23-hour US stock trading set to start 6 December
Overnight trading already accounts for about 1% of total US stock volume as the move to near-continuous weekday sessions approaches.
Market Structure
Venues, routing, trading hours, fees, tick sizes, settlement, clearing, tokenised trading, and the trading technology and execution that connect them.
Nine issuers, including Broadcom, Verizon and UnitedHealth, object to OKX-ICE tokenised stock venue
Listed companies are pushing back against the planned venue for tokenised trading of their shares.
Single-stock perpetual futures due early November, with Kalshi, Coinbase and Bitnomial preparing launches
The SEC's Jamie Selway named five firms or their affiliates as getting ready to launch the products.
HKEX targets the second half of 2028 for T+1 in Hong Kong cash equities
Consultation conclusions set out a three-layer plan covering evening free-of-payment runs, real-time settlement instruction APIs and industry working groups. Southbound Stock Connect will move to T+1 as well.
ESMA spells out when venues and NCAs can change an EU share's tick size
An update to the MiFIR transparency manual collects the tick-size Q&As, adds guidance on manual intervention and corporate actions, and sets out OTC derivatives reference data for the tape.
SEC approves Cboe binary options on company KPIs
The $1 all-or-nothing contracts pay out on reported figures such as AWS sales or Tesla deliveries. They will trade as listed NMS options, with insider-trading surveillance built in.
Texas listings race: TXSE offers issuers 30% of auction revenue as Nasdaq Texas plans primary listings
Schwab dual-lists, energy and banking names are set to transfer, and TXSE files a revenue-sharing model aimed at the NYSE–Nasdaq 'duopoly'.
ASX's CHESS replacement reaches Drop 3 as corporate-action scope comes under pressure
Clearing, payments and registry functions are now in industry testing. ASX is considering moving some Drop 5 scope into Drop 6 and has named the TMX–Cboe deal as a readiness risk.
Overnight plumbing: clearing letters, reference prices and an earlier LULD snapshot
Three filings published between 30 September and 7 October sort out the details behind 23x5 trading for clearing firms, risk controls and ATSs.
Cboe Clear Europe adds US equities to its securities lending CCP
From mid-October, non-US lenders and borrowers can centrally clear loans of Russell 3000 stocks and the top 500 US ETFs, settling at DTC through BNY.
Treasury names six banks to lead the UK's first digital gilt
Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets will underwrite and distribute the DIGIT pilot, which is expected by Q1 2027.
Eurex to list cleared Japanese single-stock and dividend futures from 2 November
The products, Eurex's first on Asian underlyings, start with ten Nikkei 225 names and trade 21 hours a day. They are aimed at bilateral equity-swap financing in yen and dollars.
SGX cuts board lots for 11 stocks, including the three Singapore banks
Minimum trading sizes drop from 100 to 10 units for stocks priced above S$10, and to a single unit above S$100. The stocks affected made up 35% of first-half trading.
ESMA's 2027 work plan: derivatives tape in Q2, T+1 delivery and a first volume-cap report
The work programme says the EU regulator is moving from preparation to delivery. Consolidated tapes, the 11 October 2027 T+1 date and transaction-reporting reform dominate the markets agenda.
Euronext opens its CSD network to Amsterdam, Brussels and Paris trades
Since 21 September, members can settle equities and euro ETPs from the three markets at Euronext Securities, and issuers can move their issuer CSD there free of charge.
First tokenised stock venue files notice under SEC Innovation Exemption
TSV LLC plans permissioned AMM pools on Canton, but has to clear the order's public-ledger condition before it can trade.
Rathi: tokenisation is creating 'parallel market structures' that regulators must keep up with
The FCA chief executive said the UK must move from pilots to adoption. He flagged a joint roadmap with the Bank of England and planned safeguarding rules, and questioned how disclosure and market abuse will work in 24/7 markets.
Eurosystem goes live with Pontes, bringing central bank money to tokenised settlement
Thirteen banks and four DLT operators have onboarded for launch. Longer hours and more features will be phased in, with full implementation expected by 2028.