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

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

Click here to download Tehran Securities Exchange's weekly market snapshot.

The US venture capital (VC) funding landscape has demonstrated significant growth in deal value during the first seven months of 2025 compared to the same period in 2024, even as deal volume has experienced a decline. The total number of VC deals announced in the US fell by around 4% during January-July 2025 compared to January-July 2024. Despite that, the US has seen a remarkable year-on-year (YoY) increase of around 75% in total VC funding deal value during the same period, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “This stark contrast highlights the increasing value of individual deals, suggesting that investors are focusing on fewer, but more substantial opportunities. The US market has managed to maintain its robust funding environment, and this massive growth in value indicates a shift in investor sentiment, favoring high-potential startups that promise significant returns over a larger number of smaller deals.” An analysis of GlobalData’s Deals Database revealed that the US continues to dominate the global VC landscape, accounting for a substantial share of both deal volume and value. During the first seven months of 2025, the US represented nearly 30% of the global deal volume and an impressive 65% of the total deal value. Increased investor attention towards the US market is also evident from its performance compared to some of the other top global markets. For instance, China, while still a formidable player in the VC arena, has seen a decline in both deal volume and value, with reductions of around 1% and 38%, respectively, during January-July 2025 compared to January-July 2024. The UK, on the other hand, also faced challenges, with a YoY decline of 14% in VC deal volume and a 11% decline in value. Some of the notable VC funding deals announced in the US during January-July 2025 include $40 billion in funding for OpenAI, $3.5 billion secured by Anthropic, $3 billion raised by Infinite Reality, $2.5 billion secured by Anduril, and $2 billion secured by Thinking Machines Lab, among others. Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain

KEY POINTS  SET continues its ESG DNA project for the second year, providing foundational and strategic sustainability knowledge to employees across participating organizations.  The initiative highlights practical knowledge which enables organizations to effectively integrate ESG principles into their operations, supported by systematic progress tracking and evaluation tools. Since its launch in 2023, the project has engaged 402 organizations, with 189,782 employees enrolled in learning programs. In 2025, organizations achieving the training completion rate of over 70 percent of their workforce increased to 127, reflecting their earnest commitment to building the culture of sustainability. SET Senior Executive Vice President Soraphol Tulayasathien stated that the ESG DNA Project represents a groundbreaking sustainability education initiative in Thailand designed to promote environmental, social, and governance (ESG) among listed companies, public and private organizations, entrepreneurs, and suppliers. Now in its second year, the e-Learning platform continues to expand its reach, delivering comprehensive ESG knowledge catered to diverse levels of employees across participating organizations. To date, the program has attracted 402 organizations with 189,782 enrolled employees. The number of organizations achieving training completion rates of at least 70 percent of their workforce soared from 60 organizations in 2024 to 127 in 2025, bringing the two-year total to 187 organizations. This initiative stands as a testament to SET's commitment to advancing ESG adoption across Thailand's business landscape. “ESG is not merely a temporary trend. It has become fundamental “DNA” for capital market organizations. Employees at all levels are learning and embracing these ESG principles with a commitment to applying them directly to their work,” added Soraphol. The ESG DNA project has gained widespread participation through its expertly designed      e-Learning tailored to employees at all levels. With a selection of over 30 learning courses, the platform effectively meets the diverse needs of learners—from operational staff to executives. These courses cover all ESG dimensions, from greenhouse gas emissions management and responsible supply chain development to strategic ESG planning aligned with long-term organizational goals.  Courses are provided free of charge with real-time tracking and evaluation tools that enable systematic progress monitoring. More importantly, the initiative extends beyond participating organizations to suppliers, government agencies, and academic institutions to deliver ecosystem-wide sustainability impact. Therefore, this initiative practically serves as a “catalyst” for the transition toward sustainability among Thai organizations through comprehensive sustainability education targeting both participating organizations and broader stakeholders, creating momentum across industries and Thailand's capital market. Since its launch in August 2023, the project has attracted 402 organizations to date, consisting of 251 SET-listed companies, 61 mai-listed companies, 80 limited companies, five securities companies and asset management companies, and five government agencies and academic institutes. The initiative has generated combined cost savings of over THB 168 million (approx. USD 5.18 million) for participating organizations. For inquiries, please contact setsustainability@set.or.th. To learn more about the ESG DNA Project, please visit www.setsustainability.com.

