A total turnover of 6.242 billion shares worth ₦157.764 billion in 186,496 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 12.153 billion shares valued at ₦176.058 billion that exchanged hands last week in 224,146 deals.  Click here for full details.

The current reports for the week of August 18, 2026 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data. Additional information on Commitments of Traders (COT) | CFTC.gov Historical Viewable Historical Compressed COT Release Schedule CFTC Public Reporting Environment (PRE) PRE User Guide PRE Frequently Asked Questions (FAQs)

ETFGI reported today the Global Thematic ETF Industry Gathered a Record US$ 43.99 Billion in July as YTD Net Inflows Reach All-Time High of US$ 112.26 Billion. During July the Thematic ETFs industry globally gathered net inflows of US$43.99 billion, bringing year-to-date net inflows to a record US$112.26 billion, according to ETFGI’s July 2026 ETF Thematic industry landscape insights report, an annual paid-for research subscription service. ETFGI, is a 14 year old leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, 6 annual ETFGI Global ETFs Insights Summits, and ETF TV on global ETF industry trends. (All dollar values in USD unless otherwise noted) Highlights Assets invested in the global thematic ETF industry stood at US$623.89 billion at the end of July 2026, slightly below the record high of US$646.82 billion reached at the end of June 2026. Despite the month-end decline from the June record, thematic ETF assets have increased 30.2% year-to-date, rising from US$479.08 billion at the end of 2025 to US$623.89 billion at the end of July 2026. Thematic ETFs gathered a record US$43.99 billion in net inflows during July 2026, surpassing the previous monthly record of US$41.15 billion set in July 2018. Year-to-date net inflows reached a record US$112.26 billion, significantly exceeding the previous high of US$69.36 billion recorded in 2021 and well above the US$25.67 billion gathered during the same period in 2025. Thematic ETFs have now recorded 20 consecutive months of net inflows, highlighting sustained investor demand for long-term structural growth and innovation-focused investment themes. YTD 254 new ETFs have been launched by 105 providers and 29 ETFs have closed. “The S&P 500 declined slightly by 0.06% in July but remained up 10.14% year-to-date in 2026. Developed markets excluding the US gained 0.30% during July and were up 14.62% year-to-date, with Luxembourg (+12.10%) and Norway (+9.93%) posting the strongest gains among developed markets. Emerging markets fell 0.33% in July but remained up 9.40% year-to-date, while Taiwan (-7.80%) and Turkey (-5.91%) recorded the largest declines among emerging markets,” according to Deborah Fuhr, Managing Partner, Founder, and Owner of ETFGI.  Growth in assets in the Thematic ETFs industry as of end of July Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: “ETFs” are typically open-end index funds that provide daily portfolio transparency, are listed and traded on exchanges like stocks on a secondary basis as well as utilising a unique creation and redemption process for primary transactions. “ETPs” refers to other products that have similarities to ETFs in the way they trade and settle but they do not use a mutual fund structure. The use of other structures including grantor trusts, partnerships, notes and depositary receipts by ETPs can create different tax and regulatory implications for investors when compared to ETFs which are funds. Since the launch of the first Thematic ETF in 2001, the number and diversity of products have increased steadily.  The Thematic ETFs industry had 1,931 ETFs, with 3,565 listings, assets of $623.89 Bn, from 308 providers listed on 55 exchanges in 43 countries at the end of July. ETF Issuers iShares remained the largest provider of thematic ETFs globally at the end of July 2026, with $92.42 Bn in assets under management and a 14.8% market share. Mirae Asset ranked second with $61.76 Bn in assets and a 9.9% market share, while First Trust placed third with $42.89 Bn and a 6.9% market share. Together, the three largest providers managed $197.1 Bn in thematic ETF assets, representing 31.6% of total thematic ETF assets globally. In terms of asset gathering, Mirae Asset led the group in July with $1.33 Bn in net inflows, followed by iShares with $552 Mn and First Trust with $538 Mn.  YTD, Mirae Asset also led the top three providers with $11.37 Bn in net inflows, significantly ahead of iShares with $7.78 Bn and First Trust with US$7.47 Bn. In terms of asset gathering, however, ChinaAMC and Roundhill were the stand-out performers. ChinaAMC led all providers in July with $11.86 billion in net infows, representing approximately 27.0% of the thematic ETF industry's record $43.99 billion of inflows during the month. Roundhill ranked second in July with $6.16 billion in net inflows and was the leading provider YTD, attracting $26.41 billion in net new assets, equivalent to 23.5% of the industry's record $112.26 billion in YTD inflows. Net Flows Technology and Innovation themes continued to dominate investor allocations within the global thematic ETF industry at the end of July. Technology-themed ETFs were the largest segment, with $194.5 billion in assets under management. Technology ETFs attracted the second-highest monthly net inflows of all thematic categories at $17.8 billion in July and a record $46.0 billion in year-to-date net inflows, accounting for more than 40% of total thematic ETF inflows in 2026. Innovation-themed ETFs ranked as the third-largest category by assets with $109.7 billion and led all thematic categories in July net inflows with a record $19.9 billion, while gathering $21.8 billion in net new assets YTD, highlighting strong investor demand for AI, robotics, and disruptive technology-related investment themes. Climate Change ETFs were the second-largest thematic exposure by assets, with $132.6 billion under management. The category gathered $1.7 billion in net inflows during July and $12.5 billion year-to-date. Infrastructure ETFs also experienced strong demand, attracting $1.9 billion in July and $18.3 billion in net new assets YTD while growing assets to $78.8 billion, reflecting investor interest in long-term spending programs, energy security, and economic modernization initiatives. Healthcare and Resources Management themes posted solid growth, gathering $1.9 billion and $124 million in net inflows during July, bringing YTD net inflows to $7.6 billion and US$3.4 billion respectively. Consumer-themed ETFs lagged other major categories, attracting $536 million in July and just $2.0 billion in year-to-date inflows despite holding $45.2 billion in assets. Overall, Technology and Innovation themes accounted for $37.6 billion of the record $44.0 billion gathered by thematic ETFs in July, representing more than 85% of monthly inflows. These two categories also attracted US$67.8 billion, or more than 60% of the industry's record $112.3 billion in year-to-date net inflows, demonstrating that investors continue to favor growth-oriented themes linked to digital transformation, artificial intelligence, and technological disruption. Substantial inflows can be attributed to the top 20 ETFs/ETPs by net new assets, which collectively gathered $32.79 Bn, during July. Roundhill Memory ETF (DRAM US) gathered $6.19 Bn, the largest individual net inflow. Top 20 Thematic ETFs/ETPs by net new assets July 2026 Source: ETFGI data sourced from ETF/ETP sponsors, exchanges, regulatory filings, Thomson Reuters/Lipper, Bloomberg, publicly available sources and data generated in-house. Note: This report is based on the most recent data available at the time of publication. Asset and flow data may change slightly as additional data becomes available.  

