Free, practitioner-led news on market structure, regulation and prediction markets across the US, Europe, the UK and APAC. No paywall. No subscription.https://themidpointnews.com/en-gbhttps://themidpointnews.com/news/sec-exam-priorities-fy2027-tokenisation-extended-hours/https://themidpointnews.com/news/sec-exam-priorities-fy2027-tokenisation-extended-hours/The Division of Examinations' FY 2027 priorities say it will check whether liquidity providers are ready for longer trading days and will scrutinise best execution, Treasury clearing and Reg SCI systems.Mon, 26 Oct 2026 13:05:00 GMTRegulationSECExaminationsExtended hoursBest executionTokenisationTreasury clearingReg SCIClearinghttps://themidpointnews.com/news/cboe-clear-us-sec-clearing-agency-kpi-binaries/https://themidpointnews.com/news/cboe-clear-us-sec-clearing-agency-kpi-binaries/Cboe's clearing house can now clear securities products too. Its first job will be the binary options on company KPIs that Cboe plans to list, with Robinhood access, in the fourth quarter.Mon, 26 Oct 2026 13:00:00 GMTMarket StructureCboeClearingSECCFTCBinary optionsKPIOCCRobinhoodhttps://themidpointnews.com/news/sec-selway-rule-611-best-execution/https://themidpointnews.com/news/sec-selway-rule-611-best-execution/The SEC's trading and markets director says any change to the trade-through rule, which the Commission has proposed rescinding, must be coordinated with modernised best-execution requirements. FINRA's review of its own best-execution guidance is running in parallel.Sat, 24 Oct 2026 09:00:00 GMTRegulationSECRule 611Order protectionReg NMSBest executionFINRAAccess feesTick sizesUS equitieshttps://themidpointnews.com/news/us-23-hour-trading-6-december/https://themidpointnews.com/news/us-23-hour-trading-6-december/NYSE Arca plans to launch an overnight session on 6 December and Nasdaq has told members it will add one the same day. Both exchanges must still clear further regulatory steps, while the SIPs, FINRA's trade reporting facilities and NSCC have set out their own 23x5 timetables.Sat, 24 Oct 2026 08:30:00 GMTMarket StructureTrading hoursOvernight tradingUS equitiesNYSE ArcaNasdaqSIPNSCChttps://themidpointnews.com/news/midterm-prediction-markets-volume-utah-sues-kalshi/https://themidpointnews.com/news/midterm-prediction-markets-volume-utah-sues-kalshi/Utah has filed suit against Kalshi and two Susquehanna firms, Polymarket has sued Ohio, and trading on the midterm elections has passed $1.4bn.Sat, 24 Oct 2026 07:00:00 GMTPrediction MarketsKalshiPolymarketSusquehannaUtahOhioMidtermsLitigationhttps://themidpointnews.com/news/cftc-proposes-event-contracts-as-swaps/https://themidpointnews.com/news/cftc-proposes-event-contracts-as-swaps/The regulator has also asked Novig and ProphetX to hold off on 'micro' sports contracts.Fri, 23 Oct 2026 15:00:00 GMTPrediction MarketsCFTCEvent contractsSwapsNovigProphetXSports contractshttps://themidpointnews.com/news/issuers-object-okx-ice-tokenised-stock-venue/https://themidpointnews.com/news/issuers-object-okx-ice-tokenised-stock-venue/Listed companies are pushing back against the planned venue for tokenised trading of their shares.Fri, 23 Oct 2026 12:00:00 GMTMarket StructureTokenisationOKXICEIssuershttps://themidpointnews.com/news/single-stock-perpetual-futures-early-november/https://themidpointnews.com/news/single-stock-perpetual-futures-early-november/Four CFTC-registered futures exchanges have filed rules to list perpetual futures on US stocks. None has yet been approved by the CFTC. The SEC's trading and markets director