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The World Federation Of Exchanges Launches The Exchange Manifesto To Champion Exchanges As Drivers Of Prosperity

The World Federation of Exchanges (WFE), the global industry association for exchanges and clearing houses, has launched an Exchange Manifesto, codifying the unique and irreplaceable value exchange groups bring to society at large.As new governments roll out their policies, the WFE’s Manifesto calls attention to the essential role that exchanges play in powering growth, financial inclusion, and even systemic stability. It sets out ten core contributions exchanges make to the countries they serve.The 10 pillars of the Exchange Manifesto: Give people a path to financial security, via inflation-beating shares - They complete their offering with other products, such as fixed income. Help companies – new and old, large or SME – to prosper - Listing is a platform for future funding, hiring and marketing – not just cash today. Provide a clear signal on the health of a country - There is a mutually positive relationship with GDP increases.  By supporting growth, contribute indirectly to tax revenues - Also, financial services, with exchanges at the core, is a value-added industry. Channel funds in the necessary scale to strategic sectors (defence, medicine) - Transitionals and new sectors benefit too (digitilisation, AI).  Form the foundation for other financial markets - Exchanges have a ‘halo’ effect, that makes other financial markets more credible.  Attract international investment - The profile and integrity of organised markets brings in foreign investors. Underpin insurance - Insurers need to invest in growth and value assets and manage asset-price risk. Promote public engagement - Access to capital markets and data reinforces social inclusion. Ensure system-wide soundness and resilience - This is funding and investment, without credit crunches. The WFE is urging policymakers and regulators to defend and strengthen public markets by recognising their strengths, promoting their benefits, and incentivising their use. Nandini Sukumar, CEO of the WFE, said, “With new governments taking office around the world, it is timely to recall the importance of these market infrastructures, together with derivatives exchanges, and how they serve the economy. With their vitality under threat, regulators must take heed of what is at stake if we allow public markets to continue to decline, we risk losing the most transparent, resilient, and inclusive form of finance we have.”The full paper can be read here.

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Embracing Innovation - Federal Reserve Vice Chair for Supervision Michelle W. Bowman, At the Wyoming Blockchain Symposium 2025, Teton Village, Wyoming

Good afternoon and thank you to the organizers of the 2025 Wyoming Blockchain Symposium for inviting me to speak to you today.1 It is an honor to be included in this year's event, which is being held at a critical moment for American leadership in the digital asset space. We are at the beginning of what appears to be a seismic shift in the way we think about money, value, and the fabric of our financial system. This shift is not just about incremental changes or tweaks to the existing system. What we are witnessing has the potential to fundamentally transform the way we live, work, and interact in society. It is inspiring to be together with all of you, as thought leaders engaged in developing technologies that could help shape the financial system in the future. You don't need a tech background to appreciate the opportunity that blockchain provides to the financial system. Financial services innovation drives faster, safer, cheaper, and more customized products that more efficiently meet the needs of consumers and businesses. Digital processes like wire transfers and ACH disrupted the need to move large amounts of physical currency and other hard assets, making the system more efficient and safer. Through technology, there is opportunity to transform how we think about transferring assets. Throughout recent history, whether previous transformations involved industrialization, communications, or the internet, each of these advances had a profound and lasting impact on our society. While the future is unknown and unknowable, I expect we will look back at some point to consider the impact of blockchain, AI, and quantum computing and marvel at the transformation of everyday business processes. Time will tell, but the opportunities and possibilities that lie ahead may be profound. Of course, you know better than most that bank regulators approach technology and periods of change with caution and skepticism, concerned about rapid growth, new business models, greater interconnectedness and interdependence, often focusing only on the risks. But risks may be offset or at least determined to be manageable when we recognize and consider the potentially extensive benefits of new technology. Today, I'd like to address the Federal Reserve's approach to thinking about technology and tools like blockchain in context of bank supervision, including recent developments, the cost of supervisory focus on "reputational risk," and principles for a tailored regulatory framework that accommodates technology. Reframing the Regulatory MindsetBank regulators work to promote safety and soundness in the financial system through regulation and supervisory practices. Our goal is not just a safe and sound banking system, but one that also serves its intended purpose of supporting consumers, businesses, and communities, and fostering economic growth. To accomplish this goal, regulators strive to strike a balance between managing risks that threaten safety and soundness, while also creating an environment that allows new technologies to take root and grow. Innovation outside the banking system often complements the development and use of technology within the banking system, and often far outpaces that growth. As you're all aware, many groundbreaking tech innovations have been pioneered by developers outside of the traditional banking system. Developments in the Banking SystemWe are seeing a number of promising developments in the banking and financial system, and I'll start with tokenization. While progress on tokenization is moving ahead, it's helpful to identify and understand the problem that it is intended to solve. One clear friction is in the transfer of asset ownership, which includes both completing the asset transfer—which may involve re-registering securities, or transferring physical assets—and coordinating the timing of the purchase and sale. Asset transfer frameworks are designed to minimize the risk of transaction failures, and have historically relied on escrow agents and manual processes. Tokenization has the potential to facilitate faster ownership transfer, mitigating some of these well-known risks and potentially lowering costs in the process. Tokenized assets enable a transferor to pass title without changing a custodian or moving any physical security or asset. Many banks and international organizations have begun projects to develop this technology, but we have not yet seen broad adoption. It is possible that we could see a "tipping point" where the processes themselves are well-established, and legal frameworks have been updated to permit a wider range of activities relying on the new technology, and tokenized asset transfers become more of a market standard. There are other potential advantages to tokenization, including expanding access to capital markets and facilitating near real-time payments. The speed and cost of wholesale payments, especially internationally, is a longstanding problem that tokenization could help to address. Banks of all sizes, including community banks, can benefit from efficiency gains that flow from asset tokenization. New technology and processes can open the door to direct, faster, and lower cost payments. While tokenization may be part of the solution to a number of known frictions in the banking system, the blockchain technology that it relies upon has already changed how banks seek to engage with their customers. For example, while digital assets have been considered to be risky, many banks are improving their tech stacks and security infrastructure to provide digital asset custody services to a wider range of retail customers. Very few bankers, and even fewer regulators, anticipated that the market would accommodate this development even just a few years ago. Yet we've seen much progress and a growing appetite for traditional bank engagement in this space. We are also seeing positive signs in the evolution of the digital asset user experience, making digital assets more accessible and easier to use. One recent development—Congress passing the GENIUS Act and the President signing it into law—has brought stablecoins to the forefront of many discussions. And they are now positioned to become a fixture in the financial system, with implications and opportunities for the traditional banking system, including the potential to disrupt traditional payment rails. Congress tasked the banking agencies with creating a regulatory framework for stablecoins, and we are working with our colleagues in the other agencies to move forward. It is essential that banks and regulators are open to engaging in new technologies and departing from an overly cautious mindset. Regulators must understand new products and services and recognize the utility and necessity of embracing technology in the traditional financial sector. So how do we accomplish this? Some of you may have had direct experience with regulators and the banking system, as you attempted to engage in this type of partnership with banks through the introduction of new technology and services. I am sure that many of you were not satisfied with these interactions. When you start from a world of possibility, where you move fast and break things to make rapid improvements, you may struggle with the complex and rigid regulatory constructs familiar to bankers and regulators. In this world, inertia can easily set in and pose resistance to anything not deemed within the realm of "traditional" banking activities. Despite this past inertia, change is coming. Bank regulators are taking important steps to create a framework for digital assets and the adoption of blockchain technology within the banking system. These steps will promote accessibility to banking products and services by removing supervisory impediments that have stood in the way of bank relationships. I am also encouraged by the promise of this technology, by its ability to solve problems and improve the efficiency of the traditional financial system. To this point, I have noted several use cases that have already been adopted or are in development within the banking system, but I would also like to encourage the industry to engage with regulators to help us understand blockchain and its potential to solve other problems. What is the value proposition of any new product or approach? What problem is it intended to address? And how should regulators consider both the risks and benefits, so we can provide a path to allow its use within the banking system? We have already seen some initial benefits of bank AI adoption, and I continue to be encouraged by the significant ongoing investments being made in AI and in machine learning. These technologies have the potential to transform how business is conducted, including the way we detect and prevent fraud, manage risk, and provide customer service. During a recent banking conference at the Fed, Sam Altman, the CEO of Open AI, joined me for a fireside chat on AI in the banking and financial sector.2 One highlight from our discussion was the two-sided nature of how technology can impact banking transactions—just as AI can undermine customer verification methods designed to identify and mitigate fraud, AI tools can also be leveraged to detect and mitigate fraud. I see a similar challenge with blockchain technologies. Some bankers have expressed concerns about new technologies posing a threat to traditional business models and practices. But the banking system is constantly evolving, and technology can change the banking system regardless of how banks and regulators choose to respond. We must choose whether to embrace the change and help shape a framework that will be reliable and durable—ensuring safety and soundness and incorporating the benefits of both efficiency and speed—or to stand still and allow new technology to bypass the traditional banking system altogether. From a regulator's perspective, the choice is clear. I am open to these discussions, and I look forward to learning more. Many of you have a great deal to share and have new ideas about the best regulatory approach to blockchain and digital assets. Let me start with a specific request on fraud: how can new technologies be leveraged to fight fraud? Fraud is a major challenge in the financial services sector, and if blockchain or other new tools could mitigate it, we should explore those use cases. If fraud can be addressed using new technology, we should make sure that the regulatory framework does not stand in the way. I see this as an exciting opportunity for collaboration between industry and the Fed.3 The promise of technology and advances like AI are already positioned to impact parts of the banking and financial system. Ideally, changes will occur with the willing embrace of regulators—allowing use cases to proliferate in a way that benefits the banking system. If this is not our approach, then we risk the banking system becoming less relevant to consumers, businesses, and the overall economy. As a result, the banks will play a diminished role in the financial system more broadly. Those who follow developments in bank regulation have hopefully recognized some positive steps that demonstrate our commitment to embrace change. I am committed to changing our culture and attitude toward the adoption and integration of technology and new products and services. The Hidden Role of Reputational RiskIn late June, the Board announced that reputational risk would no longer be considered in our supervisory process.4 To implement this lasting change, we are updating guidance, examination manuals, handbooks, and other supervisory materials to ensure the durability of this approach, which is a critical step in addressing the problem of de-banking. I am also considering whether we need a regulatory change to provide greater transparency and certainty about this approach. It is not the role of examiners or policymakers to direct which customers or industries to serve or which products to offer. That decision lies solely within the purview of bank management, limited by the safety and soundness of the institution,, the legal activities of its customer, and risks, if any, to financial stability. Over time, "reputational risk" emerged as a priority area that policymakers emphasized for examinations. Exams or reviews focused on reputational risk have often lacked a sufficient nexus to financial risk and safety and soundness considerations that are the appropriate focus of our supervisory activities. Let me be clear. We must adopt an approach that does not penalize or prohibit a bank from banking a customer engaged in legal activity. This approach must allow and encourage banks to provide banking products and services to any legal business, without disfavoring any particular viewpoints, businesses, or industries. The Importance of OutreachThe industry—whether traditional finance, community banking, or digital assets—should expect a constructive engagement with our supervisors when discussing strategies and approaches for innovation. As regulators, we must engage in a way that enables our supervisory teams to understand the technology or innovation under consideration and have an open-minded view about the benefits and possibilities of a new approach, while also understanding effective mitigation strategies to address any risks. Banks should be encouraged to explore new technology, to engage in discussions with their regulators about how they can be deployed, and what reasonable supervisory expectations should apply. In this context, a healthy dialogue and a commitment to learning ensures the bank and examiner relationship can be collaborative rather than antagonistic in tone. Innovators, banks, and regulators must develop a constructive relationship, and this relies on a commitment to ongoing outreach. As I have demonstrated throughout my tenure as a regulator at both the state and federal levels, I am committed to outreach that enhances my understanding of industry preferences, challenges and better ways to engage with both developers and adopters. We should build an examination workforce that requires skills development and informed judgement to address evolving business preferences, practices and expectations. In a step toward doing so, last week, I announced that the Fed's "novel supervision" activities would be reintegrated into our Reserve Bank examination staff. This will reestablish the role of the normal supervisory process in monitoring banks' so-called "novel activities."5 Our approach should consider allowing Federal Reserve staff to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality. While there are many resources available to learn about these financial products, and we will soon be establishing a framework for supervising issuers of these assets, there's no replacement for experimenting and understanding how that ownership and transfer process flows. I certainly wouldn't trust someone to teach me to ski if they'd never put on skis, regardless of how many books and articles they have read, or even wrote, about it. We should consider whether limits on staff investment activities may be a barrier to recruiting and retaining examiners with the necessary expertise and for existing staff to better understand the technology. Building a Tailored and Proportional Regulatory FrameworkGoing forward it will be necessary to continue to implement a tailored approach to these new technologies in our supervisory activities, an approach that balances the supervisory and regulatory expectations in a way that is commensurate with risk. What would this look like in practice? It needs to include regulatory certainty, tailoring, safety and soundness, consumer protection, and maintaining America's reputation for providing an open environment for innovation. Regulators should abide by these principles in developing this framework. The first principle is essential. That is regulatory certainty. Justifying investing in new blockchain development specifically for the banking industry, or even repurposing existing blockchain technologies for this sector, requires significant investment. Why would you make that investment without a clear understanding about how regulators will evaluate new use cases in a highly regulated industry? Would you choose to partner with banks, knowing that this will bring regulatory scrutiny and uncertainty, or would you develop alternatives outside of the banking system? Your industry has already experienced significant frictions with bank regulators applying unclear standards, conflicting guidance, and inconsistent regulatory interpretations. We need a clear, strategic regulatory framework that will facilitate the adoption of new technology, recognizing that in some cases, it may be inadequate and inappropriate to apply existing regulatory guidance to address emerging tech. Having clear and transparent rules is not effective if these rules are unnecessarily burdensome and restrictive. So, my second principle is that rules must be well-calibrated and tailored to address risks. Well-calibrated regulation promotes responsible innovation while also aligning incentives for long-term growth and stability. Tailoring rules and supervision requires regulators to approach each use case based on particular facts and circumstances, rather than applying expectations designed for an imaginary "worst-case" scenario that differs from the actual use case. We cannot adopt a one-size-fits-all approach. Regulators must recognize the unique features of these new assets and distinguish them from traditional financial instruments or banking products. A third principle is that frameworks must be consistent with generally applicable rules and requirements. Customer-facing products must comply with consumer protection laws, including those prohibiting unfair, deceptive, or abusive acts or practices. We must think carefully about appropriate regulations to protect consumers and investors, maintain bank safety and soundness, and preserve the stability of the financial system. Any legal framework must also include appropriate Bank Secrecy Act and anti-money-laundering requirements, to fulfill the important policy objectives of these requirements. Finally, we need to build a framework that allows the United States to continue to be the best place in the world to innovate. Failing to do so could jeopardize American competitiveness over the long run. Regulators have taken preliminary steps to support blockchain technology within the banking system, as well as to eliminate deterrents for banks to provide services to the digital asset industry. I am confident that with the benefit of ongoing outreach and education we will build a framework that is fair, efficient, and transparent. Closing ThoughtsWe stand at a crossroads: we can either seize the opportunity to shape the future or risk being left behind. By embracing innovation with a principled approach, we can define the course of history and fulfill our responsibility to promote the safety and soundness of the banking system and financial stability. We are mindful of the potential risks and vulnerabilities that result from rapid transformation. We are cautious about the unintended consequences, and our mindset, and policies guide us toward minimizing risks. But we must pay equal attention to the benefits side of the equation. Innovation and regulation don't need to be on opposite ends of the spectrum. In fact, they complement each other. A more modern, efficient, and effective financial system furthers key regulatory objectives—promoting safe and sound banking operation, financial stability, and economic growth. 1. The views expressed here are my own and are not necessarily those of my colleagues on the Board of Governors of the Federal Reserve System or the Federal Open Market Committee.  2. Michelle W. Bowman, "Fireside Chat with OpenAI CEO Sam Altman," conducted at the Integrated Review of the Capital Framework for Large Banks Conference, Washington, D.C., July 22, 2025.  3. See Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation, "Federal Bank Regulatory Agencies Seek Comment to Address payments and Check Fraud," press release, June 16, 2025. Comments on the RFI are due on September 18, 2025.  4. Board of Governors of the Federal Reserve System, "Federal Reserve Board Announces That Reputational Risk Will No Longer Be a Component of Examination Programs in Its Supervision of Banks," press release, June 23, 2025.  5. See Board of Governors of the Federal Reserve System, "Federal Reserve Board Announces That It Will Sunset Its Novel Supervision Program And Return to Monitoring Banks' Novel Activities Through the Normal Supervisory Process," press release, August 15, 2025. 

