Nanhua Singapore has become an exchange and clearing member of ICE Futures Singapore and ICE Clear Singapore, marking a step forward in its efforts to expand trading and clearing capabilities across international markets. Intercontinental Exchange stated that the appointments allow Nanhua Singapore to trade and clear both its own business and that of its clients directly on ICE’s Singapore-based platforms.  The move is expected to strengthen the firm’s access to global derivatives markets and enhance the services it offers to customers seeking exposure beyond Asia. Zheng Peiyuan, chief executive of Nanhua Singapore, said the membership would enable the company to deepen its global clearing capabilities while providing clients with broader opportunities in international markets.  He added that joining ICE in Singapore underlined Nanhua’s commitment to delivering reliable and efficient trading services as client needs evolve. ICE noted that the addition of Nanhua reflects continued engagement with regional market participants as it seeks to connect Asian firms with global risk management tools.  Maria Levanti, president and chief operating officer of ICE Futures Singapore and ICE Clear Singapore, said the group remains focused on linking local and international participants with access to global markets. ICE has operated in Singapore for more than 20 years and has positioned the city-state as a hub for its Asian derivatives business.  ICE Futures Singapore offers contracts across energy, foreign exchange, equity derivatives and digital assets, including mini and micro-sized products designed to support more flexible hedging strategies. The post Nanhua Singapore Becomes ICE Futures and Clearing Member in Singapore appeared first on LeapRate.

CME Group’s New York Mercantile Exchange said Friday that it has fined Telesto Sciences $30,000.  According to a disciplinary notice, the firm failed to adequately supervise its trading systems, leading to excessive and erroneous messaging activity in energy futures markets. A panel of the NYMEX Business Conduct Committee found that between February and September 2024, an automated trading system controlled by Telesto repeatedly retransmitted network packets before the pre-open security status message in crude oil and natural gas trading-at-settlement futures. The panel said the system sent unusually high volumes of packet retransmissions, including packets with larger-than-normal sizes and numerous symbol errors.  This activity also reportedly occurred in non-TAS products and continued even after Telesto attempted to address the issue following notification from the exchange. NYMEX found that Telesto was initially unaware of the unintended excessive messaging, the symbol errors introduced by its system and the abnormal packet sizes.  After efforts to correct the problem, the automated trading system continued to retransmit smaller packets containing symbol errors during the trading day. The conduct was deemed a breach of NYMEX Rule 432.W, which requires firms to diligently supervise employees and agents in business related to the exchange. Telesto agreed to the settlement without admitting or denying the findings. The post CME Group Fines Telesto Sciences appeared first on LeapRate.

LME Clear announced the appointment of Julie Carruthers as interim chair of the board on Friday, effective 1 January 2026, following the planned retirement of current chair David Warren at the end of this year. Carruthers, who currently serves as senior independent director, joined the LME Clear board in 2022 and brings more than 30 years of experience in financial services.  Her background includes senior roles at TP ICAP and UK Finance, with particular expertise in market infrastructure, post-trade operations and regulatory engagement. The appointment comes as LME Clear continues to advance its clearing modernisation strategy and respond to evolving customer demand across the global metals market.  Chief executive Michael Carty said Carruthers is “extremely well-positioned” to lead the business, citing her experience in electronic trading and clearing operations. Warren, who joined LME Clear in 2023, oversaw a period of growth and led the delivery of an action plan aimed at strengthening the organisation’s resilience and strategic direction.  Carty thanked him for his leadership, saying the business had made “huge progress” under his stewardship. Carruthers stated that she was honoured to take on the interim role at a “pivotal time” for the metals industry, adding that the company is now ready to accelerate innovation and broaden its offering following the successful completion of its resilience programme. The post LME Clear Appoints Julie Carruthers as Interim Chair appeared first on LeapRate.

US regulator FINRA has censured and fined Mundial Financial Group $100,000 after finding compliance failures, including allowing an unregistered individual to conduct securities business and operating an inadequate anti-money laundering programme. According to a letter of acceptance, waiver and consent, Mundial permitted its indirect owner to engage in securities activities requiring registration from January 2018 to at least January 2024, despite knowing he was not registered with FINRA in any capacity.  The individual acted in both a principal and representative role, soliciting customers, directing business strategy and exercising control over the firm’s finances. FINRA found this conduct breached registration rules and standards requiring firms to observe high standards of commercial honour. In addition, Mundial failed to develop and implement an AML compliance programme reasonably designed to meet Bank Secrecy Act requirements. The regulator stated that the firm’s customer identification procedures were not appropriately tailored to its risk profile, which included overseas clients and trading in low-priced securities.  Mundial is said to have approved accounts despite discrepancies in customer information and failed to adequately monitor or investigate red flags of suspicious activity. FINRA also cited failures to detect or report potentially manipulative trading and weaknesses in monitoring accounts linked to corporate insiders. As a result, suspicious transactions went undetected, including large share transfers and coordinated account openings. Alongside the fine and censure, Mundial has agreed to a series of undertakings, including retaining a third-party consultant to review its compliance framework and certifying that no unregistered individuals are performing regulated roles. The post FINRA Fines Mundial Financial $100,000 appeared first on LeapRate.