expects at least four exchanges to begin trading the products this quarter.Fri, 23 Oct 2026 09:00:00 GMTMarket StructurePerpetual futuresSecurity futuresKalshiCoinbaseBitnomialKrakenCrypto.comSECCFTChttps://themidpointnews.com/news/fca-rathi-mansion-house-market-integrity/https://themidpointnews.com/news/fca-rathi-mansion-house-market-integrity/At the City Dinner, the FCA chief executive said threats to market integrity are 'as serious as I have seen them'. He named 24/7 trading, parallel market structures and insider trading on offshore prediction markets.Thu, 22 Oct 2026 21:30:00 GMTRegulationFCANikhil Rathimarket integrityAIprediction marketsfinancial crimeperimeter24/7 tradinghttps://themidpointnews.com/news/esma-ptrr-draft-rts-clearing-exemption/https://themidpointnews.com/news/esma-ptrr-draft-rts-clearing-exemption/The draft technical standards cover compression, rebalancing and basis-risk optimisation. They require market-risk neutrality within tolerances set by providers and largely codify current practice.Tue, 20 Oct 2026 10:00:00 GMTRegulationESMAEMIR 3PTRRcompressionclearing obligationOTC derivativesRTSMiFIRhttps://themidpointnews.com/news/mfsa-circular-prediction-markets-event-contracts/https://themidpointnews.com/news/mfsa-circular-prediction-markets-event-contracts/An MFSA circular says some event contracts are financial instruments and some are not. Operators must assess each contract, and a single platform could fall under several regimes at once.Mon, 19 Oct 2026 12:00:00 GMTPrediction MarketsMFSAMaltaESMAevent contractsMiFID IIMiCAbinary optionsgamblinghttps://themidpointnews.com/news/ogcom-novig-sue-missouri-cease-and-desist/https://themidpointnews.com/news/ogcom-novig-sue-missouri-cease-and-desist/Two CFTC-registered exchanges have gone to federal court to stop Missouri's attorney general treating sports event contracts as unlicensed betting under the state's 2024 constitutional amendment.Fri, 16 Oct 2026 21:00:00 GMTPrediction MarketsMissouriOG.comNovigNorth American Derivatives Exchangesports event contractspre-emptionlitigationhttps://themidpointnews.com/news/ciro-bans-sports-entertainment-event-contracts/https://themidpointnews.com/news/ciro-bans-sports-entertainment-event-contracts/Updated terms and conditions bar sports and entertainment contracts outright. Dealers may not show, rank or put on watchlists contracts they cannot offer, and permitted contracts must use objective indicators.Fri, 16 Oct 2026 15:00:00 GMTPrediction MarketsCIROCSACanadaevent contractsprediction marketssports contractsinvestment dealershttps://themidpointnews.com/news/fca-revokes-libor-euribor-bans-court-of-appeal/https://themidpointnews.com/news/fca-revokes-libor-euribor-bans-court-of-appeal/Bans on Bermingham, Moryoussef, Mathew and Bittar are revoked and their Final Notices removed. The Court of Appeal had overturned the convictions of six benchmark defendants earlier in October.Fri, 16 Oct 2026 13:00:00 GMTRegulationFCASFOLIBOREURIBORCourt of Appealenforcementprohibition ordersbenchmarkshttps://themidpointnews.com/news/eu-t1-one-year-to-go-esma-csdr-guidelines/https://themidpointnews.com/news/eu-t1-one-year-to-go-esma-csdr-guidelines/Electronic, machine-readable allocations and confirmations become mandatory on 7 December. The coordination committee's minutes describe a slipped Swift release, uneven CSD readiness and testing organised locally.Fri, 16 Oct 2026 10:00:00 GMTRegulationESMAT+1CSDRsettlement disciplineallocationsconfirmationsT2SSwiftEU T+1 Industry