Yesterday, the Commodity Futures Trading Commission held the inaugural meeting of its Innovation Advisory Committee in Washington, D.C. The Innovation Advisory Committee was created to advise the Commission on complex issues at the intersection of technology, law, policy, and finance. This council of American innovators, entrepreneurs, thinkers, and builders provided insights and recommendations to the Commission to help ensure its regulations keep pace with the rapid speed of innovation on the new frontier of finance.  At 1:00 p.m. ET, Michael J. Passalacqua addressed the IAC membership. “The caliber of people joining us in the room reflects Chairman Selig’s commitment to bringing the very best minds to the table. And we are grateful for the viewpoints each of you will bring to the meeting today.”  Following Passalacqua’s remarks, IAC Chair Walt Lukken, then addressed IAC members. “Now we are here today not to advocate for one technology, business model, or market participant. We’re here to provide practical advice to the commission that is rooted in real world experiences. Good policy is informed policy, and informed policy comes from listening to the people who operate, use, and build these markets every day.” Watch Lukken’s full remarks here.  Chairman Selig convened the meeting and delivered opening remarks. "Today, we’re once again at an inflection point. Another moment when the choices we make will shape the markets and opportunities of the decades ahead. We’ve crossed the Rubicon and are standing at a new frontier of finance. It’s not a question of whether innovations like blockchain, artificial intelligence, and prediction markets will transform our markets. It’s a question of where this innovation will take place and who will write the rules. ...In this administration, we are choosing to lead. Under President Trump’s leadership, America will not simply participate in this new frontier of finance. We will shape it," said Chairman Selig. Watch the Chairman’s full remarks here. At 1:30 p.m. ET, members discussed topics including crypto’s regulatory evolution, artificial intelligence and compute within the derivatives markets, along with prediction markets and the future of novel event contracts. Watch the full meeting here.  At 4:00 p.m. ET, Chairman Selig adjourned the meeting. 

In his address at the Opening Bell Ceremony, Korkmaz Ergun, the CEO of Borsa İstanbul A.Ş., stated the following:  “Distinguished Guests, Today, I welcome you all to the Opening Bell Ceremony hosted by our Exchange as we celebrate the listing of Kapeks Kimya Sanayi A.Ş. Kapeks Kimya is among the top 1,000 largest industrial enterprises in our country. Specializing in the explosives industry, Kapeks Kimya successfully continues its export activities. The company will utilize the proceeds from its IPO to realize new investments and accelerate its growth. I would like to express my thanks to everyone who contributed to this successful IPO process, including all company employees and the intermediary institution. I hope that this IPO will be beneficial for our capital markets.”

The Securities and Exchange Commission Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will decrease from $138.10 per million dollars to $87.00 per million dollars, effective Oct. 1. The new fee rate will be applicable to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and specified tender offers under Section 14(g) of the Securities Exchange Act of 1934. The securities laws require the Commission to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933, which also adjusts the annual fee rates under Sections 13(e) and 14(g) of the Securities Exchange Act of 1934, as well as Rule 24f-2 under the Investment Company Act of 1940. The Commission must set rates for the fees paid under Section 6(b) to levels that the Commission projects will generate collections equal to annual statutory target amounts. The Commission’s projections are calculated using a methodology developed in consultation with the Congressional Budget Office and the Office of Management and Budget. The Commission determined the statutory target amount for fiscal year 2027 to be $919,148,792 by adjusting the fiscal year 2026 target collection amount of $887,800,554 for the rate of inflation. The Commission will issue further notices as appropriate to keep the public informed of developments relating to fees.   Resources SEC Order

As previously announced in the March 30, 2026 Alert, the MIAX Options Exchange will implement the below functionality enhancements. Functionality Enhancements: Support for IEX and MX2 Options Exchange Updates to the following Interface Specifications are as follows: FOI Interface Specification v2.7a: SecurityExchange (tag = 207) field of ExecutionReport message (MsgType = 8) to include IEX and MX2 Options Exchange MIC code FXD Interface Specification v2.6c: SecurityExchange (tag = 207) field of ExecutionReport message (MsgType = 8) to include IEX and MX2 Options Exchange MIC code CTD Interface Specification v2.6d: Execution Exchange field of Trade message (Message Type = T) to include IEX and MX2 Options Exchange Code Previously announced Local Market Maker on PRIME/cPRIME Contra Functionality The functionality, previously published in the March 30, 2026 Alert, has been reverted back to its prior state. Updates to the FOI Interface Specification v2.7a are as follows: New Order Cross message to exclude Market Maker (MM) as a valid “CustomerOrFirm” value for PRIME. New Order Cross – Multileg message to exclude Market Maker (MM) as a valid “CustomerOrFirm” value for cPRIME. Schedule for All Enhancements: MEI v2.11 Changes Friday, September 4, 2026 Quote Width Relief Notification Functionality Mass Cancel Trigger Reason on Line Disconnect Friday, September 11, 2026 Selective Liquidity Auto Purge (SLAP) Functionality Aggregate Risk Manager (ARM) Origin Multiplier Functionality All MEI v2.11 features require a certification. AIS v2.6a Changes Updates: New “Origin” field in both Simple and Complex Liquidity Seeking Event Notifications PRIME and cPRIME Auction Start Price will no longer be disseminated (i.e. will always be 0) via the AIS Feed Roll out schedule will be cloud by cloud: Day 1 - Tuesday, September 1, 2026: Cloud 21   Day 2 - Wednesday, September 2, 2026: Clouds 18 – 20 Day 3 - Thursday, September 3, 2026: Clouds 1 – 8 Day 4 - Friday, September 4, 2026:  Clouds 9 – 17 and 22 – 24 Additional Details: These changes are available in the MIAX Options Exchange's Firm Test Bed (FTB2) environment. Visit MIAX Options Interface Specifications for additional details. Please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302 to discuss any specific issues, update configurations and to arrange interface testing.

