Conference Programme

  • Pre-Conference Tour

    • 08:00 - 20:00

      Pre-Conference Tour

      (Information can be found here)

    • 08:00 - 17:00

      Registration

      All participants

      Venue:  Mandarin Oriental, Kuala Lumpur 

      Dress code for all events: Business casual

    • 09:00 - 13:00

      Securities Commission (SC) Malaysia and World Federation of Exchanges (WFE) Dialogue

      WFE Members & Speakers only

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • John
        John McKenzie Chief Executive Officer, TMX Group, & Chair WFE Working Committee
      • John McKenzie

        Chief Executive Officer, TMX Group, & Chair WFE Working Committee

        Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

        Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

        From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

        Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.

    • 13:00 - 14:00

      Lunch

      WFE Working Committee Members, Board of Directors, LTPs and Speakers only

    • 14:00 - 17:00

      WFE Board of Directors Meeting

      WFE Board of Directors only

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Boon Chye
        Boon Chye Loh Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015. He is also an Executive and Non-Independent Director on the SGX Board. As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange.

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions. Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017. He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015. He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee. From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation. He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore.

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

      • Jos
        Jos Dijsselhof Chief Executive Officer SIX Group
      • Jos Dijsselhof

        Chief Executive Officer SIX Group

        Jos Dijsselhof joined SIX in January 2018 as CEO. He holds degrees in computer science and business administration, and has a long track record in international management in the financial sector. He has previously held positions at ABN Amro Bank, Royal Bank of Scotland and ANZ Australia & New Zealand Banking Group in various countries including Hong Kong and Singapore. His most recent role was Chief Operating Officer (2014–June 2017) and CEO ad interim (2015) at Euronext in Amsterdam.

        Other Activities and Mandates

        Chairman of the Board of Directors Bolsas y Mercados Españoles (BME), Madrid

        Background

        Before his appointment as COO of Euronext, Dijsselhof was a general manager at Australia and New Zealand Bank in Singapore. He has over 20 years of experience in the financial industry and has worked in Europe and Asia institutions including Royal Bank of Scotland and ABN Amro Bank.

        Education

        Jos Dijsselhof earned a bachelor's degree in computer science from the Stenden University of Applied Sciences and an MSc in business administration from the Amsterdam University of Applied Sciences. He completed the Advanced Management Program at INSEAD.


      • John
        John McKenzie Chief Executive Officer, TMX Group, & Chair WFE Working Committee
      • John McKenzie

        Chief Executive Officer, TMX Group, & Chair WFE Working Committee

        Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

        Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

        From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

        Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.

    • 18:30 - 21:00

      Welcome Reception

      All participants

    • 08:00 - 16:30

      Registration

      All Participants

      Venue:  Mandarin Oriental, Kuala Lumpur 

      Dress code for all events: Business casual

    • 08:00 - 10:00

      WFE General Assembly

      WFE Members only

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Boon Chye
        Boon Chye Loh Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015. He is also an Executive and Non-Independent Director on the SGX Board. As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange.

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions. Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017. He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015. He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee. From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation. He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore.

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

    • 10:00 - 10:15

      Coffee Break

    • 10:15 - 10:30

      Opening Ceremony of the Annual Meeting and Welcome Remarks

      All Participants

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Boon Chye
        Boon Chye Loh Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015. He is also an Executive and Non-Independent Director on the SGX Board. As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange.

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions. Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017. He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015. He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee. From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation. He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore.

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

      • Datuk Muhamad Umar
        Datuk Muhamad Umar Swift Chief Executive Officer Bursa Malaysia
      • Datuk Muhamad Umar Swift

        Chief Executive Officer Bursa Malaysia

        Muhamad Umar Swift is the Chief Executive Officer (CEO) of Bursa Malaysia Berhad, a position he has held since 2019. He serves as the director of all subsidiary companies within the Bursa Malaysia Group and is the Chairman of Bursa Malaysia Derivatives Berhad and Bursa Malaysia Derivatives Clearing Berhad, Bursa Malaysia RAM Capital Sdn Bhd and Yayasan Bursa Malaysia. He is also the Chairman of the CEO Action Network (CAN).

