The combined entity, to be named SIX Clearing, is intended to streamline operations, enhance efficiency and strengthen the company’s position across European financial markets. The move remains subject to regulatory approval. SIX currently operates the two CCPs separately, though they already cooperate operationally.  By integrating them into one structure headquartered in Madrid, with additional presences in Zurich and Oslo, the group aims to gain scale and improve processes across asset classes.  The integration builds on SIX’s earlier acquisition of BME, which created a platform for wider pan-European growth. The new CCP is designed to offer interoperable links in the cash equity segment, with existing interoperability functions from SIX x-clear transferred into the combined unit.  The company expects this to make SIX Clearing a “true pan-European interoperable cash equity CCP,” and give it access to European Central Bank euro liquidity, as well as T2 and T2S infrastructure, through BME Clearing’s existing EU licence. Rafael Moral Santiago, Head of Securities Services and Executive Board Member at SIX, said the project would help the company “diversify into other asset classes and expand the reach of our offering,” positioning it to compete internationally with a more integrated post-trade solution. SIX said the timeline and final structure of the merger will depend on securing all required regulatory approvals. The post SIX Moves to Create Single Pan-European Clearing House appeared first on LeapRate.

The rollout is part of the company’s LSEG Everywhere AI strategy, which aims to deliver trusted, AI-ready data at scale.  The first phase will integrate LSEG Financial Analytics, with additional datasets and features to follow. The connector is expected to go live from the week of 8 December 2025. The integration will enable users to work with LSEG’s proprietary content, including decades of historical data, when generating analysis inside ChatGPT. Emily Prince, LSEG’s Group Head of AI, said the connector combines “a secure, enterprise AI platform” with the “depth, breadth and quality” of the group’s data and commentary. LSEG also plans to give an initial 4,000 employees access to ChatGPT Enterprise, enabling teams to streamline workflows, improve productivity and build new internal AI-driven solutions.  The firm will work with OpenAI’s technical specialists to support the adoption of new models and capabilities. OpenAI’s Head of Revenue, Ashley Kramer, said integrating LSEG’s data directly into ChatGPT would help customers “ask complex questions and move quickly with confidence.” The collaboration adds to LSEG’s expanding list of AI partnerships, which already includes Microsoft, Snowflake, Databricks and Anthropic’s Claude, as the group seeks to embed AI tools across financial markets and enterprise operations. The post LSEG Deepens OpenAI Partnership With New MCP Connector for ChatGPT appeared first on LeapRate.

CLSNet, which supports more than 120 currencies, automates and standardises post-trade matching and netting for transactions outside CLSSettlement, including many emerging-market and same-day trades.  The company said that adoption has been accelerating, with the service recording an average daily netted value of $169 billion in the first half of 2025, up 18 percent on the same period a year earlier.  The network now includes the world’s top 12 global banks and a rising number of regional institutions, funds and corporates. Standard Chartered said the move reflects its commitment to improving liquidity management and operational efficiency across FX.  Tony Hall, the bank’s Global Head of Global Markets, said the lender would deliver “safer, faster and more efficient post-trade processing, freeing up intraday liquidity and reducing settlement risk for our clients.” The expansion comes as regulators and market participants focus on reducing settlement exposure, particularly in emerging-market currencies, where usage of automated netting platforms is recommended under Principle 35 of the FX Global Code. CLS said additional Asian banks are joining the network. Taiwan’s CTBC has already gone live, while Malaysia’s Maybank and Taiwan’s Taishin have committed to join, with an emphasis on reducing risks in Asian currency pairs such as USD/CNH. CLS’s Chief Growth Officer Lisa Danio-Lewis said growing participation would enhance the “network effect,” further increasing the efficiency benefits for users as adoption widens. The post Standard Chartered Joins CLSNet as Settlement Risk Remains a Focus in FX appeared first on LeapRate.