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs industry, reported today that 21 of the top 50 overseas securities purchased by Korean retail investors in July 2026 were U.S.-listed ETFs. This compares with 22 U.S.-listed ETFs among the top 50 overseas securities purchases in June, May, and April 2026, indicating continued strong investor demand for ETF products despite a modest decline in representation. In dollar terms, Korean retail investors purchased US$12.61 billion of U.S.-listed ETFs in July 2026. While this remains a significant level of investment activity, it is below the 2025 monthly peak of US$15.85 billion recorded in October, highlighting some moderation in buying activity from record levels.  (All dollar values in USD unless otherwise noted)   Highlights Korean retail investors purchased US$12.61 billion and sold US$6.95 billion of the top overseas ETFs in July 2026. Twenty-one of the top 50 overseas securities purchased by Korean retail investors in July were U.S.-listed ETFs. More than half of these ETFs (11 of 21) provided leveraged or inverse exposure, highlighting investors' continued interest in tactical and high-conviction trading strategies. The Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL) was the most purchased overseas ETF, attracting US$7.87 billion in gross purchases during July. The Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL) was also the most sold overseas ETF, with US$4.08 billion in gross sales during the month. Despite significant profit-taking activity, the Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL) recorded the largest net purchase settlement among overseas ETFs, with net inflows of US$3.79 billion in July.  Korea has become one of the most closely watched leveraged ETF markets globally following the launch of its first single-stock leveraged and inverse ETFs linked to Samsung Electronics and SK Hynix in May 2026. The products attracted extraordinary retail investor demand, with more than 100,000 investors completing mandatory training before launch and retail trading volumes rapidly reaching trillions of won. However, the rapid growth of these products coincided with heightened volatility in Korean semiconductor stocks and the broader KOSPI market. Regulators became concerned that the daily rebalancing requirements of leveraged ETFs were amplifying market moves and increasing risks for retail investors. In response, the Financial Services Commission (FSC) introduced a series of measures in July 2026, including tripling the minimum investment requirement from KRW 10 million to KRW 30 million, restricting the use of securities as collateral, suspending new product launches, banning promotional activity, and considering limits on investor exposure to these products. The regulatory intervention has significantly reduced trading activity and shifted investor assets toward broader index-based leveraged ETFs. Nevertheless, leveraged and inverse ETFs remain highly active trading tools, particularly during periods of heightened volatility in Samsung Electronics and SK Hynix shares. Total Amount of top overseas ETFs purchased by Korean retail investors by month                    Source: Korea Securities Depository Total Amount of top overseas ETFs sold by Korean retail investors by month  Source: Korea Securities Depository Total Amount of top overseas ETFs net purchase settlements by Korean retail investors by month                     Source: Korea Securities Depository Click here for full details.

EFTGI is delighted to unveil some of our speakers and topics for the 7th Annual ETFGI Global ETFs Insights Summit - United States, taking place on September 29 in New York City. Register now to join us to meet, network with, and hear from industry leaders across the region. The summit is designed as an educational event for financial advisors and institutional investors in the United States. Industry leaders from issuers, regulators, investors, exchanges, and trading firms will share insights on the selection, use and trading of ETFs, including active, virtual assets, market structure, regulations, novel ETFs, tokenisation, prediction markets and technological advancements shaping ETF innovation and usage.?Free Registration: For CFA members, buy-side institutional investors, and financial advisors.?CPD Credits: Earn educational credits?Early Bird Discount Ends August 28: Secure your place today and benefit from the reduced registration rate? CLICK HERE TO REGISTER NOWTOPICS WILL INCLUDE: Welcome Remarks ETF Industry Trends – ETFGI Research SEC's, Finra and CFTC’s Regulatory Agenda: Hot Topics ETF Share Classes, 351 Conversions and the Future of Mutual Funds ETF Tax Efficiency Under Scrutiny Active ETF Growth & Regulatory Framework The Future of Income Investing: Covered Calls, Buffer ETFs and Fixed Income ETFs Crypto ETFs, Tokenization and Digital Asset Products Commodities, Precious Metals and Critical Materials in 2026: What's Driving ETF Prices? India Opportunity – Local Growth, Global Interest How Investors Are Selecting and Using ETFs Understanding the Offshore U.S. ETF Market: Investors, Products, and Opportunities Tapping into the Opportunity for ETFs in Europe and Beyond Outlook for the Asset Management and ETF Industry Women in ETFs panel / Fireside Chat Networking Drinks – Hosted by Nasdaq SPEAKERS WILL INCLUDE: Edward B. Baer, Partner, K&L Gates  Eric Biegeleisen, CFA, Partner, Deputy CIO, 3EDGE Asset Management  Monica Camino, Head of US Offshore, Vanguard  Aniruddha Chatterjee, CEO - NSE Indices, Data and Cogencis, NSE Indices Limited Ed Coyne, Senior Managing Partner, Global Sales, Sprott Inc. Deborah Fuhr, Managing Partner & Founder, ETFGI Barry Hurley, Director Business Development, Universal Investment  Richard Malinowski, Co-CEO, General Counsel, Exchange Traded Concepts  Leah J. Miller, Vice President, Model Portfolio Strategy, BlackRock  Ciara O’Leary, Partner, McCann FitzGerald LLP  Tara O'Reilly, Partner and Head of ETF Strategy, Arthur Cox LLP  Kim Tilley, Managing Director, Head of Investment Solutions, Lazard Asset Management  Richard Tseng, Senior Portfolio Manager, Bank of America Merrill Lynch  Clair Turketo, Managing Director, Client Solutions, Carne Group  Richard Vagnoni, Senior Economist, FINRA  Morrison Warren, Partner, Chapman and Cutler LLP EVENT DETAILS:?Tuesday, September 29th⏰ Full day event including a networking drinks reception?The Yale Club, 50 Vanderbilt Ave, New York, NY 10017, United States? Website and registration https://bit.ly/4biukB1?Early Bird Discount Ends August 28: Secure your place today and benefit from the reduced registration rate?View the agenda, speakers, and topics from last year's successful annual ETFGI Global ETFs Insights Summit - United States here.Don’t miss this opportunity to explore key trends and network with industry leaders driving the future of ETFs, register now. Register to join one or more of our upcoming ETFGI Global ETFs Insights Summits in 2026: 7th Annual - Asia Pacific, September 9th in Hong Kong and September 10th virtual. Register now.  7th Annual - United States, September 29th in New York City. Early bird expires on August 28th - Register now. 7th Annual - Middle East & GCC, October 20th in Dubai. Early bird expires on September 11th - Register now. 7th Annual - Europe & Africa, November 19th in London and November 20th virtual. Early bird expires on October 9th - Register now. 8th Annual - Canada, December 8th in Toronto at Borden Ladner Gervais LLP (BLG)'s office. Early bird expires on October 27th - Register now. Upcoming ETFGI Global ETFs Insights Summits in 2027: 8th Annual - Latin America, day 1 in Mexico City and day 2 virtual. Register your interest.