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Joint Trades Call For Recalibration Of Cryptoasset Prudential Standards And Highlight DLT’s Transformative Role In Capital Markets

A coalition of leading global financial trade associations (“the Joint Trades”), together with Boston Consulting Group (BCG), Ashurst, and Sullivan & Cromwell as technical advisors, issued a letter to the Basel Committee on Banking Supervision (BCBS) urging a pause and recalibration of the Cryptoasset Exposures Standard (SCO60) and a comprehensive report highlighting the transformative potential of Distributed Ledger Technology (DLT) in capital markets. The Joint Trades recommend essential revisions of the Basel banking prudential treatment of cryptoassets and pausing implementation of SCO60 ahead of its January 2026 effective date to allow for a targeted consultation and redesign. The letter highlights the excessively conservative and overly punitive capital treatment of cryptoassets that is misaligned with actual risks, in addition to various inconsistencies with current market risk management practices. The Joint Trades urge the BCBS to make revisions to the cryptoasset standard to better reflect actual risk profiles and to support responsible innovation within the regulatory perimeter. The accompanying report, titled “The Impact of DLT in Capital Markets: Ready for Adoption, Time to Act”, illustrates how tokenization and DLT are reshaping securities issuance, collateral management and fund operations, with live use cases demonstrating significant efficiency gains, enhanced transparency and improved risk management. Importantly, the report describes how the overall size and significance of the cryptoassetmarket have increased, rendering many of the premises underlying the Basel standard outdated and requiring important adjustments. Key Report Highlights DLT is ready to scale: Institutional adoption is accelerating, with tokenized money market funds and digital bond issuances gaining traction globally. Technology-neutral regulation is essential: The Joint Trades emphasize that prudential frameworks must focus on the underlying financial activity and risk—not the technology used. Overly conservative capital treatments for cryptoassets risk pushing innovation outside the regulatory perimeter. Legislation and regulation must catch up: Reform needs to keep pace with development of DLT-based finance and market developments. DLT enables safer, more efficient markets: Use cases such as collateral management, fixed-income issuance and fund tokenization demonstrate reduced settlement times, improved liquidity and enhanced operational resilience. Six priority areas for ecosystem development: Accelerate market development in high-potential asset classes. Clarify legal foundations and align regulatory treatment. Establish interoperability to prevent market fragmentation. Address technical and operational integration gaps. Enable scalable settlement with tokenized money and stable payment instruments. Foster public-private coordination. The stage for mass adoption of tokenization in capital markets is set, driven by clearer regulatory pathways, mature technology platforms and committed institutional participation. Now is the time for coordinated action to harness the benefits of DLT, modernize financial infrastructure and support sustained economic growth. About the Joint Trades The Joint Trades include the Global Financial Markets Association (GFMA) and its members the Asia Securities Industry & Financial Markets Association (ASIFMA), Securities Industry and Financial Markets Association (SIFMA) and the Association for Financial Markets in Europe (AFME); Bank Policy Institute (BPI); Futures Industry Association (FIA); Financial Services Forum (FSF); Global Blockchain Business Council (GBBC); Global Digital Finance (GDF); Institute of International Finance (IIF); International Swaps and Derivatives Association (ISDA). Download the full “Impact of DLT on Capital Markets” report here and the prudential letter here.

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Sample Data Available For JPX Market Innovation & Research Customized Data On Director And Auditor Skills Of Listed Companies

