Cboe’s Ed Tilly elected chairman of WFE, replacing SIX’s Rüegsegger

Rick Steves

Of its members, 37 percent are spread across the Asia-Pacific region, 43 percent in Europe, Middle East and Africa, and 20 percent are in the Americas.

Cboe’s Chairman, President and CEO Ed Tilly has been appointed Chairman of the World of Federation of Exchanges (WFE) as the entity named other nine members of the board.

The global industry group lobbies on behalf of exchanges and clearinghouses (CCPs) around the world.

Mr. Tilly, who was previously Vice Chairman of the WFE from 2018 to 2021, began serving a two-year term as Chairman where he will guide the board and 250 member organizations to advance WFE’s mission.

The Federation works to support and promote the development of fair, transparent, stable, and efficient markets around the world.

Mr. Tilly and WFE CEO Nandini Sukumar will work together with its members to create and agree on best practices and standards for the industry.

Ed Tilly, Chairman, President and CEO of Cboe Global Markets, said: “I am deeply honored to have the privilege to serve as the new Chairman of the WFE. Cboe has been a longstanding member of the WFE and shares a common vision for promoting markets that serve all investors.

“I look forward to working even more closely with Nandini and the WFE board and its members as a collective force to ensure the integrity of global markets, advocate for smart and efficient regulation, support measures that facilitate global capital flow, drive the transition towards an inclusive and sustainable economy, and speak as one clear and powerful voice for our industry.”

Nandini Sukumar, CEO of the WFE, said: “We are pleased to welcome Ed as Chairman of the WFE. Ed brings many years of industry experience and a passion and commitment to our mission, and we look forward to furthering our progress under his chairmanship. We would like to also express immense gratitude to Dr. Urs Rüegsegger, the outgoing chairman, who has been a great champion of our industry and of the WFE.

“He has been instrumental in making us the voice of the industry. Exchanges and CCPs will continue to play a vital role in fostering a sustainable financial system and in ensuring the integrity and stability of our markets. As market infrastructure continues to evolve globally, the WFE remains committed to its mission of maintaining resilient, open and interconnected markets across the world.”

Dr. Urs Rüegsegger, Chairman of SIX Swiss Exchange and outgoing Chairman of the WFE, said: “I have enjoyed working with Ed during our tenures at the WFE and wish him the best of luck as he takes the helm as Chairman. I have no doubt that he and Nandini will continue to successfully guide the WFE board in its work to further promote the development of well-regulated and transparent markets, serve its members, and position the WFE as the world’s most important advocacy group for exchanges and CCPs globally.”

The WFE represents more than 250 market-infrastructures ranging from those that operate the largest financial centers to those that run frontier markets.

Of its members, 37 percent are spread across the Asia-Pacific region, 43 percent in Europe, Middle East and Africa, and 20 percent are in the Americas.

Members include over 50 distinct CCP clearing services, among them stand-alone CCPs. WFE exchanges are home to 47,919 listed companies, and the market capitalization of these entities is over $109 trillion.

The World Federation of Exchanges elected 10 Directors of the Board, including a new Chairman, Vice Chairman and Working Committee Chairman at the 60th General Assembly:

Mr Edward Tilly, Chairman, President & CEO, Cboe Global Markets – Chairman, the WFE (2-year term)
Mr Boon Chye Loh, CEO, Singapore Exchange – Vice Chairman, the WFE (2-year term)
Mr Jos Dijsselhof, CEO, SIX Group – Working Committee Chairman, the WFE (2-year term)
Mr Gilson Finkelsztain, CEO, B3 (Brasil Bolsa Balcão) – Director, Americas region (3-year term)
Mr Edward Knight, Vice Chairman, Nasdaq – Director, Americas region (3-year term)
Mrs Laura Cha, Chairman, Hong Kong Exchanges and Clearing – Director, Asia-Pacific region (3-year term)
Mr Vikram Limaye, Managing Director & CEO, National Stock Exchange of India – Director, Asia-Pacific region (3-year term)
Mr Korkmaz Ergun, Chief Executive Officer, Borsa Istanbul – Director, EMEA region (3-year term)
Mr Oscar Onyema, Group CEO, Nigerian Exchange Group – Director, EMEA region (3-year term)
Eng. Khalid Abdullah Al Hussan, CEO, Saudi Tadawul Group – Director, EMEA region (3-year term)

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