The report summarizes banking conditions and the Federal Reserve’s supervisory and regulatory activities, in conjunction with semiannual testimony before Congress by the Vice Chair for Supervision. 2025 December:Report: PDF | Data Sources and Terms 2024 November:Report: HTML |  PDF | Chart Data and DescriptionsTestimony: HTML | PDF May:Report: HTML | PDF | Chart Data and DescriptionsTestimony: HTML | PDF 2023 November:Report: HTML | PDF | Chart Data and DescriptionsTestimony: HTML | PDF May:Report: HTML | PDF | Chart Data and DescriptionsTestimony: HTML | PDF 2022 November:Report: HTML | PDF | Chart Data and DescriptionsTestimony: HTML | PDF May:Report: HTML | PDF | Chart Data and Descriptions 2021 November:Report: HTML | PDF | Chart Data and Descriptions April:Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions 2020 November:Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions May:Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions 2019 November:Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions May:Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions 2018 Testimony: HTML | PDFReport: HTML | PDF | Chart Data and Descriptions

Comptroller of the Currency Jonathan V. Gould today issued the following statement on the release of the report titled “Operation Chokepoint 2.0: Biden’s Debanking of Digital Assets,” issued by the U.S. House of Representatives’ Financial Services Committee majority staff. The congressional staff report on the Biden Administration’s coordinated effort to debank digital assets confirms what many have long suspected: the Biden Administration’s actions discouraged and prevented the institutions within the regulated banking system from engaging with digital assets. I commend Financial Services Committee Chairman Hill and his staff for shining a light on the politicization of banking which has hampered industry’s efforts to modernize, innovate, better serve their customers and contribute to the national economy. To provide transparency around the OCC’s prior requirement for non-supervisory objection before a national bank engaged in digital asset activities under Interpretive Letter 1179, the OCC recently published each formal bank request submitted and the agency’s response. Additionally, the OCC has removed references to reputation risk in its handbooks and guidance documents and, with the Federal Deposit Insurance Corporation, issued a proposal to codify the elimination of reputation risk from its supervisory programs. These actions eliminate one of the tools previously used by regulators to drive debanking. Consistent with the President’s Executive Order on Guaranteeing Fair Banking for All Americans, the OCC continues its investigation into the role played by the largest banks in debanking digital asset customers or other legal businesses. The OCC intends to hold these banks accountable for any unlawful debanking activities it identifies, and to ensure OCC-supervised institutions provide access to financial services based on individualized, objective and risk-based analyses. Related Links Summary of Interpretive Letter 1179 Requests Comptroller of the Currency Jonathan V. Gould

The Office of the Comptroller of the Currency (OCC) today announced that it is maintaining assessment rates for the 2026 Calendar Year. OCC-regulated institutions will continue to benefit from the decrease in assessment rates that the agency made as recently as September 2025. For the September 30, 2025, semiannual assessment, the OCC reduced the rates in the general assessment fee schedule by 30 percent for assets up to $40 billion and 22 percent for assets above $40 billion and reduced the rates in the independent trust and independent credit card assessment fee schedules by 22 percent. The 2026 assessment rates will provide the OCC with sufficient resources to ensure a well-trained staff that keeps up with emerging trends and embraces new technologies in performing the agency’s important mission to maintain the safety and soundness of the federal banking system. The calendar year 2026 assessment rates will be in effect as of January 1, 2026, and will be reflected in assessments paid on March 31, 2026, and September 30, 2026. Related Link Schedule

In November 2025, total trading volumes across Moscow Exchange's markets was RUB 149.2 trln. Equities Market Trading volume in shares, DRs and investment fund units was RUB 2.3 trln. ADTV was RUB 87.8 bln. Bonds Market Turnover in bonds reached RUB 4.4 trln, excluding overnight bonds. ADTV was RUB 167.3 bln. The total volume of bond issues and buybacks amounted to RUB 3 trillion. This included the placement of RUB 244 billion of overnight bonds. Derivatives Market Trading volumes on the market was RUB 11.5 trln. ADTV was RUB 440.8 bln. Money Market Money Market turnover was RUB 116.9 trln. ADTV was RUB 4.5 trln. The CCP-cleared repo segment reached RUB 54.3 trln, including the GCC repo segment which totalled RUB 46.2 trln. Read more on the Moscow Exchange: https://www.moex.com/n95745

Monthly statistics including stock and derivative statistics; Volumes and Market cap Most traded companies Most active members Listings and member Attachments:Statistics_November_2025_summary_.pdf

