Regulus — The global regulatory broadcast network

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 16 claims 26 Oct 2026

MIAX files minor cross-reference fix to CAT reporting rule

MIAX has filed a proposed rule change with the SEC to clean up drafting errors in Exchange Rule 1703, its Consolidated Audit Trail Compliance Rule for Industry Member Data Reporting. The filing is effective immediately under the SEC's expedited process. This brief covers what changed, why the Exchange says it is non-substantive, and the comment deadline.

MIAX filed SR-MIAX-2026-42 with the SEC on October 9, 2026 to amend Exchange Rule 1703.
The filing corrects references in Rules 1703(a)(1) and 1703(a)(2) from 'paragraph (3)' to 'paragraph (a)(3)'.
A closing parenthesis is added after 'Industry Member Data' in Rule 1703(a)(2) for grammatical accuracy.
The rule change became effective under Section 19(b)(3)(A) and Rule 19b-4(f)(6), with the SEC able to suspend it within 60 days.
Public comments on file number SR-MIAX-2026-42 are due on or before November 12, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 20 claims 26 Oct 2026

MIAX Pearl files to fix typo in minor rule violation fine table

MIAX Pearl has filed an immediately effective rule change with the SEC to fix a typographical error in its minor rule violation fine schedule. The correction touches one cell in the sanctions table for violations of Rule 520(b). It changes nothing operationally, but it is on the public comment docket until November 12, 2026, and is the kind of filing compliance teams tracking the exchange's rulebook should log.

MIAX Pearl is correcting the fourth row of Rule 1014(d)(5) to read '16 to 20' instead of the current '16 or 20'.
The table sets sanctions for violations of Rule 520(b), ranging from a Letter of Caution for 1 to 5 violations to a $500 fine for 6 to 10 violations within one calendar year.
The filing, SR-PEARL-2026-42, became effective on filing under Section 19(b)(3)(A) and Rule 19b-4(f)(6), with no comments solicited or received.
The SEC may summarily suspend the change within 60 days of the October 9, 2026 filing, and comments are open until November 12, 2026.

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CFTC — Commodity Futures Trading Commission Source document ↗

United States CFTC — Commodity Futures Trading Commission Markets & Infrastructure ✓ 15 claims 26 Oct 2026

CFTC signs integrity MOU with NBA on prediction markets

The CFTC has formalised an information-sharing arrangement with the NBA aimed at policing prediction markets tied to professional basketball. The announcement is brief but signals where the regulator is focusing attention as sports-linked prediction markets grow, and compliance teams at designated contract markets should note the pattern forming across leagues.

The CFTC and the NBA signed a Memorandum of Understanding announced on October 26, 2026.
The MOU covers regular communication and information sharing on integrity matters and on maintaining fair and transparent prediction markets.
The NBA is the third professional sports league to sign such an MOU with the CFTC, following the MLB and NHL.
CFTC Chairman Michael S. Selig cited insider trading and fraud as abuses the arrangement is meant to guard against.
The release does not disclose specific data-sharing protocols, timelines, or enforcement powers under the MOU.

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ISDA Source document ↗

Global ISDA Markets & Infrastructure ✓ 15 claims 26 Oct 2026

ISDA publishes case study on taking the Common Domain Model into production

ISDA has released a short practitioner paper tracing one firm's path from concept to production with the Common Domain Model. It is aimed at compliance, operations and technology leads weighing CDM adoption, setting out that integration is achievable while being candid that work and hurdles remain. The value is in the worked example rather than any new standard or obligation.

ISDA published a paper describing how Ark 51 took the CDM into production for a legal agreement use case.
The CDM is a standardized, machine-readable and executable model for financial products, lifecycle events and contractual information, hosted and governed by the Fintech Open Source Foundation.
ISDA acknowledges that, despite growing adoption, there are hurdles to overcome and work involved to integrate the CDM into a system.
The document is tagged with Common Domain Model, Credit Support Annex, Digitization and Margin, and the full detail is in an attached PDF.
ISDA notes each use case will have several approaches to adoption.

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FINRA Source document ↗

United States FINRA Markets & Infrastructure ✓ 15 claims 26 Oct 2026

FINRA extends options rulebook to binary options and non-OCC clearing

FINRA has pulled binary options, including the new 'binary metric options' tied to an issuer's reported financials and those cleared outside OCC, squarely inside its existing listed options rules. The changes touch options communications, trading, suitability, supervision and margin, and took effect immediately. This segment covers what the amendments define, which rules they reach and what members must now apply.

Amendments to Rules 2220, 2360 and 4210 apply FINRA's listed options framework to binary options, metric options and options cleared outside OCC, effective October 22, 2026.
Rule 2360 adds definitions of 'binary option' (Rule 2360(a)(2)) and 'underlying metric' (Rule 2360(a)(38)) and revises existing definitions to cover options overlying a metric.
Four updated Rule 4210 interpretations address binary option requirements, spreads, straddles or similar combinations, and margin under 4210(f)(2)(N)(ii).
The changes respond to exchange proposals filed with the SEC to list 'binary metric options' whose settlement amount is fixed at creation and payout depends on an issuer's reported metrics.
Conforming updates were also made to Rules 2351 and 2357 covering index warrants, currency index warrants and currency warrants.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 19 claims 26 Oct 2026

Cboe BZX scraps $4,000 legacy fee for pre-2019 ETP listings from 2027

Cboe BZX has filed an immediately effective rule change removing the discounted annual listing fee it has preserved since 2019 for older exchange-traded products. The change reprices a cohort of legacy ETP issuers onto the exchange's standard fee grid from calendar year 2027, and the SEC is taking comment until mid-November while the rule is already in force.