        As CEO of the Exchange, Umar aspires to play a catalytic role in the economy’s transition to green, as expressed in the Exchange’s vision to become “ASEAN’s leading, sustainable and globally-connected marketplace.” His approach to achieving this is underscored in the Exchange’s mission which is to create opportunities, grow value for stakeholders participating in the ecosystem while improving investability for issuers and investors.

        Umar has more than 25 years of leadership experience across multiple industries. Prior to joining the Exchange, he was the CEO/ Group Managing Director of MAA Group Berhad.

        Umar currently serves on the Boards of Securities Industry Development Corporation, Capital Development Market Fund and Malaysia Forest Fund. He is also the advisor for the UN Global Compact Network Malaysia and Brunei, as well as Councillor of the Overseas Regional Council of Malaysia, Chartered Accountants Australia and New Zealand. Besides being a Chartered Accountant with the Malaysian Institute of Accountants, he also holds various fellowships and qualifications in accounting and finance, including Chartered Accountants Australia and New Zealand and CPA Australia, to name a few.

    • 10:30 - 10:45

      Session 1: Special Address


      Introduced by
      • Tan Sri Abdul Wahid
        Tan Sri Abdul Wahid Omar Chairman Bursa Malaysia
      • Tan Sri Abdul Wahid Omar

        Chairman Bursa Malaysia

        Tan Sri Abdul Wahid Omar is currently the Chairman of Bursa Malaysia Berhad. He is regarded as one of the most accomplished corporate leaders in Malaysia having successfully led as CEO three major organisations in infrastructure development (UEM Group 2001 - 2004), telecommunications (Telekom Malaysia 2004 - 2008) and financial services (Maybank 2008 - 2013). He served as Group Chairman of Permodalan Nasional Berhad (PNB) from August 2016 to June 2018 following completion of his term as a Senator and Minister in the Prime Minister’s Department in charge of Economic Planning from June 2013 to June 2016.

        He also currently serves as the Chairman of WWF-Malaysia and MySDG Foundation, Professor of Practice at INCEIF University and as the Sultan bin Abdulaziz Visiting Fellow at the Oxford Centre for Islamic Studies, UK. Tan Sri Abdul Wahid is a member of the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants in England & Wales (ICAEW) and the Malaysian Institute of Accountants (MIA).

      Speaker
      • YAB Dato' Seri Anwar Bin Ibrahim

        Prime Minister of Malaysia
    • 10:45 - 11:00

      Session 2: Keynote: Capital Markets in Malaysia – The Way Forward


      Introduced by
      • Tan Sri Abdul Wahid
        Tan Sri Abdul Wahid Omar Chairman Bursa Malaysia
      • Tan Sri Abdul Wahid Omar

        Chairman Bursa Malaysia

        Tan Sri Abdul Wahid Omar is currently the Chairman of Bursa Malaysia Berhad. He is regarded as one of the most accomplished corporate leaders in Malaysia having successfully led as CEO three major organisations in infrastructure development (UEM Group 2001 - 2004), telecommunications (Telekom Malaysia 2004 - 2008) and financial services (Maybank 2008 - 2013). He served as Group Chairman of Permodalan Nasional Berhad (PNB) from August 2016 to June 2018 following completion of his term as a Senator and Minister in the Prime Minister’s Department in charge of Economic Planning from June 2013 to June 2016.

        He also currently serves as the Chairman of WWF-Malaysia and MySDG Foundation, Professor of Practice at INCEIF University and as the Sultan bin Abdulaziz Visiting Fellow at the Oxford Centre for Islamic Studies, UK. Tan Sri Abdul Wahid is a member of the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants in England & Wales (ICAEW) and the Malaysian Institute of Accountants (MIA).

      Speaker
      • YB Senator Datuk Seri
        YB Senator Datuk Seri Amir Hamzah Azizan Finance Minister II Ministry of Finance
      • YB Senator Datuk Seri Amir Hamzah Azizan

        Finance Minister II Ministry of Finance

        Amir Hamzah Azizan was appointed as the Finance Minister II effective 11 December 2023. Prior to assuming the role of Finance Minister II, he had helmed the Employees Provident Fund (EPF) as Chief Executive Officer since March 2021. 

