The 10 pillars of the Exchange Manifesto:
1. Give people a path to financial security, via inflation-beating shares
They complete their offering with other products, such as fixed income.
2. Help companies – new and old, large or SME – to prosper
Listing is a platform for future funding, hiring and marketing – not just cash today.
3. Provide a clear signal on the health of a country
There is a mutually positive relationship with GDP increases.
4. By supporting growth, contribute indirectly to tax revenues
Also, financial services, with exchanges at the core, is a value-added industry.
5. Channel funds in the necessary scale to strategic sectors (defence, medicine)
Transitionals and new sectors benefit too (digitilisation, AI).
6. Form the foundation for other financial markets
Exchanges have a ‘halo’ effect, that makes other financial markets more credible.
7. Attract international investment
The profile and integrity of organised markets brings in foreign investors.
8. Underpin insurance
Insurers need to invest in growth and value assets and manage asset-price risk.
9. Promote public engagement
Access to capital markets and data reinforces social inclusion.
10. Ensure system-wide soundness and resilience
This is funding and investment, without credit crunches.
“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.” - Nandini Sukumar, CEO of the WFE.
Read our position paper here.