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On Friday, it was announced that Australia and New Zealand Banking Group has been ordered by the Australian Federal Court to pay $250m in combined penalties after admitting to widespread misconduct and systemic risk failures affecting government bodies and tens of thousands of customers. The penalties, secured by the Australian Securities and Investments Commission, are the largest ever imposed on a single entity by the regulator.  The judgment covers four separate proceedings spanning ANZ’s institutional and retail divisions. Justice Jonathan Beach increased the penalty for ANZ’s inaccurate reporting of secondary bond market turnover data to $50m, describing the conduct as “inexcusable” and lacking “any redeeming feature whatsoever”.  The court found ANZ overstated bond trading volumes by billions of dollars over nearly two years, exposing the Australian Government to significant risk. The bank was also fined $135m for misconduct linked to a $14bn government bond deal and misleading reporting, including a record $80m penalty for unconscionable conduct.  Additional penalties include $40m for failures in handling customer hardship notices, $40m for false and misleading statements about savings interest rates, and $35m for failing to refund fees charged to deceased customers’ accounts. ASIC chair Joe Longo said the scale of the penalties underscored the seriousness of the misconduct and its far-reaching consequences, adding that ANZ “must do better” given its central role in the banking system. ANZ admitted to the misconduct in September and cooperated with ASIC, which the court acknowledged in determining the final penalties.  Justice Beach said the sanctions were not to be treated as a cost of doing business and were intended to deter future misconduct across the sector. The post ANZ Hit With $250m Combined Penalties Over Widespread Misconduct and Systemic Failures appeared first on LeapRate.

Europe has taken a step towards in greater equity market transparency after the European Securities and Markets Authority selected EuroCTP as the first consolidated tape provider for shares and exchange-traded funds. ESMA said the decision marks a milestone for EU capital markets, as the consolidated tape will provide a single, comprehensive view of trading activity in shares and ETFs for both retail and institutional investors across Europe. Natasha Cazenave, ESMA’s executive director, expects the move to improve the attractiveness of EU equity markets and support the bloc’s Savings and Investment Union.  “The CTP will provide a consolidated view of market activity in shares and ETFs for retail and institutional investors across Europe,” she commented, adding that it would benefit all market participants. The regulator selected EuroCTP following an in-depth assessment against the criteria set out in the Markets in Financial Instruments Regulation.  ESMA said EuroCTP met all requirements and demonstrated a robust approach aligned with its expectations. EuroCTP is a Netherlands-based joint venture backed by 15 European exchange groups, reflecting broad industry support for the initiative.  The consolidated tape is intended to address long-standing concerns about fragmented market data across EU trading venues. ESMA has now invited EuroCTP to apply for authorisation.  The post ESMA Selects EuroCTP as First EU Consolidated Tape Provider for Shares and ETFs appeared first on LeapRate.

Metro Bank has been reclassified as a transfer firm under the UK’s minimum requirement for own funds and eligible liabilities (MREL) regime, a move the lender said would provide greater capital flexibility. The bank said it has received formal confirmation from the Bank of England that the reclassification will take effect from 1 January 2026. As a transfer firm, Metro Bank’s MREL will be set at its existing minimum capital requirements, equal to 13.7% including buffers and 9.2% excluding buffers. The change follows an announcement by the Bank of England in July and had been anticipated by the group.  Chief executive Daniel Frumkin said the decision was “a positive development which affords us more capital flexibility, enhancing our ability to lend into the UK economy and creating further value for our shareholders”. Metro Bank said it will provide a further update in its full-year results, which are scheduled for 4 March 2026. The post Metro Bank to be Reclassified as Transfer Firm Under the MREL Regime appeared first on LeapRate.