We are pleased to announce that JPX Market Innovation & Research, Inc. (JPXI) is ready to provide a beta (test) version of customized data that offers a comprehensive overview of the skills held by directors and auditors across listed companies (hereinafter referred to as “sample data”). By utilizing generative AI, we have categorized the skill information extracted from the skills matrices and reasons for appointment found in listed companies’ convocation notices for general shareholders meetings. This process has enabled us to classify these skills into eight distinct categories(Note1) and create mappings for each director and auditor.As part of our ongoing efforts to refine this data for future formal service offerings, we are now offering free access to sample data to those who are willing to assist with feedback and insights.In accordance with Supplementary Principle 4.11.1(Note2) of the Corporate Governance Code, an increasing number of companies have been identifying and disclosing the skills that their boards of directors should possess. A “skills matrix” is a common method for disclosing these combinations of skills and is typically included in convocation notices of general shareholders meetings, integrated reports, and other documents.However, the skills matrices vary in skill classification and display formats across companies, and the frequent use of PDF format for disclosure makes compilation and analysis challenging.Utilizing our data would facilitate easier analysis of the skills held by each director and auditor across listed companies. Investors may use this information as a valuable reference when exercising voting rights, while listed companies may find it beneficial for understanding industry trends in board composition and identifying potential candidates for directors, among other purposes. JPXI invites you to join us in reviewing the sample data and share your thoughts on specific aspects, such as the data specifications and classification methods.For further details on the sample data and application procedures, please refer to the following information. Management and Corporate Strategy/Finance, Accounting and Business Administration/Legal and Risk Management/Human Resources and Talent Development/IT and Digital/International and Global Affairs/Sustainability and ESG/Sales and Marketing The board should identify the skills, etc. that it should have in light of its managing strategies, and have a view on the appropriate balance between knowledge, experience and skills of the board as a whole, and also on diversity and appropriate board size. Consistent with its view, the board should establish policies and procedures for nominating directors and disclose them along with the combination of skills, etc. that each director possesses in an appropriate form according to the business environment and business characteristics, etc., such as what is known as a "skills matrix.” When doing so, independent director(s) with management experience in other companies should be included.   (Reference) Sample of a skills matrix in a company disclosure (as source for our data)   Sample Data Details item detail Data coverage period Convocation notices of general shareholders meeting issued between July 13, 2023, and July 12, 2024, with the most recent notice if a company has issued multiple notices during this period. Target companies Companies listed on Tokyo Stock Exchange Target positions board-member directors and auditors (Note) Files and data to be provided List of skills held by directors and auditors of listed companies List of links to convocation notices of general shareholders meetings, as source of our data by way of generative AI (Note) Data will be provided in Japanese only. Other considerations and disclaimers The information may be instances where skill information is not included in the convocation notices of general shareholders meetings, leading to cases where our data cannot be accurately extracted. This data is created using generative AI. While a certain degree of accuracy has been confirmed, due to the nature of generative AI, there may be variability in the precision of AI-generated compilation, and some inaccurate information may be included. Therefore, please kindly note that the accuracy of our data is not guaranteed. Skills are plotted and mapped uniformly for each director based on JPXI's unique criteria, including appointment reasons, not just skills matrices. Thus, the information in our data may not completely match the original skills matrices information disclosed by listed companies. (Note) ・Although the Supplementary Principles do not require companies to disclose the skills of their auditors, there are cases where auditor skills are identified and disclosed, so they are similarly mapped. Nevertheless, the term of office for auditors under the Companies Act is typically four years, meaning they may not be included in appointment proposals as often as directors, whose term is usually two years. As a result, there may be less information available about auditors than directors. Application Procedure Sample data can be obtained from the link below (Japanese only). Sample Data of Director and Auditor Skill Information If you wish to receive the full version of the sample data (for approximately 3,700 companies), you must apply through the web form by agreeing to the "Terms and Conditions for Trial Data Provided by JPX Market Innovation & Research, Inc." prepared by JPXI. Director and Auditor Skill Information - Sample Data Application Form Sample data is typically sent via email within two to three business days from the application date (a download link for the sample data will be sent via e-mail). The sample data will remain accessible for two months from your receipt. When the accessible period expires, please stop using the data and delete it. As mentioned above, we provide access to this sample data only to those who are willing to assist with feedback and insights to help us improve our data and services. To this end, we will contact the data recipients in due course. Thank you in advance for your understanding and cooperation.

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TMX Group CEO John Mckenzie To Present At The 2025 Scotiabank Financials Summit

TMX Group CEO John McKenzie will present at the 26th annual Scotiabank Financials Summit on Wednesday, September 3, 2025, from 2:40 to 3:10 p.m. ET. A link to the webcast will be available and archived in TMX's shareholder events section.

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Broadridge Acquires Signal, Accelerating Global Digital Communications Expansion

Acquisition expands digital capabilities and market expertise in the UK and Europe, adding to Broadridge’s industry leading financial communications solutions Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR), today announced that it has acquired Signal, a leader in transforming  customer communications for financial services and social sector firms in the UK. “This is an important step toward globalizing Broadridge’s digital communications solutions to better serve our clients with operations outside North America,” said Mike Sleightholme, President of Broadridge International. “The combination of Signal’s digital-first communications and strong relationships with UK financial services firms along with our proven scale and regulatory domain expertise transforms our ability to serve our global clients and extend our footprint in Europe.” Signal provides a full suite of design, technology and consulting services that support omni channel communications for financial services and other firms. Its proprietary technology and deep digital expertise help clients power their shift from legacy print to drive digitization and enhance client engagement. Signal provides an integrated shared service model to support in-house teams alongside specialist managed services, including fully outsourced print production. “Growing expectations from both customers and regulators are driving the need to modernise and digitise the customer and investor experience,” said Barney Hosey, CEO of Signal. “Broadridge is a trusted and transformative partner to clients who shares our commitment to innovation.  Its focus on providing a more holistic global customer communications experience, while delivering greater value to clients means we are very much aligned. The leadership team and I are delighted to be joining Broadridge and enabling the expansion of its global capabilities to serve customers and investors around the world.” Serving nearly every major financial institution in North America and many globally, Broadridge processes billions of critical communications annually. To meet rising regulated communication and compliance requirements efficiently and securely, Broadridge leverages technology and deep regulatory expertise across global jurisdictions to ensure clients maintain compliance as rules evolve. Broadridge’s communications and customer engagement platform delivers personalized, compelling digital and print experiences to attract, onboard, engage, and retain customers across industries including financial services, healthcare, utilities, telecom, and insurance. The transaction is not expected to have a material impact on Broadridge’s financial results.

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ICE Announces Its Treasury Clearing Application And Rulebook Have Been Published By The U.S. Securities And Exchange Commission

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that the application and rulebook of ICE Clear Credit to expand its current registered clearing agency designation to add U.S. Treasury clearing has been published by the U.S. Securities and Exchange Commission (SEC). This publication is a key step in the regulatory approval process needed for the company’s plans to launch a U.S. Treasury clearing service. Subject to regulatory approval, ICE Clear Credit plans to launch its Treasury clearing service later this year, which will give the market an opportunity to voluntarily clear for a period before the mandate goes into effect. “We’re thrilled to see this next milestone as we work to familiarize customers with our plans to launch a Treasury clearing service later this year,” said Paul Hamill, Chief Commercial Officer of ICE Clear Credit. “The rulebook underpins our access model, allowing customers to clear U.S. Treasury securities the same trusted way Credit Default Swap (CDS) products are currently cleared. This model allows us to leverage the industry-accepted tools we already have in place, such as ICE Link, for trade matching, porting and connectivity across platforms.” ICE’s proposed service will leverage its leading global clearing house, ICE Clear Credit, which currently clears CDS instruments, to offer clearing for U.S. Treasury securities and repurchasing agreements. The Treasury clearing service is being established as a distinct offering from the current CDS clearing service with a separate rulebook, membership, risk management framework, financial and liquidity resources, and risk committee. ICE’s Treasury clearing solution will allow for both ‘Done Away’and ‘Done With’ implementation, which allows market participants to choose their preferred clearing method. This is the same process that is used daily to trade and clear financial products through ICE’s global clearing houses. “By leveraging our experience to establish and operate ICE Clear Credit, as well as several other exchanges and clearing houses, we’ve been able to expediently develop a robust and flexible solution that will provide market participants with the ability to clear U.S. Treasury securities in a trusted and capital efficient environment,” said Stan Ivanov, President of ICE Clear Credit. “ICE Clear Credit has become the leading global clearing house for credit derivatives, and we believe our newly developed clearing offering will provide a solid foundation to support the risk management needs of participants throughout the Treasury market.” ICE Clear Credit, launched by ICE in 2009 to bring centralized clearing to the CDS market, enables clearing of more than 670 Single Name, Index, and Index Option CDS instruments referencing corporate and sovereign debt. ICE Clear Credit clearing has reduced counterparty risk exposure for parties to trades with a combined notional amount of over $385 trillion, with current open interest at ICE Clear Credit over $2 trillion. ICE Clear Credit has been designated a systemically important financial market utility (SIFMU) by the Financial Stability Oversight Council, and is a qualified central counterparty under U.S. bank capital rules. For more information about ICE’s proposed U.S. Treasury clearing service, please visit: https://www.ice.com/clear-credit/us-treasury-clearing.

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FNZ Launches Advisor AI To Redefine Advisor Productivity And Scale Personalized Advice

FNZ launches Advisor AI, a next-generation artificial intelligence solution that enables advisors to work more efficiently, engage clients more effectively, and rapidly scale the delivery of personalized advice. Embedded directly into FNZ’s market leading wealth platform, Advisor AI improves advisor productivity, enhances the client experience and reduces administrative burden. Advisor AI is the first in a series of new AI-driven solutions FNZ will launch to further boost advisor productivity and client engagement. The launch follows the recently announced strategic partnership with Microsoft, which further enhances FNZ’s global platform with advanced AI, automation and cloud capabilities.  FNZ, the global wealth management platform, has today announced the global launch of FNZ Advisor AI, a generative AI solution embedded directly into FNZ’s market leading wealth management platform. The solution will help financial advisors enhance productivity, deliver more personalized advice and serve more clients at scale.  The modern advisor’s context Today’s financial advisors face growing pressure to meet evolving client expectations, regulatory obligations and business growth targets, all while managing rising operational complexity. Recent FNZ research found that 73% of wealth management clients expect more personalized services from their advisor in the next two years, while 70% of advisors believe better technology is essential to meeting those expectations. FNZ Advisor AI addresses these challenges by integrating intelligent automation and AI-driven efficiencies directly into FNZ’s market leading platform, placing powerful capabilities right at an advisor’s fingertips. Why FNZ Advisor AI will change the game With more than 650 financial institution partners, over 26 million end investors and close to $2 trillion in assets on platform, FNZ provides access to one of the largest wealth management data sets in the world. This enables FNZ Advisor AI to support smarter, faster decision-making by generating real-time insights based on client and portfolio data. Advisors can proactively identify opportunities, flag risks and tailor their recommendations across their full book of business, ultimately driving better client outcomes. Advisor AI also automates the entire client meeting lifecycle. Advisors can now prepare for meetings using personalized insights, access relevant content during client meetings, and use Advisor AI to transcribe and analyze the discussions afterwards. The advanced solution will also highlight key points that require follow-up and guide advisors on the most relevant next conversations to have with each client.  The time spent on repetitive administrative tasks is significantly reduced, freeing up advisors to spend more time with clients and focus on delivering high-quality, personalized advice. Security at its core The technology is underpinned by a dedicated AI architecture, FNZ’s robust AI governance framework, and close alignment with regulators to ensure the solution meets the highest industry standards while maintaining trust and security. This is supported by an experienced team running continuous evaluations, testing prompts and outputs to verify performance. Alongside the advanced capabilities that set Adviser AI apart from generic solutions, robust guardrails are also built in to minimize the risk of AI hallucinations and ensure accuracy. Roman Regelman, FNZ Group President, said: “We know advisors globally are already experimenting with and relying on generative AI tools, but they are looking for integrated solutions to effectively and safely support them and their clients.” “FNZ Advisor AI changes the game. Underpinned by rigorous testing, and embedded into our market leading advisor platform, it enables advisors to spend more time with clients and deliver more reliable, faster and more personalized advice at scale. We are already seeing strong interest across our global client base and look forward to full deployment later this year.” This launch also follows the recent announcement of a global strategic partnership between FNZ and Microsoft, aimed at accelerating digital transformation in the wealth management industry and enhancing FNZ’s AI, automation and cloud capabilities worldwide.

