Welcome to the Coastal Flooding Adaptation & Resilience (COFAR) University Challenge Webinar, organised by the Securities Commission Malaysia (SC), in collaboration with ICAEW Malaysia. Click here for full details.

ICE Mortgage Technology, neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released its August 2025 Mortgage Monitor report. ICE data reveals that mortgage originations had their highest quarterly volume since 2022, with both purchase and cash-out refinance activity nearing three-year highs. At the same time, total and tappable home equity volumes were the highest on record. “Homeowners are actively drawing on record equity with cash-out refinance loans, signaling increased demand despite elevated rates,” said Andy Walden, Head of Mortgage and Housing Market Research at ICE. “Meanwhile, a substantial cohort of people who purchased homes over the last three years are watching on the sidelines for rates to drop so they can refinance into a lower monthly payment.” Cash-out refinances drive the majority of refinance activityCash-out refinances accounted for 59% of all refinance transactions in the second quarter. Notably, 70% of those borrowers accepted higher interest rates, averaging a 1.45 percentage point increase, in exchange for tapping an average of $94,000 in home equity. These borrowers saw monthly payments increase by about $590. Cash-out borrowers tended to have lower average credit scores (719) and smaller loan balances ($188,000) compared to their rate-and-term counterparts. See the full report for more detail. Home equity hits record highTappable equity hit another record high in Q2, with borrowers entering Q3 with a record $17.8 trillion in total equity, including $11.6 trillion in tappable equity that can be accessed while maintaining a 20% cushion. Roughly 48 million mortgage holders had tappable equity, with the average homeowner holding $213,000 in accessible value. Slowing home prices may signal plateauing equity growthWhile equity levels remain high, the pace of home equity growth has slowed to its lowest rate in two years. This deceleration is largely attributable to declining home prices in key Sunbelt and Western markets. Cities like Austin (-38%) and Deltona, Fla. (-37%) have seen tappable equity per borrower fall by more than 25% from recent peaks. Nearly one-quarter of U.S. markets have experienced at least a 5% drop in tappable equity. Additionally, about 1% of mortgage holders – roughly 564,000 borrowers – now owe more than their homes are worth. Homeowners turning to cash-out refinances in Q2 posed challenges – and opportunities – for mortgage servicers seeking to retain homeowners’ business. Retaining cash-out borrowers a challenge for mortgage servicers Cash-out prospects can be difficult to identify using rate-based triggers alone, and as a result, retention for these loans hit a more-than-four-year low. This brought down overall refinance retention to 23%, the lowest level since Q2 2024. Despite these challenges, Q2 also featured bright spots for mortgage servicers. Retention rates among borrowers who purchased in 2024 came in at 43% – nearly double the market average – showing that lenders who are top-of-mind with borrowers are more likely to win repeat business. “As homeowners increasingly look to access their equity, lenders and servicers need tools that help reach them first,” said Tim Bowler, President of ICE Mortgage Technology. “By embedding refinance capabilities within the servicing experience – as we did with the newest integration between our MSP® servicing and Encompass® loan origination systems – we offer customers a powerful way to stay ahead of borrower intent when timing is everything. Additionally, our robust data and analytics enable customers to move beyond simple rate-drop targeting to strengthen retention.” The full August Mortgage Monitor report contains a deeper analysis of June mortgage performance, mortgage origination opportunities and trends, and a housing market update featuring July ICE Home Price Index (HPI) data. Further detail, including charts, can be found in this month’s Mortgage Monitor report.

