to the Index: Nordea Bank Abp (NDA DK). The OMX Copenhagen 25™ Index measures the performance of a selection of the largest and most traded securities listed on Nasdaq Copenhagen A/S. The Index is reviewed semi-annually in June and December. As a result of the semi-annual review, the following security will be removed from the Index: Bavarian Nordic A/S (BAVA). For a list of current Index Securities please refer to Nasdaq's Global Index Watch. For more information, please refer to the Nasdaq Copenhagen 25 Index Methodology.

The Securities and Exchange Commission has appointed John Moses as Director of the agency’s Office of Investor Education and Assistance, which provides services and resources to help investors build their financial futures and protect against investment fraud.  Mr. Moses joined the SEC staff in 2016 and has served in a variety of positions, including as Managing Executive in the Office of the Chairman before becoming a Deputy Director in the SEC’s Office of Investor Education and Assistance in 2020. He was Acting Director of the office prior to his appointment to the permanent role.  “John is an effective communicator who demonstrates a sincere passion for investor outreach and brings as much enthusiasm as he does wisdom to this position,” said SEC Chairman Paul S. Atkins. “Investor education is fundamental to our mission of protecting investors, and John possesses the exact skills and experience necessary to ensure our Office of Investor Education and Assistance – and our agency as a whole – are serving Americans as they participate in our dynamic capital markets.”  Mr. Moses said, “My colleagues in the Office of Investor Education and Assistance have consistently proven their dedication to serving the tens of thousands of investors who contact our agency each year with investment-related questions and concerns. We are constantly evolving to find additional avenues to reach even more investors and give them useful tools and information to make informed investment decisions. It is a genuine honor to help lead these initiatives.”   Before joining the SEC staff, Mr. Moses gained private sector experience in real estate and operations leadership. He is a veteran of the U.S. Navy and served as a surface warfare officer and security team leader during Operation Iraqi Freedom.  Mr. Moses earned undergraduate and graduate degrees from Stanford University and an MBA from Harvard Business School.

Euronext today announced the results of the quarterly review for the MIB ESG® index, which will be implemented after markets close on Friday, 19  June 2026 and will be effective from Monday, 22 June 2026. Results of the Quarterly Review MIB ESG® Inclusion of: Exclusion of:  TECHNOPROBE AMPLIFON Euronext 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 June 2026. All events happening after that date will not lead to a replacement of the selected company that possibly needs to be removed from the final selection. Review MIB ESG®  Family The MIB ESG® index is reviewed quarterly (March, June, September, December). Next review will be announced on 11 September  2026.

On 10 June 2026, transmission system operators (TSOs) submitted a proposal to ACER to revise the harmonised allocation rules (HAR) and the requirements for the single allocation platform (SAP). To inform its decision-making process, ACER will open a public consultation on 10 July 2026. What are these rules about? The harmonised allocation rules apply to all allocations of long-term transmission rights performed in the European Union. They provide specifications for the auctioning of long-term transmission rights (including their use, curtailment and eligibility criteria) and go through a review process every two years. All TSOs issuing long-term transmission rights are required to offer-long term cross-zonal capacity to market participants through the single allocation platform. Why amend them? With the implementation of long-term flow-based allocation, long-term transmission rights for all bidding zone borders within a capacity calculation region will be allocated with a single auction.  Currently, collaterals (i.e. financial security provided by market participants to guarantee their payment obligations) for long-term transmission rights are reserved until the auction is cleared, often leading to an overestimation of collaterals’ needs. As long-term flow-based allocation combines multiple bidding zone borders, this over-reservation further increases collateral requirements for market participants. This, in turn, may result in unnecessary bid rejections by market participants and potential welfare losses. To address this, TSOs propose to amend the harmonised allocation rules and the single allocation platform requirements by introducing a new collateral management solution. What are the next steps? The public consultation will run from 10 July until 7 August 2026.  ACER will analyse the feedback received and reach a decision by 10 December 2026. Read more

ETFGI, reported today that assets invested in the ETFs Industry in the United States reached US$15.7 Trillion milestone, driven by record US$837 billion in YTD net inflows. During May, the ETFs industry in the United States gathered net inflows of US$189.01 billion, bringing year-to-date net inflows to US$837.35 billion, according to ETFGI's May 2026 US ETFs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. ETFGI, is a 14 year old leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, and ETF TV on global ETF industry trends. (All dollar values in USD unless otherwise noted.) Highlights Assets invested in the ETFs industry in the US reached a new record of $15.69 trillion at the end of May, surpassing the previous high of $14.87 trillion in April 2026.  Assets have increased 16.8% year-to-date, rising from $13.43 trillion at the end of 2025.  The industry gathered $189.01 billion of net inflows in May. Year-to-date net inflows of $837.35 billion mark a new record, exceeding $443.32 billion in 2025 and $399.10 billion in 2021.  