        With a corporate experience spanning more than 27 years, Amir Hamzah began his career with a decade-long tenure at the Shell Group of Companies. During this period, he held diverse roles in Malaysia, Singapore, and the United Kingdom. Subsequently, he joined MISC Berhad in 2000 and held several senior management portfolios before being appointed as President and Chief Executive Officer in January 2009.

        Following his tenure at MISC Berhad, Amir Hamzah took on the role of Managing Director/Chief Executive Officer of PETRONAS Dagangan Berhad in June 2010. In August 2012, Amir Hamzah joined PETRONAS Lubricants International as Group Managing Director and Chief Executive Officer, concurrently serving as the Vice-President for Downstream Marketing, and subsequently as Vice-President of Lubricants for the PETRONAS Group. 

        In March 2016, Amir Hamzah joined Ekuiti Nasional Berhad (Ekuinas) to steer its investee company Icon Offshore Berhad as Managing Director and Chief Executive Officer. Subsequently, he took on the role of Group Chief Executive Officer at Themed Attractions Resorts and Hotel Sdn Bhd, a subsidiary of Khazanah Nasional Berhad. In April 2019, he further showcased his versatility across industries by taking on the role of President/Chief Executive Officer at Tenaga Nasional Berhad (TNB).

        Amir Hamzah has also contributed to various organisations in non-executive capacities. He formerly served as the Non-Executive Chairman of Malaysian Resources Corporation Berhad (MRCB) and held directorial positions on the boards of Sime Darby Plantation Berhad and Sime Darby Oils International Limited.

        Amir Hamzah holds a Bachelor of Science Degree in Management (majoring in Finance and Economics) from Syracuse University, New York. He has also attended the Stanford Executive Programme at Stanford University, and the Corporate Finance Evening Programme at London Business School.

    • 11:00 - 12:30

      Session 3: What is an Exchange?

      As our industry evolves: exchange, CCP and CSD, what is  the modern exchange and market infrastructure of today? What makes for a good market infrastructure provider? Has that changed? Will those attributes change? Should they change?

      Presentation: Dr Reena Aggarwal, Georgetown University


      Chair
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      Speakers
      • Jos
        Jos Dijsselhof Chief Executive Officer SIX Group
      • Jos Dijsselhof

        Chief Executive Officer SIX Group

        Jos Dijsselhof joined SIX in January 2018 as CEO. He holds degrees in computer science and business administration, and has a long track record in international management in the financial sector. He has previously held positions at ABN Amro Bank, Royal Bank of Scotland and ANZ Australia & New Zealand Banking Group in various countries including Hong Kong and Singapore. His most recent role was Chief Operating Officer (2014–June 2017) and CEO ad interim (2015) at Euronext in Amsterdam.

        Other Activities and Mandates

        Chairman of the Board of Directors Bolsas y Mercados Españoles (BME), Madrid

        Background

        Before his appointment as COO of Euronext, Dijsselhof was a general manager at Australia and New Zealand Bank in Singapore. He has over 20 years of experience in the financial industry and has worked in Europe and Asia institutions including Royal Bank of Scotland and ABN Amro Bank.

        Education

        Jos Dijsselhof earned a bachelor's degree in computer science from the Stenden University of Applied Sciences and an MSc in business administration from the Amsterdam University of Applied Sciences. He completed the Advanced Management Program at INSEAD.


      • Carlston Tong

        Chairman Hong Kong Exchanges & Clearing
    • 12:30 - 14:00

      Lunch

      All Participants

    • 14:00 - 15:00

      Session 4: Beyond the Monopoly Myth: Rethinking Competition in Financial Markets

      Exchanges face intense competition on every front: from private markets & crowd sourcing platforms in primary markets to alternative trading systems and systematic internalizers focused on secondary markets. The data and businesses are highly competitive and exchanges also compete with each other globally and regionally. So why does the myth of the monopoly persist? How do exchanges navigate competition with alternative trading systems? What are the main factors driving companies to seek capital outside of traditional exchange listings? How can regulators ensure a level playing field between exchanges and other markets? What are the risks of pushing companies into alternative markets, and how can they be mitigated? What should be the role of policymakers in balancing competition whilst reducing fragmentation in financial services? In what ways can exchanges innovate to remain attractive to issuers and investors alike?

