WFE Workshop on Leadership & Communications “What action – corporate communication roundtable”

1. WFE Workshop on Leadership & Communications “What action – corporate communication roundtable” Tokyo Stock Exchange Group, Inc. February 2009 1

2. What action - corporate communications roundtable -How has the financial crisis changed the way exchanges work in corporate communications? How do they anticipate change in 2009? -What international action or coordination is needed between exchanges? What partnerships could be formed with international institutions and policy makers? -Are there issues that emphasize the value of regulated exchanges that exchanges would welcome help from the WFE or a specialized group? (for example, corporate governance and listing standards, sustainable investment, investor education,) 2

3. Communication with whom? ・Government or Regulatory Authorities ・Trading Participants or Members – broker/dealers or banks ・Listed Companies ・Investors (Retail and Institutions) ・Media ・Shareholders (may not be applicable) What kind of purpose? Ensure credibility Increase liquidity Contribute to national economies Appeal : The regulated exchanges provide with fair, transparent and orderly market facilities. What kind of message? Predominance of regulated market Effectiveness of self-regulation (vs. government regulation) Enhancement of corporate governance 3

4. What kind of actions? To Regulators - Concern of excess regulation by government - Effectiveness of self-regulation - International co-ordination of regulation (Possible Actions) Local : - Participation in Governmental committee - Request or advice to the local government Global : - Lobbying to international organizations (such as IOSCO, FSF, OECD etc.) 4

5. What kind of actions? To Trading Participants or Members - Trading needs of participants - Competition with off-exchange market facilities (Possible Actions) Individual exchange base : Direct communications with these participants 5

6. What kind of actions? To Listed Companies - Strengthened corporate governance - Protection and equal treatment of shareholders - Promotion of new listings (Possible Actions) Local : - Consultation with listed companies (better corporate governance, etc) - Cooperation with local government in regulation setting Global : -Active participation and advice to international organization (such as OECD, etc) 6

7. What kind of actions? To Investors (Institutions) - Use of exchange markets (Individual) - Promotion of long-term investment - Provision of risk money - Increased financial literacy (Possible Actions) Local : - Communication through Web-site, seminar and events Global : - Cooperation with international organizations (such as WFE, IFIE etc.) 7

8. What kind of actions? To Media - Wide-spread of exchanges’ news and policies - Information need to be timely and accurate (Possible Actions) Individual exchange base : - Press conference, Media briefing, Education program, Media trainings for management, etc. Global : - Utilize media contacts of international organization (WFE, regional federation, etc.) 8

9. Corporate communication officers already know: • PDCA cycle of corporate communications (Plan – Do – Check – Act) • (Actions) • - Image survey of stakeholders • - Measurement of effectiveness of PR activities • - Survey of Web-site users • - Participants’ evaluation of seminar and events • - Corporate communications are two-way or bidirectional communications 9

10. Corporate communication is two-way or bidirectional communication! Thank you 10