The ETF industry in the US has now recorded 49 consecutive months of net inflows.   “The S&P 500 rose 5.26% in May and is up 11.27% year‑to‑date in 2026. Developed markets excluding the U.S. gained 5.20% during May and are up 15.33% year‑to‑date, with Korea (+28.71%) and Luxembourg (+20.50%) delivering the strongest returns among developed markets for the month. Emerging markets increased by 3.77% in May and are up 11.44% year‑to‑date, led by Taiwan (+16.95%) and Peru (+11.75%), which recorded the highest gains among emerging markets in May.” According to Deborah Fuhr, Managing Partner and founder of ETFGI.   Growth in assets in the ETFs industry in the United States as of the end of May Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: “ETFs” are typically open-end index funds that provide daily portfolio transparency, are listed and traded on exchanges like stocks on a secondary basis as well as utilising a unique creation and redemption process for primary transactions. “ETPs” refers to other products that have similarities to ETFs in the way they trade and settle but they do not use a mutual fund structure. The use of other structures including grantor trusts, partnerships, notes and depositary receipts by ETPs can create different tax and regulatory implications for investors when compared to ETFs which are funds. The ETFs industry in the United States has 5,283 ETFs, assets of $15.69 Tn, from 488 providers on 3 exchanges at the end of May. The ETFs industry in the US continues to be highly concentrated competitive, with iShares and Vanguard effectively tied for leadership by assets, holding 28.9% and 28.6% market share respectively, while State Street SPDR remains third with 13.2%. Although iShares has the largest number of ETFs at 487, Vanguard has achieved nearly the same asset base with just 115 products, underscoring the strength of Vanguard’s scale and product concentration. State Street SPDR, with 179 products, maintains a significant position.  From a net flows perspective, Vanguard stands out as the strongest gatherer of net new assets, attracting $54.4 billion in May 2026 and $233.8 billion year-to-date, both ahead of iShares at $34.3 billion in May and $155.9 billion YTD. State Street SPDR remains a major player in trading activity, with $59.8 billion in average daily volume, net inflows have been more modest at $10.7 billion in May and $54.3 billion YTD.  Net Inflows   The industry gathered $189.01 billion of net inflows in May.    Year-to-date net inflows of $837.35 billion mark a new record, exceeding $443.32 billion in 2025 and $399.10 billion in 2021.    Equity ETFs attracted $78.62 billion over the month, bringing year-to-date net inflows to $378.22 billion, significantly higher than the $148.51 billion recorded at this point in 2025.    Fixed income ETFs recorded $41.50 billion of net inflows in May, with YTD inflows reaching $151.55 billion, well above the $93.67 billion gathered by the end of May 2025.    Commodity ETFs saw modest net inflows of $147.9 million in May, but remain in net outflow territory year-to-date at $2.99 billion, compared to $14.18 billion of net inflows at the same stage in 2025.    Active ETFs continued to attract strong demand, with $75.95 billion of net inflows in May, bringing YTD inflows to $329.09 billion, significantly exceeding the $177.01 billion recorded over the same period in 2025. Substantial inflows can be attributed to the top 20 ETF's by net new assets, which collectively gathered $107.92 Bn in May, the Vanguard S&P 500 ETF (VOO US) gathered $18.69 Bn alone.Top 20 ETFs by net new assets May 2026 Substantial inflows can be attributed to the top 10 ETP's by net new assets, which collectively gathered $1.72 Bn in May, the United States Oil Fund LP (USO US) gathered $309.00 Mn alone. Top 10 ETPs by net new assets May 2026 Investors have tended to invest in Equity ETFs during May.

Exegy, a leading provider of market data, trading technology, and managed services for the capital markets, is proud to announce today that Exegy Nexus™, a purpose-built FPGA-powered market data platform, has been named this year’s ‘Best Trading Technology Stack’ at the TradingTech Insight Awards USA 2026.  Exegy Nexus combines ultra-low-latency performance with unified access and infrastructure in a fully managed appliance. Developed with input from leading market makers, agency brokers, and global banks, Nexus addresses challenges firms face today, including rising market data volumes, limited rack space in data centers, higher power usage, and the operational load of managing fragmented systems. By centralizing feed handling and market data processing in FPGA hardware before it reaches downstream applications, Nexus reduces infrastructure sprawl, lowers compute requirements, and simplifies operations while delivering deterministic performance at scale. “Trading firms are under real pressure to handle more market data at higher speeds, while keeping infrastructure, power usage and operational complexity under control,” said Laurent de Barry, Chief Technology Officer at Exegy. “Nexus was built to help firms address that challenge. By moving the most demanding processing into FPGA hardware, we can deliver the low latency, determinism and scalability clients need, while helping them simplify their architecture.” Delivered as a fully managed solution, Nexus is supported by Exegy’s global team of experts, providing 24×7 monitoring and operational support. This enables firms to scale performance without adding operational burden, while reducing infrastructure sprawl across mission-critical market data environments. The TradingTech Insight Awards USA recognize leading trading solutions and services across the capital markets. Winners are selected with input from industry participants, reflecting the technologies and providers helping firms improve performance, efficiency and resilience across the trading lifecycle.

