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Nigerian Exchange Weekly Market Report For The Week Ended 7 November 2025

A total turnover of 3.575 billion shares worth N107.011 billion in 146,429 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 7.479 billion shares valued at N145.429 billion that exchanged hands last week in 159,487 deals. Click here for full details.

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UK Government Policy Paper - Strategy For Future Retail Payments Infrastructure

The Payments Vision Delivery Committee has published its strategy to guide the development of future UK retail payments infrastructure in line with the government’s National Payments Vision. Documents Strategy for Future Retail Payments Infrastructure PDF, 264 KB, 19 pages This file may not be suitable for users of assistive technology. Request an accessible format. If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use. Details At Mansion House 2025, the Payments Vision Delivery Committee set out a new model of public and private sector collaboration for the design and delivery of the next generation of UK retail payments infrastructure.     As part of the new model, the Committee has now published its strategic outcomes to guide the development of the future UK retail payments infrastructure, building on the ambitions of the government’s National Payments Vision.

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NYSE Member Firms Report Third Quarter Results

New York Stock Exchange member firms that conduct business with the public reported a third-quarter 2025 after-tax profit of approximately $16 billion and revenues of approximately $135 billion, compared with approximately $11 billion after-tax profit on revenues of about $125 billion in the third-quarter of 2024. NYSE MEMBER FIRMS DEALING WITH PUBLIC ($ in Millions) Note: Data is from NYSE member firms that conduct business with the public. 3rd QTR 20253rd QTR 20242nd QTR 2025YTD 2025YTD 2024 Revenue $135,484 $125,419 $126,612 $385,964 $362,004 Expense $118,174 $113,064 $111,638 $338,288 $327,476 After Tax Profit Loss $15,872 $11,398 $13,937 $44,795 $31,897 After Tax Annualized Return on Capital 16% 12% 14% 15% 11% Assets $5,496,380 $4,941,741 $5,321,880 $5,496,380 $4,941,741 Capital and subordinated liabilities $405,013 $370,071 $391,292 $405,013 $370,071 Commission Revenues $6,498 $5,481 $6,274 $19,038 $15,945 Firms 146 132 130 148 132 Profitable Firms 126 112 109 132 113 Aggregate PreTax Earnings of Profitable Firms $17,464 $12,783 $15,286 $48,587 $36,802 Unprofitable Firms 20 20 21 16 19 Aggregate PreTax Loss of Unprofitable Firms ($154) ($427) ($312) ($611) ($1,214)   LinksNYSE Member Firms Dealing with Public (Financial Summary)Statement of Income (Loss) and Expense UnconsolidatedStatement of Financial Condition

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Securities Commission Malaysia Affiliate Launches Sustainable Batik Guide To Advance Sustainable Growth Of Batik Industry - MOU Signed To Drive Industry-Wide Adoption

The Securities Commission Malaysia’s (SC) affiliate, Capital Markets Malaysia (CMM) today released the Sustainable Batik Disclosure Guide (SBDG), marking another step in championing sustainable growth. This practical tool empowers batik artisans, entrepreneurs and producers to easily disclose their Environmental, Social and Governance (ESG) data and practices.   The release of the SBDG coincides with SC’s annual Batik Lestari Festival, a showcase of Malaysia's rich batik heritage that aims to build a more inclusive and sustainable marketplace, especially for MSMEs. SC Chairman Dato’ Mohammad Faiz Azmi said the initiative reinforces the SC’s long-term commitment to sustainable and inclusive growth.   “The SBDG is a practical tool that enables Malaysia’s batik sector to differentiate itself through sustainability, enhance market access, and preserve cultural heritage, while meeting the growing expectations of global and local buyers, investors and regulators,” he said. The SBDG comprises 34 priority ESG disclosures, aligned with key local and international sustainability standards1 ensure relevance, comparability and verifiability.   It is structured across Basic, Intermediate, and Advanced levels to support artisans and entrepreneurs at different stages of sustainability and maturity.   Building on CMM’s Simplified ESG Disclosure Guide for SMEs in Supply Chains (SEDG), introduced in 2023, the SBDG demonstrates the SC’s efforts to embed ESG practices among MSMEs across all sectors.    The SBDG recognises the sector’s unique characteristics - from traditional dyeing techniques and textile sourcing to community-based production - providing actionable steps for responsible practices.  The Batik Lestari Festival 2025, now in its second installment, was held alongside the ASEAN Capital Markets Forum (ACMF) International Conference, thus presenting Malaysia’s cultural and creative strength to regional representatives and international audiences. In a related development, the SC and Malaysian Handicraft Development Corporation (Kraftangan Malaysia) today signed a Memorandum of Understanding to help promote the local batik industry.   The MOU was exchanged between SC Managing Director Datin Paduka Azalina Adham and Kraftangan Malaysia Director-General Datuk ‘Ainu Sham Ramli. Under the MOU, both parties will undertake joint capacity building, sustainability, branding and promotional initiatives to empower batik producers to adopt ESG-aligned practices and strengthen market competitiveness.   For more information, visit https://www.sc.com.my/resources/publications-and research/sustainable-batik-disclosure-guide  1 IFRS S1/S2, GRI, FTSE Russell), Bursa’s Sustainability Reporting Framework and local standards (MS 692-1:2025, Standard Kraftangan Malaysia, DOE Guidelines                                                                                                                                                           

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ASIC Consults On Changes To The Unclaimed Monies Gazette To Strengthen Privacy

ASIC is seeking feedback on proposed changes to the Unclaimed Monies Gazette to improve the privacy and security of personal information.We are proposing to make a new legislative instrument to address the risks associated with the public availability of personal information in unclaimed money records published in the Gazette.Currently, the Gazette lists the names and full addresses of shareholders entitled to unpaid money after the compulsory acquisition of their shares.The draft instrument would modify the operation of subsection 668A(4) of the Corporations Act 2001 to omit the publication of street names and numbers in future editions of the Gazette. The next Gazette is scheduled for publication by 28 February 2026.ASIC welcomes feedback on the proposal. Please send submissions to rri.consultation@asic.gov.au by 5pm AEDT on 28 November 2025. Background ASIC maintains a database of unclaimed money records on ASIC’s Moneysmart website to help people find and reclaim lost money. ASIC also publishes a Gazette each year for unclaimed money records relating to compulsory acquisitions.Moneysmart displays only limited address information on public unclaimed money records. The draft instrument would align the Gazette with the information published on Moneysmart. More information CS 35 Proposed changes to the Unclaimed Money Gazette

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Financial Capability And Consumer Protection: Keynote Address By ASIC Commissioner Alan Kirkland At The Ecstra Financial Wellbeing Summit In Sydney On 6 November 2025