    • 15:00 - 16:00

      Session 5: Tradition & Innovation: Celebrating the Strengths of Traditional Financial Markets in the Age of Crypto

      “When a tradition gathers enough strength to go on for centuries, you don’t just turn it off one day” - Chinua Achebe. 

      What is the enduring value of traditional financial services, such as exchange trading and central counterparty clearing (CCPs), in contrast to the promises of crypto markets and decentralised finance (DeFi)? What lessons can be drawn from both traditional finance (TradFi) and emerging crypto markets? Why are some innovations, like distributed ledger technology (DLT), yet to achieve widespread adoption. What are the core strengths of traditional financial markets that continue to provide stability and trust to investors? Why has disintermediation in financial services not lived up to its hype, and what risks does it present? How can traditional financial services adapt lessons from crypto markets without compromising on safety and regulation? What are the critical factors holding back the widespread adoption of DLT in traditional financial services? Looking forward, how should traditional financial institutions approach innovation while maintaining their foundational principles?


    • 16:15 - 17:30

      WFE Board of Directors Meeting

      WFE Board Members only

      Speakers
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

      • Boon Chye
        Boon Chye Loh Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015. He is also an Executive and Non-Independent Director on the SGX Board. As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange.

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions. Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017. He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015. He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee. From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation. He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore.

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

      • Jos
        Jos Dijsselhof Chief Executive Officer SIX Group
      • Jos Dijsselhof

        Chief Executive Officer SIX Group

        Jos Dijsselhof joined SIX in January 2018 as CEO. He holds degrees in computer science and business administration, and has a long track record in international management in the financial sector. He has previously held positions at ABN Amro Bank, Royal Bank of Scotland and ANZ Australia & New Zealand Banking Group in various countries including Hong Kong and Singapore. His most recent role was Chief Operating Officer (2014–June 2017) and CEO ad interim (2015) at Euronext in Amsterdam.

        Other Activities and Mandates

        Chairman of the Board of Directors Bolsas y Mercados Españoles (BME), Madrid

        Background

        Before his appointment as COO of Euronext, Dijsselhof was a general manager at Australia and New Zealand Bank in Singapore. He has over 20 years of experience in the financial industry and has worked in Europe and Asia institutions including Royal Bank of Scotland and ABN Amro Bank.

        Education

        Jos Dijsselhof earned a bachelor's degree in computer science from the Stenden University of Applied Sciences and an MSc in business administration from the Amsterdam University of Applied Sciences. He completed the Advanced Management Program at INSEAD.


      • John
        John McKenzie Chief Executive Officer, TMX Group, & Chair WFE Working Committee
      • John McKenzie

        Chief Executive Officer, TMX Group, & Chair WFE Working Committee

        Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

        Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

        From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

        Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.

    • 18:30 - 21:00

      WFE Gala Dinner

      All Participants

    • 08:00 - 16:00

      Registration

      All Participants

      Venue:  Mandarin Oriental, Kuala Lumpur 

      Dress code for all events: Business casual

    • 09:00 - 09:30

      MoU Signing Ceremony

    • 09:30 - 10:30

      Session 6: United We Stand: How can a region grow through collaboration?


      Chair
      • Boon Chye
        Boon Chye Loh Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
      • Boon Chye Loh

        Chief Executive Officer, Singapore Exchange & Chairman, The World Federation of Exchanges
        Mr Loh Boon Chye joined SGX as CEO on 14 July 2015. He is also an Executive and Non-Independent Director on the SGX Board. As CEO, he drives SGX’s growth strategy, with the aim of transforming SGX into a world-class multi-asset exchange.

        Over the years, Mr Loh has played a key role in the development of Southeast Asia’s capital markets, having held a number of senior advisory positions. Apart from his directorship on the SGX Board from 2003 to 2012, he has been on the Boards of GIC Pte Ltd since November 2012, Economic Development Board Singapore since February 2017 and the World Federation of Exchanges since September 2017. He is also Chairman of the Sim Kee Boon Institute for Financial Economics Advisory Board and Co-Chair of the Council for Board Diversity.

