WFE Workshop on Leadership & Communications

“What action – corporate communication roundtable”

Tokyo Stock Exchange Group, Inc.

February 2009

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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,)

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What kind of message?

Predominance of regulated market

Effectiveness of self-regulation (vs. government regulation)

Enhancement of corporate governance

Appeal :

The regulated exchanges provide with fair, transparent and orderly market facilities.

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

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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.)

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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

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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)

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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.)

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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.)

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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

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Corporate communication is

two-way or bidirectional communication!

Thank you

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