BZX will delete the Legacy Listing category from Rule 14.13(b)(2)(E), ending the $4,000 annual fee for ETPs listed before January 1, 2019.
Former legacy products will be charged the lowest applicable fee they otherwise qualify for, including CADV-based fees of $5,000 to $7,000.
The $4,000 fee survives for Transfer Listings, which BZX frames as an incentive to attract listings from rival exchanges.
The change applies from annual listing fees assessed for calendar year 2027 and does not affect any 2026 assessment.
The rule is immediately effective, but comments on file number SR-CboeBZX-2026-085 are due by November 16, 2026.

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CSSF Luxembourg Source document ↗

CSSF Luxembourg Markets & Infrastructure ✓ 13 claims 26 Oct 2026

CSSF tells Luxembourg firms to begin T+1 testing with first deadline on 7 December 2026

The CSSF says the regulatory framework for the EU's move to T+1 settlement is now complete and is pressing market participants to start testing across the settlement chain. The communiqué sets out a phased compliance timetable that begins well before the 2027 switch, with the first binding obligations on allocations and confirmations landing in December 2026.

The EU switches to T+1 settlement on 11 October 2027, with compliance phased ahead of that date.
Investment firms and their clients must comply with new allocation and confirmation requirements from 7 December 2026, with further deadlines on 1 July 2027 and 11 October 2027.
From 7 December 2026 the revised ESMA guidelines require mandatory use of electronic, standardised communication channels, international messaging standards and machine-readable methods, except during temporary technical disruptions.
The framework is built on the amended RTS on settlement discipline and revised ESMA Guidelines, drawing on recommendations from the 2025 EU T+1 Industry Committee.
ESMA and national competent authorities will now move from rule-making to monitoring compliance with the new obligations.

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CFTC — Commodity Futures Trading Commission Source document ↗

United States CFTC — Commodity Futures Trading Commission Markets & Infrastructure ✓ 10 claims 26 Oct 2026

CFTC lets DCMs convert perpetual-style index futures into true perpetuals

The CFTC's Division of Market Oversight has issued no-action relief allowing designated contract markets to convert perpetual-style broad-based security index futures into true perpetual contracts. The letter sets out customer protection and procedural conditions exchanges must meet, and carries a short expiry date that market infrastructure teams should note.

The CFTC's Division of Market Oversight issued no-action relief for DCMs converting perpetual-style broad-based security index futures into true perpetual futures.
Conditions include soliciting feedback from market participants with open positions and providing advance notice with an opportunity to exit positions.
DCMs must offer appropriate risk disclosures and ensure no other material contract terms are modified.
DCMs must file the amendments under CFTC Regulations 40.5 or 40.6 and certify compliance with all conditions in the letter.
The no-action positions expire on October 20, 2026.

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BIS Press Releases Source document ↗

Global BIS Press Releases Markets & Infrastructure ✓ 20 claims 26 Oct 2026

BIS research finds loose financial conditions amplify gold's safe-haven rally

This BIS working paper examines why gold has rallied even as the usual link between geopolitical risk and tighter financial conditions has weakened since 2024. For compliance and treasury functions tracking safe-haven flows, the paper offers a data-driven explanation rooted in investors' capacity to rebalance rather than simple risk aversion.

BIS Working Paper 1380, authored by Rafael Guerra and Gabriel Zelpo, was published 6 October 2026.
The study uses monthly data spanning 1990 to 2026 to measure gold's response to geopolitical shocks under varying financial conditions.
Geopolitical risk historically correlates with tighter financial conditions, but the paper finds this relationship weakened between 2024 and 2026.
The research finds stronger support for a credit and liquidity risk channel than for an opportunity cost channel in explaining gold's safe-haven response.
The largest impact on gold returns occurs when loose financial conditions coincide with geopolitical escalation, as observed during 2024-26.

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Federal Register — CFTC Source document ↗

United States Federal Register — CFTC Markets & Infrastructure ✓ 20 claims 26 Oct 2026

CFTC keeps swap data reporting burden estimate despite data accuracy challenge

A routine Paperwork Reduction Act notice turns substantive: two commenters challenged whether swap data reported under CFTC part 45 is even truthful, and whether the Commission's burden estimates hold up. The CFTC rejected both without changing its numbers. This is a quick read for anyone whose firm reports under 3038-0096.

Comments on the renewed collection must be submitted to OIRA by November 5, 2026.
The Commission estimates 1,732 respondents with an average of 839 burden hours each, totalling 1,452,730 annual burden hours as stated in the notice.
Two commenters during the prior 60-day review period challenged the accuracy of reported swap data and the Commission's cost estimates, but the CFTC found neither provided supporting evidence.
The collection applies to swap dealers, major swap participants, SEFs, DCMs, DCOs and non-SD/MSP/DCO counterparties under part 45, adopted in 2012 and amended by final rule in 2020.
The Commission states there are no capital costs or operating and maintenance costs associated with this collection.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 17 claims 26 Oct 2026

SEC opens disapproval review of NYSE American FLEX equity option plan

NYSE American filed to extend cash settlement, currently available for ETF FLEX equity options, to as many as 50 non-ETF FLEX equity options, and to change how qualifying securities are selected. The SEC has instituted proceedings under Section 19(b)(2)(B) to decide whether to approve or disapprove the change, and is asking for further comment before acting.