Shah brings over 25 years of financial technology experience, joining from FlexTrade, where he served as Head of Sales for Sell-Side Solutions in EMEA.  His career includes senior roles at Cosaic and a long tenure at Fidessa, where he oversaw EMEA sales and account management across the firm’s product suite. TT said Shah will lead the regional sales strategy as the company expands beyond its flagship futures and options platforms. The firm now offers services across the trade lifecycle and is developing new tools for additional asset classes. Alun Green, TT’s EVP and Managing Director for Futures and Options, said Shah “brings terrific and very relevant experience” and has “a proven track record of success in designing and executing sales and business growth strategies”. He added that TT’s broadened product suite allows the sales team to deliver “end-to-end and bespoke solutions”. Shah holds a computer science degree from Cardiff University and is expected to help deepen TT’s client relationships across major financial hubs in Europe and the Middle East. The post Trading Technologies Hires Rajiv Shah to Lead EMEA Sales Push appeared first on LeapRate.

Total new capital quoted reached $10.9 billion, more than double the $4.3 billion reported in the same month last year.  Net new capital quoted rose to $9.3 billion, compared with $4.3 billion a year earlier, helped by a significant increase in other capital raised, including scrip-for-scrip transactions.  Year-to-date net new capital now stands at $19.3 billion, a dramatic swing from the negative $15.3 billion recorded in the prior period. Trading volumes also accelerated. The average daily number of cash-market trades increased 54% year on year, while average daily on-market traded value rose 26% to $7.26 billion. Total cash-market value for the month stood at $178.5 billion, up 26%. Volatility picked up, with the average daily movement in the All Ordinaries Index rising to 0.7%, compared with 0.5% a year earlier. The S&P/ASX 200 VIX averaged 12.4, marking a 10% rise. Derivatives activity also expanded. Average daily futures volume increased 24% year on year, while options on futures saw an 84% jump. OTC interest-rate derivatives clearing surged 63% to $748 billion in notional value. ASX settlement systems showed continued growth, with CHESS holdings up 7% and Austraclear holdings up 8%. Participant numbers remained stable, with no admissions or resignations during the month. The post ASX Trading Activity Surges in November as Capital Raisings Climb appeared first on LeapRate.

The new ETFs, each offered in two currencies, allocate at least 80% of assets to either European or U.S. companies listed on regulated markets.  The funds are actively managed with reference to the MSCI Europe and Russell 1000 indices, respectively, and aim to provide targeted, high-conviction exposure within core equity allocations. Their debut expands SIX’s already extensive ETF universe. The exchange now hosts 35 ETF issuers offering 2,100 ETFs, including 298 new listings this year. Of those, 111 actively managed ETFs have launched, its highest tally in eight years. Eva Maria Hintner, Columbia Threadneedle’s Country Head for Switzerland, said the market environment demands solutions that can “deliver attractive returns after costs, cushion downside risk and avoid the concentration risks” of major indices.  She added that the firm’s active equity ETFs offer “genuine active management in an ETF wrapper” and are designed to sit at the core of client portfolios. SIX’s Senior ETFs & ETPs Sales Manager, Danielle Reischuk, said the arrival of Columbia Threadneedle “further broadens the range of actively managed ETF products” and reinforces the strength and diversity of the exchange’s marketplace. Columbia Threadneedle oversees more than $675 billion in client assets globally and manages a research-driven investment platform with 550 investment professionals across North America, Europe and Asia. The post Columbia Threadneedle Joins SIX as ETF Issuer With Two Active Funds appeared first on LeapRate.

Nelson has served as interim Chair since 1 October and joined the board in 2023. A long-standing figure in financial services, Nelson previously led KPMG’s Global Financial Services Practice, where he advised international banks, and has held board roles at BP, RBS and HSBC.  The bank stated that his extensive governance and industry experience was central to the board’s decision. Senior Independent Director Ann Godbehere, who led the appointment process, said she was “delighted” with the decision, adding that Nelson has shown “excellent leadership capabilities backed by his strong banking and governance credentials”. Nelson said he was “honoured to be HSBC Group Chair” and looked forward to working with the board and the executive team, including Group CEO Georges Elhedery, to deliver on the bank’s strategic and financial objectives. He will continue to chair the Group Audit Committee until HSBC publishes its 2025 results in February 2026, after which the bank will outline plans for his successor in that role.  The appointment comes as HSBC continues to advance its technology and operational transformation plans while navigating a complex global interest-rate environment and shifting regulatory landscape. The post HSBC Appoints Brendan Nelson as Group Chair appeared first on LeapRate.