        With a career in the financial industry that spans three decades, Mr Loh was most recently Deputy President and Head of Asia Pacific Global Markets at Bank of America-Merrill Lynch from December 2012 to May 2015. He was also the bank’s Country Executive for Singapore and Southeast Asia and a member of its Asia Pacific Executive Committee. From 1995 to 2012, Mr Loh was with Deutsche Bank AG, where he held various leadership roles including Head of Corporate & Investment Banking for Asia Pacific and Head of Global Markets for Asia.

        Mr Loh is a council member and Distinguished Fellow at the Institute of Banking & Finance Singapore and a council member at the Singapore Business Federation. He was also previously Chairman of the Singapore Foreign Exchange Market Committee, as well as Deputy President of ACI Singapore.

        Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

      Speakers
      • Datuk Muhamad Umar
        Datuk Muhamad Umar Swift Chief Executive Officer Bursa Malaysia
      • Datuk Muhamad Umar Swift

        Chief Executive Officer Bursa Malaysia

        Muhamad Umar Swift is the Chief Executive Officer (CEO) of Bursa Malaysia Berhad, a position he has held since 2019. He serves as the director of all subsidiary companies within the Bursa Malaysia Group and is the Chairman of Bursa Malaysia Derivatives Berhad and Bursa Malaysia Derivatives Clearing Berhad, Bursa Malaysia RAM Capital Sdn Bhd and Yayasan Bursa Malaysia. He is also the Chairman of the CEO Action Network (CAN).

        As CEO of the Exchange, Umar aspires to play a catalytic role in the economy’s transition to green, as expressed in the Exchange’s vision to become “ASEAN’s leading, sustainable and globally-connected marketplace.” His approach to achieving this is underscored in the Exchange’s mission which is to create opportunities, grow value for stakeholders participating in the ecosystem while improving investability for issuers and investors.

        Umar has more than 25 years of leadership experience across multiple industries. Prior to joining the Exchange, he was the CEO/ Group Managing Director of MAA Group Berhad.

        Umar currently serves on the Boards of Securities Industry Development Corporation, Capital Development Market Fund and Malaysia Forest Fund. He is also the advisor for the UN Global Compact Network Malaysia and Brunei, as well as Councillor of the Overseas Regional Council of Malaysia, Chartered Accountants Australia and New Zealand. Besides being a Chartered Accountant with the Malaysian Institute of Accountants, he also holds various fellowships and qualifications in accounting and finance, including Chartered Accountants Australia and New Zealand and CPA Australia, to name a few.

      • Ramon Monzon

        President & Chief Executive Officer The Philippine Stock Exchange, Inc.
      • Asadej  Kongsiri

        President  The Stock Exchange of Thailand
      • Iman Rachman

        President Director Indonesia Stock Exchange
    • 10:30 - 11:30

      Session 7: OECD Presentation & Discussion

    • 11:30 - 12:00

      Coffee Break

    • 12:00 - 13:00

      Session 8: The Great Listings Debate: IPO Winter or Emerging Phoenix?

      The IPO market has seen a significant decline in recent years, with 2021 standing out as an exception. What are the key factors driving this trend? Why are we seeing a rising share of IPOs from emerging markets even as private equity continues to grow? Still, in spite of the bleak headlines, companies do still list – why? Is the private equity pipeline becoming more important to the listings business? What is the role of the cross-border IPO. How important are derivatives as a complement to listed equity, including for companies that are newly listed Does the system reward patient capital sufficiently? How important is the role of public price-signalling and short-term liquidity?


      Chair
      • Astrid
        Astrid Ludin Deputy Commissioner Financial Sector Conduct Authority of South Africa
      • Astrid Ludin

        Deputy Commissioner Financial Sector Conduct Authority of South Africa

        Astrid Ludin is a Deputy Commissioner at the Financial Sector Conduct Authority of South Africa since June 2021. Her responsibilities include oversight over financial market and retirement fund supervision. She has more than 25 years of experience in public policy and regulation, and led major law reforms, including the reform of company, consumer protection and credit legislation in South Africa between 2002 and 2007. In her capacity as Deputy Director-General at the dtic, she had policy responsibility for competition, company, intellectual property, consumer protection, credit, gambling, lotteries, and liquor legislation and exercised oversight over the associated regulatory agencies.