Key points Growing the financial literacy of Australians is central to ASIC’s role in promoting confident and informed participation in the financial system. Consumers are often vulnerable to exploitation in the financial system because for many of the decisions they make, they are equipped with less knowledge than the person or firm on the other side of the transaction. Through its Moneysmart program ASIC provides financial information and guidance to enable consumers to make decisions that support their financial future. Good morning. It’s a pleasure to be with you this morning. I would like to begin by acknowledging the traditional owners and custodians of the land on which we meet today, the Gadigal people of the Eora nation. I pay my respects to their elders past and present – and extend that respect to Aboriginal and Torres Strait Islander people here today. I also acknowledge the amazing First Nations counsellors and capability workers across the country. I think in the 20 years I’ve been around these types of conversations, one of the most important shifts I’ve seen has been the growth of a network and movement of First Nations workers working on these issues, and I’ll tell you that they are such an important source of intelligence for us. It has a huge impact on the priorities that we choose. Thank you to the Ecstra team for the invitation to speak today. It’s good to be here because enabling the financial wellbeing of Australians is really core to what ASIC does and has been for close to 25 years. There’s a good reason for that. The very first section the ASIC Act – the legislation that sets us up - makes it clear that that’s something that Parliament wanted us to do. It says that in going about our work, ASIC must strive to […] promote the confident and informed participation of investors and consumers in the financial system. So ‘confident’ and ‘informed’. And that requires not only that we work alongside organisations like those in the room today to build the financial knowledge and capability of all Australians, but it also requires that we make it easy for them to find the information and tools that they require to confidently navigate the financial system at key life stages when they are considering important financial decisions. And that’s what we try to do through ASIC’s Moneysmart work. So, today I want to speak briefly about: the role of Moneysmart and financial literacy in consumer protection, and the work we are doing to refresh and rebuild Moneysmart. The role of financial literacy in consumer protection I’ve mentioned that the ASIC Act sets out a clear expectation that we will build the knowledge and confidence of consumers in the financial system. I want to say that’s not the only reason we do that. It’s also because we see this as core to our work in consumer protection. Consumers in the financial system – and I don’t need to tell people in the room this but it’s important to say - that consumers in the financial system are often vulnerable to exploitation because in almost every decision they make, they are equipped with less knowledge than the person or firm on the other side of the transaction. We see this in our work every day. People on low incomes being hit with excessive fees on their transaction accounts, without knowing they could be in a low-fee account. Consumers who acquire a product via a consumer lease, without realising that they will end up paying four times the retail cost of the item. People who take steps to find a better super account but find themselves tricked into moving their super from a relatively safe fund into a high-risk option. Or people who are advised to set up a self-managed super fund when it is clearly not in their best interests –we have a big report out today that points to the scale of that problem. These situations have real economic consequences for the people involved – whether that’s not having enough money to pay essential bills or losing their entire retirement savings. Through our Moneysmart work, we hope to ensure that fewer people find themselves caught in these traps, by bridging at least part of the knowledge gap between consumers and the people who stand to gain from their misfortune. Now that’s an ambitious goal – particularly when we are dealing with industrial-scale misconduct, as is the case with some of the high-risk super-switching matters that are a huge priority for ASIC at the moment. But it is our hope that when somebody’s faced with a financial decision, they might recall a relevant Moneysmart social media post or they might, through research online, find their way to a Moneysmart resource that can put them in a better position to make decisions that reflect their best interests. In talking about the role of financial literacy in our consumer protection work, I want to make it clear that we don’t see it as the only – or even the best – way to protect consumers. Many other factors sit around the role of financial education – adequate income, access to affordable housing, health outcomes. And I want to add to that by saying that financial literacy and education need to be complemented by strong consumer protection laws that encourage firms to do the right thing by their customers. Both are important parts of the consumer protection system. And, with that in mind, we are now using Moneysmart in a broader range of ways to support our strong consumer protection. So a few examples of that: We have targeted campaigns and resources alongside key regulatory priorities. Last year, when we launched a major report on the financial hardship responses of a number of lenders in Australia, we launched a ‘Just ask’ campaign which was really about raising awareness of the fact that consumers could ask for financial hardship assistance if they had a credit product and were concerned about being able to make their repayments. We’ve also launched successive campaigns warning consumers about the risks of lead-generation practices that encourage them to switch their super into high-risk investments. And we are increasingly promoting our investor alert list, which is being updated constantly as a result of the roughly 130 websites we are having taken down each week as part of our work to disrupt investment scams. Rebuilding and refreshing Moneysmart And while we are using Moneysmart in different ways, we also recognise that Moneysmart itself needs to change, which is why we have committed to rebuild and refresh it. In doing so, I do want to tell you that we are starting from a strong base. With 11.7 million visitors in the last financial year, Moneysmart holds a firm position as a source of independent financial information. But we think it can do even more. To inform our thinking, over the past 12 months we have commissioned extensive consumer research – which many of you contributed to - to help us understand: how Australians feel about their current level of financial knowledge their levels of interest in knowing more, and their experiences and perceptions of Moneysmart. At a high level, this research has told us that: only 26% of Australians over the age of 18 consider themselves to be ‘very knowledgeable’ on money and financial matters[1] 75% would like to be more knowledgeable[2] only 4% of people in Australia can spontaneously recall Moneysmart when searching for organisations with financial information or advice[3]. So lots of people are getting there, but they don’t necessarily recall it if they’re not prompted. but, when they have used Moneysmart, 93% report a positive experience[4]. Alongside that general research, we have also commissioned targeted research on the knowledge and needs of people approaching retirement, which is part of new funding that we’ve got from the Australian government to do more work in that area. Informed by all of this research, we have developed a new Moneysmart strategy to drive its renewal over the next three years. If you have visited Moneysmart’s website or social channels recently, you probably started to see some of those changes, whether that’s the website or our social media channels, and you’ll start to see more over the coming months. A big part of this is the approach to social media that I hope some of you have started to see which is about publishing more relevant content, more frequently. That’s already driving growth and engagement in our social channels. I would say on the topic of retirement we have recently released a new version of our retirement planner, which is one of the most popular calculators on Moneysmart. And towards the end of next week, we’ll be launching a new ‘retirement hub’ with a range of content resources to help Australians planning for retirement, and you’ll see more coming over the next year. Conclusion So that’s just a brief ‘skate over’ of how we’re thinking about our work in this area and some of the improvements that we’re working on. Before finishing up, I want to say that we can’t do this alone at ASIC. We know that Moneysmart does its best work as part of a network of individuals and organisations who share the same goal: a financial system where consumers are treated fairly, and where they are equipped with the knowledge that they need to assert their rights. We may each pursue that goal in different ways, but we do so with the knowledge that financial literacy not only delivers better outcomes for individuals – it also brings substantial and measurable benefits to the broader community and economy. So, thank you Ecstra for bringing this group together today, and for inviting us to be part of the conversation. I hope that this event allows all of us to return to our organisations with new energy, new ideas and new hope.   [1] (2025) Moneysmart nationally representative research into Australians’ financial needs [2] (2025) Moneysmart nationally representative research into Australians’ financial needs [3] (2025) Moneysmart brand tracking report [4] (2025) Moneysmart brand tracking report

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ASIC: Reporting And Audit Update - Issue 2