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Moscow Exchange: Non-Backward-Compatible Changes To FAST Spectra 8.6

Following up on the newsletter #119 "Spectra T+1 test environment upgrade to version 8.6"PLEASE NOTE the non-backward-compatible changes in FAST SPECTRA 8.6 protocol: 1. The SecurityGroupStatus message ID changed from id="39" to id="45". 2. The SecurityTradingStatus field type changed from int32 to uInt32 in the SecurityGroupStatus template. Please find the updated specification and templates here:https://ftp.moex.com/pub/FAST/Spectra/test/FAST_8.6/ Press-release: https://www.moex.com/n91340 (Only in Russian) Read more on the Moscow Exchange: https://www.moex.com/n92914

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GCEX Appoints Kevin Gillespie To Drive Sales & Business Development For UK/EMEA

Leading regulated digital prime broker GCEX (GCEX Group) has appointed industry veteran Kevin Gillespie to a newly created sales and business development role, reporting to GCEX’s CEO, Lars Holst. In this new role, Kevin Gillespie will be covering the UK and EMEA. Kevin Gillespie has over 35 years’ experience in the industry, beginning his career as an FX trader before moving into sales and business development over 20 years ago. He joins GCEX from Laser Digital, a Nomura Group company, where he primarily focused on digital and FX sales to institutional clients. During his career, Kevin has held senior institutional sales and business development roles at Menai Markets, Spotex, CobaltFX, Hotspot and IFX Markets. He has an impressive track record in production-oriented sales and in developing revenue opportunities for entrepreneurial businesses. At GCEX he will focus on driving growth for GCEX’s FX, CFD and crypto offering amongst brokers, hedge funds, asset managers and professional traders. Lars Holst, Founder and CEO, GCEX commented, “I have known Kevin for many years and am thrilled that he has chosen to join our team. He has a wealth of experience in the FX, CFD and crypto industries, a strong network of institutional clients, and an in-depth understanding of their requirements. In line with our ambitious growth strategy, we are continually investing in our team and have created this new, UK-based sales and business development role to capitalise on the significant growth potential for GCEX in the UK and EMEA. Kevin is ideally placed to help us to maximise these opportunities as demand for institutional crypto services continues to rise.” Kevin Gillespie added, “I am really impressed by the strength of GCEX’s offering, its robust infrastructure, the fact that it is regulated in three jurisdictions, and the breadth of its institutional client base.  I am looking forward to playing a key role in driving further growth by sourcing new revenue opportunities and attracting new clients in the UK and EMEA.”  GCEX Group empowers institutional and professional clients to access deep liquidity in CFDs on digital assets and FX, alongside spot trading and conversion of digital assets. The company also offers a comprehensive range of Forex brokerage and crypto-native technology solutions under its XplorDigital suite. XplorDigital features innovative plug-and-play solutions, ‘Crypto in a Box’ and ‘Broker in a Box’ which encompass technology-agnostic platforms addressing regulation while covering regulated custody solutions, staking solutions, safety of funds, tier 1 and deep liquidity, connectivity to the biggest price makers, advanced risk management, and innovative technology partnerships. Headquartered in London, with multiple offices across the globe, GCEX is regulated by the UK’s FCA, registered with the Danish FSA as a VASP and currency exchange and has a Virtual Asset Service Provider license by the Dubai Virtual Assets Regulatory Authority. True Global Ventures are investors in GCEX.  For further information, please visit www.gc.exchange or LinkedIn  

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London Stock Exchange Group plc ("LSEG") Transactions In Own Shares