NYSE American filed the proposal on June 29, 2026, and it was published for comment on July 7, 2026.
The change would permit cash settlement for up to 50 non-ETF FLEX Equity Options under Rule 903G.
Selection of qualifying securities would shift to highest average daily notional value instead of highest average daily share volume.
The SEC must decide whether the proposal is consistent with Section 6(b)(5) of the Exchange Act.
Written comments are due by October 27, 2026, and rebuttal comments by November 10, 2026.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Markets & Infrastructure ✓ 13 claims 26 Oct 2026

ABA DataBank reports home purchase cancellations near record highs

The ABA's DataBank item records that home purchase cancellations are running near record highs. The note appears on the ABA Banking Journal newsroom alongside a cluster of federal housing actions and rate data, giving mortgage lenders and economists a snapshot of deteriorating conditions in the single-family purchase market.

The ABA DataBank note, dated October 23, 2026, reports that home purchase cancellations are near record highs.
The item is tagged to affordable housing and carries no cancellation figures in its published text.
Separately on the same newsroom, the 15-year fixed-rate mortgage declined to 6.68% from 6.71% the prior week, after seven weeks of gains.
A Treasury proposed rule would bar investors controlling at least 350 homes from single-family housing, with penalties from $1 million to three times the purchase price.

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European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 20 claims 26 Oct 2026

Euro area firms report wider bank loan financing gap in Q3 2026 SAFE

The ECB's quarterly SAFE survey tracks how euro area firms, mostly SMEs, experience bank lending conditions. This round shows rates and collateral terms tightening further while loan availability fell faster than financing needs. A large sample composition change means the usual price and inflation expectation readings need caution this quarter.

A net 46% of firms reported higher bank loan interest rates in Q3 2026, up from 42% in Q2, with large firms reporting increases more often (net 55%) than SMEs (net 38%).
Bank loan availability declined by a net 5% in Q3 2026, compared with a net 1% decline in Q2, while financing needs fell by only a net 2%.
The resulting bank loan financing gap indicator stood at a net 2%, versus a net 3% in the previous quarter, meaning availability contracted faster than demand.
Collateral requirements tightened to a net 14%, up from 10% in the prior round, even as other financing cost increases (fees, charges, commissions) eased to a net 27% from 31%.
The survey sample changed substantially this round, with first-time respondents forming the majority of 12,822 enterprises surveyed, complicating interpretation of selling price and inflation expectation data.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 25 claims 26 Oct 2026

IEX tightens options risk control settings before Oct 2 launch of IEX Options

Days before IEX begins trading options, the exchange filed changes to three calibration variables in the risk control that lets market makers cancel or reprice quotes ahead of adverse moves in the underlying. The filing took effect immediately. We cover what moved, why IEX says the settings are more conservative, and the narrow window the SEC has to intervene.

The Delta Bound Band changes from an initial value of 0-1 to a proposed 0.30-1.00, the Quote Instability Threshold from 0.1% to 0.5%, and implied volatility calculation frequency from each half hour to each one minute.
The changes amend Supplementary Materials .04 and .05 to IEX Rule 23.150(h) and sit within ranges the Commission previously approved.
The filing became effective immediately under Rule 19b-4(f)(1) as an interpretation of an existing rule, requiring no prior SEC approval.
IEX Options is scheduled to begin trading on October 2, 2026, and IEX will issue a Trading Alert on effectiveness.
Written comments were neither solicited nor received; the SEC may summarily suspend the change within 60 days of filing, and comments are due by October 27, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 17 claims 26 Oct 2026

SEC overrules own staff, approves OCC clearing fund shift Fidelity opposed

The SEC has issued a de novo order on OCC's proposal to reweight how Clearing Members fund the mutualized Clearing Fund, shifting the formula toward stress-loss shortfall rather than open interest. Fidelity petitioned against the staff-level approval, arguing it disadvantages agency brokers. This covers the Commission's reasoning for overriding that objection and approving the change.

OCC filed the proposed rule change SR-OCC-2025-018 with the SEC on September 26, 2025.
The new weighting scheme is 70% shortfall, 15% margin and 15% volume, replacing 70% total risk, 15% open interest and 15% volume.
OCC's lookback period for allocation-related measures moves from one month to three months of data.
New Rule 1003(c) gives OCC sole discretion to hold Clearing Fund allocation weights constant month-over-month during volatile conditions.
For the top 15 Clearing Fund allocations in June 2026, nine members would have seen increases of +8.69% to +104.78% and six would have seen decreases of -4.79% to -39.97% under the proposal.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 12 claims 26 Oct 2026

SEC acknowledges ICE Futures U.S. notice of national exchange registration

A short Federal Register notice confirms the SEC's receipt of a Form 1-N from ICE Futures U.S., the mechanism by which a CFTC-designated contract market registers as a national securities exchange solely for security futures trading. It matters chiefly as a procedural marker for firms tracking venue status and registration effective dates under Exchange Act Section 6(g).

ICE Futures U.S., Inc. filed a Form 1-N with the SEC on September 30, 2026.
The Commission acknowledged receipt of the Form 1-N under Exchange Act Section 6(g)(3) in Release No. 34-106567, File No. 10-256, dated October 1, 2026.
Under Section 6(g)(2)(B) of the Exchange Act, registration as a national securities exchange becomes effective contemporaneously with the written notice's submission.
The Division of Trading and Markets examines the Form 1-N under Rule 202.3(b)(3) to determine whether all necessary information and required documents have been properly furnished.
Copies of the Form 1-N and all exhibits are available on the SEC's website.