The AIM-listed firm has signed a three-year Private Cloud agreement with a major Canadian bank, worth $1.5 million, and an additional £2 million Proximity Cloud extension with a large FX broker.  The latter brings the total value of that contract to £4 million over five years. Revenue from both deals will begin in the second half of FY26. Beeks believes the latest wins demonstrate “continued sales momentum” across its portfolio.  The firm explained that its Private Cloud platform offers a dedicated, scalable environment tailored to a single client and hosted in a preferred data centre. Proximity Cloud is said to provide a high-performance, low-latency trading environment owned by the client and deployed in global locations. Chief Executive Gordon McArthur stated the company has “a wide range of opportunities progressing through our sales pipeline,” reflecting increasing appetite for specialist cloud infrastructure in financial markets.  He added that development of Market Edge Intelligence, Beeks’ newest product, is progressing as planned and opens “a significant additional market for the Group”. McArthur also highlighted that several Exchange Cloud contracts are nearing completion, reinforcing the firm’s confidence in delivering further growth.  The company said the wins build on a strong start to the financial year and position the business well for sustained operational and commercial momentum. The post Beeks Announces Two Major Contract Wins appeared first on LeapRate.

The Montreal-based payments group said running its core APIs on Azure provides an “AI-native foundation” capable of optimising transactions in real time and improving global latency, resilience and authorisation outcomes.  The company aims for 99.999% availability, positioning itself among the highest-capacity processors worldwide as it targets more than $1 trillion in annual payment volume. Nuvei’s the move is part of a multi-year cloud modernisation strategy to enhance performance and reduce reliance on third-party technologies.  The new architecture spans four regions, UK South, Sweden Central, U.S. West and U.S. East, to maximise redundancy and consistency across markets. Chief Executive Phil Fayer commented that the upgrade ensures “every payment should succeed with speed and accuracy, every time,” adding that Azure’s infrastructure strengthens performance and enables new AI-driven capabilities as enterprise merchants grow internationally. Microsoft’s Global Head of Payments Strategy, Tyler Pichach, noted that Azure’s AI-ready environment complements Nuvei’s expertise, enabling “resilient, responsive and optimised payment experiences” for global commerce. Nuvei added that the migration also integrates a suite of Azure security tools, including Azure Firewall, Azure Defender for Cloud and Web Application Firewall, providing enhanced protection and regulatory compliance for enterprise clients. The post Nuvei Expands Microsoft Partnership to Boost Global Payments Capacity appeared first on LeapRate.

The derivatives giant revealed that the only month to surpass this was April 2025, when volume reached 35.9 million contracts. Growth was said to have been broad-based, spanning interest rates, equities, energy, metals, agriculture and foreign exchange. Cryptocurrency futures and options set a new record, with ADV climbing 78% year-on-year to 424,000 contracts, representing $13.2bn in notional value. Interest rate products remained the company’s largest asset class, averaging 17.5 million contracts per day. Ultra U.S. Treasury Bond futures reached a record ADV of 746,000, while activity in SOFR options rose 18% to 1.6 million. Equity index products also saw strong demand, with ADV rising 39% and notable increases in Micro E-mini Nasdaq 100 and Micro E-mini S&P 500 futures. Metals volumes surged 52%, led by a sharp rise in Micro Gold and Micro Silver futures trading. Agricultural products gained 8%, with higher activity in corn and soybean meal futures. International participation continued to grow, with ADV outside the U.S. rising 6%, including gains across EMEA, Asia-Pacific and Latin America. BrokerTec’s U.S. repo market also saw strong momentum, with average daily notional value up 17% to $386bn. CME Group said the figures highlight continued demand for hedging and trading tools across global markets during a period of shifting interest rate expectations and heightened geopolitical uncertainty. The post CME Group Posts Second-Highest Monthly Trading Volume appeared first on LeapRate.