LSEG announces it has purchased the following number of its ordinary shares of 679/86 pence each from Goldman Sachs International ("GSI") on the London Stock Exchange as part of its share buyback programme, as announced on 04 August 2025. Date of purchase: 18 August 2025 Aggregate number of ordinary shares purchased: 124,630 Lowest price paid per share: 92.2600 Highest price paid per share: 93.1800 Average price paid per share: 92.7146 LSEG intends to hold the purchased shares in treasury. Following the above transaction, LSEG holds 17,089,693 of its ordinary shares of 679/86 pence each in treasury and has 526,510,273 ordinary shares of 679/86 pence each in issue (excluding treasury shares). Therefore, the total voting rights in the Company will be 526,510,273. 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 GSI on behalf of the Company as part of the buyback programme is included below. 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: 124,630 (ISIN: GB00B0SWJX34)   Date of purchases: 18 August 2025   Investment firm: GSI   Aggregated information:     Venue Volume-weighted average price Aggregated volume Lowest price per share Highest price per share London Stock Exchange 92.7146 124,630 92.2600 93.1800 Turquoise               Detailed information:     Transaction Date Time (Time Zone) Volume Price (GBP) Trading Venue Transaction ID 2025-08-18 09:39:12 BST 5 92.4000 XLON 1278457757576751 2025-08-18 09:39:12 BST 131 92.4000 XLON 1278457757576759 2025-08-18 09:48:26 BST 135 92.3400 XLON 1278457757577358 2025-08-18 09:48:26 BST 137 92.3000 XLON 1278457757577365 2025-08-18 09:48:28 BST 98 92.3000 XLON 1278457757577389 2025-08-18 09:48:49 BST 139 92.2600 XLON 1278457757577428 2025-08-18 09:53:14 BST 137 92.3800 XLON 1278457757577787 2025-08-18 09:53:15 BST 1 92.3400 XLON 1278457757577795 2025-08-18 09:53:28 BST 140 92.3800 XLON 1278457757577815 2025-08-18 09:53:31 BST 107 92.3800 XLON 1278457757577830 2025-08-18 09:54:09 BST 28 92.3800 XLON 1278457757577857 2025-08-18 09:56:22 BST 39 92.5800 XLON 1278457757578095 2025-08-18 09:56:22 BST 133 92.5600 XLON 1278457757578096 2025-08-18 09:57:04 BST 137 92.5200 XLON 1278457757578153 2025-08-18 09:59:21 BST 135 92.4800 XLON 1278457757578361 2025-08-18 10:02:48 BST 70 92.6000 XLON 1278457757578611 2025-08-18 10:02:48 BST 222 92.6000 XLON 1278457757578612 2025-08-18 10:02:48 BST 61 92.6000 XLON 1278457757578626 2025-08-18 10:02:48 BST 31 92.6000 XLON 1278457757578627 2025-08-18 10:02:48 BST 200 92.6000 XLON 1278457757578628 2025-08-18 10:02:49 BST 85 92.6000 XLON 1278457757578629 2025-08-18 10:02:49 BST 45 92.6000 XLON 1278457757578630 2025-08-18 10:02:49 BST 162 92.6000 XLON 1278457757578631 2025-08-18 10:02:49 BST 85 92.6000 XLON 1278457757578635 2025-08-18 10:02:49 BST 33 92.6000 XLON 1278457757578636 2025-08-18 10:02:49 BST 174 92.6000 XLON 1278457757578637 2025-08-18 10:02:49 BST 2 92.6000 XLON 1278457757578643 2025-08-18 10:02:49 BST 11 92.6000 XLON 1278457757578644 2025-08-18 10:02:50 BST 85 92.6000 XLON 1278457757578654 2025-08-18 10:02:50 BST 207 92.6000 XLON 1278457757578655 2025-08-18 10:02:50 BST 85 92.6000 XLON 1278457757578659 2025-08-18 10:02:50 BST 207 92.6000 XLON 1278457757578660 2025-08-18 10:02:51 BST 85 92.6000 XLON 1278457757578661 2025-08-18 10:02:51 BST 207 92.6000 XLON 1278457757578662 2025-08-18 10:02:51 BST 85 92.6000 XLON 1278457757578663 2025-08-18 10:02:51 BST 207 92.6000 XLON 1278457757578664 2025-08-18 10:02:52 BST 76 92.6000 XLON 1278457757578666 2025-08-18 10:03:00 BST 139 92.6000 XLON 1278457757578702 2025-08-18 10:04:24 BST 64 92.7200 XLON 1278457757578792 2025-08-18 10:05:04 BST 64 92.7200 XLON 1278457757578802 2025-08-18 10:05:04 BST 12 92.7200 XLON 1278457757578803 2025-08-18 10:05:04 BST 34 92.7200 XLON 1278457757578804 2025-08-18 10:05:04 BST 10 92.7200 XLON 1278457757578805 2025-08-18 10:05:04 BST 24 92.7200 XLON 1278457757578806 2025-08-18 10:05:04 BST 12 92.7200 XLON 1278457757578807 2025-08-18 10:06:01 BST 64 92.7200 XLON 1278457757578903 2025-08-18 10:06:01 BST 10 92.7200 XLON 1278457757578904 2025-08-18 10:09:24 BST 139 92.6800 XLON 1278457757579223 2025-08-18 10:09:24 BST 16 92.7000 XLON 1278457757579227 2025-08-18 10:09:24 BST 71 92.7000 XLON 1278457757579228 2025-08-18 10:09:24 BST 36 92.7000 XLON 1278457757579229 2025-08-18 10:09:24 BST 64 92.7000 XLON 1278457757579230 2025-08-18 10:10:04 BST 18 92.7400 XLON 1278457757579272 2025-08-18 10:10:04 BST 64 92.7400 XLON 1278457757579273 2025-08-18 10:10:04 BST 16 92.7400 XLON 1278457757579274 2025-08-18 10:10:58 BST 64 92.7000 XLON 1278457757579328 2025-08-18 10:10:58 BST 76 92.7000 XLON 1278457757579329 2025-08-18 10:10:58 BST 63 92.7000 XLON 1278457757579330 2025-08-18 10:11:30 BST 17 92.7000 XLON 1278457757579371 2025-08-18 10:11:30 BST 111 92.6800 XLON 1278457757579372 2025-08-18 10:11:30 BST 28 92.6800 XLON 1278457757579373 2025-08-18 10:11:56 BST 17 92.6800 XLON 1278457757579405 2025-08-18 10:12:37 BST 68 92.7200 XLON 1278457757579454 2025-08-18 10:12:37 BST 14 92.7200 XLON 1278457757579455 2025-08-18 10:12:39 BST 15 92.7000 XLON 1278457757579457 2025-08-18 10:12:39 BST 5 92.7000 XLON 1278457757579458 2025-08-18 10:12:42 BST 30 92.7200 XLON 1278457757579471 2025-08-18 10:12:42 BST 29 92.7200 XLON 1278457757579472 2025-08-18 10:12:42 BST 99 92.7200 XLON 1278457757579473 2025-08-18 10:12:42 BST 15 92.7200 XLON 1278457757579474 2025-08-18 10:13:14 BST 64 92.7200 XLON 1278457757579545 2025-08-18 10:13:14 BST 15 92.7200 XLON 1278457757579546 2025-08-18 10:13:14 BST 17 92.7200 XLON 1278457757579547 2025-08-18 10:13:14 BST 8 92.7200 XLON 1278457757579548 2025-08-18 10:13:14 BST 10 92.7200 XLON 1278457757579549 2025-08-18 10:13:14 BST 36 92.7200 XLON 1278457757579550 2025-08-18 10:13:14 BST 74 92.7200 XLON 1278457757579551 2025-08-18 10:13:44 BST 140 92.7200 XLON 1278457757579629 2025-08-18 10:17:28 BST 64 92.7200 XLON 1278457757579852 2025-08-18 10:17:28 BST 24 92.7200 XLON 1278457757579853 2025-08-18 10:17:28 BST 16 92.7200 XLON 1278457757579854 2025-08-18 10:17:28 BST 10 92.7200 XLON 1278457757579855 2025-08-18 10:18:12 BST 15 92.7200 XLON 1278457757579965 2025-08-18 10:18:12 BST 64 92.7200 XLON 1278457757579966 2025-08-18 10:19:04 BST 102 92.7600 XLON 1278457757580146 2025-08-18 10:19:04 BST 190 92.7600 XLON 1278457757580147 2025-08-18 10:19:04 BST 102 92.7600 XLON 1278457757580150 2025-08-18 10:19:04 BST 190 92.7600 XLON 1278457757580151 2025-08-18 10:19:05 BST 102 92.7600 XLON 1278457757580164 2025-08-18 10:19:05 BST 190 92.7600 XLON 1278457757580165 2025-08-18 10:19:28 BST 102 92.7600 XLON 1278457757580226 2025-08-18 10:19:28 BST 29 92.7600 XLON 1278457757580227 2025-08-18 10:19:58 BST 1 92.8000 XLON 1278457757580280 2025-08-18 10:19:58 BST 133 92.8000 XLON 1278457757580281 2025-08-18 10:21:35 BST 136 92.8400 XLON 1278457757580460 2025-08-18 10:21:35 BST 64 92.8400 XLON 1278457757580462 2025-08-18 10:21:35 BST 16 92.8400 XLON 1278457757580463 2025-08-18 10:21:35 BST 80 92.8400 XLON 1278457757580464 2025-08-18 10:22:35 BST 16 92.8400 XLON 1278457757580528 2025-08-18 10:22:36 BST 16 92.8400 XLON 1278457757580529 2025-08-18 10:23:03 BST 16 92.8400 XLON 1278457757580569 2025-08-18 10:23:03 BST 17 92.8400 XLON 1278457757580570 2025-08-18 10:23:13 BST 16 92.8400 XLON 1278457757580579 2025-08-18 10:23:23 BST 16 92.8400 XLON 1278457757580594 2025-08-18 10:23:23 BST 16 92.8400 XLON 1278457757580595 2025-08-18 10:23:24 BST 16 92.8400 XLON 1278457757580597 2025-08-18 10:23:25 BST 16 92.8800 XLON 1278457757580602 2025-08-18 10:23:26 BST 16 92.8800 XLON 1278457757580605 2025-08-18 10:23:26 BST 54 92.8800 XLON 1278457757580606 2025-08-18 10:23:43 BST 16 92.8600 XLON 1278457757580621 2025-08-18 10:23:51 BST 16 92.8600 XLON 1278457757580630 2025-08-18 10:23:51 BST 54 92.8600 XLON 1278457757580631 2025-08-18 10:24:13 BST 64 92.8800 XLON 1278457757580652 2025-08-18 10:24:13 BST 36 92.8800 XLON 1278457757580653 2025-08-18 10:24:13 BST 2 92.8800 XLON 1278457757580654 2025-08-18 10:24:43 BST 14 92.8800 XLON 1278457757580671 2025-08-18 10:25:13 BST 10 92.9000 XLON 1278457757580723 2025-08-18 10:25:13 BST 35 92.9000 XLON 1278457757580724 2025-08-18 10:25:13 BST 16 92.9000 XLON 1278457757580725 2025-08-18 10:25:13 BST 47 92.9000 XLON 1278457757580726 2025-08-18 10:26:00 BST 34 92.8800 XLON 1278457757580769 2025-08-18 10:26:00 BST 105 92.8800 XLON 1278457757580770 2025-08-18 10:26:03 BST 13 92.8800 XLON 1278457757580781 2025-08-18 10:26:09 BST 137 92.8800 XLON 1278457757580796 2025-08-18 10:26:09 BST 64 92.8800 XLON 1278457757580797 2025-08-18 10:26:09 BST 6 92.8800 XLON 1278457757580798 2025-08-18 10:27:07 BST 134 92.8800 XLON 1278457757580862 2025-08-18 10:28:18 BST 80 93.0000 XLON 1278457757581007 2025-08-18 10:28:18 BST 31 93.0000 XLON 1278457757581008 2025-08-18 10:28:18 BST 289 93.0000 XLON 1278457757581009 2025-08-18 10:29:41 BST 136 92.9200 XLON 1278457757581094 2025-08-18 10:30:53 BST 13 92.9000 XLON 1278457757581189 2025-08-18 10:31:03 BST 16 92.9000 XLON 1278457757581211 2025-08-18 10:31:07 BST 13 92.9000 XLON 1278457757581218 2025-08-18 10:31:07 BST 17 92.9000 XLON 1278457757581219 2025-08-18 10:31:17 BST 17 92.9000 XLON 1278457757581230 2025-08-18 10:31:38 BST 17 92.9400 XLON 1278457757581240 2025-08-18 10:31:38 BST 53 92.9400 XLON 1278457757581241 2025-08-18 10:31:43 BST 52 92.9400 XLON 1278457757581243 2025-08-18 10:31:43 BST 64 92.9400 XLON 1278457757581244 2025-08-18 10:31:43 BST 27 92.9400 XLON 1278457757581245 2025-08-18 10:31:43 BST 9 92.9400 XLON 1278457757581246 2025-08-18 10:31:43 BST 10 92.9400 XLON 1278457757581247 2025-08-18 10:32:30 BST 47 92.9200 XLON 1278457757581302 2025-08-18 10:32:30 BST 93 92.9200 XLON 1278457757581303 2025-08-18 10:33:23 BST 138 92.9800 XLON 1278457757581408 2025-08-18 10:33:23 BST 64 92.9800 XLON 1278457757581410 2025-08-18 10:33:23 BST 6 92.9800 XLON 1278457757581411 2025-08-18 10:34:33 BST 12 92.9600 XLON 1278457757581501 2025-08-18 10:35:10 BST 16 92.9600 XLON 1278457757581524 2025-08-18 10:35:18 BST 16 92.9600 XLON 1278457757581525 2025-08-18 10:35:53 BST 80 93.0000 XLON 1278457757581570 2025-08-18 10:35:53 BST 9 93.0000 XLON 1278457757581571 2025-08-18 10:35:53 BST 32 93.0000 XLON 1278457757581572 2025-08-18 10:35:53 BST 171 93.0000 XLON 1278457757581573 2025-08-18 10:36:23 BST 72 93.0000 XLON 1278457757581653 2025-08-18 10:36:53 BST 80 93.0000 XLON 1278457757581675 2025-08-18 10:36:53 BST 27 93.0000 XLON 1278457757581676 2025-08-18 10:37:23 BST 72 93.0000 XLON 1278457757581699 2025-08-18 10:37:43 BST 71 93.0000 XLON 1278457757581734 2025-08-18 10:38:10 BST 72 93.0000 XLON 1278457757581756 2025-08-18 10:38:29 BST 134 92.9800 XLON 1278457757581774 2025-08-18 10:39:23 BST 13 92.9800 XLON 1278457757581921 2025-08-18 10:40:00 BST 14 92.9800 XLON 1278457757581978 2025-08-18 10:40:03 BST 19 93.0000 XLON 1278457757581982 2025-08-18 10:40:03 BST 40 93.0000 XLON 1278457757581983 2025-08-18 10:40:03 BST 66 93.0000 XLON 1278457757581984 2025-08-18 10:40:13 BST 14 93.0000 XLON 1278457757581991 2025-08-18 10:40:13 BST 14 93.0000 XLON 1278457757581992 2025-08-18 10:40:13 BST 42 93.0000 XLON 1278457757581993 2025-08-18 10:40:33 BST 58 92.9800 XLON 1278457757582035 2025-08-18 10:41:06 BST 80 93.0000 XLON 1278457757582066 2025-08-18 10:41:06 BST 23 93.0000 XLON 1278457757582067 2025-08-18 10:41:40 BST 72 93.0000 XLON 1278457757582130 2025-08-18 10:42:13 BST 80 93.0000 XLON 1278457757582163 2025-08-18 10:42:13 BST 24 93.0000 XLON 1278457757582164 2025-08-18 10:42:13 BST 100 93.0000 XLON 1278457757582165 2025-08-18 10:42:13 BST 13 93.0000 XLON 1278457757582166 2025-08-18 10:42:13 BST 75 93.0000 XLON 1278457757582167 2025-08-18 10:43:28 BST 38 92.9800 XLON 1278457757582237 2025-08-18 10:43:28 BST 12 92.9800 XLON 1278457757582238 2025-08-18 10:44:00 BST 15 92.9800 XLON 1278457757582262 2025-08-18 10:44:13 BST 15 92.9800 XLON 1278457757582269 2025-08-18 10:44:13 BST 10 92.9800 XLON 1278457757582270 2025-08-18 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XLON 1278457757617502 2025-08-18 16:18:10 BST 9 92.5200 XLON 1278457757617507 2025-08-18 16:18:10 BST 48 92.5200 XLON 1278457757617508 2025-08-18 16:18:22 BST 76 92.5200 XLON 1278457757617521 2025-08-18 16:18:22 BST 39 92.5200 XLON 1278457757617522 2025-08-18 16:18:22 BST 53 92.5200 XLON 1278457757617523 2025-08-18 16:18:22 BST 10 92.5200 XLON 1278457757617524 2025-08-18 16:18:23 BST 106 92.5200 XLON 1278457757617533 2025-08-18 16:18:23 BST 55 92.5200 XLON 1278457757617534 2025-08-18 16:18:23 BST 60 92.5200 XLON 1278457757617535 2025-08-18 16:18:23 BST 90 92.5200 XLON 1278457757617536 2025-08-18 16:18:23 BST 47 92.5200 XLON 1278457757617537 2025-08-18 16:18:23 BST 90 92.5200 XLON 1278457757617538 2025-08-18 16:18:23 BST 47 92.5200 XLON 1278457757617539 2025-08-18 16:18:23 BST 56 92.5200 XLON 1278457757617540 2025-08-18 16:18:24 BST 106 92.5200 XLON 1278457757617542 2025-08-18 16:18:24 BST 55 92.5200 XLON 1278457757617543 2025-08-18 16:18:24 BST 60 92.5200 XLON 1278457757617544 2025-08-18 16:18:24 BST 90 92.5200 XLON 1278457757617545 2025-08-18 16:18:24 BST 47 92.5200 XLON 1278457757617546 2025-08-18 16:18:24 BST 90 92.5200 XLON 1278457757617554 2025-08-18 16:18:24 BST 47 92.5200 XLON 1278457757617555 2025-08-18 16:18:25 BST 90 92.5200 XLON 1278457757617556 2025-08-18 16:18:25 BST 47 92.5200 XLON 1278457757617557 2025-08-18 16:18:25 BST 106 92.5200 XLON 1278457757617558 2025-08-18 16:18:25 BST 55 92.5200 XLON 1278457757617559 2025-08-18 16:18:26 BST 106 92.5200 XLON 1278457757617560 2025-08-18 16:18:26 BST 55 92.5200 XLON 1278457757617561 2025-08-18 16:18:26 BST 131 92.5200 XLON 1278457757617562 2025-08-18 16:18:33 BST 138 92.5000 XLON 1278457757617617 2025-08-18 16:18:33 BST 147 92.5200 XLON 1278457757617619 2025-08-18 16:18:33 BST 55 92.5200 XLON 1278457757617620 2025-08-18 16:18:33 BST 60 92.5200 XLON 1278457757617621 2025-08-18 16:18:33 BST 10 92.5200 XLON 1278457757617622 2025-08-18 16:18:46 BST 9 92.5000 XLON 1278457757617673 