The Australian Securities and Investments Commission (ASIC) said Friday that Macquarie Securities admitted it failed to correctly report at least 73 million short sales between December 2009 and February 2024, with estimates suggesting between 298 million and 1.5 billion short sales were misreported over the period. The errors were reportedly caused by repeated systems and process failures, many of which went undetected for more than a decade. ASIC stated that the firm also admitted to incorrectly reporting regulatory data for more than 633,000 market orders between November 2022 and March 2023.  In addition, Macquarie Securities acknowledged it lacked appropriate supervisory procedures, organisational and technical resources, and adequate risk management systems to ensure compliance with its reporting obligations. ASIC chair Joe Longo commented that accurate short-sale and regulatory data were critical to maintaining confidence in financial markets, particularly during periods of volatility.  He added that unreliable data undermines transparency and hampers regulators’ ability to understand market activity and make informed decisions. The regulator’s action marks ASIC’s first civil case focused on short-sale reporting failures. ASIC said the proceedings form part of a broader effort to address misconduct and compliance failures at large Australian financial institutions. The post Macquarie Securities Australia Admits Misleading Conduct in Short-Sale Reporting Case appeared first on LeapRate.

By integrating StoneCastle’s institutional deposit network into the Fiserv ecosystem, the payments and financial technology group aims to offer banks new technology-driven funding options while helping merchants access enhanced cash management and liquidity solutions. Fiserv said financial institutions will be able to optimise balance sheets through a broader range of insured deposit products, including managing reserves linked to digital assets and issuance of the FIUSD stablecoin.  For merchants, the combined offering is expected to introduce new ways to manage operating cash, offset acquiring costs and improve financial flexibility. Existing StoneCastle clients, including wealth managers, will gain access to Fiserv’s extensive banking relationships and technology platforms, broadening distribution and reach.  The company said the integration strengthens its position at the intersection of banking and commerce. Takis Georgakopoulos, co-president of Fiserv, said the acquisition provides banks with a stable deposit source while offering merchant clients a safe, potentially higher-yielding alternative for managing cash.  He added that StoneCastle also brings liquidity benefits to Fiserv’s FIUSD stablecoin strategy. The post Fiserv Completes StoneCastle Deal to Expand Deposit and Digital Asset Capabilities appeared first on LeapRate.

The firm explained that the new stablecoin is designed to serve as infrastructure for banks, fintechs and enterprise partners seeking faster, more efficient money movement.  SoFi said SoFiUSD allows near-instant, 24/7 settlement at low cost while maintaining bank-grade oversight and regulatory safeguards. SoFiUSD is fully backed one-for-one by cash held at the bank, enabling immediate redemption.  As an OCC-regulated insured depository institution, SoFi said it can hold reserves at its Federal Reserve account, eliminating liquidity and credit risk. The infrastructure will also support white-label stablecoins and integration into partners’ settlement flows. Chief executive Anthony Noto stated that blockchain represents a “technology super cycle” for finance, with stablecoins addressing long-standing issues such as slow settlement, fragmented providers and opaque reserve models.  He added that SoFiUSD combines traditional banking regulation with on-chain transparency to deliver safer and more efficient payments. The stablecoin will initially be used for internal settlement, including SoFi’s crypto trading business, and is expected to become available to SoFi members in the coming months.  SoFi said it could also support card networks, retailers, remittances and point-of-sale payments, as well as provide a dollar-denominated option in countries with volatile currencies. The post SoFi Launches Fully Reserved Dollar Stablecoin for Banks and Fintechs appeared first on LeapRate.

Osborne will lead the council’s expanded strategic remit. Coinbase said his experience at the intersection of global finance, politics and regulation would support its ambition to help modernise the financial system and promote clearer regulatory frameworks for digital assets. During his time in government, Osborne played a prominent role at G7 and G20 level and later moved into global banking and advisory roles, working with major corporations and governments.  Coinbase believes this background equips him to guide the company as it navigates regulatory complexity while seeking to broaden access to financial services. The Global Advisory Council provides strategic advice on policy, regulation and market structure as Coinbase seeks to expand internationally and engage more closely with governments.  The company said effective regulation and standards were critical to unlocking the potential of crypto technology while ensuring market integrity. Coinbase added that Osborne’s appointment reflects its focus on building trusted infrastructure for the future of finance, balancing innovation with oversight. As chair, he will work with Coinbase leadership and council members to support the firm’s policy engagement and long-term strategic direction. The post George Osborne Appointed Chair of Coinbase Global Advisory Council appeared first on LeapRate.