Nasdaq, Inc. (Nasdaq: NDAQ) (“Nasdaq” or the “Company”) today announced its offers to purchase for cash in the order of priority set forth in the table below (the “Acceptance Priority Levels”) up to an aggregate purchase price of $95,000,000 (excluding Accrued Interest (as defined below)) (the “Maximum Tender Payment”) for its outstanding Notes, subject to (i) a sub-cap of $80,000,000 in aggregate principal amount (the “2028 Notes Cap”) of the Company’s 5.350% Senior Notes due 2028 (the “2028 Notes”) and (ii) a sub-cap of $10,000,000 in aggregate principal amount (the “2052 Notes Cap”) of the Company’s 3.950% Senior Notes due 2052 (the “2052 Notes”). The 2028 Notes and the 2052 Notes are referred to collectively herein as the “Notes,” such offers to purchase are referred to collectively herein as the “Tender Offers” and each a “Tender Offer,” and the 2028 Notes Cap and the 2052 Notes Cap are referred to collectively herein as the “Series Notes Caps” and each a “Series Notes Cap.”   Title of Security Security Identifiers Principal Amount Outstanding Acceptance Priority Level(1) Series Notes Cap(1) Early Tender Premium(2)(3) U.S. Treasury Reference Security(4) Fixed Spread(basis points) 2028 Tender Offer 5.350% Senior Notes due 2028 CUSIP:63111X AH4ISIN:US63111XAH44 $880,000,000 1 $80,000,000 $30.00 3.500% UST due November 15, 2028 35 bps 2052 Tender Offer 3.950% Senior Notes due 2052 CUSIP:631103 AM0ISIN:US631103AM02 $429,995,000 2 $10,000,000 $30.00 4.750% UST due August 15, 2055 75 bps (1)   The Tender Offers are subject to the Maximum Tender Payment of $95,000,000 and the applicable Series Notes Caps.(2)   Per $1,000 principal amount of Notes validly tendered on or prior to the Early Tender Date (as defined below) and accepted for purchase by the Company.(3)   Does not include Accrued Interest, which will also be payable as described below.(4)   The applicable page on Bloomberg from which the dealer manager will quote the bid side price of the U.S. Treasury Security is FIT1. The Tender Offers are being made upon the terms and subject to conditions described in the Offer to Purchase, dated December 1, 2025 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), which sets forth a detailed description of the Tender Offers. Notes validly tendered prior to or at the Early Tender Date will be accepted for purchase in priority to other Notes validly tendered after the Early Tender Date, subject to the Series Notes Caps and the Maximum Tender Payment, even if such Notes validly tendered after the Early Tender Date have a higher Acceptance Priority Level than the Notes validly tendered prior to or at the Early Tender Date. The Company reserves the right, but is under no obligation, to increase or decrease any or both of the Series Notes Caps and/or the Maximum Tender Payment in its sole discretion at any time without extending or reinstating withdrawal rights, subject to compliance with applicable law. The Tender Offers for the Notes will expire at 5:00 p.m., New York City time, on December 30, 2025, or any other date and time to which the Company extends the applicable Tender Offer (such date and time, as it may be extended with respect to a Tender Offer, the “Expiration Date”), unless earlier terminated. Holders of Notes must validly tender and not validly withdraw their Notes prior to or at 5:00 p.m., New York City time, on December 12, 2025 (such date and time, as it may be extended with respect to a Tender Offer, the “Early Tender Date”), and the holder’s Notes must be accepted for purchase, to be eligible to receive the applicable Total Consideration (as defined below). If a holder validly tenders Notes after the applicable Early Tender Date but prior to or at the applicable Expiration Date, and the holder’s Notes are accepted for purchase, the holder will only be eligible to receive the applicable Tender Offer Consideration (as defined below). Subject to the Maximum Tender Payment, the Series Notes Caps, the Acceptance Priority Levels and proration, if applicable, the total consideration for each $1,000 principal amount of the Notes validly tendered (and not validly withdrawn) prior to the Early Tender Date and accepted for purchase pursuant to each Tender Offer will be calculated in the manner described in the Offer to Purchase by reference to the applicable Fixed Spread for such Notes specified in the table above plus the applicable yield based on the bid-side price of the applicable U.S. Treasury Reference Security specified in the table above at 10:00 a.m., New York City time, on December 15, 2025 (excluding Accrued Interest with respect to each series of Notes, the “Total Consideration”). The Total Consideration includes an applicable early tender premium per $1,000 principal amount of Notes accepted for purchase as set forth in the table above (with respect to each series of Notes, the “Early Tender Premium”). Notes validly tendered after the Early Tender Date but prior to the Expiration Date and accepted for purchase will receive the Total Consideration minus the Early Tender Premium (with respect to each series of Notes, the “Tender Offer Consideration”). In addition to the consideration described above, all holders of Notes accepted for purchase in the Tender Offers will receive accrued and unpaid interest on such Notes from the last interest payment date with respect to such Notes to, but not including, the applicable settlement date (“Accrued Interest”). The Company intends to fund the purchase of validly tendered and accepted Notes with available cash on hand and other sources of liquidity. The purpose of the Tender Offers is to purchase a portion of the Notes, subject to the Maximum Tender Payment and the Series Notes Caps, in order to reduce the Company’s total outstanding public debt. The Tender Offers will expire on the applicable Expiration Date. Except as set forth below, payment for the Notes that are validly tendered prior to or at the Expiration Date and that are accepted for purchase will be made on a date promptly following the Expiration Date, which is currently anticipated to be December 31, 2025, the first business day after the Expiration Date. The Company reserves the right, in its sole discretion, to make payment for Notes that are validly tendered prior to or at the Early Tender Date and that are accepted for purchase on an earlier settlement date, which, if applicable, is currently anticipated to be December 17, 2025, provided that the conditions to the satisfaction of the applicable Tender Offer are satisfied. The Company is not obligated to conduct any early settlement or have any early settlement occur on any particular date. Tendered Notes may be withdrawn prior to or at, but not after, 5:00 p.m., New York City time, on December 12, 2025. The Tender Offers are subject to the satisfaction or waiver of certain conditions which are specified in the Offer to Purchase. The Tender Offers are not conditioned on any minimum principal amount of Notes being tendered. Information Relating to the Tender Offers The Offer to Purchase is being distributed to holders beginning today. J.P. Morgan Securities LLC is serving as dealer manager in connection with the Tender Offers. Investors with questions regarding the terms and conditions of the Tender Offers may contact the dealer manager as follows: J.P. Morgan Securities LLC270 Park AvenueNew York, New York 10017Attention: Liability Management GroupU.S. Toll-Free: (866) 834-4666Collect: (212) 834-3046   D.F. King & Co., Inc. is the Tender and Information Agent for the Tender Offers. Any questions regarding procedures for tendering Notes or request for copies of the Offer to Purchase should be directed to D.F. King & Co., Inc. by any of the following means: by telephone at (877) 478-5045 (toll-free) or (646) 845-0146 (collect) or by email at nasdaq@dfking.com. This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders with respect to, the Notes. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase made available to holders of the Notes. None of the Company or its affiliates, their respective boards of directors, the dealer manager, the tender and information agent or the trustee with respect to any series of Notes is making any recommendation as to whether or not holders should tender or refrain from tendering all or any portion of their Notes in response to the Tender Offers. Holders are urged to evaluate carefully all information in the Offer to Purchase, consult their own investment and tax advisors and make their own decisions whether to tender Notes in the Tender Offers, and, if so, the principal amount of Notes to tender. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. Cautionary Note Regarding Forward Looking Statements This press release contains forward-looking information that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. When used in this communication, words such as “enables,” “intends,” “will,” and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this press release include, among other things, statements about the proposed Tender Offers and the expected source of funds. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the Tender Offers on the terms and timing described herein, or at all, Nasdaq’s ability to implement its strategic vision, initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of the Company’s website at http://ir.nasdaq.com. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial technology, today announced the appointment of Walter Pritchard as Senior Vice President, Head of Investor Relations, effective December 1, 2025. Pritchard brings more than 25 years of experience in investor relations, corporate strategy, finance and equity research. Most recently, he served as Senior Vice President of Investor Relations and Corporate Development at Palo Alto Networks, where he helped align company strategy with external investor messaging and led corporate development and strategic finance to support the company’s evolution and growth. Prior to Palo Alto Networks, Pritchard served as Managing Director at Citi and Cowen & Company, covering the global software and broader technology industry. He began his career at SoundView Technology Group, holds the Chartered Financial Analyst designation and earned his Bachelor of Arts in Chemistry from Pomona College. “Walter brings deep expertise in understanding market dynamics and communicating with investors and analysts,” said Paul Todd, Chief Financial Officer at Fiserv. “We look forward to collaborating with him to strengthen our engagement with the investment community as we work to drive long-term shareholder value. We are thrilled to welcome Walter to Fiserv.”