The Reporting and audit update covers regulatory developments in reporting and audit, including sustainability and financial reporting matters. This Reporting and audit update contains the following articles: ASIC releases REP 819 ASIC's oversight of financial reporting and audit 2024-25 ASIC review into financial reporting and audit of super funds finds greater uplift is needed ASIC review finds gaps in auditor compliance with independence and conflicts of interest obligations ASIC finds poor compliance with financial reporting requirements by grandfathered companies Regulatory guide reissued on auditor reporting obligations to ASIC Regulatory guide reissued on communicating findings from audit files ASIC publishes FAQs about auditing and assurance requirements for sustainability reports Entities lodge sustainability reports online with ASIC Allow time for ASIC to consider your sustainability reporting relief applications ASIC releases REP 819 ASIC's oversight of financial reporting and audit 2024-25 On 31 October 2025, we published REP 819 ASIC's oversight of financial reporting and audit 2024-25 (REP 819). This report is the third in our series of audit-related reports and sets out the results from ASIC’s program of work on financial reporting and audit from 1 July 2024 to 30 June 2025, including: findings from our financial reporting and audit surveillance of companies enforcement and compliance actions against registered company auditors and outcomes relating to company financial reports observations on voluntary sustainability reporting to assist preparers of mandatory sustainability reports, and observations on auditor reporting to ASIC. We reviewed 254 listed and large proprietary company financial reports and conducted surveillances on the financial reports of 22 companies. Findings from our financial reporting surveillances resulted in 18 companies making or agreeing to make changes to their financial reports. The main deficiency that we continue to identify is a lack of disclosure about material business risks in the Operating and Financial Review. We also reviewed 10 company audit files at eight audit firms. The companies included eight ASX listed entities and two large proprietary companies. We issued nine comment forms to audit firms setting out our concerns, mostly related to revenue and receivables, impairment and asset values, and investments and financial instruments. These comment forms were also shared with the company directors, together with the firms’ responses (including the remediation action they intend to take in response to our concerns). ASIC also took enforcement action against registered company auditors for failing to comply with auditing standards. In 2025-26 our audit surveillance program will expand to 25 audit file reviews (from 15 in 2024-25) with some files selected on a random basis and some where we have concerns about auditors’ compliance with independence and conflicts of interest obligations. We will also monitor how auditors and audit firms address the findings from our audit file reviews. REP 819 highlights areas where the quality of financial reporting and audits can be improved. We call on report preparers and auditors to review our findings and adopt our recommendations when preparing and auditing financial reports. For more information, see REP 819 ASIC's oversight of financial reporting and audit 2024-25. ASIC review into financial reporting and audit of super funds finds greater uplift is needed On 30 September 2025, we published Report 816 Accounting for your super: ASIC's review into the financial reporting and audit of super funds (REP 816) summarising findings from our surveillance of registrable superannuation entity (RSE) financial reports and audits for FY 2024–25. The review found greater uplift is needed in the quality of super fund financial reports and audits. We reviewed 60 RSE financial reports, enquired with 17 superannuation trustees and conducted audit surveillances of five RSEs, focusing on the valuation and disclosure of investments, and disclosure of expenses. Following our audit surveillances, we issued comment forms to four of the five audit firms setting out our findings and the basis of our concerns. Our surveillances revealed inconsistent approaches to disclosing investments, limited disclosure of sponsorship and advertising expenses, and insufficient audit evidence obtained in the valuation of some investments. In 2025-26 we will continue to include RSEs in our surveillance program, reviewing the 30 June 2025 financial reports of all RSEs not covered in our first surveillance program and reviewing five RSE audit files. We will work closely with the AUASB, APRA and industry to enhance the quality of RSE financial reporting and audit practices. We will also monitor how auditors and audit firms are taking action to address our findings. For more information, see REP 816 Accounting for your super: ASIC’s review into the financial reporting and audit of super funds. ASIC review finds gaps in auditor compliance with independence and conflicts of interest obligations On 7 October 2025, we released Report 817 Building trust: Auditor compliance with independence and conflict of interest obligations (REP 817) which sets out the findings from ASIC’s targeted review of how 48 auditors complied with their independence requirements under the Corporations Act in relation to 53 clients. Our surveillance focused on auditors’ compliance with independence and conflict of interest obligations, including auditor rotation, as announced in ASIC releases FY 2023-24 financial reporting and audit report and launches auditor independence surveillance (24-240MR). The review found that many auditors were unable to effectively demonstrate how they complied with their prescriptive and general independence and conflicts of interest obligations.  Specifically, we found: likely breaches of prescriptive rotation requirements and prohibited relationships for almost one third of the auditors we issued notices to gaps in how auditors approached and documented compliance with their general independence requirements, taking a narrow, tick-box approach and not considering potential threats to independence. Some auditors focused on independence of mind and did not give equal consideration to independence in appearance, and auditors who did not appear to meet their independence requirements failed to proactively identify and report this to ASIC despite being prompted to do so. ASIC has taken action against auditors and audit firms as a result of this review. We will continue to investigate potential breaches of independence obligations and seek further compliance outcomes accordingly. Auditor independence will remain a key part of our surveillance program. In 2025-26, we will select audit files for review where we have independence concerns to consider whether there is an impact on audit quality. ASIC finds poor compliance with financial reporting requirements by grandfathered companies Our recent surveillance has identified high levels of non-compliance by previously grandfathered companies with the requirement to lodge their financial reports. This prompted ASIC to increase its intensity of reviews and launch a broader crackdown, as announced in ASIC increases its focus on lodgement of financial reports after finding poor compliance by grandfathered companies (25-169MR). Based on our records, more than half (755 of 1,166) of the formerly grandfathered companies did not lodge financial reports in FY23 or FY24. We made inquiries with 58 grandfathered companies, which did not lodge FY23 and FY24 financial reports and appeared to be large based on other data sources.  We found that of these 58 grandfathered companies, 32 were large and failed to lodge their reports. 30 of the 32 companies have since lodged their financial reports following our interventions. As a result of widespread non-compliance, ASIC has launched a broader surveillance focused on non-lodgement of financial reports by large proprietary companies, which we expect to complete in Q1 2026. Regulatory guidance reissued on auditor reporting obligations ASIC has reissued Regulatory Guide 34 Auditor obligations: Reporting to ASIC (RG 34) to consolidate and simplify existing guidance on auditor breach notification and contravention reporting obligations to ASIC as well as reflect changes to the law. The reissued RG 34 replaces guidance issued in March 2020. The updates include guidance on auditor obligations to report: in line with recent changes to the law, suspected contraventions in connection with sustainability reporting, and when conducting audits of registrable superannuation entities, corporate collective investment vehicles (CCIVs) and compliance plans of retail CCIVs attempts to unduly influence, interfere and mislead the auditor conflicts of interest and circumstances involving relevant relationships as part of an auditor’s independence obligations, and the auditor’s own suspected contraventions. For further information, download Regulatory Guide 34 Auditor obligations: Reporting to ASIC (RG 34). Regulatory guide reissued on communicating findings from audit files ASIC has reissued RG 260 Communicating findings from audit files to directors, audit committees or senior managers (RG 260) to update ASIC’s guidance on how we will communicate financial reporting and audit quality findings from ASIC’s reviews of audit files.  The changes include updates to reflect:  ASIC’s new responsibilities and powers following law reform to regulate the financial reporting and audit requirements of registrable superannuation entities (RSEs), and that the ASIC Act allows ASIC to communicate findings from our reviews of audit files to the relevant directors of the superannuation trustees. RG 260 provides guidance for directors, audit committees and senior managers of companies, responsible entities, superannuation trustees or disclosing entities, and for audit firms on ASIC’s approach to communicating financial reporting and audit quality findings from our reviews of audit files.  The purpose of our communication is so the audit firms and audited entities can work together and take steps to improve financial reporting and audit quality. For further information, download Regulatory Guide 260 Communicating findings from audit files to directors, audit committees or senior managers (RG 260). ASIC publishes FAQs about auditing and assurance requirements for sustainability reports We have published responses to some frequently asked questions about the review and auditing requirements for sustainability reports under the Corporations Act 2001 to help auditors and preparers of sustainability reports to understand their obligations under the Corporations Act. The FAQs may be helpful for: auditors in understanding their obligations under the Corporations Act, such as in relation to forming an opinion on the sustainability report, what the auditor’s report on the sustainability report must contain, and the extent to which the modified liability settings apply to statements in the auditor’s report on the sustainability report, and preparers of sustainability reports in understanding their obligations in relation to obtaining a review or audit of the sustainability report, the appointment, removal or resignation of auditors, and who can conduct a review or audit of the sustainability report. The AUASB have also published frequently asked questions that are focused on some of the practical considerations relating to the review and audit of sustainability reports. Entities lodge their sustainability reports online with ASIC From January 2026, entities will be able to lodge their sustainability reports online through the company officeholder, registered agent and auditor portals. The sustainability report (and auditor’s report on the sustainability report) should be lodged at the same time and relate to the same reporting period as the annual financial report. ASIC is developing a new form that entities must use to lodge their sustainability report and the auditor’s report on the sustainability report. This form is separate to Form 388 Copy of financial statements and reports, which is used to lodge the annual financial report, directors’ report and auditor’s report on the financial report. Entities should complete and lodge this form separately to Form 388, even if the sustainability report is included within the annual report that is lodged using Form 388. Listed entities do not have to lodge with ASIC if they have already lodged their sustainability reports with ASX, NSX or SSX and the conditions in ASIC Corporations (Electronic Lodgement of Financial and Sustainability Reports) Instrument 2016/181 are met. Sustainability reports lodged with ASIC will be available on the public register at ASIC Connect using the company name search under Organisations & Business Names. For information on how and when to lodge sustainability reports, visit our Sustainability reporting webpage, which will be updated in due course with details of the lodgement process. Allow time for ASIC to consider your sustainability reporting relief applications We encourage entities considering applying for sustainability reporting relief to begin the application process as early as possible. As sustainability reporting requirements are new, your application may raise novel issues which may take longer to assess because they raise new policy considerations.  We encourage applicants to apply for relief well before the applicable statutory deadline. Sustainability reporting relief applications lodged around the statutory deadline risk being refused as there is insufficient time to properly consider the application. We will generally refuse sustainability reporting relief applications lodged after the statutory deadline because a breach has occurred, and we do not have the power to grant retrospective relief. Entities considering applying for sustainability reporting relief should note the following: Applications are to be lodged through the ASIC Regulatory Portal as an ‘Application for declaration or exemption or order – Application for Relief’ and selecting the appropriate head of power. Applications for relief incur an application fee when the application is made, irrespective of the outcome. The current application fee is $3,487 for each entity requesting relief. Further information on our fee charges is outlined in Regulatory Guide 51 Applications for relief (RG 51). Applications for relief under section 340 must be made validly – that is, the application must be in writing, be authorised by resolution of the company’s board of directors and be signed by a director. Our assessment of your relief application begins once all formal requirements are met. Applications must address at least one of the statutory pre-conditions in section 342(1) for relief specifically why complying with the obligation from which you seek relief would render the sustainability report misleading, be inappropriate in the circumstances, or impose unreasonable burdens. For guidance on how ASIC exercises its relief powers, see Regulatory Guide 280 Sustainability reporting (RG 280), Regulatory Guide 43 Financial reports and audit relief (RG 43) and the relief from sustainability reporting requirements section of our website. You can also view the sustainability reporting and audit relief decisions register, which contains some of our decisions on sustainability reporting relief applications. Prospective applicants are encouraged to review the register before submitting a relief application as it will provide insights into the factors we consider in our decision-making process and conditions we may impose. The register will be updated as decisions are made (including where we refuse to exercise relief). Newsroom highlights Visit the ASIC newsroom to browse all speeches and announcements, past and current. You can also sign up to receive emailed news alerts directly from the source.