ETFGI, reported today that assets in the ETFs industry in Europe reached a new record of US$3.77 trillion at the end of May. During May the ETFs industry in Europe gathered net inflows of US$45.77 billion, bringing year-to-date net inflows to a record US$220.91 billion, according to ETFGI's May 2026 European ETFs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service.  ETFGI, is a 14 year old leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, and ETF TV on global ETF industry trends.(All dollar values in USD unless otherwise noted.) Highlights Assets invested in the European ETF industry reached a record $3.77 trillion at the end of May, surpassing the previous high of $3.58 trillion at the end of April 2026.  Assets have increased 17.0% year‑to‑date in 2026, rising from $3.22 trillion at the end of 2025 to $3.77 trillion.  The industry recorded net inflows of $45.77 billion in May 2026.  Year‑to‑date net inflows of $220.91 billion represent a new record, exceeding the previous highs of $149.79 billion in 2025 and $95.18 billion in 2021.  May marked the 44th consecutive month of net inflows into European ETFs. “The S&P 500 rose 5.26% in May and is up 11.27% year‑to‑date in 2026. Developed markets excluding the U.S. gained 5.20% during May and are up 15.33% year‑to‑date, with Korea (+28.71%) and Luxembourg (+20.50%) delivering the strongest returns among developed markets for the month. Emerging markets increased by 3.77% in May and are up 11.44% year‑to‑date, led by Taiwan (+16.95%) and Peru (+11.75%), which recorded the highest gains among emerging markets in May. According to Deborah Fuhr, Managing Partner and founder of ETFGI. Growth in assets in the ETFs industry in Europe as of the end of May   The ETFs industry in Europe has 3,860 products, with 15,931 listings, assets of $3.77 Tn, from 159 providers listed on 32 exchanges in 26 countries at the end of May. iShares is the largest provider in terms of assets with $1.49 Tn, reflecting 39.6% market share; Amundi ETF is second with $468.60 Bn and 12.4% market share, followed by Xtrackers with $382.69 Bn and 10.1% market share. The top three providers, out of 159, account for 62.1% of European ETF AUM, while the remaining 156 providers each have less than 8% market share.   Net inflows During May, ETFs gathered net inflows of $45.77 billion. Equity ETFs led the way with $25.18 billion of net inflows, bringing year‑to‑date inflows to $151.29 billion, well above the $108.71 billion recorded at this stage in 2025. Fixed income ETFs recorded $13.91 billion of net inflows in May, with year‑to‑date inflows reaching $45.80 billion, significantly higher than the $24.26 billion gathered by the end of May 2025. Commodities ETFs attracted $2.35 billion during the month, bringing year‑to‑date inflows to $4.09 billion, slightly below the $4.16 billion recorded over the same period in 2025. Active ETFs gathered $4.62 billion in May, with year‑to‑date inflows in Europe rising to $20.27 billion, nearly double the $10.89 billion recorded year‑to‑date in 2025. Substantial inflows can be attributed to the top 20 ETFs by net new assets, which collectively gathered $19.53 Bn in May. Vanguard FTSE All-World UCITS ETF (VWRD LN) gathered $2.93 Bn, the largest individual net inflow.Top 20 ETFs by net new assets May 2026: Europe The top 10 ETPs by net new assets collectively gathered $2.03 Bn during May. WisdomTree Agriculture (AIGA LN)  gathered $736.70 Mn, the largest individual net inflow. Top 10 ETPs by net new assets May 2026: Europe Investors have tended to invest in Equity ETFs during May.

Vermiculus, a global independent provider of market infrastructure solutions, and its trading product VeriTrade has been awarded Best Matching Engine for Exchanges and Electronic Trading Venues at the 2026 TradingTech Insight US Awards 2026.  The award recognizes VeriTrade’s innovation in delivering 24/7 trading, ultra-low, deterministic latency and extreme throughput (18us @50,000tps, 100us@850,000tps), combined with the flexibility and scalability required to support modern, continuously operating markets.  “It is great to see VeriTrade recognized with this award.” says Johan Norén, System Architect for VeriTrade at Vermiculus.  “With markets moving towards 24/7 trading, the ability to operate reliably around the clock is becoming critical. VeriTrade is designed with this in mind, combining deterministic performance with key capabilities such as intra-day updates of reference data, resilient architecture, and advanced memory management, ensuring stable and predictable operations in continuously running markets.” Built on a modular design, VeriTrade also supports emerging use cases such as prediction markets alongside crypto and traditional asset classes both for exchanges targeting institutional as well as retail customers. Its flexible architecture allows venues to adapt quickly to evolving market demands and regulatory requirements, without compromising performance.  Vermiculus index engine further extends VeriTrade with integrated index capabilities, enabling markets to build and grow their index business. It supports both Price Return and Total Return indices and enables additional calculation methodologies to be introduced as needed. VeriTrade can be deployed in the cloud, on‑premises, or in a hybrid setup. This gives operators flexibility while keeping full control of their infrastructure.   “We have no strategic, commercial, or technical alignment with any specific cloud, hosting, or infrastructure provider. This allows our clients to retain full flexibility and control over their technology choices.” comments Alexander Kilian, Principal Architect at Vermiculus. All Vermiculus solutions are built, delivered, and supported using Vermiculus project model with dedicated teams. This ensures deep expertise, continuity, and world-class support throughout the entire system lifecycle.     Johan Norén, System Architect for VeriTrade, and Alexander Kilian, Principal Architect.