Nasdaq (Nasdaq:NDAQ) today publishes monthly trade statistics for the Nordic1 and Baltic2 markets. Below follows a summary of the statistics for November 2025: The share trading increased by 11.7% to a daily average of 3.319bn EUR, compared to 2.972bn EUR in November 2024. Compared to the previous month, October 2025, the daily average increased by 6.0%. Cleared derivatives volume decreased by 0.5% to a daily average of 279,417 contracts, compared with 280,784 contracts in November 2024. ETP trading3 (Exchange Traded Products) decreased by 3.7% to a daily average of 42.5m EUR compared to 44.2m EUR in November 2024. Novo Nordisk A/S was the most traded stock per day during the past month, followed by Investor AB. Goldman Sachs Bank Europe SE was the most active member during the past month, followed by Morgan Stanley Europe SE. Nasdaq Nordic’s share of order-book trading in our listed stocks increased to 74.2%, compared to 72.7% in the previous month4. The average order book depth at the best price level was larger at Nasdaq Nordic than the second most liquid trading venue, see detailed figures per exchange:For OMXC25 companies 1.9 larger For OMXH25 companies 2.0 larger For OMXS30 companies 2.6 largerNasdaq Nordic’s average time at EBBO5 (European Best Bid and Offer) was:For OMXC25 companies 73.6% (-1.4% from October) For OMXH25 companies 83.9% (3.7% from October) For OMXS30 companies 84.2% (-1.6% from October)1) Nasdaq Copenhagen, Helsinki, Iceland and Stockholm2) Nasdaq Riga, Tallinn and Vilnius.3) ETP trading (ETF, ETN, ETC, AIF) figures includes Nasdaq Copenhagen, Helsinki, Iceland and Stockholm.4) Included are the main European marketplaces that offer trading in Nasdaq Nordic listed shares. Source: BMLL5) EBBO (European Best Bid and Offer) refers to the current best price available for selling or buying a trading instrument such as a stock. Source: BMLL

