The companies, products and regulatory developments shaping the broker industry.
The Clearing Amendment Rules preserve Hong Kong’s US$20bn threshold but replace repeated date-setting amendments with recurring March–May and September–November calculation periods. The 1 March 2027 start remains subject to negative vetting.
The regulator’s 30 October relief excludes specified non-US and inter-affiliate transactions; it does not postpone or repeal the broader Treasury clearing programme.
Sponsored cleared repo reached $2.4tn, or 31% of the measured total. The monthly-average series is a clearing-adoption indicator, not an accounting of every repo trade or a single-day record.
Draft expectations focus on liquidation, ownership and technology dependencies. The consultation leaves the eligible-asset list unchanged and does not authorise stablecoins as clearing collateral.
The evidence call closes on 15 January 2027. It examines legal and operational resilience without granting new collateral eligibility.
The announced mid-October expansion targets Russell 3000 shares and major ETFs for non-US lenders and borrowers, with settlement through DTC.
South Africa’s approval extends the CCP’s licence; the proposed settlement model makes member funding and failed-trade allocation central to implementation.
Lending desks could submit trades through their existing platform, as Cboe widens instrument coverage and retains separate participation rules for US securities.
Bilateral US Treasury cash participants must establish clearing access and adapt post-trade records ahead of the wider year-end deadline. Treasury Link remains a separate 2027 product milestone.
Ten underlyings will support stock and dividend futures, cash settlement and extended trading hours. Participants need the Cash JPY capacity group as part of the initial readiness exercise.
Eligible cash transactions reach the 31 December compliance date before repo follows in June. Brokers and funds need an agreed route into clearing and a tested process for exceptions.
The call for evidence tests digital twins, native DLT assets and hybrid arrangements against liquidity, segregation, finality and default-management requirements.