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Welcome Address, Datin Paduka Azalina Adham, Managing Director, Securities Commission Malaysia, Batik Lestari Festival 2025

It is great to see our Atrium area once again converted into a celebration of colour, creativity, and craftsmanship. Before I go any further, it is worth remembering where this all began. No less than our Prime Minister, Dato’ Seri Anwar Ibrahim, had observed that Batik is not just a fabric; rather it is a symbol of our nation’s identity. He then tasked the previous SC Chairman to ensure that this proud heritage be featured during Malaysia’s ASEAN Chairmanship and continues to thrive with the support of the capital market. Click here for full details.

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ASIC Issues New Regulatory Guide For Exchange-Traded Product Issuers

As part of its broader simplification program, ASIC has published a new regulatory guide, Exchange traded products (RG 282) with consolidated information about the treatment of exchange-traded products (ETPs), including exchange-traded funds (ETFs). RG 282 incorporates INFO 230 Exchange traded products: Admission guidelines (now withdrawn). It also draws from prior ASIC reports and industry expertise to explain key legislative instruments, regulatory relief, and other relevant information, including: The general obligations that apply to ETP issuers, such as responsible entities of registered managed investment schemes (including AFS licensing requirements and modified design and distribution obligations). Specific obligations under market operator rules that govern the admission and quotation of ETPs, such as portfolio disclosure requirements, product naming considerations, and liquidity and market-making arrangements. The general obligations that apply to market operators that admit ETPs, such as approving ETP issuers, portfolio disclosures, liquidity provisions and market-making matters. ASIC’s introduction of RG 282 followed a period of targeted consultation with industry stakeholders. Industry expressed support for a consolidated RG on ETPs and provided feedback on various policy issues. Background Exchange-traded funds (ETFs) are a subset of exchange-traded products (ETPs). The ETP market has experienced rapid growth in recent years. Investment in Australian ETFs grew in 2024 to reach $200 billion in funds under management, representing a 20-fold increase in market size over the last decade, and expected to continue to rise.Given the expansion of the ETP market and its complex regulatory environment, it is important that ASIC’s guidance assists regulated entities with meeting their legal obligations and ultimately supports ASIC’s market integrity and consumer protection objectives.RG 282 consolidates: INFO 230 Exchange traded products: Admission guidelines Report 583 Review of exchange traded products Report 282 Regulation of exchange traded funds, and reflects up to date information about ETPs and market practices.

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SIFMA Statement On Completion Of Quantum Dawn VIII Cybersecurity Exercise

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, upon completion of SIFMA’s global industry-wide Quantum Dawn VIII cybersecurity exercise: “Cyber threats to the financial services sector, and every other sector of the global economy, continue to grow in volume and complexity, necessitating ever increasing resiliency planning. As such, testing, planning, and preparedness remain a top priority for our industry.  In our most recent industry wide and global test, SIFMA’s Quantum Dawn VIII exercise simulated multiple distinct events which simultaneously impacted the sector. The overlapping nature of these events created a complex environment where resources were stretched thin and information sharing and decision-making was critical for maintaining operational integrity. “In the multi-faceted scenario, participants worked through a major cyber outage at a fictional FMI, which required its disconnection and reconnection to critical infrastructure, the severing of a major transatlantic communications cable which caused widespread disruptions in telecommunications between the U.S. and Europe, and the physical threat of an East Coast hurricane—all of which tested the resilience of both core operations and data centers. “The exercise engaged over 900 participants from more than 100 public and private sector institutions around the globe, including financial firms, central banks, regulators, and law enforcement entities.  Participants explored the impact and response to the crises in the scenario, working across a variety of business lines to determine what a real-world response to the fictional scenarios could look like. “SIFMA and its member firms are deeply committed to regularly testing and enhancing the financial services sector’s cybersecurity resiliency and working with government partners to protect the broader economy.  Our sister trades—AFME in Europe and ASIFMA in Asia—share our commitment to cyber preparedness.  SIFMA, in its crisis coordination role, led the exercise, which included participants from SIFMA, AFME and ASIFMA member firms, as well as public sector crisis teams across the globe. “Quantum Dawn VIII was designed to actively engage market stakeholders, share best practices with peer organizations, and validate the elements of existing crisis response playbooks both within firms and across the sector. “A clear takeaway from the exercise is the importance of a robust partnership between the industry and government grounded in information sharing.  No single actor – not the government, nor any individual firm – has the resources to protect markets from cyber threats on their own, nor do cyber incidents restrict themselves to one geographic region. “SIFMA will now work with Protiviti to analyze participant feedback and produce a public after-action report with key observations and recommendations for enhancing the financial services sector’s ability to respond to a poly-crisis. Protiviti has been a great partner in helping us develop and execute this exercise and we greatly appreciate their support. “Cybersecurity is truly an issue where the interests of the industry and public sector are fully aligned. SIFMA and our members are constantly working to improve cyber defenses, resiliency and recovery through massive monetary investment in technology and personnel, regular training, industry exercises, and close coordination between the financial sector and the government, including our regulators. Best practices are developed and refined regarding penetration testing, insider threats, third-party risks, and secure data storage and recovery. The lessons learned from Quantum Dawn VIII will help shape these initiatives going forward.”