Jeffrey O'Connor, US Head of Market Structure and Sell Side ATS Strategy at Liquidnet, shares his outlook on the key forces driving markets this year. Rate Uncertainty to Dominate Through Year-End With the 10-year Treasury yield back above 4.7%, the long end of the curve is sitting at generational highs — and according to O'Connor, that uncertainty isn't going anywhere soon. "Everything right now is focused on rates and that uncertainty will dominate for the rest of the year," he said.O'Connor points to the post-financial crisis era — where rates hovered around 1% or lower for nearly eight years — as an anomaly, not the norm. What markets are experiencing now, he argues, is a long-overdue correction. "What we are seeing now is the big normalization, a reversion to what a functioning economy has historically looked like."While corporate and economic growth remain strong by most measures, the inflation and rates overhang continues to weigh on companies, forcing them to rethink growth strategies in a sustained higher-rate environment. Fed vs. Treasury: Who's Really Setting Rates? The Treasury's recent announcement on buying back long-dated securities drew attention, though O'Connor notes its notional impact was limited. The bigger question it raises, he says, is who is actually steering rate direction — the Fed or the Treasury. Adding to that tension is Fed Chair Warsh's approach of minimal communication and his stated intention to reduce the balance sheet. With Jackson Hole, the September 11 CPI print, and the upcoming FOMC decision on the horizon, O'Connor believes the picture will become clearer as markets move into the fall. Equity Volumes Look Strong — But Don't Be Fooled Summer volumes have finally arrived in both equity and bond markets, but O'Connor urges caution when interpreting the headline numbers. While equity volumes are running around 60% higher than 2024, he argues that growth is structural rather than institutional. "That growth reflects the omnipresence of non-bank market makers rather than executable institutional depth," he explained, adding that the lack of conviction from traditional institutional traders is making conditions increasingly difficult. SEC's Order Protection Rule Review Draws Industry Scrutiny On the market structure front, the SEC's comment period on rescinding the order protection rule closed this week, drawing considerable attention across the industry. O'Connor notes that while the intent behind the review is broadly supported, the potential consequences are a serious concern. "If the rule were rescinded in full, it would be the most significant market structure change since Reg NMS in 2005-06," he warned.

Solactive is pleased to announce its collaboration with KraneShares on the KraneShares Asia AI Technology ETF, which tracks the Solactive Asia AI Technology USD Index. The ETF seeks to provide exposure to Asian companies positioned across the AI technology value chain, with a particular focus on the infrastructure and industrial capabilities supporting AI development and deployment. As artificial intelligence adoption continues to expand, demand for technologies enabling AI systems has increased across semiconductors, memory, data center infrastructure, networking equipment, AI server manufacturing, and semiconductor capital equipment. Against this backdrop, the strategy is intended to capture companies with measurable business exposure to the AI ecosystem in Asia, reflecting the region's role in the global supply chain supporting AI innovation. The Solactive Asia AI Technology USD Index selects constituents from the Solactive GBS Global Markets All Cap USD Index that satisfy regional, size, and liquidity requirements. Eligible companies are headquartered, located, or primarily listed in Taiwan, Japan, South Korea, China, Hong Kong, or Macao. Constituents are selected based on their Thematic Relevance Score, which reflects their exposure to the AI technology ecosystem across advanced semiconductor foundry and packaging services, high-bandwidth memory, optical communications and AI networking hardware, data center power, thermal and electrical infrastructure, AI server original design manufacturing and systems integration, semiconductor capital equipment and test systems, and AI semiconductor materials and specialty chemicals. The weighting approach combines free-float market capitalization with thematic relevance, allocating 20% to company size and 80% to thematic relevance. Individual constituent weights are capped at 8%, while the combined weight of constituents exceeding 5% is limited to 45%. The index is rebalanced quarterly. The ETF was listed on 19 August 2026 on the NYSE with the ticker code KAIT. Timo Pfeiffer, Chief Markets Officer at Solactive, commented: "We are pleased to collaborate with KraneShares on this launch. At Solactive, we focus on delivering innovative and relevant index solutions for our clients. This index reflects Asia's important role in the global AI value chain and demonstrates our ability to translate specific client needs into targeted and transparent product solutions." “We believe Asia plays a foundational role in enabling the global AI buildout, with leadership across many of the most capacity-constrained and technologically complex segments of the value chain,” said Jonathan Krane, Founder and Chief Executive Officer of KraneShares. “Working with Solactive as our index provider, we are launching KAIT to provide investors with targeted access to the companies and regions we believe will drive the next phase of AI-driven growth.”

KEY POINTS SET and SET Foundation, with three network partners, drive two environmental initiatives in Lampang: constructing 10,993 check dams as a royal merit-making tribute, and building environmental awareness in youth through EF brain skills development. Both initiatives unite local wisdom and community participation across all ages to build a sustainable foundation for environmental conservation The Stock Exchange of Thailand (SET) and SET Foundation are advancing environmental conservation to empower local communities under the concept “Synergizing Partnerships for a Better Society,” driving two major initiatives in Lampang province. The first, “SET: Forests and Communities for Sustainability,” is a partnership with the Lampang Community Forest Learning Association and The Siam Cement (Lampang) Co., Ltd. to construct 10,993 check dams inspired by royal development principles, with the merit dedicated to Her Majesty Queen Sirikit The Queen Mother. The second, “Love Home, Protect Forests,” is a collaboration with the Rakluke Learning Group Institute and the Lampang Community Foundation, encouraging students at early childhood, primary and secondary levels to learn environmental conservation through Executive Functions (EF) brain skills development, building long-term community resilience against environmental crises. SET Senior Executive Vice President and SET Foundation Director and Treasurer – Rongrak Phanapavudhikul said that amid growing environmental challenges, including climate change and PM2.5 air pollution, SET remains committed to working closely with partners from all sectors within local communities to promote responsible natural resource management, strengthen communities, and preserve local culture and wisdom. Both initiatives deliver tangible improvements to quality of life and generate meaningful benefits for society and the environment, reinforcing SET’s role in creating opportunities for all sectors in line with its vision, “The Trusted Gateway to Inclusive Opportunities” Lampang Community Forest Learning Association President – Sumai Maimun said the association and local communities are committed to conserving forests and water sources through the collective construction of 10,993 check dams across all 13 districts. The figure carries an auspicious symbolic meaning: “10” represents Her Majesty's status as the Queen Mother to His Majesty King Rama X; “9” signifies her role as the Queen Consort of King Rama IX; and “93” reflects Her Majesty’s age. The initiative reflects the unity and loyalty of communities and partners throughout Lampang, working together to preserve local ecosystems for future generations. RLG Institute President – Subhawadee Harnmethee said the institute has partnered with the Lampang Community Foundation and educational networks, including the Jitsueksa network, Lamplaimat Pattana School, Plearnpattana School in Bangkok, and Ban Sam Kha School in Lampang, with support from the SET Foundation. The project integrates EF brain skill development with a “Love Home, Protect Forests” mindset, equipping teachers with three-dimensional foundational knowledge (Self + EF + Development) to design localized environmental learning units. Students engage in hands-on, real-world learning that fosters positive attitudes toward community and nature. Outcomes show that youths at all levels have developed EF skills and environmental awareness, successfully connecting learning to practical resource management. The project has also produced a “Love Home, Protect Forests Learning Unit Development Manual,” ready for expansion to other educational institutions. Lampang Community Foundation President – Assistant Professor Jariya Wilaiwan said that the project has fostered concrete collaboration among schools, families, and communities across six sub-districts and three districts in Lampang. Parents, local wisdom keepers, elderly groups, community leaders, and local agencies serve as active learning resources, passing down community and environmental wisdom to youth. Through participatory teacher development, Active learning curriculum design, and continuous teacher support and monitoring, the project lays a strong foundation of environmental consciousness in children and youth for the sustainable protection of Lampang's environment. Both initiatives serve as vital models for environmental conservation, bridging natural resources with local ways of life so that youth and communities develop a shared sense of responsibility to value and protect Lampang’s natural heritage for generations to come.