The London Stock Exchange has become the first operator to be granted a PISCES Approval Notice (PAN) by the Financial Conduct Authority (FCA) for its Private Securities Market. The new secondary market will, for the first time, provide private companies with access to intermittent liquidity auctions leveraging the London Stock Exchange’s public markets infrastructure. When launched, this market will expand the options available to private companies and their shareholders, including employees, to access liquidity and provide investors with the opportunity to invest in the next generation of high-growth private companies. The London Stock Exchange has now published a Stock Exchange Notice, accompanied by its draft rule books for the Private Securities Market. The final form of the rules will be published and come into effect upon the launch of the new market. From launch, companies, investors and advisors will be able to begin their preparations for auction events through the London Stock Exchange’s Disclosure Portal. Companies will have the flexibility to set a timetable of events for their auction; and will be required to provide sufficient time for investors to review disclosure information and ask questions ahead of the auction.   Julia Hoggett, CEO, London Stock Exchange plc, said: “We are delighted to be the first venue operator to have been granted a PISCES Approval Notice by the FCA. Following several years of innovative development by the UK Government and regulators with active engagement from practitioners across the market, the London Stock Exchange has now taken a significant step towards the launch of our Private Securities Market later this year. “This new market demonstrates our commitment to the creation of a genuine funding continuum from the private to public markets so that businesses in the UK and around the world can be effectively supported across all stages of their growth. We look forward to welcoming the first private companies to utilise the market when they have completed their preparations and to expanding the options they will have to realise their ambitions.” Simon Walls, Executive Director of Markets, FCA, said: "We are delighted to announce the first PISCES operator has been approved, marking a major milestone in our drive to boost growth and unlock capital investment. “We are looking forward to seeing the first of many transactions, seeding a competitive market that gives greater investor access to exciting growth companies." Emma Reynolds, Economic Secretary to the Treasury, said:  "I am pleased to see the London Stock Exchange become the first operator to receive approval from the Financial Conduct Authority to run PISCES trading events. This represents the latest significant milestone for PISCES, and I look forward to seeing the first PISCES trading events.   "This government is committed to working with the regulators and business to enhance our capital markets offering, supporting economic growth, and putting more money in working people’s pockets as part of our Plan for Change." With a proportionate disclosure framework designed for professional and sophisticated investors, all existing shareholders of participating companies, including company employees, will be able to sell shares, with eligibility criteria for investors set in legislation. In its March 2025 Spring Statement, the UK Government announced that PISCES transactions will be exempt from stamp duty, reducing the cost and simplifying transactions for investors. Additionally, in May 2025, the UK Government confirmed it will permit existing EMI (Enterprise Management Incentive) and CSOP (Company Share Option Plan) options to be amended so that they can be sold on PISCES venues such as the Private Securities Market whilst retaining their tax efficient status. Through our Disclosure Portal private companies will have full control over the frequency of their auctions on the Private Securities Market and will be able to choose whether to open the auctions to all eligible investors or restrict access to a more limited group. This will enable private companies to evolve their shareholder base and control who can access their company disclosures, as well as set the range within which price-formation can occur. Eligible investors can register for open auctions and request access to permissioned auctions, as well as engage with companies on their disclosures through our Q&A facility. Banks, brokers, and other intermediaries can register with the London Stock Exchange as Registered Auction Agents (RAAs), a new type of member firm, that will be able to consider the eligibility of investors and place trades on behalf of investors. The same technology that underpins the London Stock Exchange’s public markets will be used to quickly and efficiently match buyers with sellers and settle transactions.  Read about the PISCES Approval Notice here: First PISCES operator gets greenlight in drive for growth Read the Stock Exchange Notice and the draft rule books here: 2025 London Stock Exchange notices Learn more about the new market here: The London Stock Exchange’s Private Securities Market

DMCC, the leading international business district that drives the flow of global trade through Dubai, has entered strategic partnership with Vermiculus. The MoU underlines DMCC's ambition to drive innovation and further cement Dubai's role as a global hub for technology and commerce, supporting a community of more than 26 000 companies. “Innovation is a driving force in reshaping the future of trade and finance. By signing this MoU with Vermiculus, we are laying the groundwork for collaboration that promotes knowledge exchange, technology adoption and new opportunities for our 26,000 companies. The MoU complements our existing partnerships by exploring fintech solutions that further enhance DMCC’s broader ecosystem. This is fully aligned with DMCC’s mission to create the infrastructure and environment for global businesses to thrive from Dubai,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC. Through the partnership, the two companies will explore collaboration in delivering world-class technology solutions for financial marketplace infrastructure. The parent company of The Dubai Gold and Commodities Exchange (DGCX) and the Dubai Commodities Clearing Corporation (DCCC), DMCC, is widening its technology footprint with the most modern microservices, AI-driven solutions from Vermiculus. “We see great opportunities for collaboration with DMCC’s ecosystem and are aiming to help DMCC in offering complex solutions in accordance with their unique requirements which others have struggled to fulfill. Their strong focus on AI-powered high-quality technology solutions aligns perfectly with our strategy. Extending our partnership with DGCX is a natural step, given our teams have a history of successful cooperation,” said Taraneh Derayati, CEO of Vermiculus. “At Vermiculus, our focus is on delivering cutting-edge technology that meets the mission-critical needs of exchanges and financial institutions worldwide. With over 25 years of experience working with some of the world’s largest exchanges, clearing houses and CSDs, our team combines deep expertise with innovation to ensure unmatched quality and reliability in every solution we provide.  Partnering with DMCC, one of the world’s most dynamic business districts, provides a unique opportunity to explore areas of mutual interest and growth,” comments Nils-Robert Persson, Founder and Chairman of Vermiculus.   Nils-Robert Persson, Chairman of Vermiculus, and Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC

Macquarie Bank (Macquarie) has joined BioCatch Trust™ Australia, the world’s first inter-bank, behaviour- and device-based, real-time fraud and scams intelligence-sharing network. Launched in November of 2024 with five inaugural members — Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Suncorp Bank (Norfina Limited), and Westpac — the network enables member banks to assess risk on the receiving end of transactions before any money leaves the sender’s account. In its first 10 months, Trust Australia evaluated $500 billion in total payments and saved customers at member banks millions of dollars in potential losses. The addition of Macquarie, Australia’s fifth-largest bank, further amplifies the power of the network as it collaborates to detect and prevent financial crime. “As global fraud and scam activity becomes more sophisticated, we’ve continued to invest in our digital security and tools,” Macquarie Bank Head of Client Protection David Sheehan said. “We know that security and trust are paramount for our customers, so we look forward to working with BioCatch Trust™ Australia to add another layer of security protection for Australians. “As new technology becomes available, customer vigilance is still a key part of scam- and fraud-prevention, and it’s always been our view that it’s important that a broad range of impacted sectors take a collaborative, multi-sector approach when tackling scams and fraud. We think Trust Australia is a great example of bank collaboration in action,” Sheehan said. “Joining the Trust network was a natural next step in our broader scam-prevention initiatives including real-time payment controls, behavioral biometrics, and our standalone two-factor authentication app, Macquarie Authenticator.” BioCatch Trust™ adds an additional layer of behavioural- and device-based protection against fraud and scams for customers at Macquarie and other member banks, by assessing in real time the potential risks associated with the accounts to which customers direct their domestic online payments within BioCatch Trust™ Australia. If the network identifies risks associated with a receiving account, BioCatch provides this intelligence to the sending bank in real time, allowing the sending institution to review the transaction before any money leaves the sender’s account. This helps financial institutions prevent those types of scams where the fraudster manipulates the victim outside of a digital banking session (many scams originate via an email, text message, phone call or social media post). BioCatch Trust™ accomplishes this while utilising proven pseudonymisation technology to help protect the identities of those customers within the BioCatch Trust™ network. “We’re proud to welcome Macquarie Bank to BioCatch Trust™ Australia,” BioCatch CEO Gadi Mazor said. “Its commitment to innovation and customer protection strengthens our shared mission to disrupt scam operations and protect Australians from financial harm. The addition of Macquarie means Trust Australia now protects more than 85% of the country’s online banking population.”  The strength of the BioCatch Trust™ Australia network improves with each new financial institution that joins. As more banks contribute account intelligence, the system grows smarter and more effective, offering deeper insights and broader coverage. This collective intelligence helps to protect against existing, unknown, and emerging threats, significantly enhancing fraud detection across the entire Australian banking ecosystem.

On 21 August, the FCA approved the London Stock Exchange to operate a PISCES platform, a new type of private stock market.  The platform will bring together buyers and sellers of shares in private companies to trade on an intermittent basis.   Breaking new ground with the world’s first regulated private stock market, PISCES (Private Intermittent Securities and Capital Exchange System) is a great example of industry, government and regulators working together to go further and faster on innovative reform. Simon Walls, executive director of markets at the FCA, said: 'We are delighted to announce the first PISCES operator has been approved, marking a major milestone in our drive to boost growth and unlock capital investment. ‘We are looking forward to seeing the first of many transactions, seeding a competitive market that gives greater investor access to exciting growth companies.’ Julia Hoggett, CEO at the London Stock Exchange plc, said:  'We are delighted to be the first venue operator to have been granted a PISCES Approval Notice by the FCA. Following several years of innovative development by the UK Government and regulators with active engagement from practitioners across the market, the London Stock Exchange has now taken a significant step towards the launch of our Private Securities Market later this year.   'This new market demonstrates our commitment to the creation of a genuine funding continuum from the private to public markets so that businesses in the UK and around the world can be effectively supported across all stages of their growth. We look forward to welcoming the first private companies to utilise the market when they have completed their preparations and to expanding the options they will have to realise their ambitions.'  Emma Reynolds, economic secretary to the Treasury, said: 'I am pleased to see the London Stock Exchange become the first operator to receive approval from the Financial Conduct Authority to run PISCES trading events. This represents the latest significant milestone for PISCES, and I look forward to seeing the first PISCES trading events.   'This government is committed to working with the regulators and business to enhance our capital markets offering, supporting economic growth, and putting more money in working people’s pockets as part of our Plan for Change.' Background The PISCES platform will be delivered through a sandbox, which allows the FCA to test the design before finalising a permanent regime in 2030. Trading systems could include periodic auctions, as well as occasional and time-limited periods of continuous trading. Specifically, PISCES uses a financial markets infrastructure (FMI) sandbox. This will be the second use of the FMI Sandbox powers after the Digital Securities Sandbox. The Treasury laid a Statutory InstrumentLink is external  before Parliament in May 2025, which finalised the legislative framework for PISCES. Firms wishing to run a PISCES platform have to apply to the FCA, and once approved are able to run intermittent trading events. The FCA published pre-application support and application support for firms interested in applying to be a PISCES operator. 

In a move defining the future of digital asset advisory and institutional crypto finance, Falconedge has officially launched as a strategic spin-off of Falcon Investment Management—a veteran firm ranked first in Europe in 2025 by HFM for hedge fund infrastructure, cryptocurrency regulatory hosting, and first-loss capital solutions. Falconedge enters the market with a bold, dual-pillar strategy: a forward-looking platform combining Bitcoin treasury advisory and hedge fund consulting. This unique blend is already resonating with sophisticated allocators and digital asset institutions. By leveraging its deep roots in traditional finance to build a robust capital base for Bitcoin acquisition, Falconedge presents a compelling proposition at the intersection of legacy finance and digital innovation. At the heart of Falconedge's mission is a deep conviction in Bitcoin's long-term financial significance. The firm has adopted Bitcoin as its primary treasury reserve asset—a strategic stance that reflects strong belief in Bitcoin as a superior store of value, a resilient hedge against inflation, and a structural source of long-term alpha. Strong Start Ahead of Public Listing Strong Start Ahead of Public Listing Falconedge has successfully completed its Pre-IPO round and is well positioned for its September public offering. Almost all of the IPO proceeds dedicated to building its Bitcoin treasury. This capital strategy aims to reinforce Falconedge's balance sheet, accelerate BTC accumulation, and enhance its institutional credibility as it scales globally. A Legacy Rooted in the Crypto Ecosystem While newly established, Falconedge inherits a powerful legacy from Falcon Investment Management, one of the UK's pioneers in regulated crypto investing: 2018: Among the first to launch a regulated crypto fund in the UKPeak AUM: Managed over $850 million in crypto assets2021: Launched one of the earliest and most successful DeFi-focused crypto funds, which remains a top performer in its class With a proven team, a bold vision, and a distinctive model at the nexus of Bitcoin and institutional finance, Falconedge is poised to become a leading force in the evolution of asset management. "We're proud to launch Falconedge as a next-generation platform that puts Bitcoin at the heart of institutional treasury strategy," said Roy Kashi, CEO of Falconedge. "This pre-IPO raise positions us to accelerate growth and deepen our impact in digital asset finance."