Deutsche Börse with its trading venues Xetra and Frankfurt generated a turnover of €135.46 billion in November (previous year: €118.72 billion / previous month: €146.23 billion). €131.40 billion were attributable to “Deutsche Börse Xetra” (previous year: €115.02 billion / previous month: €141.05 billion), bringing the average daily Xetra trading volume to €6.57 billion (previous year: €5.48 billion / previous month: €6.13 billion). Trading volumes on “Deutsche Börse Frankfurt” were €4.06 billion (previous year: €3.70 billion / previous month: €5.18 billion). By type of asset class, equities accounted in total for €102.04 billion. Trading in ETFs/ETCs/ETNs generated a turnover of €31.51 billion. Turnover in bonds was €0.68 billion, in certificates €1.18 billion and in funds €0.05 billion. The DAX stock with the highest turnover on Xetra in November was Rheinmetall AG with €8.55 billion. Hensoldt AG led the MDAX with €999.02 million, while Salzgitter AG led the SDAX index with €146.19 Mio million. In the ETF segment iShares Core MSCI World UCITS ETF generated the largest volume with €864.01 million. Trading volumes November 2025 in billion euros:   Xetra Frankfurt Total Equities 100.12 1.93 102.04 ETFs/ETCs/ETNs 31.28 0.22 31.51 Bonds - 0.68 0.68 Certificates - 1.18 1.18 Funds - 0.05 0.05 November ‘25 in total 131.40 4.06 135.46 October ‘25 in total 141.05 5.18 146.23 November ‘24 in total 115.02 3.70 118.72 Further details are available in Deutsche Börse’s cash market statistics. For a pan-European comparison of trading venues, see the statistics provided by the Federation of European Securities Exchanges (FESE).

The FIA-sponsored European Agent Trustee Model (EATM) has gone live at LCH Ltd for its SwapClear service, marking an important milestone in a multi-year project between FIA, a consortium of bank clearing members, two European clearinghouses, and external counsel. The EATM is a new client clearing model designed to broadly replicate the futures commission merchant (FCM) clearing model in the US, with the aim of increasing the clearing capacity of globally systemically important bank (G-SIB) clearing members. It is intended to co-exist with, rather than be a substitute for, other clearing models available in Europe.  Five years in the making, the EATM has been created by FIA in collaboration with Bank of America, Barclays, Citi, Goldman Sachs and J.P. Morgan, as well as LCH Ltd, Eurex Clearing and Linklaters. It was initially designed for use with over-the-counter derivatives, but could be extended to exchange-traded contracts, subject to demand.  The EATM has been developed under English law, with an equivalent structure currently being developed under German law.  Under the EATM (English law), clearing members may enter trades with a CCP on behalf of their clients and hold those trades on trust for those clients. This differs from Europe’s predominant ‘principal model’ in which clearing members act as financial intermediaries between their clients and the CCP.   This means that under the EATM, a clearing member is party to one transaction – the client transaction with the CCP, whereas under the principal model, it is party to two transactions – one with the CCP and one with the client.  The aim of the EATM is to bolster capacity, particularly among G-SIB clearing members, which face additional capital charges when they clear OTC derivatives for their clients under the principal model.  “By effectively removing the double-counting, the EATM will help increase the capacity of clearing members offering client clearing in Europe through cost savings and efficiencies,” said Walt Lukken, FIA President and CEO. “The EATM provides welcome capacity for clearing services at a time of unprecedented growth in our markets.” The EATM replicates many features of the US FCM clearing model and was made possible by significant developments and improvements in the understanding of the legal underpinnings of the US version. “It has historically been difficult to design a clearing model outside the US that substantially replicates the US FCM clearing model, due to some uncertainty about the legal basis of that model,” said Mitja Siraj, FIA’s Vice President of Legal, Europe.  “Recent legal memoranda prepared for FIA and ISDA by external counsel have provided more clarity and enabled the articulation of the legal relationships underlying the US FCM clearing model. This has made it easier to reverse engineer that model. What has been a statutory construct unique to the US legal system has now been replicated through different arrangements that are referred to as agent-trustee structures outside the US.” Today’s launch by LCH Ltd’s SwapClear marks the go-live of the EATM (English law) model. This means that UK-based clearing members of SwapClear can offer the EATM to their clients, irrespective of their clients’ location.  Eurex Clearing is in the process of implementing the same model and will inform market participants once it has been completed. Both CCPs also intend to implement the EATM in due course for Germany-based clearing members.  While LCH Ltd and Eurex Clearing have been involved in the project from the start, the EATM is designed to be CCP-neutral and can be offered by any European CCP. It has also been designed to ensure there is minimal disruption to existing CCP operations, processes and rules. “LCH Ltd’s SwapClear service is delighted to work with FIA in support of our clearing members and the wider cleared swaps community as the first CCP to offer this model,” said Nick Rustad, Global Head of SwapClear & Listed Rates.   “Today’s launch of the new EATM model reflects a long-term coordinated effort among the FIA, consortium members, and CCPs to create future OTC clearing capacity in EMEA. The EATM model combines access to European segregation models and rulesets with the capital efficiency of the US agency model, offering our clients further optionality,” said Helen Gordon, Global Head Derivatives Clearing Product, J.P. Morgan.“The new EATM model is a key development in Europe to add capacity in client clearing. Barclays is pleased to have an alternative to manage a large and growing notional footprint. We know this is important for our clients and we strive to remain at the forefront of industry initiatives,” said Gary Saunders, Global Head of Liquid Financing Platform Services at Barclays.  "We are delighted to have helped the industry bring such a complex project to a successful conclusion," said Michael Voisin and Sarah Willis, who co-led the Linklaters team. "We began working on the legal analysis which underlies the EATM over 10 years ago and, over the last five years, have built on our initial feasibility study to design and implement the model.”   An FAQ with further details on the EATM client clearing model in Europe is available here.   FIA has published EATM-related documentation here.   

