WFE response to the IOSCO Consultation entitled "Evolution in the Operation, Governance and Business Models of Exchanges: Regulatory Implications and Good Practices"

The Report places too much emphasis on demutualisation of exchanges and consequently, IOSCO should reconsider its analysis and the Report to determine whether the risks that it cites are common to other forms of ownership and types of trading platforms, and if so, should revise the Report accordingly. We also note that the good practices are largely practices that many regulatory authorities globally already employ and thereby do not necessitate a change by many regulators.