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Bank of England Source document ↗

United Kingdom Bank of England Markets & Infrastructure ✓ 14 claims 26 Oct 2026

BoE money markets committee launches 2027 review of UK code

Minutes from the Bank of England's Money Markets Code Sub-Committee cover attestation numbers, governance housekeeping and the timetable for the next review of the UK Money Market Code. Relevant for firms active in unsecured deposits, funding, securities lending and repo markets that track voluntary code adherence and settlement infrastructure developments.

Nine firms attested to the UK Money Market Code in 2026, including two banks since the June 2026 meeting.
234 firms have signed the Statement of Commitment since the Code launched in April 2017, with no withdrawals to date.
The Committee asked the secretariat to analyse the potential population of in-scope firms to improve targeted promotion of the Code.
A full Code review will begin in October 2026, with an updated version due for publication in 2027, following the last update in June 2024.
The Committee is monitoring Euroclear UK & Ireland's contingency arrangements for a CREST outage, known as 'mini-CREST', and its implications for gilt and repo settlement.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 21 claims 25 Oct 2026

SEC opens comment on CMESC default management rule change

The SEC has published for comment a proposed rule change from CME Securities Clearing that rewrites how the clearing agency documents the handling of a Participant default. The amendments add detail on using a third-party liquidation agent and execution brokers, clarify the Risk Management Committee's role, and make administrative fixes. CMESC has no Members or Users yet, so this is framework in advance of operations.

CMESC would amend Section 14.1.1 of its Risk Management Framework to specify that the close-out of a defaulted Participant's portfolio may use a liquidation agent and one or more execution brokers.
The amended framework provides that CMESC may hold an account with an execution broker as principal, receiving back-to-back trades that mirror the liquidation agent's close-out trades to keep a net flat position.
Section 14 would clarify that the Risk Management Committee (CSRMC) provides guidance on the design of default procedures, changing its role from discretionary and advisory.
CMESC states it currently has no Members or Users and has neither received nor solicited written comments on the proposal.
Comments are due by November 12, 2026, and the Commission must approve, disapprove or institute proceedings within 45 days of publication, extendable up to 90.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 13 claims 23 Oct 2026

SEC extends review of NYSE Texas plan to give issuers complimentary products

The SEC has given itself more time to rule on a NYSE Texas proposal to offer certain listed issuers complimentary products and services under a new exchange rule. This is a procedural extension under the Exchange Act, but it signals the Commission wants longer to weigh a filing that was substantially rewritten before the comment window closed. The item matters to anyone tracking exchange listing incentives.

NYSE Texas filed the proposed rule change on 13 August 2026 and Amendment No. 1 on 5 October 2026, which superseded the original filing in its entirety.
The proposal would adopt new Rule 24 under Article 22 of the NYSE Texas Rule Book to offer certain issuers complimentary products and services.
The SEC designated 30 November 2026 as the date by which it will approve, disapprove, or institute proceedings on the filing (File No. SR-NYSETEX-2026-30).
The Commission has received no comments on the proposed rule change.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 18 claims 23 Oct 2026

OCC proposes two-hour cyber incident reporting deadline for clearing members

The SEC has opened a comment period on OCC's proposed overhaul of Rule 213, its cybersecurity obligations rule for clearing members. The filing replaces the existing 'Security Incident' standard with a new reporting regime carrying a fixed two-hour notification clock and a tiered 'Major' event category triggering OCC's disconnection authority.

Clearing Members must notify OCC in writing no later than two hours after becoming aware of a Clearing Member System Event.
OCC may disconnect a Clearing Member or its Third-Party Service Provider upon declaring a 'Major Clearing Member System Event,' which requires approval from two or more Designated Officers and notification to the Chairman of the Board.
The Cybersecurity Confirmation attestation, required at least every two years and within 180 calendar days of OCC's notice, may now be signed by any authorized senior executive rather than a specifically designated one.
OCC's definition of 'OCC's Systems' is expanded to include established communication channels such as File Transfer Protocols, not only direct connections.
Late notification beyond the two-hour window will be evaluated under OCC's disciplinary process set out in Chapter XII of its Rules.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 19 claims 23 Oct 2026

SEC approves FINRA exemption letting collective trust funds buy IPO shares

The SEC has approved a FINRA rule change exempting certain collective trust funds from restrictions that otherwise bar related persons from buying initial public offering shares. The order explains why FINRA dropped a numeric participant threshold it had originally proposed, and what safeguards remain in its place.

The SEC approved SR-FINRA-2026-007 on October 2, 2026, exempting specified collective trust funds from FINRA Rule 5130 and from the spinning provision in Rule 5131(b).
The exemption applies only if the CTF was not formed or maintained for the specific purpose of permitting restricted persons to invest in new issues.
FINRA removed an originally proposed condition requiring 1,000 or more plan participants and beneficiaries after two commenters said the condition was difficult to administer.
The Commission received two comment letters, from the Coalition of Collective Investment Trusts and the Investment Company Institute, both filed May 1, 2026.
FINRA filed Partial Amendment No. 1 on July 8, 2026, and the Commission instituted proceedings on July 9, 2026 before ultimately approving the filing as amended.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 19 claims 23 Oct 2026

BZX adds IEX to options routing fee code at $0.25 per contract

Cboe BZX has amended its options Fees Schedule to add IEX Exchange to fee code RP, the sub-category covering Customer orders routed away to other venues. The charge is unchanged at $0.25 per contract. The filing took immediate effect under Section 19(b)(3)(A), and the SEC is taking comment through 3 November 2026.