Climate Finance Innovation Lab (CFIL) received strong interest and offers a strategic platform for collaboration among diverse stakeholders.  Support collaborative efforts to implement National Sustainability Reporting Framework (NSRF) across the financial sector. Bridge existing data gaps to improve risk assessment and transition planning. Enhance SME resilience through sector-specific capacity building on climate risks and low-carbon business models. The Joint Committee on Climate Change (JC3), co-chaired by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC), held its 15th meeting on 7 August 2025. The meeting welcomed nine new members. The refreshed representation reflects a more diverse and inclusive cross-section of the financial sector.  At this meeting, members discussed the impact of geopolitical developments on the global supply chain, in particular the pace of de-carbonisation, that is reshaping the climate landscape. Members underscored the importance of adopting a pragmatic pathway towards net zero, acknowledging the significant pressures on global supply chains and the current limitations of technological readiness. Notwithstanding, they affirmed that these global transitions present a timely opportunity for the region to demonstrate leadership in advancing sustainable finance and accelerating climate action. JC3 members further reaffirmed their commitment to climate action and building long-term climate resilience.  Members recognised the positive momentum and continued progress on ongoing efforts. The Climate Finance Innovation Lab (CFIL), launched in June 2025, has received strong interest from project owners and wide range of potential funders. This includes strategic ASEAN projects such as the ASEAN Power Grid and 16 other projects across the four thematic areas namely energy transition, circular economy, sustainable agriculture as well as biodiversity and nature-based solutions. JC3 members expressed their commitment to supporting projects under CFIL and were forthcoming in providing funding and financial protection as well as technical expertise. BNM Assistant Governor and JC3 Co-Chair Madelena Mohamed said, ‘We must act now and decisively by scaling up climate finance and nature-positive initiatives in Malaysia. The strong interest in CFIL by project owners and the financial sector is encouraging, but to truly move the needle, broader and deeper industry participation is crucial.’ Members also discussed the plan for a unified Malaysian Taxonomy on Sustainable Finance (Malaysia Taxonomy). Through JC3, the financial regulators and industry will collaborate to co-develop the Malaysian Taxonomy alongside relevant stakeholders and ministries. The taxonomy will progress from a principles-based approach, to utilising science-based technical screening criteria and quantitative thresholds to advance the accuracy and quality of assessment. This taxonomy will also be aligned with the ASEAN Taxonomy. JC3 is also committed to supporting the collaborative efforts of the Advisory Committee on Sustainability Reporting (ACSR) in implementing the National Sustainability Reporting Framework (NSRF) across the financial sector. JC3 is also exploring the development of a guidance document or use cases for the financial sector to assist industry players in meeting NSRF disclosure expectations. In line with its continued commitment to address data challenges, JC3 will be publishing the fourth iteration of the JC3 Data Catalogue in November this year. The updated version will reflect feedback from stakeholders on data gaps and other collaborative efforts undertaken by the financial sector in addressing these gaps. JC3 will also continue to advocate for greater access to public data as well as capacity building efforts on climate data-related matters. SC Executive Director and JC3 Co-Chair Salmah Bee Mohd Mydin said, ‘Climate-related data continues to be an important focus area to ensure effective mobilisation of capital especially for adaptation financing. Efforts to ramp up the availability and accessibility of climate-related data also support companies’ ability to make effective disclosures under the National Sustainability Reporting Framework (NSRF).’ This year, JC3 will host its inaugural climate conference for SMEs on 17 November at Sasana Kijang. Themed ‘Building Climate Resilience: Practical Actions for SMEs’, the event aims to support SMEs in their climate transition. The conference focuses on climate-related risks and opportunities for SME to understand green and sustainable practices better. It will also offer practical tools and solutions designed specifically for SMEs. Attendees will also benefit from networking opportunities. For more information on the conference, please visit the JC3’s website at www.jc3malaysia.com. JC3 members also reaffirmed their continued support for the Government’s efforts to build a more climate-resilient economy envisaged in the various national policies including the recently released 13th Malaysia Plan.