Moscow Exchange (MOEX) today announces its financial results based on summary financial statements prepared in accordance with International Financial Reporting Standards (IFRS) for Q2 2025. Unless stated otherwise, all figures below refer to performance in Q2 2025 and all comparisons are with the corresponding period last year. KEY FINANCIAL HIGHLIGHTS FOR Q2 2025 Fee and commission (F&C) income amounted to RUB 17.8 bln, driven by activity of clients and issuers as well as the launch of new products and services. Net interest income (NII) came at RUB 14.3 bln. The F&C share of operating income was 56% Operating expenses declined by 2.1%. Cost-to-income ratio stood at 37.9%. Net profit amounted to RUB 15.1 bln. KEY BUSINESS & CORPORATE HIGHLIGHTS FOR Q2 2025 10 new Russian-law ETFs on bonds, equities, money market instruments and precious metals began trading on MOEX. Seven new contracts were launched on the Derivatives Market, including futures and options on commodities, stocks and global assets. Digital Habits, an IT developer, raised RUB 900 mln via MOEX Start as the pre-IPO platform continues to develop. OZON pharmaceuticals successfully completed its RUB 2.8 bln SPO on MOEX. BookBuilder, our proprietary digital platform that facilitates bond placements, processed 80%+ of corporate primary market volumes in Q2 2025. MOEX introduced 14 indices, including two that track new topics: crypto-assets (MOEXBTC) and climatic impact (ICLIMATE). Responding to client activity, MOEX began weekend calculation of the MOEX Index (IMOEX2), weekend trading in Russian-law ETFs and admitted more stocks. EVENTS OCCURRING AFTER THE REPORTING PERIOD Another three Russian-law ETFs on equities, money market instruments and precious metals started trading on MOEX. Eight new futures contracts were launched on the Derivatives Market: four on global assets and benchmarks plus four on Russian equities. MOEX introduced Value Building Index (MVBI), tracking equities that emphasize shareholder value creation. Finuslugi added 4th authored mutual fund, building on a healthy demand that has already brought into this product line AUM of some RUB 150 mln in the four months since launch. Derivatives Market became available for weekend trading. 37.8 million retail clients had brokerage accounts on MOEX at the end of July. Over 3.6 million retail clients have traded MOEX markets every month since the beginning of Q2 2025. Moscow Exchange completed dividend payments for 2024, distributing a total amount of RUB 59.4 bln (DPS of RUB 26.11), or 75% of 2024 IFRS net profit. FINANCIAL HIGHLIGHTS (RUB million)   Q2 2025 Q2 2024 Q1 2025 Operating Income 32 214.0 36 806.7 28 588.9 · Fee and commission income 17 847.5 15 538.8 18 482.1 · Net interest and other finance income (NII)[1] 14 257.0 21 227.1 10 063.3 Core NII - NII less realized gains or losses on investment portfolio revaluation[2] 14 251.1 21 280.0 10 487.3 · Other operating income 109.5 40.8 43.5 Operating Expenses 12 200.7 12 464.3 12 868.4 · Personnel expenses 5 496.2 7 653.4 6 841.9 · D&A and IT maintenance 2 610.7 1 764.8 2 350.4 · Advertising and marketing costs 1 953.3 1 389.2 1 987.5 · Remaining general and administrative expenses 2 140.5 1 656.9 1 688.6 Profit before other operating expenses and tax 20 013.3 24 342.4 15 720.5 Movement in allowance for expected credit losses (ECLs) 197.6 -146.9 1 760.8 Other impairment and provisions -0.9 0.0 0.0 Profit before tax 20 210.0 24 195.5 17 481.3 Income tax -5 153.8 -4 700.6 -4 502.0 Net Profit 15 056.2 19 494.9 12 979.3 Basic earnings per share. RUB 6.60 8.62 5.72         Net Profit 15 056.2 19 494.9 12 979.3 · Movements in allowance for ECLs -197.6 146.9 -1 760.8 · Other impairment and provisions 0.9 0.0 0.0 · Deferred taxes related to movements in allowance for ECLs and other impairment & provisions 49.2 -29.4 440.2 Adjusted Net Profit 14 908.7 19 612.4 11 658.7         EBITDA 22 085.5 25 486.9 19 211.8 · Movements in allowance for ECLs -197.6 146.9 -1 760.8 · Other impairment and provisions 0.9 0.0 0.0 Adjusted EBITDA 21 888.8 25 633.8 17 451.0 Adjusted EBITDA margin 67.9% 69.6% 61.0% OPEX BREAKDOWN (RUB million)   Q2 2025 Q2 2024 Q1 2025 General and Administrative Expenses 6 704.5 4 810.9 6 026.5 · Advertising and marketing costs 1 953.3 1 389.2 1 987.5 · Amortisation of intangible assets 1 374.7 1 038.8 1 312.9 · Equipment and intangible assets maintenance 735.2 473.4 619.9 · Depreciation of property and equipment 500.8 252.6 417.6 · Taxes, other than income tax 468.9 293.6 343.1 · Professional services 374.3 308.7 375.9 · Market makers fees 311.7 215.6 295.8 · Agent fees 292.9 264.0 234.4 · Rent and office maintenance 145.1 85.4 97.8 · Loss on disposal of property, equipment and intangible assets 126.2 0.8 0.2 · Registrar and foreign depository services 114.3 170.9 119.5 · Communication services 103.3 27.9 17.8 · Other 68.6 32.4 98.9 · Information services 57.4 182.1 54.0 · Business trip expenses 38.4 25.0 11.3 · Security expenses 18.7 11.9 21.3 · Charity 11.5 30.1 11.1 · Transport expenses 9.2 8.5 7.5 Personnel expenses 5 496.2 7 653.4 6 841.9 · Employees benefits except for share-based payments 4 331.3 3 659.9 4 622.8 · Payroll related taxes 934.2 1 184.2 1 306.2 · Share-based payment expense on equity settled instruments 205.3 219.7 -0.7 · Share-based payment expense on cash settled instruments 25.4 2 589.6 913.6         Total operating expenses 12 200.7 12 464.3 12 868.4         Headcount, employees e-o-p 3 522 2 828 3 433 OPEX for 2Q’25 decreased by 2.1% YoY, mainly explained by the reduction in personnel expenses. The 28.2% YoY decline in personnel expenses is due to the high base effect of LTIP provisions in 2Q’24 and an unwinding of FY’24 bonus accruals. The employee headcount added 24.5% YoY and 2.6% QoQ. New hires are related to the overall strengthening of the IT function and strategic projects. Advertising and marketing costs grew by 40.6% YoY to stimulate further growth of the Finuslugi client base. D&A and IT maintenance grew 47.9% YoY, while the D&A alone added 45.2% YoY. IT maintenance costs increased by 55.3% due to the implementation of the software & hardware renewal program. The increase in taxes, other than income tax, is related to VAT on marketing, IT maintenance, and consulting services. PERFORMANCE OF KEY BUSINESS LINES   Q2 2025 Q2 2024 Q1 2025 Equities Market Fee and commission income, RUB mln 2,794.6 2,392.7 3,728.3 Trading volumes, RUB bln 9,246.4 7,729.5 12,305.1 Bond Market Fee and commission income, RUB mln 1,597.9 899.1 1,542.5 Trading volumes (ex. overnight bonds), RUB bln 8,261.5 5,033.3 7,751.7 Money Market Fee and commission income, RUB mln 4,614.0 3,820.7 4,445.9 Trading volumes, RUB bln 303,213.0 247,690.0 300,484.5 Derivatives Market Fee and commission income, RUB mln 2,731.7 2,244.9 2,869.7 Trading volumes, RUB bln 31,210.5 23,204.1 33,707.0 Other markets Fee and commission income, RUB mln 873.6 1,785.3 885.0 Trading volumes, RUB bln 33,803.0 77,903.2 31,139.3 Depository and Settlement Services Fee and commission income, RUB mln 2,371.0 2,541.4 2,523.1 Average assets under custody, RUB bln 80,829.5 81,072.3 81,886.4 Other fee and commission income (IT Services, Listing, Marketplace and other) Information services, RUB mln 171.9 336.3 192.7 Sale of software and tech. services, RUB mln 469.5 439.0 454.1 Listing and other services, RUB mln 281.4 195.3 278.4 Financial marketplace services, RUB mln 1,642.6 656.3 1,313.8 Other fee income, RUB mln 299.3 227.8 248.6 Net interest and other finance income Net interest and other finance income, RUB mln 14,257.0 21,227.1 10,063.3 Investment portfolio, RUB bln 2,690.7 3,006.9 2,977.2 The total market capitalization of the Equities Market at the end of the second quarter of 2025 was RUB 52.1 trln. Fees from the Equities Market grew by 16.8% on the back of a similar increase in trading volumes, which gained 19.6%. Over 3.6 million retail clients were active every month during the quarter. Fees and commissions from the Bond Market grew 77.7% on the back of an increase in trading volumes (excluding overnight bonds) of 64.1%, which is explained by the activity at both primary and secondary markets. Primary market trading volumes (excluding overnight bonds) went up 64.0%, driven by fixed-coupon bonds. Secondary trading volumes surged by 64.3%: OFZ volumes were up 85.5%, while other bonds’ volumes increased by 44.8%. Money Market fee income improved by 20.8% while trading volumes added 22.4%. The increase in the share of value-added CCP repo (including GCC) in the volumes’ mix supported the effective fee, yet the decrease in average on-exchange repo terms affected negatively. These two factors virtually netted each other out. The strong accumulated position in Russian-law money market ETFs supports the GCC repo segment. Derivatives Market fees grew by 21.7%, while trading volumes added 34.5%. The volumes’ mix shifted away from commodities and towards index contracts, which had a negative effect on the effective fee. Specifically, index derivatives’ volumes surged by 202.0%. The volumes of single-stock contracts improved by 38.9%. FX derivative contracts increased by 23.9% in trading volumes. Interest rates and commodities derivative contracts increased by 6.2% and 7.0% respectively. Fee income from the Depository and Settlement Services was down 6.7%. Average value of assets under custody decreased by 0.3%. The discrepancy between dynamics of fee income and assets on deposit is the result of business lines beyond safekeeping, primarily clearing and collateral management services, which reflect repo operations at the NSD. The latter demonstrated negative financial performance, which was only partially compensated by the increase in safekeeping fee income. Information sales decreased by 48.9%. Sales of software and technical services were up by 6.9%. Listing and other services increased by 44.1% as activity on the primary bond market was strong during the quarter. Finuslugi revenues improved by 150.3%. The cash position[3] at the end of Q2 2025 was RUB 188 bln. The company had no debt as of the end of the quarter. Capex for the quarter was RUB 4.13 bln, mostly spent on purchases of software and equipment as well as software development. Moscow Exchange’s summary consolidated IFRS financial statements for Q2 2025 are available in the Investor Relations section of the company's web site. Read more on the Moscow Exchange: https://www.moex.com/n93074     [1] Calculated as the sum of interest income calculated using the effective interest method, other interest income, gains/losses on FVTPL, gains/losses on FVTOCI, foreign currencies & precious metals gains less losses minus interest expense. [2] Calculated as the sum of interest income calculated using the effective interest method, other interest income, gains/losses on FVTPL, foreign currencies & precious metals gains less losses less interest expense (compared to net interest and other finance income, excludes gains/losses on FVTOCI). [3] Cash position is calculated as the sum of Cash and cash equivalents, Financial assets at fair value through profit and loss, Due from financial institutions, Financial assets at fair value though other comprehensive income, Investment financial assets at amortised cost, Current tax prepayments and Other financial assets less Balances of market participants, Overnight bank loans, Distributions payable to holders of securities, Margin account, Liabilities related to assets held for sale, Current tax payables and Other financial liabilities. Read more on the Moscow Exchange: https://www.moex.com/n93074