Committeehttps://themidpointnews.com/news/hkex-t1-settlement-second-half-2028/https://themidpointnews.com/news/hkex-t1-settlement-second-half-2028/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.Fri, 16 Oct 2026 09:00:00 GMTMarket StructureHKEXT+1settlementHong KongStock Connectpost-tradeCCASSOrion Cash Platformhttps://themidpointnews.com/news/esma-transparency-manual-tick-size-otc-derivatives/https://themidpointnews.com/news/esma-transparency-manual-tick-size-otc-derivatives/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.Thu, 15 Oct 2026 10:00:00 GMTMarket StructureESMAtick sizeRTS 11MiFIRtransparencyOTC derivativesconsolidated tapeADNThttps://themidpointnews.com/news/cpmi-iosco-final-guidance-fmi-general-business-risk/https://themidpointnews.com/news/cpmi-iosco-final-guidance-fmi-general-business-risk/The final report on PFMI Principle 15 says infrastructures should hold the greater of six months' operating expenses or the full cost of recovery and wind-down. Both liquid assets and equity must meet that figure.Wed, 14 Oct 2026 10:00:00 GMTRegulationCPMIIOSCOBISPFMIFMICCPCSDgeneral business riskrecoverywind-downhttps://themidpointnews.com/news/sec-approves-cboe-binary-kpi-options/https://themidpointnews.com/news/sec-approves-cboe-binary-kpi-options/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.Tue, 13 Oct 2026 18:00:00 GMTMarket StructureSECCboebinary optionsKPIearningsoptions market structureevent contractshttps://themidpointnews.com/news/kalshi-en-banc-petition-supreme-court-amici/https://themidpointnews.com/news/kalshi-en-banc-petition-supreme-court-amici/Kalshi's en banc petition relies on the CFTC's 9 October rulemakings. Meanwhile, more than a dozen amicus briefs have been filed in New Jersey's certiorari bid.Fri, 09 Oct 2026 20:00:00 GMTPrediction MarketsKalshiSixth CircuitSupreme CourtNew Jerseypre-emptionCEAamicushttps://themidpointnews.com/news/council-agrees-misp-esma-third-country-csd-relief/https://themidpointnews.com/news/council-agrees-misp-esma-third-country-csd-relief/The Council deal on the Market Integration and Supervision Package came two days after ESMA told national supervisors to hold off on enforcement against unrecognised third-country CSDs after 17 January.Fri, 09 Oct 2026 17:00:00 GMTRegulationMISPSIUCouncil of the EUESMACSDRthird-country CSDspost-tradeIrish Presidencyhttps://themidpointnews.com/news/cftc-interim-rule-casino-gambling-not-swaps/https://themidpointnews.com/news/cftc-interim-rule-casino-gambling-not-swaps/An interim final rule that took immediate effect adds a 'product test': licensed, bilateral wagers are gambling, and multilateral, tradable contracts are swaps.Fri, 09 Oct 2026 16:00:00 GMTRegulationCFTCswap definitionsports bettingevent contractsinterim final rulestateshttps://themidpointnews.com/news/texas-listings-txse-shared-listings-nasdaq-texas/https://themidpointnews.com/news/texas-listings-txse-shared-listings-nasdaq-texas/Schwab dual-lists, energy and banking names are set to transfer, and TXSE files a revenue-sharing model aimed at the NYSE–Nasdaq 'duopoly'.Thu, 08 Oct 2026 14:00:00 GMTMarket StructureTXSENasdaq Texaslistingsauctionsmarket dataexchange competitionhttps://themidpointnews.com/news/asx-chess-replacement-drop-3-technical-committee/https://themidpointnews.com/news/asx-chess-replacement-drop-3-technical-committee/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.Thu, 08 Oct 2026 06:00:00 GMTMarket StructureASXCHESSclearingsettlementAustraliapost-tradeISO 20022software