Validity period for eligible New Listing applications will be extended from six months to 12 months; the new measure will apply for three years This adjustment gives applicants greater flexibility to manage their listing timetable and reduces the need for duplicate work Regulatory standards and investor protection safeguards remain unchanged The Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), announces today (Friday) that it will grant a temporary waiver to extend the validity period of eligible New Listing1 applications from six months to 12 months from the date of the listing application form, subject to satisfaction of certain prescribed conditions2 and safeguards3 (the Temporary Waiver)4.  The Temporary Waiver gives applicants, sponsors and their advisers greater flexibility to manage their listing timetable and reduces the frequency of refiling applications thereby minimising submission of administrative updates that may later be superseded, allowing them to focus their time on the quality of the application materials and listing documents. This change will not alter the Exchange’s regulatory standards or the protections in place for investors. Applicants benefiting from the extension must still meet all applicable Listing Rules and provide complete, up-to-date information — including the latest business and financial information — so that regulators can properly assess each application and investors can make informed decisions. Ms Katherine Ng, HKEX’s Head of Listing, said: “HKEX is committed to continuously enhancing the efficiency and competitiveness of Hong Kong’s listing framework, while upholding robust regulatory standards and public interest. With the support of the SFC, the extension builds on the Enhanced Application Timeframe5 introduced by the Exchange and the SFC in October 2024 and gives applicants greater flexibility to manage their listing timetable and supports a more focused and efficient application process.” Throughout the New Listing application process, applicants, sponsors and their advisers are expected to monitor the progress, keep the regulators informed of material developments and submit a feasible timetable. Sponsors must exercise due skill, care and diligence in formulating a reasonable timetable, considering the time required by the regulators to review and complete the assessment. In view of the extension, the relevant timelines contemplated under the Enhanced Application Timeframe will be adjusted as appropriate by reference to the latest progress and timetable provided by applicants and sponsors.  The Temporary Waiver will be applicable to all New Listing applications that satisfy the prescribed conditions as set out earlier in this announcement and (a) remain valid on, or (b) are filed or refiled on or after, the date of this announcement6. Such waiver will apply for a fixed period of three years from the date of this announcement (i.e. 21 August 2026 to 20 August 2029). The Exchange will monitor its implementation and effectiveness and may review the relevant requirements or conduct public consultation where necessary and appropriate.   Notes: “New Listing” has the meaning ascribed to it in Main Board Listing Rule 1.01 and GEM Listing Rule 1.01, but for the purpose of this announcement, excludes any new listing of interests in a real estate investment trust or any reverse takeover of a listed issuer which is a deemed new listing under the Listing Rules. The conditions for the Temporary Waiver include (i) the Exchange has not indicated in its comment letter(s) that vetting of the applicant’s New Listing application was or has been suspended; and (ii) no direct requisition letter under the Securities and Futures (Stock Market Listing) Rules and/or a major concerns letter has been issued by the Securities and Futures Commission (SFC) and/or the Exchange. Notwithstanding the above, where the issues as set out in such regulatory letter(s) have been fully addressed to the satisfaction of both regulators prior to the expiration of the initial 6-months validity period, the relevant New Listing application shall still be granted the Temporary Waiver.  Where there is a change in sponsor of the New Listing application during the period of the extension which warrants or triggers the requirement to re-submit a New Listing application under the Listing Rules, the New Listing application will lapse immediately on the day of such change. The SFC has formally consented to the Temporary Waiver pursuant to Main Board Listing Rule 2.04 and GEM Listing Rule 2.07. In October 2024, the SFC and the Exchange jointly announced the enhanced timeframe for New Listing application process to further enhance the market to provide greater clarity regarding the review process for New Listing applications. No separate waiver application is required to be made by applicants. Where the conditions are not satisfied, or where a change in sponsor requires a New Listing application to be made under the Listing Rules, the New Listing application will lapse upon expiry of the initial 6-months validity period or upon a change in sponsor (see note 3 above), as applicable.

The Disciplinary Committee of Nasdaq Stockholm (the “Exchange") has found that Ovzon AB (publ) (the “Company") has breached the rules of Nasdaq (the “Rulebook”) and therefore ordered the Company to pay a fine of two annual fees, corresponding to an amount of SEK 550,000.  The Disciplinary Committee concludes that the Company has breached item 3.1.1 of the Rulebook as inside information from the Company’s press release of 19 December 2025 was published on LikedIn before the information was disclosed through a press release in accordance with Article 17 of the EU Market Abuse Regulation and the associated implementing regulation. The Disciplinary Committee considers the breach of the Rulebook to be serious and therefore imposes a fine. The fine is determined to be equivalent to two annual fees. The Disciplinary Committee’s decision is available at:https://www.nasdaq.com/market-regulation/nordic/stockholm/disciplinary/decisions-sanctions