The initiative forms part of Euronext’s Innovate for Growth 2027 strategy and supports the European Union’s ambition to create a genuine Savings and Investment Union.  Euronext Securities is working with issuing agents, including Uptevia, ABN AMRO Bank, Rabobank, and Banque Internationale à Luxembourg, to develop a European-wide issuance model. Euronext said the model will give issuers greater choice, enhance liquidity, broaden access to cross-border investors and improve shareholder engagement and governance.  For market participants, the platform is expected to simplify settlement and custody by offering a consolidated solution across multiple EU markets, reducing operational complexity and costs. Pierre Davoust, head of Euronext Securities, said the expansion marked a “major milestone” in building a more unified and competitive European capital market. Partner institutions said the initiative would help address long-standing inefficiencies in issuance and post-trade services. From September 2026, Euronext Securities is set to become the CSD of reference for equities and exchange-traded products in France, Italy, Belgium and the Netherlands. Client onboarding and testing will begin in the first half of 2026, with regulatory coordination and working groups already underway. Euronext said the move represents the first phase of a longer-term vision to centralise post-trade operations across the EU. The post Euronext Pushes Ahead With European CSD Expansion appeared first on LeapRate.

The transaction gives the South Korean broker-dealer full economic exposure to a digitally native note issued by a well-rated financial institution, without requiring any changes to its existing operational or settlement infrastructure.  Hana said the deal aligns with its long-term strategy to participate in technology-led capital markets innovation. The digitally native note is listed on the London Stock Exchange’s International Securities Market and settles on a T+0 basis via Euroclear’s Digital Financial Market Infrastructure, which uses distributed ledger technology to enable fully digital issuance, distribution and settlement. Standard Chartered acted as the total return swap provider, leading the structuring and execution of what the parties described as a pioneering transaction tied to a digital asset.  The deal allows Hana to participate in a digital product through a synthetic structure, lowering operational barriers while accessing new investment opportunities. Hana said the transaction positions the firm among leading Korean participants in the digital bond space, supporting its ambition to develop next-generation capital markets products and new digital funding channels. Chief executive Seong Muk Kang said the trade reflected growing investor appetite for technologically advanced financial instruments, while Standard Chartered highlighted rising demand for digitally native notes as a source of tangible efficiency gains in financial markets. The post Hana Securities Enters Digital Bond Market Through Swap With Standard Chartered appeared first on LeapRate.

The new product, called iBabs Debrief, uses artificial intelligence to recognise speakers in real time during meetings and generate full transcripts, summaries and minutes immediately afterwards.  All outputs are said to be delivered within the secure iBabs platform, allowing organisations to speed up administrative processes while maintaining a clear and auditable record of discussions and decisions. The company said the solution is particularly suited to public authorities and organisations in healthcare and education, where governance, accountability and data security are critical.  By automating post-meeting documentation, iBabs Debrief aims to reduce the hours typically spent on manual follow-up work and enable faster, more informed decision-making. iBabs emphasised that user-friendliness and data protection were central to the design. The AI assistant is available for immediate use without installation or complex configuration, supported by pre-set prompts to ensure consistent results.  Data is stored within the user’s European jurisdiction, and the solution is fully compliant with GDPR. Julien Tessier, chief executive of Euronext Corporate Solutions, said the launch brings AI “where it delivers real added value”, helping customers save time while strengthening governance and transparency. iBabs Debrief is available to both existing and new customers. The post Euronext-Owned iBabs Launches AI Meeting Assistant appeared first on LeapRate.

Financial terms of the deal were not disclosed. The acquisition will see OpenGamma’s margin optimisation and capital efficiency tools integrated directly into the Trading Technologies platform.  The companies said this would enable automated trading and position transfer workflows designed to reduce risk, improve efficiency and help firms manage margin-driven liquidity pressures. Justin Llewellyn-Jones, chief executive of Trading Technologies, described the deal as “a transformative step”, citing growing demands on market participants to manage margin requirements without weakening safeguards around counterparty risk.  He added that OpenGamma’s real-time analytics would help firms maximise leverage while freeing up capital. OpenGamma chief executive Peter Rippon believes the combination with Trading Technologies will accelerate the company’s growth by leveraging TT’s global distribution and client network across the Americas, Europe, the Middle East and Asia-Pacific. OpenGamma counts hedge funds, commodities trading firms and sell-side banks among its clients.  Trading Technologies said it would use OpenGamma’s relationships to expand further into the hedge fund and energy sectors, while providing OpenGamma access to a broader pool of sell-side institutions. The post Trading Technologies Acquires OpenGamma to Bolster Margin Optimisation Capabilities appeared first on LeapRate.