providershttps://themidpointnews.com/news/overnight-trading-nasdaq-clearing-pearl-luld-29/https://themidpointnews.com/news/overnight-trading-nasdaq-clearing-pearl-luld-29/Three filings published between 30 September and 7 October sort out the details behind 23x5 trading for clearing firms, risk controls and ATSs.Wed, 07 Oct 2026 15:00:00 GMTMarket Structureovernight trading23x5NasdaqMIAX PearlLULDclearingrisk controlshttps://themidpointnews.com/news/cboe-clear-europe-sft-clearing-us-equities/https://themidpointnews.com/news/cboe-clear-europe-sft-clearing-us-equities/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.Wed, 07 Oct 2026 08:00:00 GMTMarket StructureCboe Clear Europesecurities lendingSFTCCPclearingDTCBNYagent lendershttps://themidpointnews.com/news/uk-digit-digital-gilt-joint-lead-managers/https://themidpointnews.com/news/uk-digit-digital-gilt-joint-lead-managers/Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets will underwrite and distribute the DIGIT pilot, which is expected by Q1 2027.Tue, 06 Oct 2026 12:00:00 GMTMarket StructureHM TreasuryDIGITdigital giltDLTDigital Securities SandboxHSBC OrionLSEGtokenisationhttps://themidpointnews.com/news/eurex-japanese-single-stock-futures-dividend-futures/https://themidpointnews.com/news/eurex-japanese-single-stock-futures-dividend-futures/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.Tue, 06 Oct 2026 09:00:00 GMTMarket StructureEurexDeutsche BörseJapansingle-stock futuresdividend futuresequity financingNikkei 225clearinghttps://themidpointnews.com/news/cftc-no-action-perpetual-style-index-futures/https://themidpointnews.com/news/cftc-no-action-perpetual-style-index-futures/Letter 26-29, issued at Coinbase Derivatives' request, waives the 10-day self-certification wait if venues protect holders of open positions.Mon, 05 Oct 2026 15:00:00 GMTRegulationCFTCperpetual futuresno-actionCoinbase DerivativesKalshiindex futuresPart 40https://themidpointnews.com/news/sgx-board-lot-reduction-11-stocks/https://themidpointnews.com/news/sgx-board-lot-reduction-11-stocks/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.Mon, 05 Oct 2026 04:00:00 GMTMarket StructureSGXSGX RegCoSingaporeboard lotsretailmarket microstructureodd lotscustodyhttps://themidpointnews.com/news/illinois-court-cea-likely-preempts-sports-contracts/https://themidpointnews.com/news/illinois-court-cea-likely-preempts-sports-contracts/Judge Pacold calls the contracts swaps that 'people find entertaining and fun', in a ruling that cuts against the Sixth Circuit a week earlier.Fri, 02 Oct 2026 20:00:00 GMTPrediction MarketsKalshiCoinbaseCFTCIllinoispre-emptionswapssports event contractshttps://themidpointnews.com/news/fca-cp26-34-transaction-reporting-guidance/https://themidpointnews.com/news/fca-cp26-34-transaction-reporting-guidance/CP26/34 covers the new client-indicator fields, conditional single-sided reporting and a weekend cutover window. It also asks whether EU-only instruments should be removed from FCA FIRDS early.Fri, 02 Oct 2026 09:00:00 GMTRegulationFCAtransaction reportingUK MiFIRMAR 14CSSRFIRDSARMsPS26/15https://themidpointnews.com/news/sec-staff-exchange-broker-affiliations-form-1n/https://themidpointnews.com/news/sec-staff-exchange-broker-affiliations-form-1n/The Trading and Markets statement revisits long-standing conflict concerns as vertically integrated, retail-facing futures models approach the SEC.Wed, 30 Sep 2026 16:00:00 GMTRegulationSECForm 1-Nsecurity futuresexchange affiliationsconflicts of interestCFTChttps://themidpointnews.com/news/esma-2027-work-programme-derivatives-ctp-t1/https://themidpointnews.com/news/esma-2027-work-programme-derivatives-ctp-t1/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.Mon, 