Fee code RP is extended to cover Customer orders routed to IEX, which BZX describes as a national securities exchange.
The per-contract charge under fee code RP remains $0.25; the addition does not change it.
The change took immediate effect on 1 October 2026 under Section 19(b)(3)(A) of the Act and Rule 19b-4(f).
Comments on File No. SR-CboeBZX-2026-083 are due on or before 3 November 2026, and the SEC may suspend the change within 60 days of filing.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 18 claims 23 Oct 2026

Nasdaq Texas extends clearly erroneous trade rules to overnight sessions

Nasdaq Texas filed a rule change with the SEC amending its Clearly Erroneous Transactions rule to cover the new Overnight Price Bands approved for round-the-clock equity trading. Compliance and trading operations staff at broker-dealers should understand how trade-busting eligibility shifts once overnight trading begins.

Nasdaq Texas filed proposed rule change SR-NasdaqTX-2026-047 with the SEC on September 25, 2026.
The amendment extends Rule 11890's bar on clearly erroneous review during Market Hours to the new Overnight Protected Hours, defined as 9:00 p.m. to 4:00 a.m. ET.
The Commission approved Overnight Price Bands under the LULD Plan on August 5, 2026 via the 27th Amendment to that plan.
Transactions in NMS stocks not subject to the LULD Plan, such as rights and warrants, executed overnight would be reviewed using the Numerical Guidelines that currently apply to Pre-Market and Post-Market Hours.
The rule change is scheduled to become operative December 6, 2026, when industry-wide 23/5 trading commences, and public comments are due by November 3, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 16 claims 23 Oct 2026

Nasdaq Texas drops duplicate circular rule for UTP derivative securities

Nasdaq Texas has filed a rule change, effective on filing, removing its own requirement to distribute an information circular before UTP derivative securities begin trading on the exchange. The filing also updates cross-references and renumbers rule provisions. Compliance teams at member firms should check how this affects their internal disclosure and suitability workflows for these products.

Nasdaq Texas deleted Rule 5740(a)(1), ending its requirement to distribute its own information circular before UTP Derivative Security trading begins.
Rule 5740(a)(2) now requires the written description to be provided in a form approved by the listing exchange or prepared by the issuing open-ended management company, no later than delivery of the first transaction confirmation.
The exchange added express cross-references to General 9, Section 10 (suitability) and Equity 2, Section 20 (customer disclosures) in the introductory paragraph of Rule 5740.
The SEC waived the usual 30-day operative delay under Rule 19b-4(f)(6)(iii), making the change effective upon filing on September 28, 2026.
Comments on file number SR-NasdaqTX-2026-049 are due on or before November 3, 2026.

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Bank of England Publications Source document ↗

United Kingdom Bank of England Publications Markets & Infrastructure ✓ 12 claims 23 Oct 2026

BoE study finds QE effectiveness hinges on why non-banks are growing

This Bank of England staff working paper models how monetary policy transmits through an economy as non-bank financial institutions (NBFIs) grow. For compliance and policy teams at banks and asset managers, it offers a research-based signal on how regulators may think about the diverging roles of banks and shadow credit providers in future stimulus design.

The paper is Bank of England Staff Working Paper No. 1,212, published 23 October 2026 and authored by Nicolò Bandera, Kristina Bluwstein, Michael Kumhof, Mauricio Salgado-Moreno and Jacob Stevens.
The authors build a DSGE model incorporating banks, NBFIs and a central bank interacting via wholesale deposits, bonds and reserve markets, estimated on UK data.
Conventional interest rate policy transmission to output and inflation is found to be essentially unaffected by the size of the NBFI sector.
Quantitative easing transmission is found to be strongly altered by NBFI sector size and by the source of its expansion, with amplification occurring when NBFI growth stems from firm funding preferences but not when it stems from higher bank finance costs.
The paper states that monetary policymakers retain rate control regardless of financial structure, but that balance sheet policy effectiveness depends on the composition and behaviour of the non-bank sector.

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Deutsche Bundesbank — speeches Source document ↗

Germany Deutsche Bundesbank — speeches Markets & Infrastructure ✓ 22 claims 23 Oct 2026

Germany's current account surplus falls to €10.3bn in August, down €11.5bn

The Bundesbank's monthly balance of payments release shows a sharp narrowing of Germany's current account surplus in August 2026, alongside a swing to net capital exports. The figures matter for anyone tracking German external demand, trade flows and cross-border capital movements, including portfolio reallocation and Bundesbank TARGET balances.

Germany's current account surplus fell to €10.3 billion in August 2026, a decline of €11.5 billion on July.
The goods account surplus dropped by €7.5 billion to €13.1 billion as receipts fell more sharply than expenditure.
The services deficit widened by €3.1 billion to €11.5 billion, with declines in other business services and intellectual property charges a significant factor.
Net capital exports totalled €16.1 billion in August, reversing net capital imports of €6.4 billion recorded in July.
Cross-border portfolio investment shifted to net capital exports of €19.0 billion from net capital imports of €34.4 billion the previous month.

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CSSF / Banque centrale du Luxembourg Source document ↗

CSSF / Banque centrale du Luxembourg Markets & Infrastructure ✓ 13 claims 23 Oct 2026

Luxembourg external assets rose 614 billion euros in second quarter of 2026

The Banque centrale du Luxembourg has published its quarterly international investment position statistics, tracking the stock of external financial assets and liabilities held by the jurisdiction's residents. This release gives compliance and treasury teams a reference point on the scale and composition of Luxembourg's cross-border financial exposures as of end-June 2026.