Under the arrangement, OCC will provide central counterparty clearing and settlement through its Stock Loan Program for State Street’s Prime Services platform, which offers custody-based securities lending solutions to investors.  The move extends OCC’s clearing services to a major global custodian bank for the first time. Oberon Knapp, managing director of strategy and head of securities finance at OCC, commented that State Street’s decision demonstrated the value central clearing can bring to custody-based services.  He highlighted capital efficiency benefits, noting that OCC’s qualifying central counterparty status can deliver around 95% risk-weighted asset savings compared with uncleared securities lending. OCC’s clearing model guarantees the value of lent shares and posted collateral, helping to mitigate counterparty credit risk and allowing clearing members to allocate more resources to core activities. Brendan Eccles, global head of Prime Services at State Street, said becoming an OCC clearing member was a strategic step reflecting the growing importance of central clearing within securities finance.  He added that the relationship strengthens capital efficiency within State Street’s custody-based Prime Services model while broadening client access to securities lending opportunities. OCC currently operates two securities lending programmes: the Stock Loan/Hedge Program, where trades are executed bilaterally, and the Market Loan Program, where trades are executed anonymously.  In both, OCC acts as principal counterparty, positioning itself between lenders and borrowers to manage risk and settlement. The post OCC Names State Street as the First Bank Clearing Member for Securities Lending appeared first on LeapRate.

The MiCAR authorisation enables Nuvei to passport crypto-asset services across EU member states, simplifying expansion for merchants and platforms seeking to deploy crypto-enabled payment and settlement capabilities in multiple European markets.  The licence covers services including cryptocurrency storage and administration, transfers, and the exchange of crypto-assets into funds, integrated within Nuvei’s global payments infrastructure. Phil Fayer, chair and chief executive of Nuvei, said the approval marked “an important milestone in the convergence of payments and digital assets”, adding that MiCAR provides long-awaited regulatory clarity for the European market. Alongside the MiCAR licence, Nuvei has also obtained a Payment Institution licence, enabling it to provide services linked to electronic money tokens.  Combined, the approvals allow the company to support crypto-asset, EMT and fiat-based payment and settlement flows through a single regulated platform. Nuvei believes customers will benefit from simplified access to crypto payments across Europe, compliant fiat-to-crypto and crypto-to-fiat transactions, faster settlement options and reduced regulatory and operational complexity when scaling across jurisdictions. The company added that the new framework will support both business clients and retail consumers.  Retail users will gain access to straightforward crypto services, while business customers will be offered tools designed to support crypto acceptance, efficient settlement and transparent, blockchain-based fund movements integrated into broader payment, payout and treasury workflows. The post Nuvei secures EU MiCAR licence to expand regulated crypto services across bloc appeared first on LeapRate.

The move marks an expansion of Visa’s stablecoin settlement pilot and its efforts to modernise the settlement layer underpinning global commerce.  Visa revealed that the capability brings seven-day settlement, faster funds movement and improved operational resilience, without changing the consumer card experience. Initial banking participants include Cross River Bank and Lead Bank, which have begun settling with Visa in USDC over the Solana blockchain. Visa said broader availability across the U.S. market is planned through 2026. The company reported that its stablecoin settlement activity has reached more than $3.5 billion in annualised volume, building on pilot programmes launched in multiple regions since it first experimented with USDC settlement in 2021. Visa is also acting as a design partner for Arc, a new Layer 1 blockchain being developed by Circle, the issuer of USDC. Visa plans to use Arc for settlement within its network and to operate a validator node once the blockchain goes live. Rubail Birwadker, Visa’s global head of growth products and strategic partnerships, believes banks are preparing to use stablecoins to improve treasury efficiency, citing demand for faster and programmable settlement options. Circle stated that the U.S. launch represented a milestone for integrating fully reserved stablecoins into institutional settlement flows.  Early banking partners highlighted benefits including clearer liquidity timing and greater interoperability between blockchain networks and traditional payment systems. Visa added that it is supporting institutions through its Stablecoins Advisory Practice as adoption accelerates. The post Visa Launches USDC Settlement in the U.S. appeared first on LeapRate.

The Australian Competition and Consumer Commission said it had issued a final determination granting authorisation to the Australian Banking Association and participating firms to work together on measures aimed at ensuring the continued distribution of cash across Australia. The approval includes reporting and transparency requirements, alongside a specific condition that obliges the ABA to undertake reasonable consultation on any cash-in-transit initiatives before reaching an in-principle agreement.  In its assessment, the regulator concluded that, with the conditions in place, the proposed conduct was likely to deliver a public benefit that outweighed any potential public detriment.  The ACCC pointed to the importance of maintaining reliable access to cash, particularly in regional and remote areas and during periods of operational disruption. The authorisation also allows collaboration on broader business continuity measures, supporting the resilience of cash services amid changing consumer behaviour and declining cash usage in some parts of the economy. The ACCC has granted the approval until 31 December 2026. The post ACCC Approves Bank Collaboration to Safeguard Australia’s Cash Distribution appeared first on LeapRate.