The German Financial Supervisory Authority (Bafin) warns about offers on the website capital-holdings(.)life. According to information available to Bafin, the unknown operators of the websites are offering banking transactions and financial services without the required authorisation. Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from Bafin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by Bafin can be found in Bafin’s database of companies. The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).   Caution Bafin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) warn consumers to watch out for internet-based financial fraud. If you wish to invest money online, exercise the utmost caution and do the necessary research beforehand in order to identify attempted fraud at an early stage. In the “Recognising financial fraud” section of our website, you can view Bafin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraud on the financial market

Nasdaq (Nasdaq: NDAQ) announces that trading in Tången Industrikapital AB (ticker: TANGEN B) commences today on the Nasdaq Stockholm Main Market. Tången Industrikapital is a Mid Cap company within the Financials sector and the 19th company to be admitted to trading on Nasdaq’s Nordic and Baltic markets* in 2026.  Tången is an acquisition-driven industrial group that acquires and develops well-positioned small and mid-sized businesses in selected industrial niches. Tången’s long-term objective is to create sustainable value by combining disciplined capital allocation with operational development, whilst preserving the corporate culture and customer proximity of its portfolio companies.  “The IPO marks an important step in Tången’s development. Since the start, we have built our business with a long-term perspective and a clear focus on acquiring and developing leading niche companies. Through the listing, we gain an even stronger platform for continued growth, both organically and through acquisitions, while welcoming new shareholders to join us on our ongoing journey. We look forward to continuing to develop the company together with our subsidiaries, employees, and investors,” says Nina Bergman, CEO of Tången.  “We are very pleased with the strong interest shown in Tången by Swedish and international institutional investors, as well as by the general public in Sweden and Finland. The listing on Nasdaq Stockholm marks an important milestone in Tången’s development and provides us with a strong platform to continue building a long-term industrial group together with leading niche companies and their management teams. I would like to welcome all new shareholders to Tången and thank our employees, portfolio companies, and advisors for their important contributions throughout this process,” says Per Skånberg, Chairman of the Board at Tången.  “We are pleased to welcome Tången to Nasdaq Stockholm’s Main Market. The listing reflects the company’s clear strategy of building a long-term platform through acquisitions and active ownership of well-positioned niche businesses. The strong interest in the offering highlights confidence from both institutional investors and the general public, and we would like to congratulate Tången on a very successful transaction. Tången will be a valuable addition to the Nordic financials sector, and we look forward to supporting the company in its continued growth as a listed company,” says Adam Kostyál, Head of European Listings at Nasdaq and President of Nasdaq Stockholm. *Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm as well as Nasdaq Baltic 

Nasdaq (Nasdaq: NDAQ) announces that trading in KPY osk shares (ticker: KPYOSK) will commence today on the cooperative segment of Nasdaq First North Growth Market Finland. The cooperative belongs to Financials sector. KPY is the 20th company to list on Nasdaq’s Nordic markets* in 2026, and it represents the fourth listing on Nasdaq Helsinki this year. KPY represents the second cooperative whose cooperative shares are admitted to trading on Nasdaq Nordic markets. KPY, founded in 1883, is a Finnish values-based cooperative and a modern investment company. KPY invests across Finland, and its portfolio companies operate in multiple industries in Finland and internationally. KPY executes its strategy through three investment portfolios: infrastructure, private equity and balance sheet investments. Its objective is to grow the value of its holdings over the long term, and it actively develops its portfolio companies together with management and other owners. The focus of KPY’s investment activity has shifted towards fund-based investing. “I would like to personally thank all investors who participated in the offering. Together, we made history by successfully delivering the first IPO in Finland to include a cooperative share offering. We have also benefited from constructive dialogue with investors and valuable feedback, for which I would like to express my sincere appreciation. The listing marks a significant milestone in the 143-year history of KPY, but it is by no means the destination. We are an active owner, and our work to strengthen competitiveness and drive growth continues in line with our strategy. Our goal is to translate this into value creation in the future,” Anssi Lehikoinen, CEO of KPY comments. ”We are pleased to welcome KPY to Nasdaq First North Growth Market,” said Henrik Husman, President of Nasdaq Helsinki. “KPY adds a distinctive profile to our market as a long established Finnish cooperative and investment company. Its admission to trading as now the second cooperative in our market’s history shows that the public market can also support a broader range of ownership structures. We look forward to following KPY’s journey as a listed cooperative.” KPY has appointed Augment Partners AB as its Certified Adviser. *Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm as well as Nasdaq Baltic.

１． Purpose TFX was established in 1989 as an interest rate futures exchange with capital contributions from major Japanese banks, and since has maintained JPY short-term interest rate futures market for 37 years. TFX listed 3-month TONA futures in March 2023 and has been working to maintain and revitalize the STIR futures market as part of its mission. The Working Group studied domestic and international market conditions about interest rate futures, then discussed how to revitalize the TONA interest rate futures market to facilitate the overall yen interest rate market and promote the internationalization of the yen. ２． Date and Time 1st session 2026/4/14 16:00-17:30 2nd session 2026/5/19 16:00-17:30 ３． Participants Trading Members of TFX participated in the Working Group. The Financial Services Agency’s Planning and Markets Bureau attended as an observer.  Participants of Working Group on Revitalizing TONA Futures Market    -PDF(98KB)-   ４． Summary of Minutes ・ Participants confirmed that TONA interest rate futures constitute an important and indispensable component of the yen interest rate market. ・It was confirmed that the TONA Interest Rate Futures market is becoming increasingly important as a tool for managing interest rate risk, and that participating companies will work on a best-effort basis to revitalize the market. ・ It was agreed to consider the listing of 1-month TONA Interest Rate Futures and BOJ meeting TONA Interest Rate Futures. ※ The meeting minutes are not disclosed.

