WFEClear: The WFE’s Clearing and Derivatives Conference 2023
About the WFE
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 250 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of our members, 34% are in Asia-Pacific, 45% in EMEA and 21% in the Americas. WFE’s 90 member CCPs and clearing services collectively ensure that risk takers post some $1.3 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. WFE exchanges, together with other exchanges feeding into our database, are home to over 50,000 listed companies, and the market capitalisation of these entities is over $100 trillion; around $140 trillion (EOB) in trading annually passes through WFE members (at end 2022).
The WFE is the definitive source for exchange-traded statistics and publishes over 350 market data indicators. Its free statistics database stretches back more than 40 years and provides information and insight into developments on global exchanges. The WFE works with standard-setters, policy makers, regulators and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities’ goals of ensuring the safety and soundness of the global financial system.
With extensive experience of developing and enforcing high standards of conduct, the WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk. We seek outcomes that maximise the common good, consumer confidence and economic growth. And we engage with policy makers and regulators in an open, collaborative way, reflecting the central, public role that exchanges and CCPs play in a globally integrated financial system.
About the Johannesburg Stock Exchange
The Johannesburg Stock Exchange (JSE) has a well-established history operating as a market place for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for 135 years. As a leading global exchange, the JSE co-creates, unlocks value & makes real connections happen. www.jse.co.za.
Deputy Head of the Secretariat of Committee on Payments and Market Infrastructures, Bank for International Settlements
Takeshi is Deputy Head of the Secretariat of the Committee on Payments and Market Infrastructures (CPMI). As Deputy Head, he supports CPMI parent committee and represents the CPMI at various international groups. Areas of his current responsibilities cover: risk management issues in financial market infrastructures (FMIs), including margining practices, CCP financial resources in recovery and resolution, and operational and cyber resilience, and regulatory and supervisory issues in stablecoins and digital innovations.
Before joining the BIS, he served as chief representative in Frankfurt of the Bank of Japan (BoJ) from 2014 until 2016. Within the BoJ he spent many years in the areas related to FMIs, BoJ’s policy and oversight work regarding Japanese and international FMIs. He represented the BoJ at various FMI-related international groups and cross-border cooperative oversight arrangements.
He also led the BoJ’s supervisory team for Japanese banks and broker dealers, and represented the BoJ at supervisory colleges and crisis management groups for G-SIBs.
Earlier in his career he was a junior representative at the BoJ Frankfurt office. From 2008 and 2010 he was seconded to the BIS as a member of the CPSS Secretariat. He studied law at Kyoto University and economics at University of Göttingen.
Commissioner, Commodity Futures Trading Commission (CFTC)
Summer K. Mersinger was nominated by President Biden to serve as a Commissioner of the Commodity Futures Trading Commission and was unanimously confirmed by the Senate. She was sworn into office on March 30, 2022.
Prior to her appointment, Ms. Mersinger served as the Chief of Staff to CFTC Commissioner Dawn D. Stump. She also served as the Director of the Office of Legislative and Intergovernmental Affairs at the Commodity Futures Trading Commission under former Chairman Heath Tarbert.
Ms. Mersinger has 20 years of Capitol Hill and government relations experience. Prior to joining the CFTC, she was Senior Vice President at Smith-Free Group, a leading government affairs practice, where she worked on financial services issues including advocating for large fintech organizations.
From 2004 to 2016, Ms. Mersinger was a top aide to current Senate Minority Whip John Thune, who represents her home state of South Dakota. Most recently she served as his DC Chief of Staff, coordinating legislative activities for Sen. Thune’s team and working regularly with Senate leadership and senior staff on both sides of the aisle. Ms. Mersinger was instrumental during policy debates involving banking, finance, telecommunications, surface transportation, agriculture, and trade issues. Ms. Mersinger was also directly involved in the communications efforts spearheaded by Sen. Thune through his leadership post on the Senate Republican Conference.
Prior to joining Sen. Thune’s staff, Ms. Mersinger was a director of government relations at Arent Fox, and she also worked in Sen. Thune’s office while he was a member of the U.S. House of Representatives from 1999 to 2002. Summer completed her undergraduate degree from the University of Minnesota and her law degree from the Catholic University’s Columbus School of law. She is a proud mother of four children, two daughters and two sons, and resides in Northern Virginia with her husband.
Senior Advisor, Hidden Road Partners LP
Independent Member of the CCP Supervisory Committee and Director for CCPs, The European Securities and Markets Authority (ESMA)
Froukelien Wendt is an Independent Member of the CCP Supervisory Committee at the European Securities and Markets Authority (ESMA). In this role, she is responsible for the supervision of third country CCPs and convergence in the supervision of EU CCPs, including CCP stress tests. Previously, she worked at the IMF and led missions in the area of CCPs, central securities depositories and payment systems in the context of IMF Financial Sector Assessment Program (FSAP) and Technical Assistance projects. She also worked at the World Bank as a Senior Securities Settlement Expert and at De Nederlandsche Bank, where she was responsible for oversight of payment and securities settlement systems, and CCPs. Froukelien started her career at Euronext N.V., where she worked in the strategy and cash market development departments. She holds a master in Economics from the RijksUniversiteit Groningen, and a master in Financial and Investment Analysis from the Universiteit van Amsterdam.