Distinguished guests, ladies and gentlemen, good morning. It is my great privilege to address you at this inaugural Hong Kong Bar Association-World Justice Project Conference. Today, we are united by a solemn mission – to champion the rule of law and justice – pillars upon which the global reputation and vitality of Hong Kong’s capital markets rest. The Securities and Futures Commission (SFC) stands unwaveringly as a guardian of this mission, ensuring our markets function transparently, fairly, and with unassailable integrity.  As Chairman of the SFC, I speak not only as a financial regulator but also as a steadfast advocate for the rule of law, which is the indispensable foundation of market integrity and Hong Kong’s enduring global competitiveness. Effective financial regulation is more than oversight; it is an essential pillar of our rule of law ecosystem. The SFC embraces its weighty responsibility to uphold justice within our financial markets, to strengthen investor trust and market resilience.  Today, I will focus on three critical points: first, the paramount importance of the rule of law and market integrity to Hong Kong’s stature as a premier international financial centre (IFC); second, the robust enforcement strategies the SFC undertakes, particularly our cross-agency collaboration to uphold market integrity; and third, the vital necessity of misconduct prevention through superior governance and investor education. Rule of Law: Bedrock of Hong Kong’s International Financial Centre Status As we all know, the rule of law is not merely one factor among many – it is the nonnegotiable foundation enabling Hong Kong’s success as a global financial hub. Complemented by an open economy, a business-friendly environment, and globally aligned regulatory frameworks, Hong Kong’s rule of law remains its ace card.  The 2024 World Justice Project Rule of Law Index recognises Hong Kong’s excellence, especially in “Absence of Corruption”, where we rank in the world’s top 10 with continuous year-on-year improvement. This is a testament to Hong Kong’s steadfast commitment to anticorruption and to the integrity that underpins our vibrant economy. Click here for full details.