The Federal Court has ordered record penalties totalling $300.2 million against collapsed contracts for difference (CFD) issuer Union Standard International Group Pty Ltd (Union Standard) and its former authorised representatives for systemic unconscionable conduct and other contraventions of the law between 2018 and 2020. Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred) were the two former authorised representatives of Union Standard. Customers of EuropeFX and TradeFred lost more than $83 million. His Honour Justice Wigney yesterday ordered: $156.7 million in penalties against Union Standard, $114.1 million in penalties against EuropeFX, and $29.4 million in penalties against TradeFred. ASIC Chair Sarah Court said the penalties were the highest ever secured in connection with an ASIC matter and said the outcome would send a strong message of deterrence. ‘These record penalties reflect the egregious nature of CFD issuer misconduct in this case. ‘Union Standard, EuropeFX and TradeFred operated business models that deliberately targeted inexperienced and vulnerable people using aggressive sales tactics to pressure them to trade in highly risky CFD products.’ Union Standard was found liable for the conduct of EuropeFX and TradeFred, including their unconscionable conduct, as the Australian financial services (AFS) licensee that authorised them to operate (24-287MR). The Court’s decision underscores that AFS licensees remain and will be held fully accountable for misconduct carried out under their licence. In addition to pecuniary penalties, the Court also ordered: an adverse publicity order against EuropeFX, a permanent restraint on EuropeFX from carrying on a financial services business, or a business related to financial products or financial services, or otherwise providing financial product advice, and that EuropeFX refund customers’ net deposits. The case marks the first time a civil penalty has been imposed against an entity, Union Standard, for failing to ensure its financial services were provided ‘efficiently, honestly and fairly’ by actively marketing and issuing its CFDs to customers in China when it knew, or ought to have known, those customers were being exposed to potential liability for breaching local Chinese law. Ms Court continued, ‘CFDs are complex, leveraged, over-the-counter (OTC) products that allow investors to speculate on price movements, often exposing them to significant losses.’ Account managers at EuropeFX and TradeFred reassured customers that the CFDs offered suited their financial situation and risk appetite. In reality, most customers lost money, and in up to 95% to 99% of cases, EuropeFX and TradeFred actually profited from their customers’ losses. (24-287MR). In the 2024 financial year, 68% of retail CFD investors in Australia lost money, totalling more than $458 million, including $73 million in fees (26-004MR). ‘Over time, customers were pressured to trade more and more money, exposing them to financial losses they could not afford, before being discouraged from lodging or pursuing their complaints,’ Ms Court said. ‘Entities that profit from their clients’ losses will face serious consequences. AFS licensees cannot outsource responsibility for misconduct carried out under their licence and will be held accountable.’ In delivering his reasons, Justice Wigney said, ‘EuropeFX's contraventions were unquestionably egregious, deliberate and flagrant. By its conduct, EuropeFX systematically exploited many vulnerable and financially naïve and gullible customers for its own financial gain.’ His Honour continued, ‘I find it difficult in this case to envisage a more serious case of contravening conduct. In my view, all the relevant circumstances of this case point to it being a case which warrants the strongest deterrence within the maximum penalty.’ Justice Wigney also highlighted the scale and impact of the misconduct on investors and the market, saying ‘The contravening conduct occurred over a lengthy period of time and would no doubt have continued had ASIC not eventually intervened. ‘It resulted in a very large number of vulnerable individuals, many of whom had relatively modest means, to suffer serious financial losses and consequently stress and anxiety. It undermined the integrity of Australia's financial services markets.’ ‘High penalties are needed to secure effective deterrence. They will send a clear message to other providers of financial services that stern penalties will be imposed for contravening conduct of the sort engaged in by these contraveners.’ The orders have been temporarily stayed until 13 July 2026. Download Judgment Background In December 2024 (24-287MR), the Court found that EuropeFX and TradeFred employed a system of conduct and engaged in patterns of behaviour that were unconscionable as they: derived the bulk of their revenue from customers’ trading losses provided a remuneration incentive to account managers to encourage and pressure customers to deposit more funds into their trading accounts made misleading or deceptive representations, including about profits that could be generated failed to provide vulnerable customers with any adequate explanations about the complex financial products and the risks of trading in them pressured vulnerable investors to trade and deposit more funds into their trading accounts, including encouraging customers to fund their trading through superannuation accounts or credit cards provided personal advice to their customers when they were not licensed to do so. CFDs allow customers to speculate on the change in value of assets like shares, currencies and commodities, without owning them. Leverage can magnify investor losses, and even small price movements against a leveraged CFD position can result in significant losses, including loss of the entire investment. ASIC’s Moneysmart website has further information about CFDs and forex trading. Regulators in many jurisdictions have restricted or prohibited the sale of certain high-risk derivatives, including binary options, margin foreign exchange and some CFDs to retail investors. ASIC’s product intervention order on CFDs ASIC introduced a product intervention order (PIO) placing conditions on the issue and distribution of CFDs to retail investors in 2021, which has been effective in reducing the risk of significant harms to investors (22-082MR). The PIO will expire on 23 May 2027, unless it is remade. ASIC will consult with industry in 2026 on the proposed way forward. ASIC’s recent review into the Australian CFD sector In January 2026, ASIC secured the return of nearly $40 million to more than 38,000 retail investors and drove substantial compliance improvement across Australia’s CFD sector following a whole of industry review (26-004MR). The review drove widespread improvements in issuers’ target market determinations, customer onboarding questionnaires, reporting compliance and monitoring of customer trading outcomes. Related enforcement action In March 2026, the Federal Court ordered Oztures Trading Pty Ltd (trading as Binance Australia Derivatives) to pay a $10 million penalty after misclassifying more than 85% of its Australian customer base over a nine-month period, exposing 524 retail investors to high-risk crypto derivative products without the required consumer protections. This resulted in more than $12 million in losses and fees (26-055MR). Further information about this case ASIC obtained asset restraint orders in the Federal Court against EuropeFX and TradeFred in 2019 to protect customers’ funds while its investigation was underway. Union Standard gave an undertaking to the Court to keep specified monetary amounts in a separate bank account (19-373MR). On 8 July 2020, Union Standard entered into voluntary administration and liquidators were appointed on 3 September 2020. On 10 March 2020, TradeFred went into liquidation. In July 2020, ASIC suspended the AFS licence of Union Standard and in September 2020, ASIC cancelled its AFS licence (20-216MR). ASIC commenced civil proceedings against Union Standard, EuropeFX and TradeFred in December 2020 (20-319MR). Investors are still trying to recover millions of dollars lost following Union Standard's collapse.