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EBA: Competent Authorities Have Made Progress In Their Approaches To The Supervision Of CVA Risk

The European Banking Authority (EBA) today published a follow-up Peer Review Report on the exclusion from the credit valuation adjustment (CVA) risk of transactions with non-financial counterparties established in a third country. ​This follow-up Review found that competent authorities continue to largely assess CVA risk sufficiently, using different approaches which are fit for purpose in satisfying the regulatory requirements and the Supervisory Review and Evaluation Process (SREP) Guidelines. Furthermore, since the 2023 Report, all competent authorities have made some progress in strengthening their CVA risk assessments and addressing the follow-up measures suggested as part of that Report. ​The follow-up Peer Review focuses on the assessment of the same four EU competent authorities which were part of the 2023 Peer Review. While the follow-up review highlighted that all competent authorities have made some progress in strengthening their CVA risk assessments and addressing the follow-up measures suggested in the 2023 Report, it also found that only one competent authority has made specific efforts to review the compliance with the Exclusion Regulatory Technical Standard (RTS). Consequently, only one benchmark assessment of CVA risk assessment could be upgraded to ‘fully applied’, while for the other three competent authorities it has been kept as ‘largely applied’. ​​Legal basis and background ​The follow-up Peer Review has been conducted in accordance with Article 34 of the EBA methodology for the conduct of peer reviews (EBA/DC/2020/327). This requires a review committee to prepare a follow report two years after the publication of the initial peer review and to submit it to the Board of Supervisors. In accordance with the methodology, the follow-up report shall include an assessment of, but not be limited to, the adequacy and effectiveness of the actions undertaken by the competent authorities that are subject to the peer review in response to the follow-up measures of the peer review report.  Documents Follow-up Peer Review Report on the exclusion from the CVA risk of transactions with non-financial counterparties established in a third country (1.48 MB - PDF) Related content Page Peer Reviews Topic Market, counterparty and CVA risk

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Nodal Exchange Achieves New Trading Volume Records In October 2025

Nodal Exchange set a calendar month record for October 2025 with 313.8 million MWh, up 5% from October 2024. Nodal achieved a year-to-date record with January – October 2025 traded power futures volume of 2.652 billion MWh, up 2% from 2.600 billion MWh during the same period in 2024.  Nodal continues to be the market leader in North American power futures having the majority share of the open interest with 1.541 billion MWh at the end of October.  The open interest represents the electricity to serve about 145 million households for a year (more than the approximately 133 million households in the United States). Environmental futures and options on Nodal Exchanges posted volume in October of 68,108 lots, up 15% from 59,054 lots a month earlier, with open interest ending the month at 432,163 lots. The environmental markets suite of products was led by renewable energy certificates (RECs), which ended October with open interest of 302,580 lots, up 8% from a year earlier. “We are proud to serve the North American power and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “Managing risk in these markets is increasingly important, and we will work to continue to meet the evolving needs of the participants we serve.”

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Bermuda Stock Exchange Will Be Closed For Remembrance Day

The Bermuda Stock Exchange (“BSX”) advises that the Exchange will be closed on Tuesday, 11 November 2025, in observance of the Remembrance Day Public Holiday. The BSX will re-open on Wednesday, 12 November 2025.  

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The EBA Updates The Information Disclosed By EU Competent Authorities According To The Supervisory Disclosure Exercises For Q4 2024

  The European Banking Authority (EBA) updated today the aggregated overview on the implementation and transposition of the revised Capital Requirements Directive (CRD V) and Investment Firms Directive (IFD) packages. This update aims to enhance transparency and comparability of supervisory practices across Member States, without adding any reporting burden on reporting institutions. The information, published in an aggregated format, provides an updated overview of how Competent Authorities across the EU have implemented key aspects of the prudential framework for both credit institutions and investment firms. The disclosure includes: Texts of laws, regulations, administrative rules and general guidance adopted in each Member State in the field of prudential regulation. The way options and discretions are exercised under Union law. General criteria and methodologies used in supervisory review and evaluation processes. Aggregate statistical data on key aspects of the implementation of the prudential framework, including supervisory measures and administrative penalties. Legal basis This annual exercise is conducted in accordance with Article 143(2) of the CRD V and Article 57(4) of the IFD.  Related content Page Supervisory disclosure Page Rules and guidance Page Options and national discretions Page Supervisory review  

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ESMA Finds That Distribution Costs Account For Almost Half Of The Total Costs Paid To Invest In UCITS

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its report on total costs of investing in UCITS and AIFs. This is the first comprehensive assessment of the total costs charged to investors in EEA investment funds. Notably, the report provides an innovative analysis on distribution costs, which account for 48% of total costs for UCITS. These high costs are primarily driven by the traditional and dominant role of credit institutions and investment firms in the distribution chain across many Member States. In contrast, digital platforms - such as neo-brokers offering execution-only services - are less expensive.  The report also confirms that inducements play a central role for ongoing costs. When there are inducement agreements between the distributor and the manufacturer of a UCITS (non-independent advice), these payments account for up to 45% of the ongoing costs.  Next steps This analysis was enabled by an ad-hoc data collection exercise and provides a useful contribution to the ongoing SIU debate, especially in relation to retail participation. ESMA will present the main findings of today’s report during a webinar on 12 November between 10.00 and 11.00. Register here. Related Documents DateReferenceTitleDownloadSelect 06/11/2025 ESMA50-1949966494-3918 Report on total costs of investing in UCITS and AIFs 06/11/2025 Total fund costs factsheet Factsheet: Total fund costs - Key elements you need to know before investing

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Euronext Announces Launch Of A Share Repurchase Programme Of €250 Million

Euronext today announces a share repurchase programme (the ‘Programme’) for a maximum amount of €250 million. This Programme demonstrates Euronext’s proactive approach to capital allocation, the Group’s strong deleveraging path, and management’s confidence in the growth prospects of the Group. The Programme fully preserves the Group’s credit rating, financial flexibility to capture market opportunities and its dividend policy of a pay-out of 50% of reported net income. The Programme will be implemented as follows: Purpose: the purpose of the Programme is to reduce the share capital of Euronext. All shares repurchased as part of the Programme will be cancelled; Maximum amount allocated: €250 million; Duration: from 18 November 2025 until maximum 31 March 2026; Framework: Euronext aims to repurchase approximately 2% of its ordinary shares, as authorised by the General Meeting on 15 May 2025 to a limit of 10.0%. The Programme will be executed on Euronext Paris. Euronext has entered into a non-discretionary arrangement with a financial intermediary to conduct the repurchase. The Programme will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, and based on the authority granted by the annual general meeting of shareholders on 15 May 2025. Euronext will provide regular updates on the progress of the programme, in line with applicable regulations, at: euronext.com/en/investor-relations/capital-and-shareholding/share-buyback-program.

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Euronext Publishes Q3 2025 Results And Announces A Share Repurchase Programme - Euronext Has Delivered The Sixth Consecutive Quarter Of Double-Digit Growth, Driven By The Expansion Of Non-Volume-Related Businesses, Resilient Trading And Clearing Revenues And Continued Cost Discipline