2025-08-18 16:18:46 BST 60 92.5000 XLON 1278457757617674 2025-08-18 16:19:04 BST 140 92.4600 XLON 1278457757617750 2025-08-18 16:19:04 BST 70 92.4800 XLON 1278457757617752 2025-08-18 16:19:04 BST 96 92.4800 XLON 1278457757617753 2025-08-18 16:19:04 BST 126 92.4800 XLON 1278457757617754 2025-08-18 16:19:05 BST 102 92.4600 XLON 1278457757617755 2025-08-18 16:19:05 BST 2 92.4600 XLON 1278457757617756 2025-08-18 16:19:05 BST 40 92.4600 XLON 1278457757617757 2025-08-18 16:19:05 BST 147 92.4600 XLON 1278457757617758 2025-08-18 16:19:05 BST 1 92.4600 XLON 1278457757617759 2025-08-18 16:19:05 BST 193 92.4600 XLON 1278457757617760 2025-08-18 16:19:05 BST 3 92.4600 XLON 1278457757617761 2025-08-18 16:19:05 BST 47 92.4600 XLON 1278457757617762 2025-08-18 16:19:05 BST 49 92.4600 XLON 1278457757617763 2025-08-18 16:19:05 BST 11 92.4400 XLON 1278457757617765 2025-08-18 16:19:05 BST 36 92.4600 XLON 1278457757617766 2025-08-18 16:19:05 BST 147 92.4600 XLON 1278457757617767 2025-08-18 16:19:05 BST 96 92.4600 XLON 1278457757617768 2025-08-18 16:19:05 BST 2 92.4600 XLON 1278457757617769 2025-08-18 16:19:10 BST 137 92.4400 XLON 1278457757617787 2025-08-18 16:19:19 BST 32 92.4800 XLON 1278457757617805 2025-08-18 16:19:19 BST 10 92.4800 XLON 1278457757617806 2025-08-18 16:19:22 BST 60 92.4800 XLON 1278457757617823 2025-08-18 16:19:22 BST 38 92.4800 XLON 1278457757617824 2025-08-18 16:19:22 BST 60 92.4800 XLON 1278457757617825 2025-08-18 16:19:27 BST 60 92.4800 XLON 1278457757617848 2025-08-18 16:19:27 BST 41 92.4800 XLON 1278457757617849 2025-08-18 16:19:28 BST 150 92.4800 XLON 1278457757617850 2025-08-18 16:19:37 BST 147 92.4800 XLON 1278457757617858 2025-08-18 16:19:37 BST 52 92.4800 XLON 1278457757617859 2025-08-18 16:19:37 BST 2 92.4800 XLON 1278457757617860 2025-08-18 16:19:37 BST 34 92.4800 XLON 1278457757617861 2025-08-18 16:19:37 BST 57 92.4800 XLON 1278457757617862 2025-08-18 16:19:41 BST 52 92.4800 XLON 1278457757617899 2025-08-18 16:19:42 BST 2 92.4800 XLON 1278457757617905 2025-08-18 16:19:42 BST 38 92.4800 XLON 1278457757617906 2025-08-18 16:19:42 BST 105 92.4800 XLON 1278457757617907 2025-08-18 16:19:46 BST 2 92.4800 XLON 1278457757617921 2025-08-18 16:19:48 BST 60 92.4800 XLON 1278457757617923 2025-08-18 16:19:53 BST 15 92.4800 XLON 1278457757617925 2025-08-18 16:19:53 BST 60 92.4800 XLON 1278457757617926 2025-08-18 16:20:02 BST 6 92.4800 XLON 1278457757617979 2025-08-18 16:20:04 BST 41 92.4800 XLON 1278457757617991 2025-08-18 16:20:05 BST 1 92.4800 XLON 1278457757618041 2025-08-18 16:20:43 BST 20 92.4800 XLON 1278457757618250 2025-08-18 16:20:43 BST 147 92.4800 XLON 1278457757618251 2025-08-18 16:20:43 BST 15 92.4800 XLON 1278457757618252 2025-08-18 16:20:43 BST 110 92.4800 XLON 1278457757618253 2025-08-18 16:20:43 BST 81 92.4400 XLON 1278457757618284 2025-08-18 16:20:43 BST 58 92.4400 XLON 1278457757618285 2025-08-18 16:20:44 BST 130 92.4400 XLON 1278457757618286 2025-08-18 16:20:44 BST 147 92.4400 XLON 1278457757618287 2025-08-18 16:20:44 BST 15 92.4400 XLON 1278457757618288 2025-08-18 16:20:44 BST 147 92.4400 XLON 1278457757618290 2025-08-18 16:20:44 BST 60 92.4400 XLON 1278457757618291 2025-08-18 16:20:44 BST 85 92.4400 XLON 1278457757618292 2025-08-18 16:20:44 BST 32 92.4400 XLON 1278457757618293 2025-08-18 16:20:44 BST 147 92.4400 XLON 1278457757618294 2025-08-18 16:20:44 BST 32 92.4400 XLON 1278457757618295 2025-08-18 16:20:44 BST 60 92.4400 XLON 1278457757618296 2025-08-18 16:20:45 BST 67 92.4400 XLON 1278457757618297 2025-08-18 16:20:45 BST 147 92.4400 XLON 1278457757618298 2025-08-18 16:20:45 BST 60 92.4400 XLON 1278457757618299 2025-08-18 16:20:45 BST 7 92.4400 XLON 1278457757618300 2025-08-18 16:20:45 BST 30 92.4400 XLON 1278457757618301 2025-08-18 16:20:45 BST 147 92.4400 XLON 1278457757618302 2025-08-18 16:21:00 BST 38 92.4400 XLON 1278457757618336 2025-08-18 16:21:03 BST 7 92.4400 XLON 1278457757618348 2025-08-18 16:21:03 BST 10 92.4400 XLON 1278457757618349 2025-08-18 16:21:05 BST 79 92.4400 XLON 1278457757618355 2025-08-18 16:21:45 BST 48 92.4600 XLON 1278457757618543 2025-08-18 16:21:54 BST 133 92.4400 XLON 1278457757618553 2025-08-18 16:21:56 BST 30 92.4600 XLON 1278457757618561 2025-08-18 16:22:08 BST 136 92.4400 XLON 1278457757618613 2025-08-18 16:22:08 BST 147 92.4400 XLON 1278457757618625 2025-08-18 16:22:08 BST 32 92.4400 XLON 1278457757618626 2025-08-18 16:22:09 BST 24 92.4400 XLON 1278457757618629 2025-08-18 16:22:09 BST 37 92.4400 XLON 1278457757618630 2025-08-18 16:22:09 BST 143 92.4400 XLON 1278457757618631 2025-08-18 16:22:09 BST 60 92.4400 XLON 1278457757618632 2025-08-18 16:22:09 BST 66 92.4200 XLON 1278457757618635 2025-08-18 16:22:09 BST 12 92.4200 XLON 1278457757618636 2025-08-18 16:22:09 BST 50 92.4200 XLON 1278457757618637 2025-08-18 16:22:14 BST 78 92.4000 XLON 1278457757618644 2025-08-18 16:22:18 BST 62 92.4000 XLON 1278457757618663 2025-08-18 16:22:33 BST 147 92.4000 XLON 1278457757618804 2025-08-18 16:22:33 BST 145 92.4000 XLON 1278457757618805 2025-08-18 16:22:33 BST 147 92.4000 XLON 1278457757618807 2025-08-18 16:22:33 BST 25 92.4000 XLON 1278457757618808 2025-08-18 16:22:34 BST 35 92.4000 XLON 1278457757618809 2025-08-18 16:22:34 BST 52 92.4000 XLON 1278457757618810 2025-08-18 16:22:34 BST 147 92.4000 XLON 1278457757618811 2025-08-18 16:22:35 BST 90 92.3800 XLON 1278457757618821 2025-08-18 16:22:35 BST 147 92.3800 XLON 1278457757618822 2025-08-18 16:22:35 BST 55 92.3800 XLON 1278457757618823 2025-08-18 16:22:36 BST 53 92.3800 XLON 1278457757618832 2025-08-18 16:22:36 BST 147 92.3800 XLON 1278457757618833 2025-08-18 16:22:36 BST 45 92.3800 XLON 1278457757618834 2025-08-18 16:22:37 BST 49 92.3800 XLON 1278457757618841 2025-08-18 16:22:37 BST 45 92.3800 XLON 1278457757618842 2025-08-18 16:22:43 BST 115 92.3600 XLON 1278457757618859 2025-08-18 16:23:03 BST 25 92.3600 XLON 1278457757618876 2025-08-18 16:23:03 BST 139 92.3800 XLON 1278457757618888 2025-08-18 16:23:03 BST 147 92.3800 XLON 1278457757618889 2025-08-18 16:23:03 BST 10 92.4000 XLON 1278457757618890 2025-08-18 16:23:04 BST 137 92.3800 XLON 1278457757618898 2025-08-18 16:23:04 BST 155 92.3800 XLON 1278457757618899 2025-08-18 16:23:04 BST 29 92.3800 XLON 1278457757618900 2025-08-18 16:23:04 BST 85 92.3800 XLON 1278457757618901 2025-08-18 16:23:05 BST 60 92.3800 XLON 1278457757618911 2025-08-18 16:23:05 BST 147 92.3800 XLON 1278457757618912 2025-08-18 16:23:06 BST 147 92.4000 XLON 1278457757618936 2025-08-18 16:23:09 BST 71 92.3800 XLON 1278457757618941 2025-08-18 16:23:12 BST 69 92.3800 XLON 1278457757618943 2025-08-18 16:23:20 BST 78 92.4000 XLON 1278457757618981 2025-08-18 16:23:20 BST 41 92.4000 XLON 1278457757618982 2025-08-18 16:23:20 BST 40 92.4000 XLON 1278457757618983 2025-08-18 16:23:21 BST 16 92.4000 XLON 1278457757619007 2025-08-18 16:23:21 BST 147 92.4000 XLON 1278457757619008 2025-08-18 16:23:21 BST 30 92.4000 XLON 1278457757619009 2025-08-18 16:23:21 BST 25 92.4000 XLON 1278457757619010 2025-08-18 16:23:21 BST 74 92.4000 XLON 1278457757619011 2025-08-18 16:23:23 BST 37 92.3800 XLON 1278457757619024 2025-08-18 16:23:50 BST 134 92.3600 XLON 1278457757619110 2025-08-18 16:24:19 BST 140 92.3800 XLON 1278457757619176 2025-08-18 16:24:19 BST 148 92.3800 XLON 1278457757619177 2025-08-18 16:24:19 BST 157 92.3800 XLON 1278457757619178 2025-08-18 16:24:20 BST 160 92.3800 XLON 1278457757619180 2025-08-18 16:24:49 BST 59 92.4000 XLON 1278457757619280 2025-08-18 16:24:55 BST 147 92.4000 XLON 1278457757619310 2025-08-18 16:24:55 BST 75 92.4000 XLON 1278457757619311 2025-08-18 16:25:19 BST 10 92.3800 XLON 1278457757619423 2025-08-18 16:25:19 BST 98 92.3800 XLON 1278457757619424 2025-08-18 16:25:19 BST 134 92.3600 XLON 1278457757619426 2025-08-18 16:25:19 BST 2 92.3800 XLON 1278457757619434 2025-08-18 16:25:19 BST 15 92.3800 XLON 1278457757619435 2025-08-18 16:25:19 BST 39 92.3800 XLON 1278457757619436 2025-08-18 16:25:19 BST 10 92.3800 XLON 1278457757619437 2025-08-18 16:25:19 BST 10 92.3800 XLON 1278457757619438 2025-08-18 16:25:24 BST 139 92.3600 XLON 1278457757619470 2025-08-18 16:25:24 BST 20 92.3800 XLON 1278457757619472 2025-08-18 16:25:24 BST 10 92.3800 XLON 1278457757619473 2025-08-18 16:25:24 BST 147 92.3800 XLON 1278457757619474 2025-08-18 16:25:24 BST 41 92.3800 XLON 1278457757619475 2025-08-18 16:25:24 BST 30 92.3800 XLON 1278457757619476 2025-08-18 16:25:24 BST 5 92.3800 XLON 1278457757619477 2025-08-18 16:25:24 BST 15 92.3800 XLON 1278457757619478 2025-08-18 16:25:24 BST 24 92.3800 XLON 1278457757619479 2025-08-18 16:25:25 BST 135 92.3600 XLON 1278457757619482 2025-08-18 16:25:25 BST 140 92.3200 XLON 1278457757619489 2025-08-18 16:25:28 BST 60 92.3600 XLON 1278457757619523 2025-08-18 16:25:28 BST 56 92.3600 XLON 1278457757619524 2025-08-18 16:25:29 BST 51 92.3600 XLON 1278457757619525 2025-08-18 16:25:32 BST 2 92.3600 XLON 1278457757619531 2025-08-18 16:25:37 BST 12 92.3600 XLON 1278457757619577 2025-08-18 16:25:41 BST 135 92.3400 XLON 1278457757619589 2025-08-18 16:25:43 BST 27 92.3800 XLON 1278457757619599 2025-08-18 16:25:45 BST 111 92.3800 XLON 1278457757619612 2025-08-18 16:25:45 BST 38 92.3800 XLON 1278457757619613 2025-08-18 16:25:55 BST 105 92.3800 XLON 1278457757619651 2025-08-18 16:25:55 BST 43 92.3800 XLON 1278457757619652 2025-08-18 16:26:10 BST 60 92.3800 XLON 1278457757619753 2025-08-18 16:26:10 BST 37 92.3800 XLON 1278457757619754 2025-08-18 16:26:10 BST 50 92.3800 XLON 1278457757619755 2025-08-18 16:26:12 BST 38 92.3800 XLON 1278457757619760 2025-08-18 16:26:12 BST 60 92.3800 XLON 1278457757619761 2025-08-18 16:26:12 BST 22 92.3800 XLON 1278457757619762 2025-08-18 16:26:12 BST 102 92.3800 XLON 1278457757619763 2025-08-18 16:26:14 BST 14 92.4000 XLON 1278457757619791 2025-08-18 16:26:14 BST 59 92.4000 XLON 1278457757619792 2025-08-18 16:26:14 BST 147 92.4000 XLON 1278457757619793 2025-08-18 16:26:14 BST 134 92.3800 XLON 1278457757619794 2025-08-18 16:26:15 BST 44 92.3800 XLON 1278457757619811 2025-08-18 16:26:16 BST 55 92.3800 XLON 1278457757619812 2025-08-18 16:26:16 BST 40 92.3800 XLON 1278457757619813 2025-08-18 16:26:18 BST 2 92.3800 XLON 1278457757619851 2025-08-18 16:26:18 BST 60 92.3800 XLON 1278457757619852 2025-08-18 16:26:25 BST 60 92.3800 XLON 1278457757619876 2025-08-18 16:26:33 BST 2 92.3800 XLON 1278457757619916 2025-08-18 16:26:36 BST 2 92.3800 XLON 1278457757619917 2025-08-18 16:26:37 BST 2 92.3800 XLON 1278457757619918 2025-08-18 16:26:43 BST 88 92.3800 XLON 1278457757619984 2025-08-18 16:26:43 BST 10 92.3800 XLON 1278457757619985 2025-08-18 16:26:43 BST 39 92.3800 XLON 1278457757619986 2025-08-18 16:26:43 BST 60 92.3800 XLON 1278457757619987 2025-08-18 16:27:06 BST 147 92.3800 XLON 1278457757620187 2025-08-18 16:27:06 BST 36 92.3800 XLON 1278457757620188 2025-08-18 16:27:06 BST 45 92.3800 XLON 1278457757620189 2025-08-18 16:27:11 BST 8 92.3800 XLON 1278457757620212 2025-08-18 16:27:11 BST 42 92.3800 XLON 1278457757620213 2025-08-18 16:27:11 BST 147 92.3800 XLON 1278457757620214 2025-08-18 16:27:26 BST 7 92.3800 XLON 1278457757620233 2025-08-18 16:27:31 BST 16 92.3800 XLON 1278457757620257 2025-08-18 16:27:40 BST 13 92.3800 XLON 1278457757620286 2025-08-18 16:27:55 BST 48 92.3800 XLON 1278457757620326 2025-08-18 16:27:56 BST 60 92.4000 XLON 1278457757620337 2025-08-18 16:27:58 BST 147 92.4000 XLON 1278457757620338 2025-08-18 16:27:58 BST 60 92.4000 XLON 1278457757620339 2025-08-18 16:27:58 BST 18 92.3800 XLON 1278457757620340 2025-08-18 16:27:58 BST 120 92.3800 XLON 1278457757620341 2025-08-18 16:28:03 BST 131 92.4000 XLON 1278457757620369 2025-08-18 16:28:03 BST 72 92.4000 XLON 1278457757620370 2025-08-18 16:28:03 BST 89 92.4000 XLON 1278457757620371 2025-08-18 16:28:09 BST 6 92.4200 XLON 1278457757620395 2025-08-18 16:28:09 BST 33 92.4200 XLON 1278457757620396 2025-08-18 16:28:09 BST 147 92.4200 XLON 1278457757620397 2025-08-18 16:28:09 BST 106 92.4200 XLON 1278457757620398 2025-08-18 16:28:10 BST 147 92.4200 XLON 1278457757620407 2025-08-18 16:28:16 BST 27 92.4200 XLON 1278457757620425 2025-08-18 16:28:19 BST 70 92.4400 XLON 1278457757620431 2025-08-18 16:28:20 BST 1 92.4400 XLON 1278457757620433 2025-08-18 16:28:50 BST 53 92.5000 XLON 1278457757620534 2025-08-18 16:28:50 BST 12 92.5200 XLON 1278457757620535 2025-08-18 16:28:50 BST 28 92.5200 XLON 1278457757620536 2025-08-18 16:28:50 BST 147 92.5200 XLON 1278457757620537 2025-08-18 16:28:50 BST 15 92.5200 XLON 1278457757620538 2025-08-18 16:28:50 BST 60 92.5200 XLON 1278457757620539 2025-08-18 16:28:50 BST 60 92.5000 XLON 1278457757620540 2025-08-18 16:28:50 BST 30 92.5200 XLON 1278457757620541 2025-08-18 16:28:50 BST 24 92.5000 XLON 1278457757620542 2025-08-18 16:29:03 BST 19 92.5000 XLON 1278457757620601 2025-08-18 16:29:03 BST 147 92.5000 XLON 1278457757620602 2025-08-18 16:29:03 BST 26 92.5000 XLON 1278457757620603 2025-08-18 16:29:03 BST 60 92.5000 XLON 1278457757620604 2025-08-18 16:29:21 BST 147 92.5200 XLON 1278457757620689 2025-08-18 16:29:21 BST 15 92.5200 XLON 1278457757620690 2025-08-18 16:29:21 BST 34 92.5200 XLON 1278457757620691 2025-08-18 16:29:21 BST 26 92.5200 XLON 1278457757620692 2025-08-18 16:29:22 BST 2 92.5200 XLON 1278457757620695 2025-08-18 16:29:22 BST 147 92.5200 XLON 1278457757620696 2025-08-18 16:29:22 BST 74 92.5200 XLON 1278457757620697 2025-08-18 16:29:22 BST 29 92.5200 XLON 1278457757620698 2025-08-18 16:29:22 BST 32 92.5200 XLON 1278457757620699 2025-08-18 16:29:22 BST 8 92.5200 XLON 1278457757620700 2025-08-18 16:29:22 BST 26 92.5200 XLON 1278457757620715 2025-08-18 16:29:22 BST 147 92.5200 XLON 1278457757620716 2025-08-18 16:29:22 BST 26 92.5200 XLON 1278457757620717 2025-08-18 16:29:22 BST 70 92.5000 XLON 1278457757620718 2025-08-18 16:29:22 BST 61 92.5000 XLON 1278457757620720 2025-08-18 16:29:22 BST 2 92.5000 XLON 1278457757620721 2025-08-18 16:29:27 BST 19 92.5000 XLON 1278457757620745 2025-08-18 16:29:27 BST 2 92.5000 XLON 1278457757620746 2025-08-18 16:29:40 BST 32 92.5200 XLON 1278457757620801          