Nasdaq (Nasdaq: NDAQ) today announced the results of the June 2026 quarterly rebalance of the Nasdaq-100 Index® (NDX®), which will become effective prior to market open on Monday, June 22, 2026. The following five companies will be added to the Index: Astera Labs, Inc. (Nasdaq: ALAB), CoreWeave, Inc. (Nasdaq: CRWV), Nebius Group N.V. (Nasdaq: NBIS), Rocket Lab Corporation (Nasdaq: RKLB), Teradyne, Inc. (Nasdaq: TER). The following five companies will be removed from the Index: Charter Communications, Inc. (Nasdaq: CHTR), Cognizant Technology Solutions Corporation (Nasdaq: CTSH), Insmed Incorporated (Nasdaq: INSM), Verisk Analytics, Inc. (Nasdaq: VRSK), Zscaler, Inc. (Nasdaq: ZS). For additional information, including notifications on changes to any Nasdaq Indexes, please go to https://indexes.nasdaq.com/

TMX Group Limited (TMX Group) today announced an agreement to acquire RAFI Indices, LLC (RAFI Indices) from Research Affiliates Global Holdings, LLC (Research Affiliates), a global index provider and investment advisor for US$490 million ($683 million1) in total consideration. The acquisition will significantly expand equity portfolio coverage of TMX VettaFi, a differentiated index provider with modern distribution solutions, and TMX Group subsidiary. Transaction Highlights: RAFI Indices' pro forma run rate revenue was approximately US$49 million ($68 million1) at March 31, 2026, and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) was approximately US$38 million ($53 million1).2 Implied total valuation of US$393 million ($547 million1) net of expected tax benefit with a net present value of approximately US$97 million ($135 million1), primarily representing amortizable acquired goodwill and intangibles. The transaction will more than triple TMX VettaFi Assets Under Indexing (AUI) from approximately US$81 billion to US$263 billion3. Expected to be accretive to adjusted earnings per share4 within the first 12 months of closing, excluding synergies. Revenue growth is expected to be in-line with TMX VettaFi's High Growth (high-single to double digit growth) over the long term. Will accelerate our key transformational measures, increasing recurring revenue, revenue outside Canada, and revenue from Global Insights. Transaction is expected to be financed with debt, and pro forma leverage ratio, including the previously announced and pending Cboe Australia and Cboe Canada transaction, is expected to be approximately 2.7x5 after closing, with plans to return to target leverage range one-year post close. "RAFI Indices brings a legacy of deep research and pioneering methodologies that align with TMX VettaFi's commitment to providing innovative and data-driven investment solutions," said Peter Conroy, CEO, Global Insights, TMX Group. "By combining RAFI Indices' world-class intellectual property with our modern "Index Factory" technology and distribution platform, we are expanding the toolkit available to our partners to include some of the most respected fundamental strategies in the industry." RAFI Indices is an index company founded by Research Affiliates. It specializes in constructing, publishing, and licensing indices that reflect a deep, academically rigorous understanding of the fundamental factors driving capital market returns. The company is renowned for its innovative approach, offering over 90 indices that cater to a diverse range of investment needs worldwide. "Today we begin an exciting new chapter in the RAFI story. Our simple idea of creating an index strategy that selects and weights using fundamental measures of size, rather than price or market value, advanced the state of the art for equity investing," said Rob Arnott, Founding Partner and Board Chair of Research Affiliates. "With TMX VettaFiʼs resources and our shared vision, they will be properly equipped to take RAFI, and our newer strategies in cap-weighted core and growth investing, to new levels of global success." Completion of this transaction is anticipated to close by the end of Q3 2026, subject to regulatory approval and customary closing conditions. TD Securities served as financial advisor and WilmerHale LLP acted as legal counsel to TMX Group. Ardea Partners LP served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Research Affiliates. National Bank of Canada and The Toronto-Dominion Bank are providing new committed credit facilities to TMX Group. For more information about TMX VettaFi, please visit www.vettafi.com. 1Based on USD/CAD exchange rate of 1.3930 at June 10, 2026. Actual amounts in Canadian dollars subject to change. 2Pro forma run rate revenue and pro forma run rate adjusted EBITDA are compilations of financial information provided by Research Affiliates management as of March 31, 2026. The financial information is unaudited and may not be prepared in accordance with IFRS for public companies. 3TMX VettaFi AUI as of March 31, 2026. RAFI Indices AUI is based on information provided by Research Affiliates management as of March 31, 2026. 4Adjusted EPS excludes the impact of acquisition, integration and related items, strategic re-alignment expenses, litigation, dispute and related items, (gain) / loss on fair value revaluation or sale of subsidiary / investment / other. 5Pro Forma Debt / Adjusted EBITDA based on pro forma Debt as of March 31, 2026, assuming Cboe Australia, Cboe Canada, and RAFI Indices are 100% funded by debt and close simultaneously; divided by pro forma adjusted EBITDA for TMX standalone March 2026 LTM plus 2025 adjusted EBITDA for Cboe Australia, Cboe Canada, and pro forma run rate adjusted EBITDA as at March 31, 2026 for RAFI Indices. Debt is defined as term loans, commercial paper plus debentures. Adjusted EBITDA is a non-GAAP measure, and Debt / Adjusted EBITDA is a non-GAAP ratio and does not have standardized meaning prescribed by GAAP, and therefore is unlikely to be comparable to similar measures presented by other companies. See discussion under "Non-GAAP Financial Measures" and "Forward-Looking Information". Teleconference / Audio Webcast TMX Group will host a teleconference / audio webcast to discuss the transaction. Time: 8:00 a.m. - 9:00 a.m. ET on Friday, June 12, 2026 Participants may access the conference call via the webcast link: https://www.gowebcasting.com/14722 The audio webcast of the conference call and investor presentation will also be available on TMX Group's website at www.tmx.com, under