        Astrid spent 3 years at the Competition Commission (1999 to 2002), responsible for stakeholder relations, communications, education and voluntary compliance, and was involved in a number of major mergers and investigations. She served as the first Commissioner of the Companies and Intellectual Property Commission (CIPC) between 2011 and 2015, where she oversaw the modernisation of the office and its transformation into a regulatory institution. 

        In various consulting capacities, Astrid has provided research and policy advice to the dtic, the National Treasury, the Prudential Authority, Strate, a range of South African financial services firms, and financial sector regulators in Africa. Her areas of expertise include consumer protection, market conduct and financial market regulation, financial inclusion, financial education and innovation.


      Speakers
      • Edward 
        Edward  Knight Executive Vice Chairman Nasdaq
      • Edward  Knight

        Executive Vice Chairman Nasdaq

        As Executive Vice Chairman, Edward Knight manages global government relations and serves as a senior advisor on public policy and litigation.

        During his tenure as Nasdaq’s General Counsel from 2001 to 2019, Knight championed many causes for investors and public companies: proxy reform; corporate governance modernization, including the JOBS ACT passage in 2012; regulatory reform; immigration reform; and enhancing the self-regulatory organization model. He has worked tirelessly to ensure Nasdaq’s U.S. equity market maintains its position as the premier global marketplace for capital formation.

        Knight currently serves as a member of the Advisory Board of Columbia University’s School of International and Public Affairs and is a member of the District of Columbia, Texas and Supreme Court Bars. He is a life member of the Council on Foreign Relations and sits on its Committee on Corporate Affairs. Knight is Vice Chairman of the Board of the U.S. Chamber of Commerce and Chair of the U.S.-India Business Council. He is also chair of TechNet's Executive Council. He is a member of the Nasdaq Dubai Board and the Board of the World Federation of Exchanges. He is based in Nasdaq’s Washington, D.C., office.

        Before serving as FINRA’s General Counsel from 1999-2001 and then NASDAQ’s General Counsel, Knight served as General Counsel of the U.S. Department of the Treasury from September 1994 to June 1999 — the longest tenure since the position was created in 1934. Upon his departure, he received the Alexander Hamilton Award, the Department's highest honor. He also received the Honor Award from the Secret Service. Before being named Treasury General Counsel, Knight served as Executive Secretary and Senior Advisor to Secretary of the Treasury Lloyd Bentsen. He also served as a member of the Obama Transition Team at the U.S. Treasury Department in 2008-2009.

        Prior, he was a partner with the law firm of Akin, Gump, Strauss, Hauer and Feld in Washington, D.C. A Texas native, Knight received his Bachelor of Arts, with honors, in Latin American Studies from the University of Texas at Austin and his Juris Doctorate from the University of Texas School of Law.


      • Ashishkumar Chauhan

        Managing Director & CEO National Stock Exchange of India
    • 13:00 - 14:00

      Lunch

      All Participants

    • 14:00 - 14:45

      Session 9: Fireside Chat: Dr Jane Goodall of Jane Goodall Institute & Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia & Chairman of WWF-Malaysia


      Speakers
      • Tan Sri Abdul Wahid
        Tan Sri Abdul Wahid Omar Chairman Bursa Malaysia
      • Tan Sri Abdul Wahid Omar

        Chairman Bursa Malaysia

        Tan Sri Abdul Wahid Omar is currently the Chairman of Bursa Malaysia Berhad. He is regarded as one of the most accomplished corporate leaders in Malaysia having successfully led as CEO three major organisations in infrastructure development (UEM Group 2001 - 2004), telecommunications (Telekom Malaysia 2004 - 2008) and financial services (Maybank 2008 - 2013). He served as Group Chairman of Permodalan Nasional Berhad (PNB) from August 2016 to June 2018 following completion of his term as a Senator and Minister in the Prime Minister’s Department in charge of Economic Planning from June 2013 to June 2016.