CFTC's Weekly Swaps Report has been updated, and is now available: http://www.cftc.gov/MarketReports/SwapsReports/index.htm.Additional information on the Weekly Swaps Report. Archive Explanatory Notes Swaps Report Data Dictionary Release Schedule Released: Weekly on Mondays at 3:30 p.m.

On August 20, 2025, the SEC approved a FINRA rule change to, among other things, increase the opportunity for public arbitrators who are not qualified to serve as chairpersons to be selected for the arbitrators list that is sent to the parties in certain disputes that have a three-arbitrator panel.For more information, please see the Regulatory Circulars below:MIAX Options Exchange Regulatory Circular 2025-60MIAX Pearl Options Exchange Regulatory Circular 2025-62MIAX Emerald Options Exchange Regulatory Circular 2025-59MIAX Pearl Equities Exchange Regulatory Circular 2025-08MIAX Sapphire Options Exchange Regulatory Circular 2025-62.

The Securities and Exchange Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will decrease from $153.10 per million dollars to $138.10 per million dollars, effective October 1. The new fee rate will be applicable to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and specified tender offers under Section 14(g) of the Securities Exchange Act of 1934. The securities laws require the Commission to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933, which also adjusts the annual fee rates under Sections 13(e) and 14(g) of the Securities Exchange Act of 1934 as well as Rule 24f-2 under the Investment Company Act of 1940. The Commission must set rates for the fees paid under Section 6(b) to levels that the Commission projects will generate collections equal to annual statutory target amounts. The Commission’s projections are calculated using a methodology developed in consultation with the Congressional Budget Office and the Office of Management and Budget. The Commission determined the statutory target amount for fiscal year 2026 to be $887,800,554 by adjusting the fiscal year 2025 target collection amount of $864,721,147 for the rate of inflation. The Commission will issue further notices as appropriate to keep the public informed of developments relating to fees. Resources SEC Order