Thank you. Good afternoon and welcome to the Innovation Advisory Committee’s inaugural meeting. We’ve assembled some of America’s greatest builders, thinkers, and entrepreneurs here in our nation’s capital to engage in a series of conversations about where our financial markets are headed, and what role America, and, in particular, the Commodity Futures Trading Commission (“CFTC”), will play in shaping that future. Before we get started, I’d like to take a step back and discuss why American leadership on this new frontier of finance matters. But, before I do, I must provide the standard disclaimer that the views I express here today are my own as Chairman and don’t necessarily reflect those of the Commission. Built for the Frontier For more than half a century, the CFTC has stood at the center of innovation in America’s financial markets, helping ensure that innovation can flourish while markets remain fair and resilient. When President Gerald Ford signed the Commodity Futures Trading Commission Act into law in 1974, America’s derivatives markets were being transformed by an explosion of interest in a wide range of novel instruments – from contracts on currencies, to petroleum allocations, to Ginnie Mae certificates.[1] Despite federally regulated commodity exchanges having existed since the 1920s, prior law only covered contracts in an enumerated list of agricultural commodities, like wheat, corn, cotton, and rice. The balance of contracts was subject to the same patchwork of state laws that had prompted Congress to institute federal commodity laws in the first place. As a result, America was falling behind. The history of America’s earliest commodity exchange, the Chicago Board of Trade, has been described as a saga of “fending off countless politicians on both the state and national level, all of which seemed intent on shutting the Board down.”[2] In 1848, a group of merchants established the Board above a flour store to enforce a set of codes and rules for buying, weighing, and grading commodities and to arbitrate disputes among traders.[3] By 1859, a convention emerged whereby parties who had committed to buy or to sell a commodity could make or receive a payment to or from the other party based on the change in price of the commodity instead of making or taking physical delivery.[4] They standardized a promise – a measure of grain, a price, a date – so that a farmer hundreds of miles away could lock in her season before the first frost, and so that a miller could plan his year without relying solely on hope to make ends meet. These arrangements came to be known as futures contracts. The response to this innovation in the markets was remarkably similar to what we have seen with some of the technologies we’re here to discuss today. As these early markets began to take shape, state lawmakers across the country moved to subject these exchanges to a wide range of state “anti-gaming” and “anti-bucket shop” laws.[5] One lawmaker urged federal action, exclaiming that “[t]he grain gamblers have made the exchange building in Chicago the world’s greatest gambling house.”[6] Karl Marx called exchanges “gambling” parlors “where little fish are swallowed by the sharks.”[7] The same rhetoric has been used to delegitimize and undermine our markets for more than a century. But when lawmakers considered legislation to amend the Commodity Exchange Act (the “CEA”) and codify, once and for all, a comprehensive federal regulatory framework for commodity exchanges, they recognized then what we know to be true today: regulation and innovation must go hand in hand. Without clear rules of the road, builders, visionaries, and entrepreneurs always leave for brighter shores. So, Congress established a federal system of market regulation designed to be future-proof. It created a new federal agency – the CFTC – and provided it with “exclusive jurisdiction”[8] over commodity derivatives markets. Lawmakers also included a statutory mandate that the agency “promote responsible innovation.”[9] Recognizing that virtually anything,[10] tangible or intangible, might serve as the underlying for a derivative contract, lawmakers defined the term “commodity” to include “all goods and articles, . . . and services, rights, and interests” that may be the subject of a derivative contract.[11] This included events, contingencies, and incidents that take place which are beyond the control of the contracting parties.[12] With an “essentially unbounded field of potential commodities,”[13] exchanges were free to innovate and offer a wide range of novel financial instruments under a single federal regulatory framework. The breadth of this definition makes clear that lawmakers intentionally chose not to fragment regulatory authority over commodity derivatives markets based upon the underlying commodity. They reasoned that “[t]he nature of the underlying commodity is not an adequate basis to divide regulatory authority.”[14] Instead, lawmakers opted for simplicity and ease of administration, explaining that “the fact that a futures contract market does not fit into the traditional mold where there are both hedging and price-discovery functions should not be the determining factor in whether the contract is regulated by the CFTC.”[15] These contracts were now required to trade on CFTC-registered exchanges, known as designated contract markets (or “DCMs”). DCMs would be overseen by the CFTC but also operate as self-regulatory organizations that would serve as the first line of defense in policing rules to protect market integrity. The patchwork of state laws that once undermined the ability of exchanges to operate across the country would no longer apply to these federally regulated exchanges. With clear rules of the road, pioneering exchange operators set out onto the vast frontier of finance and designed many of the contracts that are popularly traded today, like weather, interest rate, and equity derivatives. After observing the evolution of these markets under CFTC supervision for some decades, Congress made additional modifications to the CEA to further future-proof the framework with the Commodity Futures Modernization Act of 2000 (the “CFMA”). We’re pleased to have with us today former CFTC Acting Chairman, Walt Lukken, who was heavily involved in the development of the legislation as an advisor to the then Senate Agriculture Committee Chairman, Richard Lugar. The CFMA replaced the CEA’s legacy system of prescriptive regulation with a principles-based regulatory framework. The regime afforded market participants the flexibility to operate within core principles so that their ability to innovate is not constrained by hard rules.[16] More recently, Congress again amended the CEA under the Dodd-Frank Act to expand the agency’s authority to more comprehensively cover the universe of swaps. Lawmakers also chose to include within the CFTC’s jurisdiction offerings of commodity transactions on a margined, leveraged, or financed basis to retail participants, which must trade on a DCM as futures. The results of these developments are reflected by the sheer size and depth of our derivatives markets. At the time that the Commodity Futures Trading Act was enacted in 1974, the U.S. derivatives market was valued in the low hundreds of billions of dollars notional. Today, the CFTC regulates approximately half of the $1.2 quadrillion notional global derivatives market.[17] This is not an accident. It is the result of American regulation keeping pace with American innovation. But unfortunately, our history reflects that, at times, we’ve lost our way. Commodity options were prohibited in the U.S. until 1974 due to concerns that the contracts were instruments of manipulation and destabilizing speculation.[18] And there’s been a lot of debate about Congress’ decision to ban onion contracts in the Onion Futures Act of 1958,[19] as well as the movie box office revenue contract prohibition that found its way into the 2008 financial crisis reforms.[20] * * * Today, we’re once again at an inflection point. Another moment when the choices we make will shape the markets and opportunities of the decades ahead. We’ve crossed the Rubicon and are standing at a new frontier of finance. It’s not a question of whether innovations like blockchain, artificial intelligence, and prediction markets will transform our markets. It’s a question of where this innovation will take place and who will write the rules. America can either accelerate and continue the regulatory tradition that made our markets the greatest on Earth, or it can decelerate and let other countries take the lead. We can be optimistic about the future. Or we can fear it. In this administration, we are choosing to lead. Under President Trump’s leadership, America will not simply participate in this new frontier of finance. We will shape it. Today, I’ll preview our innovation agenda, or what I refer to as the “Roadmap for the New Frontier of Finance” (or “Roadmap”). Setting the Standard: Roadmap for the Crypto Capital of the World During the prior administration, the American crypto industry weathered a perfect storm of anti-crypto armies, de-banking, regulation by enforcement, and offshore exchange failures. After taking the oath of office on January 20, 2025, President Trump quickly followed through on his commitment to “fire Gary Gensler” and make the United States the “crypto capital” of the world.[21] Under the prior regime of regulation by enforcement, businesses could not know in advance whether their actions were legal or illegal, whether they were guilty or innocent, because there were no clear rules on the books. Many of you in this room today were victims of this wayward approach to regulation. You built companies, created jobs, invested capital, and tried to comply with the law, only to find yourselves navigating a regulatory system where the rules could change after the fact. This is the type of persecution we see in banana republics. It’s unacceptable in the United States. That’s why I partnered with Chairman Atkins at the Securities and Exchange Commission on Project Crypto to codify a clear taxonomy for crypto assets that provides certainty to the marketplace as to which types of crypto assets are securities, and which are not. I remain hopeful that Congress will deliver to the President’s desk bipartisan crypto asset market structure legislation that codifies this jurisdictional line and establishes statutory core principles for crypto asset spot markets. While we have other tools in the box if the bill doesn’t pass, I want to be crystal clear: the most important step towards future-proofing this industry is passing this bipartisan bill. Passing CLARITY is the surest way that we can prevent another Gary Gensler from running a rogue campaign of lawfare against the individuals and companies in this room. I’d urge you all to continue engaging with Capitol Hill to ensure that this bill gets across the finish line. We stand ready to begin immediately implementing the bill if passed. If CLARITY continues to stall because of Democratic obstruction, the CFTC will utilize its existing authorities to begin establishing a regime for crypto asset markets. We owe it to the American people to do so.  