WFEClear 2025

31 - 2 April 2025Seoul, Korea

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WFEClear: The WFE’s Clearing and Derivatives Conference - 2025

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, 37% are in Asia-Pacific, 44% in EMEA and 19% in the Americas. The WFE’s 87 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 51,000 listed companies, and the market capitalisation of these entities is over $110 trillion; around $140 trillion (EOB) in trading annually passes through WFE members (at end 2024).

The WFE is the definitive source for exchange-traded statistics and publishes over 350 market data indicators. Its free statistics database stretches back 49 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 Korea Exchange

Korea Exchange (KRX) is the main financial exchange market operator in Korea. With its KOSPI Market, KOSDAQ Market (SME market), and Derivatives Market platform, KRX provides a vast pool of investment products ranging from equities, bonds, ETPs, futures, and options to world-wide investment community. In addition, as an authorized CCP in Korea, KRX provides robust clearing services for its exchange-traded markets as well as for OTC contracts. KRX is committed to providing a strong marketplace that drives economic growth, innovation, and value creation.

Speakers

Dr. David Murphy

Visiting Professor, Department of Law, London School of Economics (LSE)

David Murphy is a visiting professor in practice in the Law School at the London School of Economic and Political Science.  He is a leading expert on derivatives regulation, central clearing, and prudential policy, having published extensively in these areas, and worked in both bank and central counterparty policy at national and international levels.

Summer Mersinger

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.

Eun-bo Jeong

Chairman & CEO, Korea Exchange (KRX)