 Euronext, the leading European capital market infrastructure, today publishes its results for the third quarter of 2025. Q3 2025 revenue and income was up +10.6%1 to €438.1 million: Non-volume-related revenue and income represented 60% of total revenue and income and covered 162% of underlying operating expenses, excluding D&A2: Securities Services revenues grew to €77.3 million (+6.0%), driven by double-digit revenue growth in custody and settlement, supported by sustainable growth in assets under custody, resilient settlement activity and strong growth of value-added services; Capital Markets and Data Solutions revenue grew to €168.4 million (+13.9%), driven by the first full-quarter contribution from Admincontrol and continued growth in Advanced Data Solutions; Net Treasury Income grew to €16.7 million (+23.8%), demonstrating the benefits of the Euronext Clearing expansion. Volume-related revenue was driven by a resilient performance across asset classes: FICC3 Markets revenue grew to €81.9 million (+11.0%), driven by continued double-digit growth in fixed income and commodities trading and clearing; Equity Markets revenue grew to €93.7 million (+6.6%), driven by robust volumes and revenue capture in cash equity trading and clearing. Underlying operating expenses excluding D&A were at €161.4 million (+7.3%). Euronext continued to deploy the planned level of growth investments. Thanks to rigorous cost discipline on recurring expenses, Euronext upgrades its guidance for underlying operating cost excluding D&A in 2025 to €660 million (from €670 million initially). Adjusted EBITDA was €276.7 million (+12.6%) and adjusted EBITDA margin was 63.2% (+1.2pts). Adjusted net income was €169.0 million and adjusted EPS was €1.68. Reported net income was €149.7 million and reported EPS was €1.49. Net debt to EBITDA4 was at 1.5x at the end of September 2025, down from 1.8x at the end of June 2025. Euronext will launch a share repurchase programme of a maximum of €250 million (around 2% of Euronext’s outstanding share capital). The programme will commence on 18 November 2025 and will conclude no later than 31 March 2026. This share repurchase programme is enabled by Euronext’s swift deleveraging path. It demonstrates Euronext’s proactive approach to capital allocation and strong confidence in the growth prospects of the Group. Key figures for the third quarter of 2025:  in €m, unless stated otherwise Q3 2025 Q3 2024 % var % var l-f-l Revenue and income 438.1 396.3 +10.6% +7.5% Underlying operating expenses exc. D&A (161.4) (150.5) +7.3% +2.9% Adjusted EBITDA 276.7 245.8 +12.6% +10.3% Underlying EBITDA margin 63.2% 62.0% +1.2pts +1.6pts Adjusted net income5 169.0 180.8 -6.5%*   Net income5 149.7 159.5 -6.1%*   Adjusted EPS (basic, in €) 1.68                            1.74                            -3.4%*   Reported EPS (basic, in €) 1.49                              1.54                           -3.2%*   *Due to a different dividend payment schedule, Euronext received €23.4 million of results from equity investments in Q3 2024, but none in Q3 2025 (dividend was received in Q2 this year). Progress with the delivery of ‘Innovate for Growth 2027’: On 22 September 2025, Euronext launched the first mini-sized, cash-settled futures on major European government bonds, expanding its derivatives franchise into fixed income6. This milestone aims to increase market flexibility and accessibility, attract a broader range of investors and strengthen Euronext’s position as a leading venue for fixed income products. On 30 September 2025, Euronext launched Euronext ETF Europe, creating the first fully integrated marketplace for ETFs and ETPs across Europe7. This achievement is designed to unify the European ETF market, reduce fragmentation and improve operational efficiency. The initiative aims to provide issuers with streamlined access to all Euronext markets, offer investors deeper liquidity and more competitive pricing, and support the development of a stronger European Savings and Investment Union. This initiative is widely supported by leading European and global ETF issuers and major brokers. On 6 October 2025, Euronext launched a voluntary exchange offer to acquire all shares of HELLENIC EXCHANGES-ATHEX STOCK EXCHANGE S.A. (“ATHEX”)8. ATHEX shareholders can exchange existing ATHEX shares for newly issued Euronext shares at an exchange ratio of one new Euronext share for every 20 existing ATHEX shares until 17 November 2025. This development marks a significant step towards a more integrated and competitive European capital market. Stéphane Boujnah, Chief Executive Officer and Chairman of the Managing Board of Euronext, said: "In the third quarter of 2025, Euronext delivered solid revenue and income of €438.1 million, driven by organic growth and acquisitions. This marks our sixth consecutive quarter of double-digit topline growth. Throughout the quarter, we continued to invest in growth and maintained a rigorous cost discipline on recurring expenses. Adjusted EBITDA reached nearly €280 million in Q3 2025, marking a significant +12.6% increase compared to Q3 2024. All the Euronext teams are fully engaged to deliver the targets of the Innovate for Growth 2027 strategic plan and interactions continue to progress with all our clients and partners to achieve these objectives. We launched the first fully integrated European marketplace for ETFs, with substantial efficiency gains and transparency for the entire value chain, including issuers, market makers, distributors, custodians and end investors. To boost retail participation, we have introduced the first-ever mini-sized, cash-settled futures on the main European government bonds. We are providing the innovative and competitive solutions that the European market needs. This is also reflected in the growing number of clients that actively support our CSD expansion, a key requisite for the success of this initiative. The continued success of Euronext has been recognised by our investors and has led to the inclusion of Euronext in the CAC 40®, the French blue-chip index, providing additional liquidity to our stock. We continue to deploy capital in a disciplined manner, leveraging our robust financial position. Our ongoing offer for ATHEX Group demonstrates a unique opportunity to accelerate the development and attractiveness of Greek markets internationally, generating efficiencies and competitiveness across the Group. We deleveraged from 1.8x Net debt to adjusted EBITDA to 1.5x in just three months. Supported by this deleveraging trajectory, we are pleased to announce the launch of a share repurchase programme of up to €250 million. This programme underlines our proactive approach to capital allocation and the confidence of Euronext’s management in the attractive growth prospects of the Group.” Q3 2025 business highlights In €m Q3 2025 Q3 2024 % var % var l-f-l Revenue and income 438.1 396.3 +10.6% +7.5% Securities Services 77.3 72.9 +6.0% +3.2% Capital Markets and Data Solutions 168.4 147.8 +13.9% +6.6% FICC Markets 81.9 73.8 +11.0% +11.8% Equity Markets 93.7 87.9 +6.6% +6.6% Net Treasury Income 16.7 13.5 +23.8% +23.8% Other income 0.2 0.4 N/A N/A Non-volume-related revenue Securities Services In €m Q3 2025 Q3 2024 % var % var l-f-l Revenue 77.3 72.9 +6.0% +3.2% Custody & Settlement 70.6 63.1 +11.8% +8.7% Other Post Trade 6.7 9.8 -32.0% -32.0% Revenue from Custody and Settlement in Q3 2025 was at €77.3 million, +6.0% compared to Q3 2024. This strong performance reflects Euronext’s sustainable growth in assets under custody, resilient settlement activity and strong growth of value-added services. Assets under custody reached €7.5 trillion at the end of the quarter, up +8.9% compared to the end of Q3 2024. Over 32.6 million instructions were settled via Euronext Securities during the third quarter of 2025, up +1.6% compared to the third quarter of 2024. Other Post Trade revenue, which includes membership fees and other non-volume-related clearing fees, was €6.7 million in Q3 2025. The -32.0% decrease compared to Q3 2024 stems from the internalisation of the treasury income related to Euronext derivatives flows in September 2024, which are now integrated in the Net Treasury Income line. Capital Markets and Data Solutions  In €m Q3 2025 Q3 2024 % var % var l-f-l Revenue 168.4 147.8 +13.9% +6.6% Primary Markets 46.2 44.8 +3.0% +3.0% Advanced Data Solutions 66.2 62.2 +6.5% +6.8% Corporate and Investor Solutions and Technology Services 56.0 40.8 +37.3% +10.3% Primary Markets revenue was €46.2 million in Q3 2025, an increase of +3.0% compared to Q3 2024. Euronext sustained its leading position for equity listing, with a solid rebound in the third quarter with 20 new listings. Advanced Data Solutions revenue was €66.2 million in Q3 2025, up +6.5% compared to Q3 2024. This strong performance reflects the ongoing growth in data solutions driven by growing client demand for diversified datasets and increased interest from retail clients. Corporate and Investor Solutions and Technology Services revenue grew by +37.3% in Q3 2025 to €56.0 million. This strong performance reflects the contribution of Admincontrol for a full quarter and solid growth of investor solutions and colocation services. Net Treasury Income Net Treasury Income was at €16.7 million, +23.8% compared to Q3 2024. This reflects the benefit from the Euronext Clearing expansion and the internalisation of treasury income from LCH SA following the derivatives clearing migration, completed in September 2024. Volume-related revenue FICC Markets In €m Q3 2025 Q3 2024 % var % var l-f-l Revenue 81.9 73.8 +11.0% +11.8% Fixed income trading & clearing 46.8 40.8 +14.7% +14.7% Commodities trading & clearing 27.6 24.8 +11.3% +11.4% FX trading 7.5 8.1 -8.3% -2.5% Fixed income trading and clearing revenue reached €46.8 million in Q3 2025, up +14.7% compared to Q3 2024, driven by double-digit growth in MTS Cash and MTS Repo volumes, supported by the expansion in the Dealer-to-Client segment and international growth. Commodities9 trading and clearing revenue reached €27.6 million in Q3 2025, up +11.3% compared to Q3 2024, reflecting record intraday power trading volumes and recovery of volumes on agricultural commodity trading and clearing. FX trading revenue was down -8.3%, at €7.5 million in Q3 2025, reflecting lower volatility and the negative currency impact of the USD. Equity Markets  In €m Q3 2025 Q3 2024 % var % var l-f-l Revenue 93.7 