Luxembourg's external financial assets increased by 614 billion euros quarter-on-quarter to reach 14,350 billion euros at end-June 2026.
External financial liabilities increased to 14,329 billion euros over the same period, leaving a net international investment position of 21 billion euros.
Direct investment assets rose slightly to 5,218 billion euros, mainly owing to investment funds, while direct investment liabilities fell to 3,683 billion euros, driven by captive financial institutions.
Portfolio investment assets increased by 542 billion euros to 6,991 billion euros, and portfolio investment liabilities increased by 523 billion euros to 8,768 billion euros, the latter comprising 101 billion euros of transactions and 423 billion euros of price and exchange effects.
Other investment liabilities rose by 70 billion euros to reach 1,539 billion euros at end-June 2026, while other investment assets reached 1,766 billion euros.

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SEC Speeches and Statements Source document ↗

United States SEC Speeches and Statements Markets & Infrastructure ✓ 11 claims 23 Oct 2026

SEC chairman backs approval of binary options tied to company KPIs

Chairman Paul Atkins issued a statement explaining the Commission's approval of a securities exchange rule change permitting binary options tied to specified key performance indicators reported by certain issuers. The statement sets out how these products will be regulated and flags what the order deliberately leaves unaddressed, including CFTC jurisdiction over comparably structured KPI contracts.

The SEC approved a proposed rule change permitting a securities exchange to list binary options overlying specified KPIs reported by certain issuers.
The approved binary KPI options will be cash-settled, European-style, standardized options classified as NMS securities.
These options will be subject to existing securities exchange rules covering customer accounts, margin requirements, trading halts, auctions, market-maker quoting obligations, order types and time-in-force.
The approval order does not address or foreclose CFTC jurisdiction over similarly structured KPI contracts falling under that agency's jurisdiction.
Chairman Atkins' statement is dated October 13, 2026.

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Bank of England Source document ↗

United Kingdom Bank of England Markets & Infrastructure ✓ 25 claims 23 Oct 2026

BoE securities lending committee flags T+1 readiness gaps and AI governance risks

The Bank of England's Securities Lending Committee met on 15 September 2026 to review T+1 settlement preparations, tax harmonisation challenges, digital asset developments and emerging AI use cases in securities finance. The minutes, published 22 October, give compliance teams a read on industry-wide readiness gaps and the issues supervisors and market bodies are watching ahead of October 2027 implementation.

The committee noted industry participants are broadly on track for T+1 implementation in October 2027 but highlighted significant differences in readiness between firms.
Persistent operational challenges include securities lending recalls, collateral sourcing, funding, settlement timing, partial settlements and agent lender capabilities.
The Tax & Regulations sub-committee reported increased operational challenges from holding-period rules and record date requirements across national tax regimes, which T+1 could amplify.
The group discussed a legal case involving potential re-characterisation of a securities financing transaction as a secured loan, which it said could have significant implications for repos and securities lending.
Members raised concerns about AI use in governance, resilience, vendor oversight and data security, particularly if AI systems gained access to sensitive operational data.

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European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 25 claims 23 Oct 2026

Euro area consumers see inflation ticking up, growth outlook deteriorating

The ECB's monthly Consumer Expectations Survey tracks euro area households' views on inflation, income, growth and housing, feeding directly into policy analysis. This release covers September 2026 fieldwork and shows a notable widening gap between rising price expectations and weakening growth sentiment, worth watching for anyone tracking consumer demand or credit conditions.

Median perceived inflation over the past 12 months rose to 3.6% in September from 3.5% in August, with 12-month-ahead expectations up to 3.1% from 3.0%.
Expectations for economic growth over the next 12 months fell to -1.5% in September from -1.2% in August.
Expected unemployment rate 12 months ahead increased to 11.3% from 11.0%, with the bottom income quintile expecting 13.6% versus 9.7% for the top quintile.
Expected mortgage interest rates in 12 months' time stayed at 4.9%, while home price growth expectations rose to 3.5% from 3.4%.
The net percentage of households reporting tighter credit access, both over the past 12 months and expected ahead, increased compared with August.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Markets & Infrastructure ✓ 15 claims 23 Oct 2026

US housing starts fall again in September, missing forecasts at 1.221m

The American Bankers Association's DataBank note reads the September Census Bureau housing report for banks with mortgage and construction exposure. Starts fell for the month, missed market expectations and ran below a year ago, continuing a decline the ABA traces to a 2022 peak. The single forward-looking positive is multifamily permitting. This is a short indicator piece, useful for pipeline and credit-demand context.

September housing starts were 1.221 million SAAR, below the 1.305 million market expectation and 5.2% under the revised August figure of 1.288 million.
The September reading was 7.4% below the September 2025 rate of 1.319 million, continuing a decline the ABA dates to a 2022 peak.
Single-unit starts fell 4.6% and multiunit starts fell 6.7% for the month, while single-unit permits fell 4% and multiunit permits rose 6.1%.
Starts in the South rose 6.1% from August to 714,000, the only region up for the month.
The ABA Office of the Chief Economist cites affordability, labor shortages, input costs and elevated mortgage rates, and says residential building could remain subdued.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 19 claims 23 Oct 2026

Texas Stock Exchange offers equity stakes to lure first ten corporate listings

A Texas Stock Exchange rule filing, effective immediately under SEC fast-track procedures, creates an equity incentive program for the first wave of corporate listings. Compliance teams at issuers weighing a listing transfer, and rivals tracking exchange competition for listings, should note the eligibility thresholds and vesting conditions set out below.