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that InnovestX Securities Co. Ltd., a leading brokerage and securities company in Thailand and a subsidiary of SCBX , the parent company of Siam Commercial Bank (SCB), one of Southeast Asia’s leading financial institutions, has selected ICE’s Portfolio Analytics (IPA) platform to enhance its risk management and analytics capabilities. “At InnovestX, our mission is to empower investors with seamless access to world-class investment opportunities powered by technology, innovation and transparency,” said Payon Pongsawaree CIO of InnovestX. “As the investment and securities arm of SCBX, we manage a diverse and growing portfolio of structured products that requires accurate pricing and efficient risk oversight. ICE’s IPA solution strengthens our risk management capabilities and enables us to scale efficiently, and deliver greater value to our clients as we continue to expand in Thailand.” With ICE’s IPA solution, InnovestX will gain a single platform for pre-trade pricing, intraday analytics and lifecycle management across multiple asset classes. ICE’s robust data and analytics can help InnovestX deliver more precise and timely valuations and improve the investment decision-making process for its clients. “We are well equipped to assist firms like InnovestX as they expand their structured product business and enhance their risk management activities,” said Christy Chan, Head of Client Development, APAC at ICE Data Services. “Our streaming market data and on-demand analytics, combined with pre-trade pricing and lifecycle management tools, provide the transparency and efficiency that can help leading issuers meet their clients’ investment and risk management needs and support growth in dynamic markets like Southeast Asia.” ICE’s IPA solution combines continuous market data, pricing, analytics and on-screen risk tools for simple to complex products across multiple asset classes. These capabilities can help firms like InnovestX to manage exposure, monitor risk and price products on an intraday basis, while supporting greater transparency and efficiency in rapidly growing markets. For more information on ICE Data Derivatives solutions, please visit: https://www.theice.com/market-data/pricing-and-analytics/derivatives.

JPX group companies undertake various initiatives and disseminate information with the aim of providing the most attractive markets to all users. Every month, we showcase the highlights of these efforts in short and concise summaries just for you. JPX Monthly Headlines November 2025 Nov. 4 / Nov. 17: Launch of J-Quants DataCube and Expansion of J-Quants Pro Dataset Nov. 5: JPXI Enlists the Support of AWS to Improve its Data/Digital Businesses Nov. 5: Notional Amount of Single Stock Options Trades in October 2025 Hits Post-Integration High for Second Consecutive Month Nov. 7: Record High Clearing Volume for JPY Interest Rate Swaps and Second-Highest Trading Volume for 3-Month TONA Futures in October 2025 Nov. 26: Japan–Southeast Asia Market Forum 2025

Japan Exchange Group, Inc. (JPX) today held the 20th General Meeting of the Council for Eliminating Antisocial Forces in the Exchange Market, which is organized with the National Police Agency and the Tokyo Metropolitan Police Department.The Council aims to strengthen cooperation between police agencies and JPX to help build a sound and fair market by blocking any relationship with antisocial forces, including organized crime groups that attempt involvement in the markets of Tokyo Stock Exchange, where cash equities such as shares are traded, and Osaka Exchange and Tokyo Commodity Exchange, where futures and other derivatives products are traded.Through the activities of the Council, we are specifically working on: 1. eliminating antisocial forces in the cash equity and derivatives markets; 2. strengthening cooperation and sharing information with police agencies; and 3. actively participating and cooperating in activities conducted by police agencies to eliminate organized crime groups and other antisocial forces.In today's 20th general meeting, the Council reviewed its activities over the past year, and members shared detailed information and had a lively exchange of opinions on recent developments.JPX will continue to strengthen its activities to eliminate antisocial forces through the activities of the Council and devote its utmost efforts to further enhance the reliability of the cash equity and derivatives markets.

Japan Exchange Group released Trading Overview in November 2025. Cash Equity Market - In November 2025, the daily average trading value for the Prime Market (domestic common stocks) was JPY 7.8177 trillion.- The daily average trading value for the ETF market was JPY 414.8 billion. Derivatives Market -In November 2025, total derivatives trading volume was 36,414,589 contracts and the second highest record for November.-In November 2025, total derivatives trading value was JPY 274 trillion and the second highest record for November.-In November 2025, trading volume for the night session and the ratio of the night session were 16,196,473 contracts and 44.5%. Reference(TSE) Reference(OSE and TOCOM) (note)･Changes in line with the TSE Market RestructuringIn line with the TSE market restructuring put into effect on April 4, 2022, the format of the Domestic Stocks section of the Preliminary Figures for Trading Conditions in April has been changed from the former market divisions to the new market segments from April 4, 2022.･Data contained in the PDF file in the above Reference(OSE and TOCOM) includes trading volume/value for Flexible Futures and Options.