The world’s largest derivatives marketplace revealed that the new entity is expected to go live in the second quarter of 2026, ahead of the SEC’s deadline mandating clearing for U.S. Treasury trades from 31 December 2026 and for repo trades from 30 June 2027. CME Group Chairman and CEO Terry Duffy remarked that the approval comes at a crucial moment for market participants preparing for the regulatory overhaul.  “Expanded clearing capacity and capital efficiencies are critical for all market participants working to comply with the U.S. Treasury clearing mandate,” he said. The new clearing house will support both “done-with” and “done-away” execution and extend cross-margining with the Fixed Income Clearing Corporation (FICC), a key feature for institutions seeking risk-offsetting benefits across portfolios. CME Group already plays a central role in U.S. interest rate markets and said the new clearing service will further enhance liquidity, transparency and operational resilience across the Treasury ecosystem. The post CME Group Gains SEC Approval for New Securities Clearing House appeared first on LeapRate.

Backed, founded in 2021, has emerged as a leader in tokenised assets, with xStocks surpassing $10bn in combined exchange and on-chain trading volume within six months of launch.  Its tokens, backed 1:1 by underlying equities and ETFs, are already live on Solana and Ethereum, with further integrations planned across TON, Tron, Mantle and BNB Chain. Kraken said bringing Backed fully in-house “unifies issuance, trading and settlement,” enabling the two firms to expand xStocks into new markets and everyday financial applications.  Co-CEO Arjun Sethi stated that the acquisition “strengthens the core architecture required for open and programmable capital markets,” describing tokenised ownership as “foundational work for the next era of market structure.” The move also advances Kraken’s strategy of vertically integrating its infrastructure, following recent acquisitions including Breakout, Small Exchange and NinjaTrader.  Backed’s team will join Kraken, enhancing compliance and issuance capabilities while expanding the use of tokenised assets across its ecosystem, including its global money app, Krak. Backed Co-Founder Adam Levi said Kraken’s scale will help “accelerate the expansion of infrastructure designed to democratise financial access across the world.” The post Kraken to Acquire Backed, Expanding Push Into Tokenised Equities appeared first on LeapRate.

The approval marks a major step in Thunes’ plans to widen the scope of its Singapore-based operations.  Once the variation is formally granted, the company will be authorised to provide account issuance, domestic money transfer, merchant acquisition and e-money issuance services in addition to its existing cross-border money transfer activities.  Thunes stated that the expanded permissions will allow Singapore merchants to accept payments from customers around the world using widely adopted international methods, while also enabling overseas merchants to offer popular local Singapore options such as PayNow and GrabPay. The company’s global network already supports more than 320 local payment methods, underpinned by more than 50 financial service licences across multiple jurisdictions. Peter De Caluwe, co-founder and CEO of Thunes Group, commented that the approval was “a major step forward” for the group’s international strategy, reinforcing Singapore’s role as its global headquarters.  He added that the company is committed to “connect markets, empower merchants, and expand our trusted Direct Global Network”. Ruwan De Soyza, the group’s general counsel, said strong governance and regulatory rigour remain central to Thunes’ operations, calling the decision an important milestone in building “a safer, more connected global payments ecosystem”. The company will continue working with the regulator to meet remaining conditions before the licence variation is formally awarded. The post Thunes Secures In-Principle Approval to Broaden Singapore Payments Licence appeared first on LeapRate.