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CFTC Swaps Report Update

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.

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U.S. Department Of The Treasury Issues Request For Comment Related To The Guiding And Establishing National Innovation For U.S. Stablecoins (GENIUS) Act

Today, the U.S. Department of the Treasury issued a Request for Comment required by the GENIUS Act, which furthers the Administration’s policy of supporting the responsible growth and use of digital assets, as outlined in Executive Order (E.O.) 14178 on “Strengthening American Leadership in Digital Financial Technology.”  Today’s request for comment fulfills Treasury’s obligation pursuant to section 9(a) of the GENIUS Act, which creates a comprehensive regulatory framework for stablecoin issuers in the United States. The GENIUS Act and E.O. 14178 together promote U.S. leadership in digital assets and bolster U.S. national security.  This request for comment offers the opportunity for interested individuals and organizations to provide feedback on innovative or novel methods, techniques, or strategies that regulated financial institutions use, or could potentially use, to detect illicit activity involving digital assets.  In particular, Treasury asks commenters about application program interfaces, artificial intelligence, digital identity verification, and use of blockchain technology and monitoring. Innovative tools are critical to advancing efforts to address illicit finance risks but can also present new resource burdens for financial institutions.  As required by the GENIUS Act, Treasury will use public comments to inform research on the effectiveness, costs, privacy and cybersecurity risks, and other considerations related to these tools.  As provided in Section 9(a) of the GENIUS Act, members of the public should submit comments within 60 days of publication in the Federal Register by October 17. Comments responding to this request will be publicly viewable at www.regulations.gov.