LSEG announces it has purchased the following number of its ordinary shares of 679/86 pence each from Citigroup Global Markets Limited ("Citi") on the London Stock Exchange as part of its share buyback programme, as announced on 04 November 2025. Date of purchase: 28 November 2025 Aggregate number of ordinary shares purchased: 137,694 Lowest price paid per share: 8,876.00p Highest price paid per share: 8,934.00p Average price paid per share: 8,908.59p   LSEG intends to cancel all of the purchased shares. Following the cancellation of the repurchased shares, LSEG has 513,598,506 ordinary shares of 679/86 pence each in issue (excluding treasury shares) and holds 24,051,599 of its ordinary shares of 679/86 pence each in treasury. Therefore, the total voting rights in the Company will be 513,598,506. This figure for the total number of voting rights may be used by shareholders (and others with notification obligations) as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation) (as such legislation forms part of retained EU law as defined in the European Union (Withdrawal) Act 2018, as implemented, retained, amended, extended, re-enacted or otherwise given effect in the United Kingdom from 1 January 2021 and as amended or supplemented in the United Kingdom thereafter), a full breakdown of the individual purchases by Citi on behalf of the Company as part of the buyback programme can be found at: http://www.rns-pdf.londonstockexchange.com/rns/5277J_1-2025-11-28.pdf This announcement does not constitute, or form part of, an offer or any solicitation of an offer for securities in any jurisdiction. Schedule of Purchases Shares purchased:       137,694 (ISIN: GB00B0SWJX34) Date of purchases:      28 November 2025 Investment firm:         Citi Aggregate information: Venue Volume-weighted average price Aggregated volume Lowest price per share Highest price per share London Stock Exchange 8,908.59 137,694 8,876.00 8,934.00 Turquoise        

Financial advisers who are existing providers and intend to provide personal advice to retail clients about relevant financial products after 31 December 2025 are running out of time to: ensure that they meet the education and training requirements, review the accuracy of their information recorded on the Financial Advisers Register, and ask their AFS licensee to notify ASIC of their qualifications, or if eligible, that they are relying on the experienced provider pathway. *NEW* step by step instructions and trouble shooting tips ASIC’s new webpage, Updating the Financial Advisers Register – Qualifications and training details, includes step by step instructions on how to review the one-off data set published by ASIC and provides information on how to update any incomplete or inaccurate information by submitting a maintain (update) transaction via ASIC connect. It also includes some trouble shooting tips. ASIC encourages AFS licensees and relevant providers to double check the data using these new instructions.  For the urgent actions required from relevant providers who are also existing providers, see also ASIC urges immediate action from financial advisers as deadline approaches. Implications for not meeting the qualifications standard by 1 January 2026 For relevant providers who are also existing providers and who do not meet the qualifications standard by 1 January 2026, their AFS licensee should consider ceasing their authorisation on or before 31 December 2025 to avoid consequences to the existing provider status. In accordance with the legislation, if the relevant providers remain authorised and their authorisation ceases by operation of law on 1 January 2026, they will be required to compete a professional year and obtain an approved degree or equivalent qualification set out in Schedule 1 of the Corporations (Relevant Providers Degrees, Qualifications and Courses Standard) Determination 2021 before they can provide personal advice to retail clients again. They will be unable to meet the qualifications standard by accessing the existing provider pathways as set out in Part 3 of the determination. AFS licensees are responsible for ensuring relevant provider records are accurate and up to date on the Financial Advisers Register. ASIC’s latest spot-check A review of the information on the Financial Advisers Register shows: As of 20 November 2025, of the 15,469 relevant providers on the Financial Advisers Register, AFS licensees have notified ASIC that 7,959 hold an approved degree or qualification, 4,212 are relying on the experienced provider pathway, and 972 are recorded as holding both an approved degree or qualification and relying on the experienced provider pathway. The remaining 2,326 relevant providers have yet to meet the qualifications standard according to the information currently recorded on the Financial Advisers Register. Of this cohort, 836 may be eligible for the experienced provider pathway, but their AFS licensees are yet to notify ASIC of this. 827 relevant providers who are also existing providers, unless exempt, will need to complete the specified courses in commercial law and taxation law to continue to provide tax (financial) advice services from 1 January 2026. The Financial Advisers Register is an important register for consumers when making a decision about whether to engage the services of a relevant provider.  More information Maintain (update) or correct a relevant provider’s details Updating the Financial Advisers Register – Qualifications and training details Qualifications standard: This includes a table that gives some examples of outcomes for financial advisers who are existing providers related to meeting or not meeting the qualifications standard by 1 January 2026. Applying the professional standards: This includes scenarios to show how the professional standards apply to financial advisers, depending on an individual’s circumstances. Assessing financial adviser qualifications: For information on how AFS licensees should assess the qualifications of their financial advisers and input this information into the Financial Advisers Register. INFO 281: Accessing the experienced provider pathway: For information on the experienced provider pathway. Providing tax (financial) advice services: For information on providing tax (financial) advice services. ASIC urges immediate action from financial advisers as deadline approaches ASIC renews warning for AFS licensees ahead of deadline for financial advisers