The Mondo Visione Exchange Index closed July 2025 at 97,725.87 points, reflecting a 2.9% decline from June’s close of 100,658.12 points. Despite the overall drop, the index hit an all-time high of 100,971.49 on July 7, before retreating by month-end.   The top 5 exchanges by market capitalization at the end of July were:  Intercontinental Exchange (USD 106.18bn) CME Group (USD 100.28bn)  Hong Kong Exchanges & Clearing (USD 68.96bn)  London Stock Exchange Group (USD 64.86bn) Nasdaq (USD 55.24bn) Tanzania’s Dar es Salaam Stock Exchange led the month with an impressive 26.7% increase in capital returns (USD terms), followed by Boursa Kuwait Securities (+14.6%) and Greece’s Hellenic Exchanges SA (+13.9%). Conversely, the London Stock Exchange Group and Brazil's B3 both recorded sharp declines of 15.9%, alongside India's Multi Commodity Exchange, which fell 15.8%.   Herbie Skeete, Managing Director of Mondo Visione and Co-founder of the Index, commented:  “July highlighted mixed performance across global exchanges as trade and tariff uncertainty weighed on market sentiment. The London Stock Exchange Group saw its first-half profits rise, but its Annual Subscription Value (ASV) growth slowed to 5.8% on an organic, constant currency basis by the end of June, down from 6.4% in Q1. Competitive pressures and evolving customer preferences are expected to further impact ASV growth.”   For a detailed breakdown of July’s performance, click here to download the full report.   Performance Chart Of The FTSE Mondo Visione Exchanges Index (USD Capital Return) Source: FTSE Group, data as at 31 July 2025 Monthly FTSE Mondo Visione Exchanges Index Performance (Capital Return, USD)   July 2014 3.1% August 2014 2.3% September 2014 -3.6% October 2014 2.8% November 2014 2.5% December 2014 -0.5% January 2015 -1.0% February 2015 8.5% March 2015 0.0% April 2015 10.7% May 2015 0.1% June 2015 -3.2% July 2015 -2.7% August 2015 -5.3% September 2015 -2.1% October 2015 7.6% November 2015 0.4% December 2015 -2.2% January 2016 -4,7% February 2016 -0.7% March 2016 6.7% April 2016 0.4% May 2016 1.8% June 2016 -2.2% July 2016 5.3% August 2016 2.3% September 2016 -1.6% October 2016 -1.6% November 2016 2.1% December 2016 0.1% January 2017 6.0% February 2017 -0.8% March 2017 1.4% April 2017 0.8% May 2017 1.6% June 2017 5.6% July 2017 2.7% August 2017 0.3% September 2017 3.6% October 2017 -0.7% November 2017 6.4% December 2017 -0.7% January 2018 10% February 2018 -0.5% March 2018 -1.6% April 2018 -1.0% May 2018 -1.5% June 2018 -0.8% July 2018 -0.7% August 2018 2.4% September 2018 -1.7% October 2018 1.0% November 2018 3.1% December 2018 -4.2% January 2019 5.4% February 2019 1.7% March 2019 -2.6% April 2019 4.6% May 2019 1.5% June 2019 4.3% July 2019 2.2% August 2019 3.7% September 2019 -0.8% October 2019 2.0% November 2019 -0.5% December 2019 1.6% January 2020 5.0% February 2020 -7.4% March 2020 -11.5% April 2020 8.0% May 2020 6.7% June 2020 2.3% July 2020 6.6% August 2020 4.9% September 2020 -5.2% October 2020 -6.7% November 2020 8.9% December 2020 7.2% January 2021 0.8% February 2021 1.4% March 2021 -2.7% April 2021 3.3% May 2021 2.5% June 2021 0.4% July 2021 0.4% August 2021 0.1% September 2021 -4.2% October 2021 5.9% November 2021 -5.6% December 2021 4.9% January 2022 -2.2% February 2022 -3.5% March 2022 3.5% April 2022 -8.6% May 2022 -5.1% June 2022 -0.7% July 2022 2.4% August 2022 -3.9% September 2022 -8.8% October 2022 -1.1% November 2022 11.5% December 2022 -2.9% January 2023 3.8% February 2023 -4.1% March 2023 5.0% April 2023 0.9% May 2023 -3.9% June 2023 3.8% July 2023 4.6% August 2023 -2.3% September 2023 -3.0% October 2023 -0.6% November 2023 7.7% December 2023 3.8% January 2024 -2.7% February 2024 4.3% March 2024 -0.1% April 2024 -3.8% May 2024 1.3% June 2024 -0.4% July 2024 3.2% August 2024 8.2% September 2024 4.7% October 2024 -1.2% November 2024 2.6% December 2024 -3.1% January 2025 4.3% February 2025 5.6% March 2025 2.2% April 2025 3.5% May 2025 4.4% June 2025 0.8% July 2025 -2.9%   About FTSE Mondo Visione Exchanges Index The FTSE Mondo Visione Exchanges Index, a joint venture between FTSE Group and Mondo Visione, was established in 2000. It is the first Index in the world to focus on listed exchanges and other trading venues. The FTSE Mondo Visione Exchanges Index compares performance of individual exchanges and trading platforms and provides a reliable barometer of the health and performance of the exchange sector. It enables investors to track 33 publicly listed exchanges and trading floors and focuses attention of the market on this important sector. The FTSE Mondo Visione Exchanges Index includes all publicly traded stock exchanges and trading floors: Australian Securities Exchange Ltd B3 SA Bolsa de Comercio Santiago Bolsa Mexicana de Valores SA Boursa Kuwait Securities BSE Bulgarian Stock Exchange Bursa de Valori Bucuresti SA Bursa Malaysia Cboe Global Markets CME Group Dar es Salaam Stock Exchange PLC Deutsche Bourse Dubai Financial Market Euronext Hellenic Exchanges SA Hong Kong Exchanges and Clearing Ltd Intercontinental Exchange Inc Japan Exchange Group, Inc Johannesburg Stock Exchange Ltd London Stock Exchange Group Multi Commodity Exchange of India Nairobi Securities Exchange Nasdaq New Zealand Exchange Ltd Philippine Stock Exchange Saudi Tadawul Group Singapore Exchange Ltd Tel Aviv Stock Exchange TMX Group Warsaw Stock Exchange Zagreb Stock Exchange The FTSE Mondo Visione Exchanges Index is compiled by FTSE Group from data based on the share price performance of listed exchanges and trading platforms.