President Trump promised to deliver a crypto asset market structure, and we will help him deliver if Congress will not. We will heed President Trump’s call to “codify a future-proof digital asset market structure that cannot be undone by the crypto haters.”[22] To achieve this, I’ve directed the CFTC staff to begin exploring rules to codify a CFTC market structure for crypto assets using the agency’s existing authorities. This could enable current registrants as well as non-registrant crypto exchanges to be designated by the CFTC as a type of DCM known as a crypto asset market and offer crypto asset trading on a leveraged or margined basis subject to purpose-fit rules under the CFTC’s regulatory oversight. I’ve also directed staff to engage with developers of onchain finance protocols to establish ways in which developers can offer their protocols in a legal and compliant manner in the United States. Future-proofing developer protections once and for all. We’re going to give CLARITY its breathing room for a vote, but if the Democrats cannot support a bipartisan work product, which reflects compromises from both sides of the aisle, and ultimately send a fair version of the bill to the President’s desk, then rest assured, I will direct CFTC staff to move swiftly to propose these new rules for the industry. Winning the AI Race: Roadmap for Compute Market Dominance Now, as President Trump said, “America is the country that started the AI race. And . . .  America is going to win it.”[23] Access to advanced GPU clusters and compute capacity increasingly determines who can compete, who can innovate, and ultimately, who can lead. As demand for compute grows, so too does the need for markets capable of efficiently allocating scarce resources and managing risk. If the lessons of history are any guide, well-functioning spot, forward, and derivatives markets emerge in conjunction with demand for scarce and economically significant commodities. Compute is proving to be no different. Transparent markets can transform compute from a costly and unpredictable input into a commodity with reliable price discovery and effective hedging, which will strengthen America’s capacity to lead the AI revolution. America’s AI Action Plan calls upon the federal agencies to ensure access to large-scale compute for startups and academics by improving the financial market for this ever-critical digital commodity.[24] And we’re partnering with the Department of Commerce to get this done. Our first step was to issue a request for comment on compute markets, which was released earlier this week. From there, we’ll take stakeholder feedback into consideration and develop a gold standard regulatory framework for these new commodity markets. Just as American markets helped establish the gold standard for trading the commodities that powered the industrial economy, we will do the same for the commodity that will power the intelligence economy. Forecasting the Future: Roadmap for American Prediction Markets Today, prediction markets find themselves enduring the same type of assault from state and national politicians that plagued the Chicago Board of Trade for much of its early existence. Although Congress gave the CFTC the exclusive authority to regulate DCMs that offer trading in derivatives, many states seek to nullify federal law and apply state anti-gaming laws to DCMs. These state actors are sadly suffering from what the late CFTC Chairman Philip McBride Johnson called NFS, or Name Fixation Syndrome. NFS, he explained, “is an intellectual malady that causes the listener to hear only the first part of a phrase, such as TREASURY BOND futures, SOYBEAN futures, OIL futures, [SPORTS futures,] etc. Without treatment, this can lead the patient to think that the futures should be regulated by the same agency that supervises the NAME. The consequences, of course, are preposterous.”[25] I’m happy to report that we are not afflicted with NFS here at the CFTC. That’s why we’ll continue to promote responsible innovation in lawful derivatives and defend our exclusive jurisdiction in court. As President Trump said, “[o]ther countries are after this new form of financial market, and we want to remain at the top.”[26] But we’ll not only defend our jurisdiction, we’ll also exercise it by establishing clear rules of the road for these markets. Despite what some diagnosed with NFS may have you believe, prediction markets aren’t new. Our statute expressly classifies as commodities events, contingencies, or incidents that take place which are beyond the control of the contracting parties.[27] Derivatives on these commodities are known as “event contracts” and they have traded in our markets for decades. Yet, the CFTC never instituted a comprehensive regulatory framework to address the unique policy considerations associated with these products. Instead, prior administrations put their heads in the sand, thinking that the markets would go away, and, when that failed, tried to outlaw the products entirely. We witnessed the same story that we did with commodity options and crypto assets unfold with event contracts – regulators tried to ban them and drove the innovators offshore to places like the Bahamas. We all know how this story ends. We’re not going to take this approach anymore at the CFTC. Here’s our Roadmap for prediction markets: First, we recently proposed amendments to CFTC Rule 40.11. While every event contract must satisfy the core principles and not be readily susceptible to manipulation, Congress recognized that certain types of event contracts, specifically those involving war, terrorism, assassination, gaming, and illegal activities, raise additional public policy considerations. The CFTC has the discretion to prohibit any such contract when doing so is in the public interest.[28] However, our statute does not define key terms like “gaming” or “involve” or establish public interest criteria for us to consider. As a result, contracts are at risk of rejection based upon arbitrary whims or political biases, and DCMs have been left operating in the dark. The prior administration attempted to prohibit event contracts on politics, sports, and cultural events in the name of the public interest – without ever defining what is in the “public interest.” Under this approach, the public is not the judge of its interest but instead whoever is in control of the Commission. Our proposed amendments to CFTC Rule 40.11 are intended to address these issues by defining key terms and enumerating public interest criteria for Commission consideration. Second, we proposed a rule to modernize the reporting framework for fully collateralized event contracts. The proposal would establish a durable regulatory framework that provides the Commission with the information it needs to oversee these markets while eliminating unnecessary complexity and regulatory burden. Finally, I expect the Commission will soon propose a series of amendments to Parts 38 and 40 of the CFTC’s regulations to modernize the core principles and listing rules governing DCMs that list event contracts and institute consumer protection requirements. We’ve heard the concerns of public commenters about inadequate consumer protections for retail loud and clear. These amendments would also establish clear expectations for product governance, market design, and incentive programs. * * * We have a lot of work ahead of us at the CFTC. But we’re energized by the innovation happening in our markets. Due, in large part, to the ingenuity of you all in the room today. You’ve withstood anti-crypto armies, doomerism, and a lot of subpoenas. But you continued to build and innovate here in the United States. That’s why we asked you all to be a part of the very first Innovation Advisory Committee. To bring together the people building and innovating in the United States and ensure that the new frontier of finance remains on American soil. Thank you all for your service. I look forward to today’s discussions. [1] Philip McBride Johnson, Thomas Lee Hazen, Susan C. Ervin, Charles R. Mills & Kathryn M. Trkla, Derivatives Regulation §2.03 (Second Edition 2004). [2] oh H. Stassen, The Commodity Exchange Act In Perspective: A Short and Not So-Reverent History of Futures Trading in the United States, 39 Wash. & Lee L. Rev. 825 (1982). [3] Id. [4] Johnson and Hazen, supra note 1, at §2.02. [5] Id. [6] 61 Cong. Rec. 4761, 4763 (Aug. 9, 1921) (remarks of Sen. Capper). [7] 3 Karl Marx, Capital: A Critique of Political Economy 440 (Friedrich Engels ed., Progress Publishers 1959) (1894). [8] 7 U.S.C. § 2(a)(1)(A). [9] 7 U.S.C. § 5(b). [10] “Even the SEC envied the CFTC—or soon envied it. Congress buried among the 1974 amendments to the Commodity Exchange Act an expanded definition of the term ‘commodity’ to include literally anything, with one exception [for onions], which was or might In the future be the subject of futures trading.” Stassen, supra, note 2, at 833-34. [11] See Johnson and Hazen, supra note 1, at §2.03. [12] See 7 U.S. Code § 1a(19)(iv) (defining “excluded commodity” to include “an occurrence, extent of an occurrence, or contingency (other than a change in the price, rate, value, or level of a commodity”). [13] See Johnson and Hazen, supra note 1, at §2.03. [14] Report on S. 2391 of the Senate Agriculture, Nutrition, and Forestry Committee, S. Rep. No. 95-850, 95th Cong., 2d Sess. 22-23 (May 15, 1978). [15] Id. [16] See Heath P. Tarbert, Rules for Principles and Principles for Rules: Tools for Crafting Sound Financial Regulation, Harvard Business Law Review, Vol. 10 (2019–2020), Harvard Business School, 2020. [17] See Michael S. Selig, The New Era of Finance Needs Innovation More Than Consensus, The Economist (Aug. 6, 2026), available at https://www.economist.com/by-invitation/2026/08/06/the-new-era-of-finance-needs-innovation-more-than-consensus. [18] See Jerry W. Markham, The History of Commodity Futures Trading and its Regulation (1987). [19] See, e.g., Roger W. Gray, Onions Revisited, 45 J. Farm Econ. 273 (1963). [20] See, e.g., Paul G. Anderson, Note, Back to the Future(s): A Critical Look at the Film Futures Ban, 29 Cardozo Arts & Ent. L.J. 179 (2011). [21] Donald J. Trump, Keynote Address at the Bitcoin 2024 Conference, Nashville, Tenn. (July 27, 2024). [22] Donald J. Trump, @RealDonaldTrump on Truth Social (May 27, 2026). [23] Donald J. Trump, President Trump Speaks at Artificial Intelligence Summit, Washington, D.C. (July 23, 2025). [24] See The White House, Winning the Race: America’s AI Action Plan (Jul. 23, 2025), available at: https://www.whitehouse.gov/wp-content/uploads/2025/07/Americas-AI-Action-Plan.pdf. [25] Johnson and Hazen, supra note 1, at §4.05. [26] Donald J. Trump, @RealDonaldTrump on Truth Social (May 26, 2026). [27] See 7 U.S.C. § 1a(19)(iv) (defining “excluded commodity” to include “an occurrence, extent of an occurrence, or contingency (other than a change in the price, rate, value, or level of a commodity”). [28] See 7 U.S.C. § 7a-2(c)(5)(C).