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SIFMA Updates Model Bond Purchase Agreements For Negotiated Municipal Securities Underwritings

SIFMA today published its updated SIFMA Model Bond Purchase Agreement for Negotiated Municipal Securities Underwritings.  The agreement is intended for use in connection with governmental tax or revenue-supported securities, including fixed, variable rate, auction and credit enhanced securities, and is not intended for use in connection with conduit financing transactions.  It has two parts, the Terms and Acceptance document and the General Provisions and Conditions document. “SIFMA is pleased to provide the marketplace with an updated model bond purchase agreement for municipal securities” said Leslie Norwood, managing director, associate general counsel and head of municipal securities at SIFMA.  “We have updated the agreement to reflect changing regulatory and market events, such as language regarding issue price certificates.  As always, however, each firm should make their own independent decisions about how they will compete in the marketplace.” The updated documents are available at the following links: Municipal Securities – Model Bond Purchase Agreement: Terms and Acceptance Municipal Securities – Model Bond Purchase Agreement: General Provisions and Conditions

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SIFMA Fixed Income Market Close Recommendation In The U.S., The U.K., And Japan For U.S. Labor Day Holiday

SIFMA has confirmed its previous holiday recommendation for a full market close on Monday, September 1, 2025, for the trading of U.S. dollar-denominated fixed income securities in the U.S., the U.K., and Japan in observance of the U.S. Labor Day holiday. These recommendations apply to trading of U.S. dollar-denominated government securities, mortgage- and asset-backed securities, over-the-counter investment-grade and high-yield corporate bonds, municipal bonds and secondary money market trading in bankers’ acceptances, commercial paper and Yankee and Euro certificates of deposit. SIFMA’s recommended early and full market closes are recommendations only; each member firm should decide for itself whether its fixed income departments remain open for trading. All SIFMA recommendations are subject to change due to market conditions.

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Canadian Investment Regulatory Organization Detects Cybersecurity Threat

On August 11, 2025, CIRO identified a cybersecurity threat. As a precaution, CIRO proactively shut down some of its systems to ensure their safety and immediately started an investigation. Throughout this time, critical functions remained available. CIRO’s real-time equity market surveillance operations continue as normal, with no active threat in our systems.  The investigation is ongoing and CIRO is working with external cybersecurity and legal experts, and law enforcement. On August 17, preliminary investigative results indicated that some personal information of member firms and their registered employees was affected. Given the high standard of security that CIRO expects of both itself and its members, we are deeply concerned about this, and know our members will be too. Our priority is to actively investigate which individual registrants may have been affected and once determined, to notify those individuals directly and provide risk mitigation services. More information will be made available in due course. It is important to note that Canadians’ investments are not at risk. CIRO only receives information about a sample of investors through its member compliance functions. If the investigation reveals that any investor’s information was affected, CIRO will notify them and provide risk mitigation services.

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The EBA Publishes Its Final Standards For Off-Balance Sheet Items Conversion Factors

The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) on the allocation of off-balance sheet items and the specification of factors that might constrain institutions’ ability to cancel unconditionally cancellable commitments considerations. Under the standardised approach of credit risk, the exposure values of off-balance exposure depend on the application of certain percentages, which in turn rely on a bucket classification. With these draft RTS the EBA introduced assignment criteria for off-balance sheet items not already assigned to any buckets in line with the Annex I of the Capital Requirements Regulation (CRR). These assignment criteria aim at distinguishing between different levels of conversion probability, leveraging on the existence of financial covenants, conditions related to non-credit related events, and the optionality the obligor has in drawing or not the off-balance sheet item. Furthermore, the EBA provided non-exhaustive list of examples to support institutions in classifying their off-balance sheet items. the final draft RTS also introduce four factors to be considered as constraining institutions’ ability to cancel an unconditionally cancellable commitment that relate to risk management processes, commercial considerations as well as to reputational and litigation risks. Finally, the EBA proposed to implement the notification process of off-balance sheet items not already included in Annex I via the COREP framework to minimise the reporting burden. Legal basis and background The draft RTS have been developed according to Article 111(8) of Regulation (EU) No 575/2013 (CRR). Article 111 of the CRR sets out the provisions to determine exposure values under the Standardised Approach for Credit Risk, including the specification for off-balance sheet items, where exposure values are derived from nominal values and the application of certain percentages. The applicable percentage for any off-balance sheet item is derived via a mapping into five buckets specified in Annex I of the CRR. Those percentages are related to the likelihood that an off-balance sheet item exposes the institution to the risk of credit losses in case of a default.    Documents Draft Regulatory Technical Standards on the allocation of off-balance sheet items and the specification of factors that might constrain institutions’ ability to cancel unconditionally cancellable commitments (822.22 KB - PDF) Related content Draft Regulatory Technical StandardsFinal draft RTS/ITS adopted by the EBA and submitted to the European Commission Regulatory Technical Standards on the allocation of off-balance sheet items and UCC considerations Topic Credit risk  

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Archax And Stellar Cement Strategic Collaboration For Tokenised RWAs - Stellar Invests In Archax, As Part Of Closer Collaboration

Archax, the UK regulated digital asset exchange, broker and custodian, today announced a strategic partnership with the Stellar Development Foundation (SDF), that supports the layer-one blockchain network Stellar. Under the terms of this partnership, SDF has made a direct investment into Archax Group to support Archax’s mission to bridge traditional finance and blockchain.  Archax has recently completed a series of milestones on the Stellar network; including tokenising an Aberdeen Money Market Fund and integrating Stellar into Archax’s tokenisation engine and platform. Archax’s extensive network of financial institutions will be able to bring more tokenised real-world assets (RWAs) to the Stellar network.  The strategic rationale is the rapid scaling of the tokenisation market, as TradFi organisations see the benefits of adopting blockchain technology, tokenisation and moving assets ‘onchain.’ RWA tokenisation growth has been little short of explosive; expanding from $15.2 billion in December 2024 to over $24 billion by June 2025, representing an 85% year-on-year increase**. Archax is at the forefront of this growth, with its unique and expanding international regulatory moat, as well as its focus on bridging traditional markets into the digital/crypto/DeFi space.  Graham Rodford, CEO and co-founder of Archax, comments: “The Archax vison has always been that all financial instruments will move onchain, and we find ourselves at a pivotal point right now, because institutional adoption of digital assets is vastly accelerating. 86%* of institutions now have digital assets allocations or are planning to by the end of 2025. That’s huge. Having established, credible partners and investors from the crypto world is a fundamental part of our strategy, and we are excited to welcome Stellar into that family. We look forward to bringing even more institutions and real-world assets onto the platform too.”  Raja Chakravorti, Chief Business Officer at the Stellar Development Foundation comments: "Real-world assets are moving onchain because costs are lower and transactions can move anywhere around the globe in seconds. The Stellar network was purpose built to enable fast settlement times, low costs, and the tokenisation of real-world assets that is the future of finance. The Stellar Development Foundation is proud to have invested in Archax and excited about where this collaboration can go from here."  Archax also recently announced working with Lloyds Bank and Aberdeen Asset Management to use tokenised money-market funds as an acceptable form of collateral, to post as margin across the Archax Nest collateral transfer network, for FX trades.   “The project with Lloyds Bank and Aberdeen is the perfect example of the innovation and benefits that can come from tokenising RWAs - as a result of this new partnership, this could now be done using the Stellar blockchain”, adds Rodford. “We have over 100 funds now available in token form from many leading asset managers. These are all available on Stellar now too.” 

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Record First Half At ICE Bonds For Corporate And Municipal Bond Trading - Registers First Spread-Based Click-To-Trade Corporate Bond Order

Intercontinental Exchange (NYSE: ICE), a leading global provider of technology and data, today announced record trading volume in the first half of 2025 for corporate bond and municipal bond trading on the ICE Bonds’ electronic execution platforms. Trading on ICE Bonds reached record notional volume of $120 billion for corporate bonds in the first half of 2025, up 20% from the first half of 2024. Municipal bond trading reached record notional volume of $109 billion in the first half of 2025, up 35% from the first half of 2024. “We’re pleased to see the strong activity in the first half of the year, which marks the fourth consecutive year of volume increases in our corporate and municipal bond markets,” said Peter Borstelmann, President of ICE Bonds. “This growth is in line with the progress we’ve made over the last few years expanding the functionality on our platforms and building out our institutional and wealth management network of customers.” ICE Bonds also recently recorded its first spread-based click-to-trade order, which blends the spread-based pricing protocol that institutional investors use with the click-to-trade execution protocol that is predominantly used by retail investors and wealth managers. This offers our market participants the risk management benefits of quotes priced at a spread to Treasuries, along with the ease of use and access that click-to-trade offers investors of all types. It also allows market participants to leverage the most efficient technology to access the growing volume of smaller-sized trades that we have seen become more prevalent in the fixed income market. ICE Bonds offers deep liquidity pools that support multiple trading protocols including click-to-trade, sweeps, auctions and request for protocol (RFQ), with a vast breadth of fixed income data. ICE Bonds recently launched a new RFQ protocol for Mortgage-Backed Securities (MBS), which sits alongside ICE Bonds’ existing MBS Click-to-Trade marketplace and allows clients to send MBS RFQs within ICE TMC’s anonymous trading pool. ICE’s evaluated pricing and analytics power those protocols, offering transparency and support across pre-trade, trade and post-trade workflows. Focused on execution efficiency, ICE Bonds enables both anonymous and disclosed counterparty interactions, and trading from odd-lots to blocks for Corporates, Municipals, Agencies, Treasuries and Certificates of Deposit. For more information about ICE Bonds, please visit https://www.ice.com/fixed-income-data-services/fixed-income/ice-bonds.

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Cboe Appoints Prashant Bhatia To Lead Enterprise Strategy & Corporate Development

Cboe Global Markets, Inc. (Cboe: CBOE), the world's leading derivatives and securities exchange network, today announced it has appointed Prashant Bhatia as Executive Vice President, Head of Enterprise Strategy & Corporate Development, effective September 2, 2025. In this role, Mr. Bhatia will partner with Cboe's executive leadership team to develop and execute the company's enterprise business strategy, helping the company to focus on identifying high-impact opportunities for growth and further strengthening Cboe's position as an industry leader. "Prashant will be a highly valued addition to our leadership team as he works with us to refine our strategy, optimize our business, and explore new growth opportunities for Cboe. His keen understanding of our competitive landscape and his rigorous approach to financial decision-making will further enhance our ability to deliver long-term growth to our shareholders," said Craig Donohue, Chief Executive Officer of Cboe Global Markets. Prashant Bhatia said: "I am pleased to join Cboe's impressive leadership team and look forward to collaborating with them to explore new growth opportunities that position Cboe for continued success."  Mr. Bhatia has advised the management team and worked closely with Cboe's board of directors since December 2023. He previously led Enterprise Strategy & Corporate Development at TD Ameritrade for 11 years during a period of transformative organic and acquisition-driven growth. Earlier in his career, he served as an equity research analyst covering the financial services industry, with a focus on brokers and asset managers. He brings more than 30 years of global experience in the financial services sector.

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