Singapore Exchange (SGX Group) today reported strong growth momentum in July to kick off its FY2026, as robust securities and derivatives market activity reflected investor confidence across multiple asset classes. Securities market turnover rose 27% year-on-year (y-o-y) in July to S$33.8 billion, the highest in three months, while securities daily average value (SDAV) climbed 27% y-o-y to S$1.47 billion. Derivatives traded volume increased 25% y-o-y to 29.3 million contracts, with derivatives daily average volume (DAV) up 23% y-o-y at about 1.3 million contracts. Key highlights: STI sets records: The bellwether Straits Times Index (STI) advanced 5.3% month-on-month (m-o-m) in July to 4,173.77, outperforming most ASEAN peers, and closed at a record high of 4,273 on 24 July. Cash SDAV gained 19% m-o-m with an increase in liquidity across all stock segments. Small- and mid-caps outperform: Liquidity in small- and mid-cap stocks surged 94% m-o-m to S$261 million, accounting for most of the jump in turnover. The segment outperformed the STI, with the FTSE ST Small Cap Index and the FTSE ST Mid Cap Index gaining 9.9% m-o-m and 6.7% m-o-m, respectively. Retail was the fastest-growing client segment, while institutions net-purchased S$62 million of small- and mid-caps for a sixth consecutive month, following the first set of Equities Market Review Group measures announced in February. Listings momentum accelerates: July saw listings momentum continuing to build, with Singapore real-estate investment trust (REIT) NTT DC REIT and leading cloud-based software provider Info-Tech Systems Ltd. joining Mainboard, while Chinese specialty pharmaceutical company China Medical System Holdings Limited marked its secondary listing. During the month, Lum Chang Creations Limited, a spinoff from Mainboard-listed real-estate developer Lum Chang Holdings, joined Catalist. ETFs growth amid expansion of China offering: SGX Securities in July welcomed the listing of Amova E Fund ChiNext Index ETF under the SZSE-SGX ETF Link with Shenzhen Stock Exchange, the 10th exchange-traded fund (ETF) under the landmark cross-border link. Total ETF assets-under-management (AUM) grew 36% y-o-y to S$14.9 billion, with combined AUM of the two STI-tracking ETFs surpassing S$3 billion for the first time. Sustained Singapore equities upswing: As Singapore’s equity market continued its positive trajectory, MSCI Singapore Index extended its rally for a third straight month in July, underscoring investor confidence in the resilience and growth potential of Singapore-listed companies. DAV of SGX MSCI Singapore Index Futures rose 16% m-o-m to 48,137 contracts (US$1.6 billion notional) as month-end open interest (OI) climbed to a record US$7.1 billion, with institutional investors increasingly positioning for further upside amid favourable policy developments and earnings momentum. Broad-based gains across commodities suite: Total commodities traded volume rose 76% y-o-y in July to 9 million contracts – an all-time high – with increases across benchmark iron ore and freight derivatives as well as petrochemicals contracts. Iron ore DAV climbed to a record 362,755 lots, with average OI for the month at close to 3.5 million lots. The volume of forward freight agreements (FFA) gained 56% y-o-y to the highest since March 2024. The unique SGX Commodities offering enables market participants to risk-manage both cargo and freight on a single liquid and capital-efficient platform. More FX futures hedging activity: SGX INR/USD FX Futures traded volume rose 41% y-o-y in July to 2.2 million contracts as participants managed risk on the back of uncertainty around India-U.S. trade negotiations. SGX USD/CNH FX Futures volume climbed 7% y-o-y to 3.1 million contracts amid heightened volatility, with the yuan reaching an eight-month high against the U.S dollar in the earlier part of the month before losing ground after data signaled a slowdown in China’s manufacturing sector. The full market statistics report can be found here.