CalPERS active and retired members are invited to attend a Candidate Forum for the CalPERS Board of Administration Member-at-Large election on Wednesday, September 3, 2025. The election is for two Member-at-Large positions on the CalPERS Board of Administration that make important decisions affecting members’ benefits.   The 13-member CalPERS Board of Administration sets policy for retirement and health benefits on behalf of California public employers, and their active and retired employees. The board also oversees asset allocation of the pension fund's investments. Under the California Constitution, the CalPERS Board has exclusive authority to administer the CalPERS Pension Fund. Key Details: Date: Wednesday, September 3, 2025 Time: 1:00 p.m. – 2:30 p.m. Location: CalPERS Headquarters, 400 Q Street Sacramento, CA 95811 Lincoln Plaza North - Feckner Auditorium The forum will also be livestreamed on the Candidate Forum Webcast. Holding to tradition, the forum will be moderated by the League of Women Voters who encourage CalPERS members to submit questions for the candidates by email in advance to forums@lwvsacramento.org. Questions will also be taken live during the forum, but those received in advance will have priority. All questions will be reviewed to avoid redundancy and represent a broad range of topics. The candidates invited to speak at the forum are: Position A: Steve Mermell, retired city manager, City of Pasadena Dominick Bei, fire captain, City of Santa Monica Fire Department David Miller (incumbent), senior environmental scientist specialist, Department of Toxic Substances Control Position B Sam Hasan Akkad, retired senior bridge engineer, Department of Transportation Troy Johnson, senior administrative assistant, Sweetwater Union High School District Jose Luis Pacheco, (incumbent), SharePoint developer/administrator, San Jose Evergreen Community College District   Ballots for the election will be mailed August 29 and votes must be received by September 29. All eligible CalPERS members will be able to vote using one of three convenient voting methods: by mail, by phone, or online.   Members who do not receive ballots by September 5 should call (877) 610-8637 to ask for a replacement ballot. The newly elected board members will begin their terms on January 16, 2026. Information on the upcoming board election and resources for members is available at www.calpers.ca.gov/boardelections.  

In addition to the announcement about the planned changes in the Securities and FX markets system on September 22, 2025, we would like to inform you about the planned changes to the structure of trading reports for the Securities market: Possible values of the OrdTypeCode field (Order type identifier) are expanded as follows: NLWW - Weighted average price limit orders (IOC and FOK orders), NLPW - Weighted average price limit orders, NMW - Weighted average price limit orders marked as "market-maker order", NLEW - Weighted average price limit orders (Closing auction), NPMW - Weighted average price limit orders marked as "Price maintenance" (stabilization order). Updated specifications for report formats are available on the MOEX website: https://fs.moex.com/files/13900. Schemas and styles for printed report forms are available on the MOEX FTP server: https://ftp.moex.com/pub/Reports/Equities. Read more on the Moscow Exchange: https://www.moex.com/n93063

Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) and its subsidiaries will be closed on the following dates:  Date Public Holiday   Will Resume Operations on 1 September 2025 (Monday) Replacement public holiday for National Day, which falls on  31 August 2025, Sunday 2 September 2025  (Tuesday) 5 September 2025  (Friday) Birthday of Prophet Muhammad 8 September 2025  (Monday) 15 September 2025 (Monday) Additional public holiday in conjunction with the Malaysia Day celebration 17 September 2025 (Wednesday) 16 September 2025 (Tuesday) Malaysia Day Note: Nonetheless, Bursa Gold Dinar primary marketplace and Bursa Suq Al-Sila’ will remain open for trading during the public holidays.

The Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo) have extended the timelines for implementing climate reporting (including external assurance) requirements, to support listed companies and large non-listed companies (Large NLCos) in developing reporting capabilities.  2          All listed companies will continue to report Scope 1 and 2 greenhouse gas (GHG) emissions from the financial year (FY) commencing on or after 1 January 2025, while Straits Times Index (STI) constituents will continue to lead efforts to implement other International Sustainability Standards Board-based (ISSB-based) climate-related disclosures (CRD) from FY2025 and Scope 3 GHG emissions from FY2026. 3       The extension of timelines takes into account the uncertain global economic landscape, as well as feedback to take into greater consideration the varying levels of resources and readiness in climate reporting. In particular, the Singapore Business Federation provided feedback that smaller listed companies need more time to be fully ready for ISSB-based CRD[1]. The time extension would allow them to build up data collection processes and learn from larger companies who have started to produce ISSB-based CRD. 4             With the updated requirements, companies will be better able to balance compliance costs with developing climate reporting capabilities, which are required for the longer term to maintain their place in global supply chains. Companies should also continue to align their trajectory with Singapore’s net-zero target by 2050.  Updated climate reporting requirements with immediate effect Listed Companies 5       The approach for listed companies, which takes immediate effect, is:       a.   A three-tier structure to phase reporting obligations based on market capitalisation:            i.   Straits Times Index (STI) constituents;           ii.  Non-STI constituent listed companies with a market capitalisation of $1 billion and above; and          iii.  Non-STI constituent listed companies with a market capitalisation of less than $1 billion.      b.   Scope 1 and 2 GHG emissions reporting will remain mandatory for all listed companies from FY2025.      c.   Scope 3 GHG emissions reporting will remain mandatory for STI constituent[2] listed companies from FY2026. For other non-STI constituent listed companies, Scope 3 GHG emissions reporting will be voluntary until further notice.       d.   Other ISSB-based CRD (beyond Scope 1, 2 and 3 GHG emissions)[3] will remain mandatory for STI constituent listed companies from FY2025. Non-STI constituent listed companies with a market capitalisation of $1 billion and above will be required to report other ISSB-based CRD from FY2028[4]. Non-STI constituent listed companies with a market capitalisation of less than $1 billion will follow from FY2030.       e.   External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2029 for all listed companies. 6       The updated requirements for listed companies are summarised in Table 1 below.           Table 1 – Summary of updated climate reporting requirements for listed companies (updates are indicated in bold font) Mandatory requirements Original timelineRevised timeline All listed companiesSTI constituentsNon-STI constituent listed companies ≥$1B market capNon-STI constituent listed companies <$1B market cap  Scope 1 and 2 GHG emissions FY2025 FY2025 Other ISSB-based CRD FY2025 FY2028 FY2030 Scope 3 GHG emissions FY2026[5] FY2026 Voluntary Voluntary External limited assurance for Scope 1 and 2 GHG emissions FY2027 FY2029 7          Scope 1 and 2 GHG emissions reporting remains mandatory from FY2025 for all listed companies as these are key information in tracking companies’ decarbonisation progress. Mandatory requirements for ISSB-based CRD also remain in effect for STI constituents, with Scope 3 GHG emissions reporting to be mandatory from FY2026. This is as STI constituents have demonstrated a higher degree of readiness and capabilities for such disclosures. All listed companies are strongly encouraged to continue strengthening their climate reporting capabilities and demonstrate progress towards incorporating the climate-relevant provisions from the ISSB Standards. Large NLCos 8         The approach for large NLCos is updated accordingly: ISSB-based CRD (including Scope 1 and 2 GHG emissions) are deferred to FY2030.   Scope 3 GHG emissions reporting remains voluntary until further notice. External limited assurance for Scope 1 and 2 GHG emissions is deferred to FY2032.  9       These updated requirements are summarised in Table 2. Table 2 – Summary of updated climate reporting requirements for large NLCos (updates are indicated in bold font)    Mandatory requirements Original timelineRevised timeline Large NLCos (Annual revenue ≥$1B and total assets ≥ $0.5B)   Scope 1 and 2 GHG emissions FY2027 FY2030 Other ISSB-based CRD  Scope 3 GHG emissions Voluntary  (No earlier than FY2029) Voluntary External limited assurance for Scope 1 and 2 GHG emissions FY2029 FY2032 10      As Large NLCos will be starting their climate reporting journey later than listed companies, they will now have more time to build up their climate reporting capabilities.  Continued capability development 11     Companies can tap on the Sustainability Reporting Grant (SRG) by the Singapore Economic Development Board (EDB) and Enterprise Singapore (EnterpriseSG) to prepare for Other ISSB-based CRD before mandatory compliance sets in. Application deadlines for the SRG have been updated in view of these updated requirements[6].  12       “Sustainability reporting is a crucial tool for companies to support their sustainability strategy and for accountability to their stakeholders. Our differentiated implementation approach provides companies who are less ready with some relief in the near term so that they can build up capabilities for the future, while requiring companies who are more ready to progress with their reporting. This reflects our commitment to supporting companies through current challenges while maintaining Singapore's momentum in climate action, paving the way for more meaningful and higher quality climate-related disclosures in the long run,” said Mrs Chia-Tern Huey Min, ACRA’s Chief Executive. 13       “High-quality climate-related disclosures are necessary but challenging to produce. We are taking a more targeted and proportionate approach – large companies like STI constituent listed companies have more resources and should take the lead. Other companies may require more time which is why we are extending some timelines and continuing with capability building efforts. We will however retain the start-date for mandatory Scope 1 and 2 GHG emissions disclosure as this information is more circumscribed. In making these disclosures, companies will also learn and can prepare for other aspects of reporting that will be mandatory in future,” said Mr Tan Boon Gin, CEO of SGX RegCo.  [1]SBF calls for extension of compliance deadline of International Sustainability Standards Board (ISSB)-based climate-related disclosure for smaller listed companies [2] The requirement applies if a company is an STI constituent on 30 June 2025, even if it ceases to be an STI constituent subsequently. [3] Other ISSB-based CRD refers to information on how companies manage climate-related risks and opportunities through their governance, strategy, and risk management, along with the key metrics and targets they use to measure progress. [4] The requirement applies if a company has a market capitalisation of S$1 billion and above as at close of market on 30 June 2025, in which case the report is to be prepared from FY2028. If a company is listed after 30 June 2025 with a market capitalisation of S$1 billion and above as at close of market on its listing date, the requirement also applies. In this case, the report is to be prepared for the financial year that is the later of: (i) FY2028 or (ii) its first full financial year after listing. In all cases, the requirement applies even if a company’s market capitalisation falls below S$1 billion subsequently. [5] SGX RegCo announced in September 2024 that it would review listed companies’ experience and readiness before establishing the implementation roadmap for reporting Scope 3 GHG emissions.  [6] Refer to EDB and EnterpriseSG’s webpages on the Sustainability Reporting Grant for more details.  Climate reporting and assurance roadmap in Singapore

The criminal trial of the insider dealing prosecution brought by the Securities and Futures Commission (SFC) against businessman Mr Wong Pak Ming is preliminarily fixed to take place from 20 November 2025 to 12 December 2025 after he pleaded not guilty to the charge against him today at the Eastern Magistrates’ Court (Note 1). The Court adjourned the case to 24 October 2025 for a pre-trial review. Wong is charged with the offence of insider dealing involving the shares of Transmit Entertainment Limited (formerly known as Pegasus Entertainment Holdings Limited) (Pegasus). Specifically, he allegedly counselled or procured another person to deal in the shares of Pegasus around 25 August 2017 to 17 October 2017, while he was the chairman and the controlling shareholder of Pegasus and having information which he knew was inside information in relation to Pegasus. Wong’s bail was extended pending the next hearing on the following conditions: (i) cash bail of $200,000; (ii) he shall reside at the home address provided and inform the Police prior to any change of residence; and (iii) he shall inform the SFC 24 hours prior to leaving Hong Kong. Note: Please see the SFC’s press releases dated 27 February 2025, 27 March 2025, 25 April 2025 and 5 June 2025.