28 Sep 2026 11:00:00 GMTMarket StructureESMAconsolidated tapeCTPT+1MiFIREMIR 3transaction reportingSIUMISPhttps://themidpointnews.com/news/sixth-circuit-rules-against-kalshi-ohio-tennessee/https://themidpointnews.com/news/sixth-circuit-rules-against-kalshi-ohio-tennessee/The panel says Kalshi has not shown its sports contracts are swaps, and says the CEA would not pre-empt state gambling law even if they were.Fri, 25 Sep 2026 17:00:00 GMTPrediction MarketsKalshiSixth Circuitpre-emptionCEAsports event contractsswapshttps://themidpointnews.com/news/new-york-sues-polymarket-us/https://themidpointnews.com/news/new-york-sues-polymarket-us/The attorney general wants forfeiture, restitution and fines of three times the gains. Polymarket responded the same day with its own federal pre-emption suit.Thu, 24 Sep 2026 16:00:00 GMTPrediction MarketsPolymarketNew Yorkprediction marketspre-emptionCEAstate enforcementhttps://themidpointnews.com/news/sebi-board-settlement-regulations-fpi-commodity-derivatives/https://themidpointnews.com/news/sebi-board-settlement-regulations-fpi-commodity-derivatives/The 215th board meeting approved a formula-based settlement framework with Wells-style pre-notices, broader FPI access to non-agricultural commodity contracts, and deemed accredited-investor status for non-residents.Thu, 24 Sep 2026 14:00:00 GMTRegulationSEBIIndiaenforcementsettlement proceedingsFPIcommodity derivativesaccredited investorsportfolio managershttps://themidpointnews.com/news/euronext-securities-european-csd-offering-live/https://themidpointnews.com/news/euronext-securities-european-csd-offering-live/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.Thu, 24 Sep 2026 09:30:00 GMTMarket StructureEuronextEuronext SecuritiesCSDpost-tradesettlementT2SSIUCSDRhttps://themidpointnews.com/news/tsv-llc-first-innovation-exemption-notice/https://themidpointnews.com/news/tsv-llc-first-innovation-exemption-notice/TSV LLC plans permissioned AMM pools on Canton, but has to clear the order's public-ledger condition before it can trade.Wed, 23 Sep 2026 12:00:00 GMTMarket StructureSECInnovation ExemptiontokenisationTSVAMMCantonhttps://themidpointnews.com/news/fca-rathi-tokenisation-parallel-market-structures/https://themidpointnews.com/news/fca-rathi-tokenisation-parallel-market-structures/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.Tue, 22 Sep 2026 21:00:00 GMTMarket StructureFCANikhil RathitokenisationDSD24/7 tradingmarket abuseBank of Englandhttps://themidpointnews.com/news/cftc-staff-mention-markets-advisory/https://themidpointnews.com/news/cftc-staff-mention-markets-advisory/Advisory 26-27 tells DCMs that contracts on what someone says or attends need a much stronger Core Principle 3 case.Tue, 22 Sep 2026 18:00:00 GMTRegulationCFTCevent contractsmention marketsCore Principle 3DCMsurveillancehttps://themidpointnews.com/news/sec-censures-otc-link-reg-sci/https://themidpointnews.com/news/sec-censures-otc-link-reg-sci/Exam staff found missing security and access-control procedures again and again over almost nine years before enforcement stepped in.Tue, 22 Sep 2026 15:00:00 GMTRegulationSECRegulation SCIenforcementATSOTC Linkhttps://themidpointnews.com/news/ecb-launches-pontes-tokenised-settlement/https://themidpointnews.com/news/ecb-launches-pontes-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.Mon, 21 Sep 2026 10:00:00 GMTMarket StructureECBEurosystemPontestokenisationDLTcentral bank moneysettlementAppia