Rodeo II grants 100,000 restricted stock units in TXSE Group Inc. to each of the first ten qualifying Founding Partners.
Primary listings require a trailing 90-trading-day average market cap of at least $3.5 billion; dual listings require at least $100 billion.
Units vest 50% on the first anniversary and 50% on the second anniversary of continuous listing on TXSE.
The program runs until all awards are allocated, December 31, 2026, or TXSE terminates it, whichever comes first.
TXSE may increase the award pool to fifteen at its sole discretion, with public notice on its website.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 21 claims 23 Oct 2026

Cboe EDGX adopts generic listing standards for options on multi-crypto-asset trusts

Cboe EDGX has filed a non-controversial rule change, operative on filing, that lets it list options on commodity-based trusts holding more than one crypto asset and on exchange-traded funds defined under Rule 6c-11. The standards copy rules the SEC already approved for affiliate Cboe Options. Comments are open until November 12, 2026, and the Commission may suspend the change within 60 days.

Each crypto asset in a listed multi-asset trust must have an average daily market value of at least $700 million over the trailing 12 months and underlie a derivatives contract on a market with a comprehensive surveillance sharing agreement.
The filing permits options on exchange-traded funds defined under Rule 6c-11, relying on that rule's portfolio transparency requirements as the anti-manipulation basis.
Continued listing standards require the Exchange to review the market-value criterion monthly and consider suspending opening transactions if criteria are no longer met.
The rules are substantively identical to Cboe Options standards approved by the SEC in April 2026 under SR-CBOE-2026-020.
The change became operative on filing after the SEC waived the 30-day delay; written comments are due by November 12, 2026.

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SEC Speeches and Statements Source document ↗

United States SEC Speeches and Statements Markets & Infrastructure ✓ 16 claims 23 Oct 2026

SEC trading chief details Rule 611 review, tokenised venue exemption and new derivatives

A speech by the SEC's Division of Trading and Markets director lays out the status of three live market structure initiatives: the proposed rescission of Rule 611, a conditional exemption for tokenised securities trading venues, and a wave of new derivatives products entering the market under SEC and CFTC jurisdiction. It matters because each affects execution obligations and venue registration status.

The Division is analysing over 1,200 comment letters on the June 11 proposal to rescind Rule 611 and amend Rule 610(e) for locked and crossed markets.
Chairman Atkins directed the Division to review Rule 610 access fee caps and Rule 612 minimum pricing increments by year-end, alongside any Rule 611 change.
The Commission approved the Innovation Exemption on September 17, a five-year conditional exemption from the exchange definition for Tokenized Securities Venues trading tokenised NMS stocks.
Five CFTC-registered DCMs, Coinbase, Kalshi, Bitnomial, NADEX and ICE Futures, filed Form 1-Ns in September to notice register as security futures exchanges.
The Commission approved Cboe's proposal to list binary security options based on KPIs tied to NMS securities, and CME launched cash-settled single-stock futures on July 27.

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Federal Register — Treasury Source document ↗

United States Federal Register — Treasury Markets & Infrastructure ✓ 20 claims 23 Oct 2026

Treasury finalises Treasury auction rule changes ahead of system upgrade

Treasury has issued a final rule amending the Uniform Offering Circular that governs the sale and issuance of marketable Treasury bills, notes and bonds. Most changes are technical, but one reworks how submitters hand over noncompetitive customer bids. The rule took effect on 15 October 2026, though the operationally significant pieces apply only when Treasury's upgraded auction system goes live.

Submitters must provide each individual noncompetitive customer's name and bid amount before the noncompetitive auction close, and can no longer submit a summary bid amount.
The amendments to 31 CFR 356.14 and 356.23 apply from the first auction conducted on Treasury's upgraded auction system, which Treasury will communicate in advance; all other changes apply from the effective date of 15 October 2026.
Treasury is updating terminology across sections 356.15, 356.20, 356.21, 356.23 and others, including using 'award' and 'recognize' in place of 'accept' and 'tender'.
Treasury removed references to http://www.treasurydirect.gov in sections 356.23(a) and 356.31(a), stating instead that it will make auction results available on its website.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Markets & Infrastructure ✓ 33 claims 22 Oct 2026

US industrial production rose 0.7% in September as utilities surged

The Federal Reserve's September industrial production report, summarised by the ABA Banking Journal, shows headline output up 0.7% after a flat August, driven by utilities and consumer goods. Manufacturing managed only a modest gain as motor vehicle output fell. For bank economists and credit teams tracking the real economy, the composition matters as much as the headline.

Total industrial production rose 0.7% in September and stood 2.2% above its year-earlier level at 104.0% of the 2017 average.
Utilities output surged 3.5% and manufacturing rose 0.3%, while business equipment was unchanged among the major market groups.
Motor vehicles and parts output fell 3.0%, dragging on durable manufacturing, which edged up just 0.1% for the month.
Semiconductor and related electronic components output rose 28.4% in the third quarter, lifting durable manufacturing to a 3.8% annual growth rate.
Capacity utilization moved up to 76.9%, which remains 2.5 percentage points below its 1972 to 2025 long-run average.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 25 claims 22 Oct 2026

Cboe EDGX bars unpriced orders outside regular hours ahead of 23x5 launch

Cboe EDGX has filed two clarifying amendments to its order-handling rules as it prepares to trade 23 hours a day, five days a week. The changes restrict execution of unpriced orders to regular trading hours and tighten the wording on when Day Orders entered overnight expire. The filing took effect immediately as non-controversial, with comments open until November 12, 2026.