Investor Relations. Alternatively, participants may join the live call by dialing 1-833-752-4317 or 1-647-846-2266. An audio replay of the conference call will be available at 1-855-669-9658 or 1-412-317-0088, access code 6148097. Caution Regarding Forward-Looking Information This press release of TMX Group Limited ("TMX Group", "us", "we", "our") contains "forward-looking information" (as defined in applicable Canadian securities legislation) that is based on expectations, assumptions, estimates, projections and other factors that management believes to be relevant as of the date of this press release. Often, but not always, such forward-looking information can be identified by the use of forward-looking words such as "plans", "expects", "projects", "is expected", "projected", "budget", "scheduled", "targeted", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or the negatives of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved or not be taken, occur or be achieved. Forward-looking information, by its nature, requires TMX Group to make assumptions and is subject to significant risks and uncertainties which may give rise to the possibility that our expectations or conclusions will not prove to be accurate and that our assumptions may not be correct. Examples of forward-looking information in this press release include, but are not limited to, the anticipated benefits of the transactions to TMX Group, TMX VettaFi, and RAFI Indices; the expected impact on TMX Group's earnings and adjusted earnings per share; expectations regarding the revenue growth of RAFI Indices; TMX Group's leverage ratio after closing; the ability to integrate RAFI Indices into TMX Group and the potential synergies; the expected impact on TMX's long-term growth strategy and transformational objectives; the ability for TMX Group to accelerate RAFI Indices' growth; the source and amount of funds to fund the acquisition; the ability to deleverage and the timing thereof; the timing and receipt of regulatory approvals; our ability to maintain our long-term target dividend payout ratio and the timeline for the completion of the transaction, each of which is subject to a number of significant risks and uncertainties. These risks include, but are not limited to: competition from other exchanges or marketplaces, including alternative trading systems and new technologies, on a national and international basis; dependence on the economies of Canada, the United States; adverse effects on our results caused by global economic conditions (including geopolitical events, interest rate movements or threats of recession) or uncertainties including changes in business cycles that impact our sector; failure to retain and attract qualified personnel; geopolitical and other factors which could cause business interruption; dependence on information technology; vulnerability of our networks and third-party service providers to security risks, including cyber attacks; failure to properly identify or implement our strategies; regulatory constraints; constraints imposed by our level of indebtedness, risks of litigation or other proceedings; dependence on adequate numbers of customers; failure to develop, market or gain acceptance of new products; failure to close and effectively integrate acquisitions, including the RAFI Indices acquisition, to achieve planned economics or divest underperforming businesses; currency risk; adverse effect of new business activities; adverse effects from business divestitures; not being able to meet cash requirements because of our holding company structure and restrictions on paying inter-corporate dividends; dependence on third-party suppliers and service providers; dependence of trading operations on a small number of clients; risks associated with our clearing operations; challenges related to international expansion; restrictions on ownership of TMX Group common shares; inability to protect our intellectual property; adverse effect of a systemic market event on certain of our businesses; risks associated with the credit of customers; cost structures being largely fixed; the failure to realize cost reductions in the amount or the time frame anticipated; dependence on market activity that cannot be controlled; the regulatory constraints that apply to the business of TMX Group and its regulated subsidiaries, costs of on exchange clearing and depository services, trading volumes (which could be higher or lower than estimated) and the resulting impact on revenues; future levels of revenues being lower than expected or costs being higher than expected. Forward-looking information is based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions with respect to the impact of the cost of acquisition financing on adjusted earnings per share; assumptions in connection with the ability of TMX Group to successfully compete against global and regional marketplaces and other venues; business and economic conditions generally; exchange rates (including estimates of exchange rates from Canadian dollars to the U.S. dollar), commodities prices, the level of trading and activity on markets, and particularly the level of trading in TMX Group's key products; business development and marketing and sales activity; the continued availability of financing on appropriate terms for future projects; changes to interest rates and the timing thereof; productivity at TMX Group, as well as that of TMX Group's competitors; market competition; research and development activities; the successful introduction and client acceptance of new products and services; successful introduction of various technology assets and capabilities; the impact on TMX Group and its customers of various regulations; TMX Group's ongoing relations with its employees; and the extent of any labour, equipment or other disruptions at any of its operations of any significance other than any planned maintenance or similar shutdown. Forward-Looking Information (FLI) In addition to the assumptions outlined above, forward-looking information related to long-term revenue CAGR objectives, and long term adjusted earnings per share CAGR objectives are based on assumptions that include, but not limited to: TMX Group's success in achieving growth initiatives and business objectives; continued investment in growth businesses and in transformation initiatives including next generation technology and systems; no significant