The World Federation of Exchanges (WFE), formerly the Federation Internationale des Bourses de Valeurs (FIBV), or International Federation of Stock Exchanges, is the trade association of publicly regulated stock, futures, and options exchanges, as well as central counterparties (CCPs). It represents over 250 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Its market operators are responsible for operating the key components of the financial world. It was founded in 1961 and is based in London, United Kingdom.