87.9 +6.6% +6.6% Cash equity trading & clearing 82.5 74.0 +11.5% +11.5% Financial derivatives trading & clearing 11.2 13.9 -19.4% -19.3% Cash equity trading and clearing revenue10 was €82.5 million in Q3 2025, up +11.5% compared to Q3 2024 driven by resilient activity and revenue capture. Euronext recorded average daily cash trading volumes of €11.0 billion, up +14.8% compared to Q3 2024. Euronext reached solid average revenue capture on cash trading at 0.53 bps for the third quarter of 2025. Euronext market share on cash equity trading averaged 63.0% in Q3 2025. Financial derivatives trading and clearing revenue was €11.2 million in Q3 2025, -19.4% compared to Q3 2024. This mostly reflects lower volatility. Following the clearing migration, certain clearing fees are now reported in the line Other Post Trade revenues, and as such are not fully comparable with Q3 2024. Q3 2025 financial performance In €m, unless stated otherwise Q3 2025 Q3 2024 % var % var l-f-l Revenues and income 438.1 396.3 +10.6% +7.5% Underlying operating expenses excl. D&A (161.4) (150.5) +7.3% +2.9% Adjusted EBITDA 276.7 245.8 +12.6% +10.3% Adjusted EBITDA margin 63.2% 62.0% +1.2pts +1.6pts Operating expenses excl. D&A (162.9) (154.6) +5.4% +1.1% EBITDA 275.2 241.7 +13.9% +11.5% Depreciation & amortisation (49.3) (47.2) +4.4% +7.5% Total expenses (212.2) (201.8) +5.1% +1.7% Adjusted operating profit 253.5 224.7 +12.8% +10.5% Operating profit 226.0 194.5 +16.2%   Net financing income / (expense) (6.8) 2.9 N/A   Results from equity investments - 23.4 N/A   Profit before income tax 219.1 220.7 -0.7%   Income tax expense (58.5) (52.5) +11.5%   Minority interests (11.0) (8.8) +25.1%   Net incomeshare of the parent company shareholders 149.7 159.5 -6.1%   Adjusted net income 169.0 180.8 -6.5%   Adjusted EPS (basic, in €) 1.68 1.74 -3.4%   Reported EPS (basic, in €) 1.49 1.54 -3.2%   Adjusted EPS (diluted, in €) 1.64 1.74 -5.7%   Reported EPS (diluted, in €) 1.46 1.53 -4.6%   Q3 2025 adjusted EBITDA  Underlying operating expenses excluding D&A11 were at €161.4 million (+7.3%). The increase compared to Q3 2024 reflects investments in growth and the impact of acquisitions performed in 2025, partially offset by cost discipline.As a result of the double digit growth in revenue, adjusted EBITDA for the quarter reached €276.7 million, up +12.6% compared to Q3 2024. This represents an adjusted EBITDA margin of 63.2%, up +1.2pts vs. Q3 2024. On a like-for-like basis at constant currencies, adjusted EBITDA grew by +10.3% compared to Q3 2024.Q3 2025 non-underlying operating expenses excluding D&A amounted to €1.5 million, mostly related to the integration of recent acquisitions. As a consequence, reported EBITDA was at €275.2 million, up +13.9% compared to Q3 2024. Q3 2025 net income, share of the parent company shareholders  Depreciation and amortisation accounted for €49.3 million in Q3 2025, +4.4% more than Q3 2024. PPA related to acquired businesses accounted for €19.7 million. Adjusted operating profit was €253.5 million, up +12.8% compared to Q3 2024. Euronext reported a net financing expense of €6.8 million in Q3 2025, compared to €2.9 million net financing income in Q3 2024. The variation reflects decreasing interest rates, lower cash position after the redemption of the €500 million bond, the recognition of non-cash interest expense related to the convertible bonds and the impact of currency variations.Income tax for Q3 2025 was €58.5 million. This translated into an effective tax rate of 26.7% for the quarter, compared to 23.8% in Q3 2024. In Q3 2024, the tax rate was positively impacted by the tax-exempt €23.4 million dividend received. Due to a different dividend payment schedule, Euronext received dividends in Q2 2025 and expects to receive a second dividend in Q4 2025, and none in Q3 2025. Share of non-controlling interests amounted to €11.0 million, correlated with the resilient performance of MTS and Nord Pool.As a result, the reported net income (share of the parent company shareholders) decreased by -6.1%for Q3 2025 compared to Q3 2024, to €149.7 million. This represents a reported EPS of €1.49 basic and €1.46 diluted. Adjusted net income, share of the parent company shareholders, was down -6.5% to €169.0 million. Adjusted EPS (basic) was €1.68 and adjusted EPS (diluted) was €1.64. The weighted number of shares used over the third quarter of 2025 was 101,294,214 for the basic calculation and 102,688,870 (including convertible bonds) for the diluted calculation, compared to 103,649,167 and 104,036,188 respectively over the third quarter of 2024. The difference in share count is due to the share repurchase programme executed by Euronext and the consideration of the convertible bonds under IAS 33. In Q3 2025, Euronext reported a net cash flow from operating activities of €401.0 million, compared to €237.4 million in Q3 2024, mainly reflecting higher working capital from Euronext Clearing and Nord Pool CCP activities in Q3 2025. Excluding the impact of working capital from Euronext Clearing and Nord Pool CCP activities, net cash flow from operating activities accounted for 99.9% of EBITDA in Q3 2025.Q3 2025 corporate highlights since publication of the second quarter 2025 results on 31 July 2025 Euronext joined the CAC 40® Index  On 12 September 2025, Euronext announced its inclusion in the CAC 40 Index12. This recognition highlights Euronext’s strong market performance and shareholder value creation since its IPO in 2014. Euronext’s entry into the CAC 40 Index underscores its significant growth and fundamental role in European financial markets. Euronext expanded into fixed income derivatives with the first-ever mini futures on key European government bonds  On 22 September 2025, Euronext launched an innovative suite of fixed income derivatives, introducing the first-ever mini-sized, cash-settled futures on major European government bonds13. This significant development enhances market flexibility and accessibility, creating new opportunities for both retail and institutional investors. This new product line further expands Euronext’s derivatives franchise, which already covers equity and commodity derivatives and will soon include power derivatives. Euronext launched Euronext ETF Europe, the first fully integrated European marketplace for ETFs  On 30 September 2025, Euronext launched Euronext ETF Europe, the first fully integrated marketplace for ETFs and ETPs across Europe14. As part of the Innovate for Growth 2027 strategic plan, this initiative aims to unify the European ETF market, reduce fragmentation and boost operational efficiency. Issuers can now list a product once and access all Euronext markets through a single infrastructure and consolidated order book, while investors benefit from broader access, deeper liquidity and more competitive pricing. The integrated model combines listing, trading, clearing and settlement, enhancing efficiency and transparency for all participants and supporting the growth of a European Savings and Investments Union. Corporate highlights since 1 October 2025 Euronext announced the launch of the voluntary exchange offer for all ATHEX shares  On 6 October, Euronext announced the launch of a voluntary exchange offer to acquire all common registered shares of ATHEX15. The acceptance period is running from 6 October 2025 to 17 November 2025. ATHEX shareholders can exchange their shares for newly issued Euronext shares at a ratio of one Euronext share for every 20 ATHEX shares, in accordance with Greek Law 3461/2006. This represents a significant step towards a more integrated and competitive European capital market. For further information and news about the Tender Offer, please visit the dedicated webpage: www.euronext.com/en/athex-offer. Euronext 2026 financial calendar Full-year 2025 results: Release on Wednesday 18 February 2026, after market closing  Analysts conference on Thursday 19 February 2026 Quiet period from 29 January to 18 February 2026 Q1 2026 results: Release on Tuesday 19 May 2026, after market closing  Analysts conference on Wednesday 20 May 2026 Quiet period from 29 April to 19 May 2026 Annual General Meeting: Wednesday 20 May 2026 Q2 2026 results: Release on Thursday 30 July 2026, after market closing  Analysts conference on Friday 31 July 2026 Quiet period from 10 July to 30 July 2026 Q3 2026 results: Release on Thursday 5 November 2026, after market closing  Analysts conference on Friday 6 November 2026 Quiet period from 16 October to 5 November 2026 Euronext volumes for October 2025 In October 2025, Euronext Securities reported a new record month for settlement instructions with 14,459,783 settlement instructions recorded, up +23.1% compared to the same period last year. The total Assets Under Custody reached a new record level of €7.7 trillion in October 2025, up +9.1% compared to the same period last year. MTS Cash average daily volumes were up +10.9% to €52.0 billion in October 2025. MTS Repo term adjusted average daily volume stood at €595.4 billion, up +2.6% compared to the same period last year. €3,203 billion of wholesale bonds were cleared in October 2025 (double counted), up +6.9% compared to the same period in 2024. 1,142,766 bond retail contracts were cleared in October 2025 (double counted), down -25.0% compared to October 2024. The average daily volume on Euronext FX’s spot foreign exchange market stood at $24.7 billion, down -5.7% compared to the same period last year. The average daily volume on Euronext commodity derivatives stood at 114,307 lots, down -7.2% compared to October 2024. Average daily day-ahead power traded was 2.83TWh, up +3.9% compared to the same period last year, and average daily intraday power traded was 0.55TWh, up +69.4% compared to October 2024. The average daily transaction value on the Euronext cash order book stood at €12.7 billion, up +24.4% compared to the same period last year. Euronext Clearing cleared 23,757,328 shares in October 2025, up +14.1% compared to October 2024. The average daily volume on Euronext equity derivatives stood at 473,991 lots, up +7.2% compared to October 2024.  Results Webcast A webcast will be held on Friday, 7 November 2025, at 09:00 CET (Paris time) / 08:O0 GMT (London time): For the live webcast, visit https://euronext.engagestream.companywebcast.com/2025-11-07-enxq3results/register The webcast will be available for replay after the call at the webcast link and on the Euronext Investor Relations webpage.