changes to our effective tax rate, and number of shares outstanding; organic and inorganic growth in recurring revenue; moderate levels of market volatility over the long term; level of listings, trading, and clearing consistent with historical activity; economic growth consistent with historical activity; no significant changes in regulations; continued disciplined expense management across our business; continued re-prioritization of investment towards enterprise solutions and new capabilities; free cash flow generation consistent with historical run rate; and a limited impact from inflation, rising interest rates and supply chain constraints on our plans to grow our business over the long term including on the ability of our listed issuers to raise capital. While we anticipate that subsequent events and developments may cause TMX Group's views to change, TMX Group has no intention to update this forward-looking information, except as required by applicable securities law. This forward-looking information should not be relied upon as representing TMX Group's views as of any date subsequent to the date of this press release. TMX Group has attempted to identify important factors that could cause actual actions, events or results to differ materially from those current expectations described in forward-looking information. However, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and that could cause actual actions, events or results to differ materially from current expectations. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. These factors are not intended to represent a complete list of the factors that could affect TMX Group. Important additional information identifying risks and uncertainties and other factors is contained in TMX Group's 2025 Annual Report under the headings entitled "Caution Regarding Forward-Looking Information" and "Enterprise Risk Management" which may be accessed at tmx.com in the Investor Relations section under Regulatory Filings. Non-GAAP Financial Measures This press release includes references to financial measures that are not defined by GAAP. Although such non-GAAP measures are calculated according to accepted industry practice, such measures disclosed in this press release may be different from non-GAAP measures used by other companies. This data is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. While TMX Group believes these measures provide investors with greater transparency and supplemental data relating to the transaction, readers are cautioned that these non-GAAP measures are not alternatives to measures determined in accordance with GAAP and should not, on their own, be construed as indicators of TMX Group's or RAFI Indices' future performance or profitability. Readers should not rely on any single financial measure when evaluating TMX Group's business or that of RAFI Indices. We use non-GAAP measures and non-GAAP ratios that do not have standardized meanings prescribed by GAAP and are, therefore, unlikely to be comparable to similar measures presented by other companies. Management uses these measures, and excludes certain items, because it believes doing so provides investors a more effective analysis of underlying operating and financial performance, including, in some cases, our ability to generate cash and our ability to repay debt. Management also uses these measures to more effectively measure performance over time, and excluding these items increases comparability across periods. The exclusion of certain items does not imply that they are non-recurring or not useful to investors. Adjusted earnings per share provided above is a non-GAAP ratio and does not have a standardized meaning prescribed by GAAP and is therefore, unlikely to be comparable to similar measures presented by other companies. TMX Group presents Adjusted EPS and excludes, among other things, acquisition, integration, and related items; amortization of intangibles related to acquisitions; strategic re-alignment expenses; dispute, litigation and related items; and other items as disclosed in TMX Group's 2025 Annual Report and Q1 2026 Report to Shareholders. For more information on Adjusted EPS, including definitions and explanations of how these measures provide useful information, refer to Non-GAAP Measures in TMX Group‘s 2025 Annual Report and Q1 2026 Report to Shareholders. TMX Group Adjusted EBITDA is a non-GAAP measure and Debt/Adjusted EBITDA is a non-GAAP ratio. TMX Group presents income before income taxes to indicate operating and financial performance. TMX Group presents adjusted EBITDA from income before income taxes after share of income from equity accounted investees, impairment charges, (gain) loss on fair value revaluation or sale of subsidiary / investment / other, net finance income/costs, depreciation and amortization, acquisition, integration and related items, and strategic re-alignment expenses. RAFI Indices' pro forma run rate adjusted EBITDA is calculated as net income excluding interest expense, income tax expense, depreciation and amortization, acquisition, integration, and related costs, one-time income (loss), and other significant items that are not reflective of the underlying business operations of RAFI Indices. RAFI Indices adjusted EBITDA is a compilation of financial information provided to us for RAFI Indices by Research Affiliates management as of March 31, 2026. The RAFI Indices financial information is unaudited and may not be prepared in accordance with IFRS for public companies. Cboe Canada and Cboe Australia's adjusted EBITDA is calculated as net income excluding interest expense, income tax expense, depreciation and amortization, acquisition, integration, and related costs, one-time income (loss), and other significant items that are not reflective of the underlying business operations of Cboe Canada and Cboe Australia. Cboe Canada and Cboe Australia Adjusted EBITDA is a compilation of financial information provided to us for Cboe Canada and Cboe Australia entities as of December 31, 2025. The Cboe Canada and Cboe Australia financial information is unaudited and prepared in accordance with IFRS (Cboe Canada) or Australian Accounting Standards (Cboe Australia) for public companies. Adjusted EBITDA for Cboe Canada and Cboe Australia excludes certain items such as discontinued operations, transfer pricing, unrealized gains / losses, and one-time employee costs.