(1) FX Daily Futures contracts(Click 365) The total trading volume of FX Daily Futures contracts (Click 365) was 1,592,051 ( -20.0% MoM / -11.4% YoY ) and its average daily trading volume was 79,604 . See the TABLE 1 for the composition of the trading volume. [TABLE 1] Items（Top 10 items in the current month）Nov 2025 Trading Volume一Daily AverageChange on Previous MonthYear on Year Change   Click 365 1,592,051 79,604 -20.0% -11.4%   U.S. Dollar-Japanese Yen 400,817 20,041 -33.8% -25.0% Turkish Lira -Japanese Yen 400,735 20,037 -13.3% -2.8% Mexican Peso-Japanese Yen 258,179 12,909 -1.8% 1.6% South African Rand-Japanese Yen 118,547 5,927 -8.8% 2.8% Australian Dollar-Japanese Yen 114,002 5,700 -35.5% -17.3% British Pound-Japanese Yen 68,717 3,436 -11.9% -31.2% New Zealand Dollar-Japanese Yen 39,255 1,963 -26.3% 0.8% Euro-Japanese Yen 39,063 1,953 -32.3% -20.9% Hungarian Forint-Japanese Yen 36,328 1,816 38.2% - Euro-U.S. Dollar 18,031 902 -35.7% -52.2% Other Currency pairs 98,377 4,920 -11.2% -16.3% Items(Top 5 items in the current month)Nov 2025 Trading valueTotal swap points   Click 365 1,526,994,279,750     U.S. Dollar-Japanese Yen 625,815,622,950 4,444 Turkish Lira -Japanese Yen 14,787,121,500 721 Mexican Peso-Japanese Yen 220,226,687,000 4,510 South African Rand-Japanese Yen 108,174,137,500 4,210 Australian Dollar-Japanese Yen 116,606,945,700 2,480 (2) Equity Index Daily Futures contracts (Click kabu 365) The total trading volume of Equity Index Daily Futures contracts (Click kabu 365) was 4,046,629 ( -9.6% MoM / -3.8% YoY ) and its average daily trading volume was 202,333 .See the TABLE 2 for the composition of the trading volume. [TABLE 2] ItemsNov 2025 Trading VolumeDaily AverageChange on Previous MonthYear on Year Change   Click kabu 365 4,046,629 202,333 -9.6% -3.8%   Nikkei 225 Daily Futures contract with Reset Date/26 719,646 35,982 -11.0% - DJIA Daily Futures contract with Reset Date/26 647,873 32,394 12.4% - DAX® Daily Futures contract with Reset Date/26 9,292 465 1.7% - FTSE 100 Daily Futures contract with Reset Date/26 7,508 375 116.1% - Gold ETF Daily Futures contract with Reset Date26 68,885 3,444 -66.3% - WTI ETF Futures contract with Reset Date26 81,682 4,084 19.9% - NASDAQ-100 Daily Futures contract with Reset Date26 825,939 41,297 78.9% - Russell2000 Daily Futures contract with Reset Date26 44,743 2,237 -38.4% - Silver ETF Daily Futures contract with Reset Date26 15,768 788 -74.6% - Platinum ETF Daily Futures contract with Reset Date26 4,532 227 -63.8% - Nikkei 225 Micro Daily Futures contract with Reset Date/26 472,731 23,637 -2.8% - Nikkei 225 Daily Futures contract with Reset Date/25 380,533 19,027 -24.5% -42.5% DJIA Daily Futures contract with Reset Date/25 156,947 7,847 -38.5% -86.2% DAX® Daily Futures contract with Reset Date/25 1,017 51 -66.3% -92.5% FTSE 100 Daily Futures contract with Reset Date/25 592 30 -52.7% -89.6% Gold ETF Daily Futures contract with Reset Date25 16,086 804 -68.3% -86.0% WTI ETF Futures contract with Reset Date25 13,738 687 -26.6% -66.8% NASDAQ-100 Daily Futures contract with Reset Date25 253,091 12,655 -18.1% -61.0% Russell2000 Daily Futures contract with Reset Date25 9,016 451 -77.2% -93.8% Silver ETF Daily Futures contract with Reset Date25 8,304 415 -62.2% -80.1% Platinum ETF Daily Futures contract with Reset Date25 2,851 143 -63.0% -73.3% Nikkei 225 Micro Daily Futures contract with Reset Date/25 305,855 15,293 -38.7% -21.0% ItemsNov 2025 Trading valueTotal DividendsTotal Interests   Click kabu 365 7,214,272,169,371 9,650 -40,333   Nikkei 225 Daily Futures contract with Reset Date/26 3,628,886,919,600 - -1,925 DJIA Daily Futures contract with Reset Date/26 308,977,112,430 886 -1,798 DAX® Daily Futures contract with Reset Date/26 22,180,933,200 - -4,881 FTSE 100 Daily Futures contract with Reset Date/26 7,303,031,600 3,454 -3,670 Gold ETF Daily Futures contract with Reset Date26 414,673,923,000 - -3,832 WTI ETF Futures contract with Reset Date26 24,537,272,800 - -192 NASDAQ-100 Daily Futures contract with Reset Date26 210,094,103,430 181 -955 Russell2000 Daily Futures contract with Reset Date26 11,174,116,820 304 -895 Silver ETF Daily Futures contract with Reset Date26 11,968,069,680 - -440 Platinum ETF Daily Futures contract with Reset Date26 9,894,262,400 - -1,326 Nikkei 225 Micro Daily Futures contract with Reset Date/26 238,315,988,106 - -183 Nikkei 225 Daily Futures contract with Reset Date/25 1,913,510,190,500 - -1,919 DJIA Daily Futures contract with Reset Date/25 74,884,122,110 886 -1,798 DAX® Daily Futures contract with Reset Date/25 2,425,850,100 - -4,881 FTSE 100 Daily Futures contract with Reset Date/25 575,305,600 3,454 -3,675 Gold ETF Daily Futures contract with Reset Date25 96,906,889,800 - -3,835 WTI ETF Futures contract with Reset Date25 4,131,016,600 - -192 NASDAQ-100 Daily Futures contract with Reset Date25 64,373,695,850 181 -955 Russell2000 Daily Futures contract with Reset Date25 2,251,114,880 304 -895 Silver ETF Daily Futures contract with Reset Date25 6,646,355,520 - -464 Platinum ETF Daily Futures contract with Reset Date25 6,735,487,500 - -1,439 Nikkei 225 Micro Daily Futures contract with Reset Date/25 153,826,407,845 - -183 (3) Interest Rate Futures contracts The trading volume of Interest Rate Futures contracts was 50,107 ( +13.9% MoM / -50.3% YoY ) and its average daily volume was 2,784 . See the TABLE 3 for the composition of the trading volume. [TABLE 3] ItemsNov 2025 Trading VolumeDaily AverageChange on Previous MonthYear on Year Change   Total of Interest Rate Futures contracts 50,107 2,784 13.9% -50.3%   Three-month TONA Futures 50,107 2,784 13.9% -50.3%   Options on Three-month TONA Futures - - - -   Put - - - - Call - - - - (4) Total all products Combined trading volume for all TFX products was 5,688,787 ( -56.6% YoY ) and its average daily trading volume was 284,721 .FX clearing transactions were delisted on September 30, 2025. ALL products excluding FX clearing transactions increased -12.6% month-on-month and -6.8% year-on-year.

