The companies, products and regulatory developments shaping the broker industry.
The change requires separate confirmations from the ETF agent and an NSCC-member authorised participant. The US$15 billion and 98% checks already exist; implementation and legal effectiveness are different dates.
SGX October disclosures put FX contracts up 27%, its INR/USD daily volume up 40% and USD/CNH up 16%. Reconstructing the implied bases reveals a more concentrated currency story than the headline total.
A September–October volume decomposition finds a 13.7% rise in contracts alongside a 24.3% fall in aggregate yen value, with 46.5% of October contracts executed at night.
Marex's third-quarter release reveals that roughly 86% of incremental nine-month revenue came from trading income, as gross assets increased $12.7bn against a restated prior-year balance sheet.
MAS launches central-bank gold custody with a 500-tonne vault, extends proposed wholesale service GST relief from April 2027 and targets gold clearing infrastructure in 2027.
River Markets says its River Finance affiliate is a CFTC-registered futures commission merchant and NFA member; its cross-venue capital and financing model remains a staged build.
A reconstructed yield fell about eight basis points as rates eased. Marex offset the pressure by carrying a much larger clearing-balance base.
The broker-dealer remained far above its regulatory minimum, while a March FINRA settlement tied earlier rapid growth to trade-reporting capacity and supervisory failures.
A reconstruction of Marex’s third-quarter interest bridge shows gross income rising on a 35.5% larger balance base, before higher client payouts and group funding costs reduced consolidated net interest income.
Audited filings connect five group brokers to Futu Clearing, revealing $56.6 million of affiliate fees, multibillion-dollar financing balances and a single US infrastructure hub behind several local Moomoo markets.
Audited records reveal the group’s cross-border custody and clearing dependencies, while the public $231 million deal announcement leaves the exact transaction perimeter and required approvals unnamed
The January event equalled more than 15% of nine-month clearing profit, but the company has not disclosed the position, collateral shortfall or client identity
The SGX annual report discloses a reciprocal cross-exchange collateral structure: CME lodged a S$517.8m letter of credit, while SGX-DC carried S$491.9m of related guarantees. The mechanism is distinct from ordinary member margin and cannot be read as free corporate liquidity.
LSEG’s own bridge assigns 140 of 260 basis points to a revenue-sharing change, separating contractual economics from underlying operating improvement.
Euronext reported €411.4bn of assets at Q3. The filing shows €401.7bn belonged to its CCP clearing business, a gross matched structure that makes unadjusted leverage and asset-efficiency ratios misleading.