Total repo volumes reached $7.4 trillion for the month, highlighting strong momentum behind the use of distributed-ledger technology to modernise post-trade infrastructure.  The DLR platform enables participants to execute and settle repo transactions using tokenised securities, aiming to improve liquidity, transparency and operational efficiency. Horacio Barakat, head of digital innovation at Broadridge, stated that tokenisation had “moved from concept to real-world transformation,” adding that platforms capable of operating at institutional scale were “unlocking new levels of efficiency, liquidity, and investor access.” Broadridge notes that institutions increasingly rely on trusted infrastructure partners as they transition towards integrating digital and traditional financial ecosystems.  The firm sees tokenisation as a structural shift in market architecture, providing benefits in settlement speed, collateral mobility and operational resilience. The rapid growth in DLR adoption reflects wider industry interest in tokenised assets, blockchain-based settlement and interoperable ledger systems. The post Broadridge DLR Platform Processes $368bn in Daily Trades as Tokenisation Accelerates appeared first on LeapRate.

AEGIS Markets, regulated by the U.S. Commodity Futures Trading Commission, provides a centralised venue for producers, consumers and financial institutions to hedge energy and commodity exposures.  In volume terms, two million contracts equate to roughly two billion barrels of crude oil hedged since inception. Chief executive Bryan Sansbury believes the milestone showed “how quickly the industry is embracing modern market infrastructure,” adding that all market participants “deserve transparent and efficient execution.” The platform has recorded substantial growth in 2025, with year-to-date trading activity up 48 percent and customer-managed trading up 175 percent. AEGIS currently has 38 active dealers providing liquidity and 278 hedgers executing trades. The company added that the adoption reflects a shift away from opaque bilateral channels towards digital execution, enhanced price discovery and automated post-trade processing.  AEGIS Markets has expanded its tools to reduce friction, improve back-office efficiency and provide analytics for more confident hedging decisions. Andrew Furman, president of AEGIS Markets, noted that the platform reached its first million contracts in 26 months and its second in just 13 months, adding: “We are only just beginning.” Any firm hedging commodity exposures through bilateral swaps is eligible to use the marketplace. The post AEGIS Markets Passes 2 Million Contracts as Digital Hedging Demand Rises appeared first on LeapRate.

The Australian Securities and Investments Commission (ASIC) said Friday that FXCM’s TMD inappropriately included investors with a medium risk appetite, despite CFDs being high-risk derivatives.  The watchdog argued that the characteristics of FXCM’s CFDs, including leverage, volatility, liquidity constraints and pricing risk, made them “unlikely to be suitable” for such investors. The order prevents FXCM from issuing CFDs to retail clients or opening new accounts for those wishing to trade CFDs referencing currency pairs and forex baskets, commodities and treasuries, stock indices, equities, equity baskets and cryptocurrencies. Existing clients may continue to vary or close positions. ASIC stated that the intervention was necessary because distributing the products under the current TMD was “unlikely to be consistent” with the needs, financial objectives or circumstances of the target market. The temporary order, which lasts 21 days unless revoked earlier, aims to prevent consumer harm while the firm reviews its obligations. The regulator stressed that issuers of retail derivatives must define an appropriate target market and ensure products are distributed accordingly. CFDs have been subject to enhanced regulatory scrutiny since ASIC’s product intervention orders in 2020, which followed several reviews showing that most retail traders lose money. The action comes after recent ASIC reports highlighted widespread weaknesses in compliance with design and distribution obligations among OTC derivatives issuers, including over-reliance on questionnaires and inadequate monitoring of distribution channels. The post ASIC Issues Stop Order Against FXCM Over CFD Targeting Concerns appeared first on LeapRate.

The enhancement covers funds domiciled across the UAE, including structures based in the Dubai International Financial Centre and Abu Dhabi Global Market.  Clearstream explained that the new capability applies to a broad range of products, from open-ended mutual funds to closed-ended private equity and venture capital funds. Vestima, which Clearstream describes as the world’s largest cross-border fund processing platform, is said to provide a single point of access for order routing, safekeeping and processing across mutual funds, ETFs and alternative funds such as ELTIFs, private equity, real estate and hedge funds.  The addition of UAE-domiciled funds expands the geographic scope of the platform and adds further diversity to the range of funds accessible to global clients. Clearstream said the development marks an important step in its strategy to broaden its international footprint and increase the variety of fund types available through its infrastructure. The post Clearstream Adds UAE-Domiciled Funds to Vestima Platform appeared first on LeapRate.

The agreement will allow Equiti to broaden product access, enhance execution quality and support new asset classes across regions.  TraderEvolution’s technology is designed to provide improved performance, smoother operational flows and more advanced tools for traders navigating volatile and fast-moving markets. Equiti said the partnership is a core part of its plan to deliver faster, more flexible trading.  Husam Al Kurdi, CEO of Equiti Cyprus, said the deal “aligns with our ambition to widen the product range and market access available to our clients,” adding that the firm’s priority is to ensure traders have “the reach and usability required to navigate global markets confidently.” The move is expected to support Equiti’s work to provide a seamless trading experience, building on its existing infrastructure while expanding the number of instruments and trading environments it can support. TraderEvolution CEO Roman Nalivayko stated that the firm was seeing a rising number of established global brokerages adopt its technology, noting that its “multi-asset strengths and back-end-first architecture give brokers unparalleled control and flexibility.” The post Equiti Partners with TraderEvolution to Boost Multi-Asset Trading Capability appeared first on LeapRate.

The broker, which serves more than 15 million clients worldwide, said the approval reflects its commitment to “robust regulatory standards” and reinforces its focus on maintaining a “secure, transparent and client-first trading environment.” Co-CEO Menelaos Menelaou said the UAE had established itself as “a world-class financial hub”, adding that SCA authorisation “underscores our commitment to long-term growth and trust in the region.” The licence allows XM to offer its full suite of trading services directly to clients across Dubai and the wider Emirates.  The firm has launched a dedicated UAE platform, xm.ae, available in both Arabic and English, offering access to its trading products, analytical tools, educational materials and support services. XM said the authorisation brings local clients closer to its global ecosystem, enhancing onboarding and giving UAE traders direct access to its established international infrastructure.  The approval also enables the company to deepen its regional footprint at a time of growing investor interest in regulated multi-asset trading platforms. The post XM Secures UAE Licence as Broker Expands Regional Footprint appeared first on LeapRate.

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.