Market Notice number (042) 01 December, 2025 provided constituents and weightings of all QSE indices effective December 1st, 2025. QE Index  Baladna Company (BLDN) will replace Barwa Real Estate Company (BRES) in the QE Index.  QE Al Rayan Islamic Index Aamal Company (AHCS) and Meeza QSTP (MEZA) will join the QE Al Rayan Islamic Index.  QE All Share Index & Sectors Al Mahhar Holding (MHAR) will join QE All Share Index and QE Consumer Goods and Services Sector Index.

ASIC has today released an update to the Internal Dispute Resolution (IDR) data reporting handbook to reflect recent legislative and regulatory changes in the Buy now, pay later (BNPL) and digital asset sectors. The updated handbook also includes a new product category for mutual risk products (MRPs), enhancing accuracy for firms reporting complaints about these products. ASIC is releasing this new handbook early, to allow firms sufficient time to make necessary changes to their reporting systems and processes. Financial firms should familiarise themselves with the changes now to ensure they are recording complaints in accordance with the updated product and issue numbers. IDR reporting is unchanged for the upcoming January to February 2026 submission window, which covers complaints open or received between 1 July and 31 December 2025. Firms will first report complaints using the updated handbook in the July to August 2026 submission window, which covers complaints open or received between 1 January and 30 June 2026. The updated handbook and an overview of changes is available from ASIC’s IDR data reporting page. To give legal effect to the updated handbook, ASIC will amend ASIC Corporations (Internal Dispute Resolution Data Reporting) Instrument 2022/205 prior to the commencement of the July to August 2026 submission window.

Bouali Sina Petrochemical Company (BSPC)’s executives joined Tehran Securities Exchange (TSE)’s opening bell ceremony on Sunday 30 November 2025. The ceremony, held in the presence of senior TSE officials and a group of market participants, provided an opportunity to review the company’s key achievements and outline its future strategic plans. Delivering the keynote address, Mr. Mohammad Javad Badri, BSPC’s Chief Executive Officer praised the TSE for the initiative and highlighted the company’s performance since its listing.  “Since BSPC’s listing at the capital market, the company has placed transparency and accountability at the heart of its operations,” he added. The CEO identified frequent regulatory changes and administrative interventions as major challenges facing capital market participants. He also emphasized: “Regulatory certainty is essential for long-term industrial planning and for removing barriers to development.” Reaffirming the company’s dedication to shareholder engagement, he stressed the importance of harnessing capital market instruments to drive future growth and operational expansion. Notably, BSPC was listed at TSE in November 2020 under the ticker symbol “BONA” and currently holds the eighth position by market capitalization among the 35 companies in the Chemical Products Industry, with a market value exceeding IRR 680 trillion. The company plays a significant role in Iran’s non-oil exports and is integrated into the broader value chain of the National Petrochemical Company, contributing to the country’s industrial and economic development. With an area of 36 hectares, BSPC is located in the Special Economic Zone of Bandar-e Emam, Khuzestan Province, northwest of the Persian Gulf. This complex is the third aromatic project in Iran’s petrochemical industry, the commissioning of which began in April 2001, and its production units were launched in 2004.