Please refer to the Regulatory Circulars listed below for the newly listed symbols and the corresponding market for the underlying security used for openings on the MIAX Exchanges: MIAX Options Regulatory Circular 2026-132 MIAX Pearl Options Regulatory Circular 2026-128 MIAX Emerald Options Regulatory Circular 2026-96 MIAX Sapphire Options Regulatory Circular 2026-132 The newly listed symbols will be available for trading beginning Friday, August 21, 2026. Please direct questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.

Apex Group Ltd. ("Apex Group"), a leading global financial services provider with more than $3.5 trillion in assets serviced, and OpenVC, a pioneer in private market indexing and asset management, today announced a strategic partnership to develop new real-world asset (RWA) indices and expand access to private market investment opportunities. The partnership brings together Apex Group's global private markets infrastructure, proprietary data and distribution capabilities with OpenVC's expertise in index construction and benchmark development. Together, the firms will develop a suite of indices designed to provide investors with greater transparency, insights and access to the rapidly evolving real-world asset market. As private markets continue to grow in scale and importance, investors are increasingly seeking reliable benchmarks and data-driven tools to evaluate opportunities across asset classes. Through this collaboration, Apex Group and OpenVC aim to support greater transparency and standardisation across private markets while helping investors better understand emerging areas of growth within the real-world asset ecosystem. In addition to index development, OpenVC's investment products will be made available through ApexInvest Markets, Apex Group's broker-dealer affiliate, expanding access for qualified investors, family offices and advisory communities. Georges Archibald, CEO of Apex Distribution, said: "Private markets are undergoing a period of rapid transformation, creating opportunities for better data, improved transparency and more sophisticated benchmarking. By partnering with OpenVC, we have the opportunity to combine Apex Group's unique data assets and distribution capabilities with an innovative approach to private market indexing. Together, we aim to deliver tools that help investors navigate an increasingly dynamic market environment." David Shapiro, CEO of OpenVC, said: "OpenVC was founded on the belief that private markets deserve the same transparency, accessibility and benchmarking standards that investors have long relied on in public markets. By combining our indexing expertise with Apex Group's global data resources and market reach, we believe we can help create meaningful benchmarks for the real-world asset market while helping investors better understand and access this evolving space.” The planned indices are expected to leverage Apex Group's private markets data and OpenVC's index construction methodology to create benchmarks focused on real-world asset funds and strategies. The firms will also collaborate on distribution and market education initiatives designed to support broader understanding of the asset class.

The enhancement to the Aggregate Risk Manager (ARM), to adopt an Origin Multiplier for use when calculating the Allowable Engagement Percentage previously scheduled for implementation on August 31, 2026, has been postponed and will now be implemented on September 11, 2026. Please refer to the following Regulatory Circular for more information: MIAX Options RC 2026-133 For additional information, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302. Please direct questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.  

The enhancement to the Mass Cancellation of Trading Interest, to adopt Selective Liquidity Auto Purge (“SLAP”) functionality previously scheduled for implementation on August 31, 2026, has been postponed and will now be implemented on September 11, 2026.Please refer to the following Regulatory Circular for more information: MIAX Options RC 2026-134 For additional information, please contact MIAX Trading Operations at TradingOperations@miaxglobal.com or (609) 897-7302. Please direct questions to the Regulatory Department at Regulatory@miaxglobal.com or (609) 897-7309.

The Office of the Comptroller of the Currency (OCC) today released the termination of a bank enforcement action. The OCC terminates enforcement actions when a bank has demonstrated compliance with all articles of an enforcement action; or when the OCC determines that articles deemed “not in compliance” have become outdated or irrelevant to the bank’s current circumstances; or when the OCC incorporates the articles deemed “not in compliance” into a new action. The termination action is: Order Terminating the Formal Agreement with First National Bank of Pasco, Dade City, Florida, dated September 18, 2025 (Docket No. AA-SO-2025-46). (Docket No. AA-SO-2026-37) To receive alerts for news releases announcing public OCC enforcement actions, subscribe to OCC Email Updates. All OCC public enforcement actions taken since August 1989 are available for download by viewing the searchable enforcement actions database at https://apps.occ.gov/EASearch. Related Link Enforcement Action Types