The regulator said that from July 2018 to April 2024, the broker either failed to report or inaccurately reported more than 12,000 fixed-income transactions to the Trade Reporting and Compliance Engine.  In many cases, the firm incorrectly reported its execution capacity, while more than 4,000 transactions with a non-member affiliate were not reported at all due to human error. FINRA stated that such failures compromise the transparency and integrity of TRACE, which provides market participants with crucial pricing information. Separately, from at least July 2018 to September 2024, the firm issued more than 11,000 customer confirmations that omitted the price of the security because of a coding error.  FINRA held that this breached SEC Rule 10b-10 and FINRA Rule 2232, which require disclosure of essential transaction terms. The regulator also found supervisory lapses, stating that the firm did not maintain or enforce procedures to ensure confirmation accuracy, in violation of Rule 3110. The firm accepted the findings without admitting or denying them. The post FINRA Fines Intesa Sanpaolo IMI Securities $125,000 Over Reporting Failures appeared first on LeapRate.

The figure was, however, 4 per cent lower than October’s level. Client equity ended the month at $769.7 billion, up 34 per cent from a year earlier, while margin loan balances rose 38 per cent to $83.3 billion.  Client accounts totalled 4.311 million, a 33 per cent annual increase. Average annualised cleared DARTs per account stood at 214. The broker reported an average commission of $2.62 per cleared commissionable order, including exchange, clearing and regulatory fees.  For U.S. Reg-NMS stock trades, the average order size was 809 shares with a commission of $1.94. Futures and options activity also remained active, with average commissions of $3.82 and $3.84, respectively. Interactive Brokers also published its execution-quality data. It said the all-in cost for IBKR Pro clients trading U.S. Reg-NMS stocks was around 3.0 basis points of trade money in November, with the rolling 12-month average at 2.8 basis points. The firm noted that this benchmark includes extended trading hours to reflect client activity. GLOBAL, the company’s currency-diversified equity benchmark, rose 0.05 per cent in November and is up 1.767 per cent year-to-date. The post Interactive Brokers Posts 29% Rise in DARTs as Client Accounts Grow appeared first on LeapRate.

The initiative will offer qualified participants equity-linked rewards in the form of warrants tied to Kraken’s long-term performance, a first among major global crypto exchanges. The programme is targeted at the exchange’s largest clients by trading volume, subject to standard compliance requirements. Kraken said the structure is competitive, transparent and rule-based, allowing participants who contribute meaningfully to liquidity to earn incentives that align their success with the exchange’s future growth. The company’s initiative is said to reflect its belief that “stronger markets benefit everyone,” from retail users to institutional participants.  By linking incentives to market health, Kraken stated that it aims to create a “living network of trust, innovation and resilience,” where collaboration and competition reinforce overall market integrity. The exchange emphasised that improved liquidity and broader participation would create a more efficient trading environment.  Kraken described the programme as the first step in a wider framework designed to enhance market quality and support the next phase of exchange development. As Kraken continues to scale its infrastructure, the company noted that it will introduce further initiatives that align client outcomes with its mission of advancing global cryptocurrency adoption through transparent, well-functioning markets. The post Kraken Introduces Market Participation Programme to Strengthen Liquidity appeared first on LeapRate.

The exchange, part of Intercontinental Exchange, has grown rapidly as companies seek to take advantage of Texas’s pro-business climate and the NYSE’s established market infrastructure. The combined market capitalisation of the companies listed on NYSE Texas now exceeds $2 trillion. Listings span 11 industries, including technology, consumer discretionary and energy, reflecting broad interest from issuers. The venue accepts operating companies, closed-end funds and ETFs. Lynn Martin, president of NYSE Group, believes the achievement “reflects the demand for the NYSE’s best-in-class offerings in the pro-business environment fostered by Governor Abbott in the Lone Star State.”  She added that the exchange expects to maintain its momentum into 2026. Bryan Daniel, president of NYSE Texas, called the milestone an “important moment” for the state, highlighting efforts to support issuers since the exchange’s launch.  Texas is already home to more NYSE-listed companies than any other U.S. state, representing more than $3.9 trillion in market value. NYSE Texas was established to give issuers additional flexibility while retaining access to the broader NYSE ecosystem.  The exchange is positioned as a key part of the NYSE’s regional expansion strategy at a time when companies continue to reassess listing venues and regulatory frameworks. The exchange said it will continue to focus on strengthening its issuer community while supporting future dual-listing activity. The post NYSE Texas Reaches 100 Dual Listings Nine Months After Launch appeared first on LeapRate.