        He also currently serves as the Chairman of WWF-Malaysia and MySDG Foundation, Professor of Practice at INCEIF University and as the Sultan bin Abdulaziz Visiting Fellow at the Oxford Centre for Islamic Studies, UK. Tan Sri Abdul Wahid is a member of the Association of Chartered Certified Accountants (ACCA), the Institute of Chartered Accountants in England & Wales (ICAEW) and the Malaysian Institute of Accountants (MIA).

      • Dr. Jane Goodall

        Founder Jane Goodall Institute
    • 14:45 - 15:30

      Session 10: The Great Settlement Debate: To T+1 or Not

      Speakers
      • John
        John McKenzie Chief Executive Officer, TMX Group, & Chair WFE Working Committee
      • John McKenzie

        Chief Executive Officer, TMX Group, & Chair WFE Working Committee

        Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

        Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

        From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

        Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.

      • Jorge
        Jorge Alegria Chief Executive Officer Bolsa Mexicana de Valores
      • Jorge Alegria

        Chief Executive Officer Bolsa Mexicana de Valores

        He has held various positions of high responsibility in the financial and markets sector, including Senior Director of CME Group (Chicago Mercantile Exchange), representative in Mexico and in charge of the development of markets, clients and derivative products for Latin America.

        Previously he served as Managing Director of MexDer (Mexican Derivatives Market) and as Deputy Managing Director of the Mexican Stock Exchange, in charge of Market Operations and Data Services of the BMV Group. Prior to that, he was CEO of ABN AMRO Securities (Mexico) and Deputy Managing Director of Scotiabank Inverlat México.

        He chaired the International Options Markets Association (IOMA) abroad for three years. Mr. Alegría graduated as a Public Accountant specialized in Finance from ITAM (Instituto Tecnológico Autónomo de México), where he has also been a part-time professor teaching the topic of Derivatives Markets in Mexico. He has taken and taught various advanced courses and seminars in Mexico and abroad, specialized in capital markets, FINTECH and financial derivatives.

    • 15:45 - 16:45

      Session 11: Living in the New World

      Exchanges and Market Infrastructure providers are always affected by political change even while our industry’s role is to ensure that markets operate, develop, stay open and work smoothly regardless of the change. No other industry is as profoundly affected. The last year has seen about 1.5 billion people go to the polls with elections taking place in more than 50 countries which between them hold almost half of the world’s population, according to Kings College London estimates. 

      How do exchanges navigate such change even while remaining true to their foundational principles. In recent years, we have witnessed a significant rise in political polarization both within and between countries. This growing divide poses potential risks to the integrity of financial systems, leading to increased frictions that hinder optimal capital allocation. How can exchanges maintain financial system integrity and minimize frictions in politically polarized environments With the rise in international political tensions, financial sanctions are becoming more common. What regulatory measures can exchanges implement to cushion the impact of these sanctions? How can global financial institutions adapt to varying regulatory standards driven by polarized political climates?  How can technological advancements and financial innovations be leveraged to mitigate the adverse effects of political polarization on financial systems?  What strategies can be implemented to ensure financial stability and inclusion in politically polarized environments?  How does political polarization affect global efforts to achieve net zero emissions, and what can financial institutions do to support these goals amidst a divided political landscape? 

    • 16:45 - 17:00

      Closing Remarks, thanks to the host and invitation to the 2025 Annual Meeting

      All Participants

      Speaker
      • Nandini
        Nandini Sukumar Chief Executive Officer The World Federation of Exchanges
      • Nandini Sukumar

        Chief Executive Officer The World Federation of Exchanges

        Nandini Sukumar is the Chief Executive Officer of the World Federation of Exchanges, the global association for exchanges and CCPs. The WFE represents more than 250 exchanges and clearing houses globally, educating stakeholders on the vital role played by market infrastructures in the real economy and as a standard setter, finding the consensus on issues among the global membership. Of its members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020). WFE’s 57 member CCPs collectively ensure that risk takers post some $800bn (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. Ms. Sukumar is Vice Chair of IOSCO’s Affiliate Members Consultative Committee and Chair of the AMCC’s Sustainability Taskforce.

    • 17:00 - 19:30

      WFE Farewell Reception

      All Participants

  • Post-Conference Tour 

    • 08:30 - 18:00

      Post-Conference Tour

      (Information can be found here)