The companies, products and regulatory developments shaping the broker industry.
The approved reform ties eligible cash interest to IORB less a charge, broadens potential Federal Reserve custody and excludes cross-margin cash. The clearing member is the recipient named in the rules.
ESMA’s revised protocols create an early broker-client automation deadline on 7 December 2026 even though the EU settlement cycle changes on 11 October 2027; the distinction affects operational readiness and client agreements.
A facts-specific no-action position lets two Morgan Stanley broker-dealers avoid an immediate net-capital deduction for designated affiliated-bank settlement accounts, subject to six operational conditions and a three-business-day backstop.
The payment-infrastructure supplier reported sharply higher new annual-recurring-revenue bookings alongside lower recognised quarterly revenue and a first live ACI Connetic customer.
Five North, DRW Cumberland and Flowdesk took roles in a permissioned transaction on TSV; the company says issuer-sponsored shares retained normal shareholder rights.
A 5 November update confirms operational use of the cross-border post-trade model rather than another generic earnings announcement.
Japan’s OSE has published revised expiry calendars for physically delivered and cash-settled government-bond futures beginning with the September 2027 contract.
The DFSA's newly released tokenisation white paper places custody, settlement interoperability and cross-border responsibilities at the centre of market-structure development.
India has published practical access to its 2026 administrative and civil settlement framework, with separate application windows and a transition arrangement for existing proceedings.
HKMA says Project Ensemble’s controlled pilot now supports round-the-clock interbank settlement of tokenised deposits in tokenised central-bank money, with 12 participating banks.
The company cites more than 30 liquidity providers and support for fiat and digital-asset settlement. Its internal matching-speed claim is distinct from the time an end customer experiences for an order.
The service offers electronic access to executable quotes around the clock, with no-prefunding and flexible settlement available to eligible clients. Its 1,500-client figure describes the wider prime business, not adoption of the new API.
Monthly settled volume edged above September, while average daily transactions fell to $345bn from $359bn. The distinction tempers the headline growth in tokenised repo throughput.
From April 2027 SEBI will permit same-scheme, same-cycle cash netting for eligible outright mutual-fund trades; securities still settle gross.
Canton Strategic says CNTN shares changed hands on TSV on 4 November, moving an issuer-backed tokenised equity pilot from a planned launch to completed transactions under restricted access.