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Fiserv Recognized As A Leader In IDC MarketScape For North America Retail Digital Banking Solutions

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, today announced that it has been named a Leader in the IDC MarketScape: North America Retail Digital Banking Solutions 2025-2026 Vendor Assessment (doc #US52039425, November 2025). According to the report, “Experience Digital is suited for banks and credit unions of all sizes, direct banks, and neobanks seeking a core-agnostic digital banking solution deployable across multiple environments. It is especially relevant for existing Fiserv core clients seeking a unified vendor for both core and digital banking, while also offering flexibility for on-premises or cloud-hosted deployment.” “We believe being recognized by the IDC MarketScape as a Leader affirms the strength of our strategy and the trust our clients place in us,” said Whitney Russell, Head of Digital and Financial Solutions, Fiserv. “At Fiserv, we are empowering financial institutions to deliver the kind of digital experiences that deepen relationships, drive growth and define the future of banking.” The IDC MarketScape provides a rigorous, structured framework for evaluating technology providers, going beyond market share to assess product capabilities, strategic direction, and long-term success potential. “As consumers and small businesses increasingly turn to digital banking, Experience Digital enables institutions of all sizes to deliver a full range of sought-after experiences,” said Marc DeCastro, Research Director at IDC. “This positions financial institutions to remain central to real-time money movement, bill pay, P2P, and alerts for the customers they serve.” Built to unify consumer and business banking across online and mobile channels, Experience Digital integrates seamlessly with both Fiserv and non-Fiserv core platforms, payments, and merchant services. The platform offers two deployment paths: - Configure Digital – for institutions seeking a configurable solution - Create Digital – for those building custom experiences with internal development teams Experience Digital also connects with: - Finxact® – Fiserv’s cloud-native core - CashFlow CentralSM – accounts payable/receivable platform - Clover® – the world’s smartest point of sale system Together, these integrations create a unified digital ecosystem that bridges retail banking, small business services, and payments.

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Tradeweb Reports October 2025 Total Trading Volume Of $65.4 Trillion And Average Daily Volume Of $2.8 Trillion - October 2025 ADV Up 20.7% YoY

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported total trading volume for the month of October 2025 of $65.4 trillion (tn). Average daily volume (ADV) for the month was $2.8tn, an increase of 20.7 percent (%) year-over-year (YoY). Record Highlights: For October of 2025, Tradeweb records included: ADV in U.S. swaps/swaptions < 1-year October 2025 Highlights rates    U.S. government bond ADV was up 4.0% YoY to $229.4 billion (bn). European government bond ADV was up 18.2% YoY to $63.2bn. US. government bond ADV was led by strong growth in the institutional client channel, which saw its second-best volume month ever. Robust European government bond ADV was driven by strong volumes across our institutional and wholesale client channels. Strong activity in the U.S. and Europe was supported by an increased number of clients trading across a diverse set of trading protocols. Mortgage ADV was up 2.1% YoY to $253.9bn. To-Be-Announced (TBA) activity was driven by increased dollar-roll trading and elevated participation from mortgage originators YoY. Tradeweb’s specified pool platform recorded strong volumes, supported by continued client adoption, setting a new monthly record for total accounts executing on the platform. Swaps/swaptions ≥ 1-year ADV was up 20.3% YoY to $501.1bn and total rates derivatives ADV was up 44.7% YoY to $1.1tn. Swaps/swaptions ≥ 1-year volumes were supported by continued global tariff tension, central bank rate cuts, and a 39% YoY increase in compression activity, which carries a relatively lower fee per million (FPM). 4Q25 to-date compression activity as a percentage of swaps/swaptions ≥ 1-year is trending higher than 3Q25. credit    Fully electronic U.S. credit ADV was up 6.6% YoY to $7.9bn and European credit ADV was up 15.7% YoY to $2.9bn. U.S. credit volumes were driven by continued client adoption of Tradeweb protocols, most notably in Portfolio Trading (PT), Tradeweb AllTrade® and request-for-quote (RFQ). Tradeweb captured 17.4% and 7.9% share of fully electronic U.S high grade and U.S. high yield TRACE, respectively, as measured by Tradeweb. We also reported 25.3% total share of U.S. high grade TRACE and 10.0% total share of U.S. high yield TRACE. European credit volumes were driven by continued adoption of Tradeweb’s Automated Intelligent Execution (AiEX) tool and PT. Cash credit PT ADV increased by 26.3% YoY, with non-comp PT ADV up 51.5% YoY. PT carries a relatively lower FPM as compared to the broader cash credit average, with non-comp PT carrying a lower FPM than PT overall. Municipal bonds ADV was up 24.6% YoY to $490 million (mm). Municipal bonds reported strong growth across the retail and institutional platforms, outpacing the broader market, which was down 1.3%1 Credit derivatives ADV was up 57.2% YoY to $21.4bn. Increased hedge fund and systematic account activity YoY, along with heightened credit volatility, led to increased swap execution facility (SEF) and multilateral trading facility (MTF) credit default swaps activity. equities    U.S. ETF ADV was up 51.2% YoY to $9.9bn and International ETF ADV was up 32.0% YoY to $3.7bn. Strong global ETF volumes were driven by continued expansion of the global platform’s client base as well as adoption of our automated rules-based RFQ trading protocol. money markets    Repo ADV was up 16.5% YoY to $790.6bn. Global repo trading activity was supported by increased client participation across the platform. In the U.S., strong growth was driven by the effects of the Fed’s balance sheet unwind. Additionally, balances in the Fed’s reverse repo facility (RRP) remained near zero for the majority of the month, despite an increase in balances toward month-end. In Europe, strong activity continued despite ongoing central bank balance sheet reduction putting some mild upward pressure on European funding levels. Other Money Markets ADV was down 8.0% YoY to $271.3bn. Other money markets activity was lower YoY, driven by certain ICD clients continuing to rebuild their money market fund balances following share buyback activity in the market and increased business-related spend earlier this year. This decline was partially offset by the addition of new clients. Please refer to the report posted to https://www.tradeweb.com/newsroom/monthly-activity-reports/ for complete information and data related to our historical monthly, quarterly and yearly ADV and total trading volume across asset classes. 1Based on data from MSRB.

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CME Group Declares Quarterly Dividend

CME Group Inc., the world's leading derivatives marketplace, today declared a fourth-quarter dividend of $1.25 per share. The dividend is payable December 30, 2025, to shareholders of record as of December 12, 2025.

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