Innovator oversees $28 billion in assets under supervision across 159 defined outcome ETFs, offering strategies focused on income, buffers and growth.  Goldman Sachs said the transaction, expected to close in the second quarter of 2026 pending regulatory approval, will significantly broaden its active ETF capabilities and strengthen its long-term product roadmap.  The consideration will total about $2 billion, payable in cash and equity subject to performance targets. David Solomon, Goldman Sachs’ chairman and chief executive, commented that the acquisition would “expand access to modern, world-class investment products for investor portfolios,” adding that Innovator’s leadership in defined outcome solutions aligns with the bank’s aim of delivering targeted, sophisticated strategies. Defined outcome ETFs have surged in popularity, with global active ETF assets rising to $1.6 trillion and growing at a 47 per cent compound annual rate since 2020.  Innovator’s founders, Bruce Bond, John Southard, Graham Day and Trevor Terrell, will join Goldman Sachs Asset Management, together with more than 60 employees. The deal will take the combined ETF lineup to over 215 strategies with more than $75 billion in assets under supervision, positioning Goldman Sachs as a top-ten active ETF provider globally. Goldman Sachs believes the acquisition reinforces its broader strategy to expand durable revenue and meet investor demand for innovative portfolio solutions. The post Goldman Sachs to Acquire Innovator Capital Management in $2 Billion Deal appeared first on LeapRate.

The agreement gives HSBC access to Mistral’s commercial and future AI models, which will be integrated into the bank’s internal systems.  The two companies’ applied AI and engineering teams will work jointly to develop tailored solutions for a wide range of business needs, from financial analysis to multilingual translation and workflow automation. HSBC believes the collaboration will strengthen an existing AI-based productivity platform already used by staff globally, enabling faster creation of tailored client communications, more efficient marketing campaigns and better identification of risk and savings opportunities in procurement.  The bank also expects improvements in document-heavy lending processes and customer-interaction tools. Future applications will focus on enhancing credit and onboarding processes, as well as strengthening fraud and anti-money-laundering systems.  Both organisations emphasised their commitment to responsible AI deployment, including privacy safeguards and transparency standards. Group CEO Georges Elhedery said the partnership would “equip our colleagues with tools to help them innovate, simplify daily tasks, and free up time to deliver for our customers.”  Mistral AI chief executive Arthur Mensch added that the collaboration would reinvent HSBC’s workflows while ensuring full ownership of data. The partnership forms part of HSBC’s broader investment in AI technologies as the bank modernises operations across its 57-country footprint. The post HSBC and Mistral AI Form Strategic Partnership to Accelerate Generative AI Adoption appeared first on LeapRate.

FanDuel Prediction Markets, structured as a non-clearing Futures Commission Merchant and joint venture between CME and FanDuel’s parent company Flutter Entertainment, will rely on Plus500 to provide brokerage-execution and clearing services.  The arrangement enables the platform to use Plus500’s institutional-grade systems to ensure secure, scalable access to clients trading the new event-driven instruments. Plus500 said the partnership underscores its role as a market-infrastructure provider capable of supporting execution, settlement and risk-management processes for emerging trading formats.  The collaboration also strengthens the company’s push into the rapidly expanding market for regulated prediction products. Chief executive David Zruia described the appointment as a “historic milestone”, adding that it reflects Plus500’s position as a trusted operator built on proprietary technology and “world-leading operational strengths”.  The company said it plans to apply the same infrastructure to future products as the global market for event-based trading evolves. Plus500 noted that its technology architecture, regulatory expertise and clearing systems place it in a strong position to support other B2B clients, including institutional platforms seeking a reliable clearing partner.  The firm is aiming to build a broader presence in event-driven markets as interest in alternative trading formats continues to grow. The post Plus500 Selected to Clear New CME–FanDuel Event-Based Prediction Markets appeared first on LeapRate.