New text in Rule 11.1(a)(3) states that orders without a limit price will not be eligible for execution outside Regular Trading Hours, which are 9:30 a.m. to 4:00 p.m. Eastern Time.
Rule 11.6(q)(2) is amended so a Day Order entered during Order Acceptance Queueing Time or the Overnight Trading Session expires at the end of Regular Trading Hours on the business day to which the Overnight Trading Session belongs.
The Exchange filed the change as a non-controversial proposal under Section 19(b)(3)(A)(iii) and Rule 19b-4(f)(6), making it immediately effective.
The amended rule text takes effect in December 2026 pending industry readiness, operative in conjunction with the Original Filing approved under SR-CboeEDGX-2026-019.
Written comments must be submitted on or before November 12, 2026, referencing file number SR-CboeEDGX-2026-071.

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Bank of Ghana Source document ↗

Bank of Ghana Markets & Infrastructure ✓ 10 claims 22 Oct 2026

Bank of Ghana publishes Q4 2026 government securities issuance calendar

The Bank of Ghana has released its quarterly notice confirming publication of the government's securities issuance calendar covering October to December 2026. This brief update is relevant to treasury and fixed-income teams tracking Ghana's sovereign debt issuance schedule for planning purposes.

Notice No.51 was published by the Bank of Ghana on October 22, 2026.
The notice covers the government's issuance calendar for the period October to December 2026.
The published source page does not reproduce the calendar's specific auction dates or instrument details.
The notice was issued alongside other Bank of Ghana publications dated between September 25 and October 22, 2026.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Markets & Infrastructure ✓ 10 claims 22 Oct 2026

US retail sales rise 0.8% in September, topping forecasts

A short data note from the ABA Office of the Chief Economist on the Commerce Department's September 2026 retail sales estimate, with the trade group's read on what it means for consumer lending demand. Useful for bank economists and lending teams tracking consumer demand signals.

September 2026 retail and food services sales reached $745 billion, up 0.8% from August, exceeding the 0.3% market expectation.
August 2026 retail sales growth was revised upward to 1.3% from an initial 1.1%.
Gasoline station sales rose 6.4% in September, while sales excluding gas stations rose only 0.2%.
Retail sales were up 6.2% year over year compared with September 2025.
The ABA Office of the Chief Economist warns that sustained higher essential spending could hurt consumer loan performance.

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BIS Press Releases Source document ↗

Global BIS Press Releases Markets & Infrastructure ✓ 17 claims 22 Oct 2026

BIS study finds offshore NDF trades move onshore exchange rates within minutes

BIS working paper 1383 examines how offshore non-deliverable forward trading in ten emerging market currencies feeds through to onshore spot rates, using transaction-level data cleared through LCH ForexClear from 2014 to 2025. Relevant for central banks and FX desks assessing how capital controls and bank access rules shape currency transmission.

The paper uses transaction-level data on NDF trades for 10 emerging market currencies cleared through LCH ForexClear from 2014 to 2025.
A $1 billion increase in offshore dollar demand moves the onshore exchange rate by about 10 basis points within minutes.
The same $1 billion shock moves the offshore forward rate by about 18 basis points.
The offshore-onshore price gap narrowed when Indian banks were allowed to participate in offshore markets in 2020 and widened again when that access was restricted in 2026.
The study draws on four episodes of regulatory change affecting banks' offshore NDF access in China, Malaysia and India.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 25 claims 22 Oct 2026

Nasdaq GEMX to end cross-market risk protections shared with ISE

A routine but operationally relevant exchange rule filing: Nasdaq GEMX is removing the option for firms to link two risk-management tools, the Market-Wide Speed Bump and the Kill Switch, across GEMX and its affiliate ISE. Firms trading on both venues will need to reconfigure risk parameters separately for each exchange.

GEMX proposes to delete cross-market election language in Options 3, Section 15(a)(3)(B)(vii) for the Market-Wide Speed Bump and Section 17 for the Kill Switch.
The change removes the ability of Market Makers and Members to apply these risk protections jointly across GEMX and affiliate Nasdaq ISE, LLC.
Of Nasdaq's five affiliated options exchanges, only GEMX and ISE currently offer cross-market MWSB and Kill Switch functionality; MRX, Phlx, NTX Options and NOM operate on a per-exchange basis only.
Nasdaq ISE has filed a companion rule change to make conforming amendments on its own exchange.
The Exchange will implement the change on or before Q2 2027, announced via an Options Trader Alert, with comments due November 6, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 13 claims 22 Oct 2026

NYSE clarifies ETP opening rule for initial listing trading halts

A narrow NYSE rule filing clarifies how newly listed exchange-traded products open trading after an Initial Listing Regulatory Halt. The change took effect immediately under SEC fast-track procedures. Listings and market structure counsel should note the file number and comment deadline even though the exchange itself frames the amendment as non-substantive.

NYSE filed the proposed rule change, SR-NYSE-2026-48, with the SEC on October 1, 2026.
The amendment adds language to Rule 7.18(b)(5)(B)(v) specifying that eligible ETPs open after 9:30 a.m. ET with an IPO Auction under Rule 7.35(a)(1)(D).
NYSE states the change is non-substantive because Rule 7.35(a)(1)(D) already mandates this outcome.
The rule became effective immediately under Section 19(b)(3)(A)(iii) of the Exchange Act and Rule 19b-4(f)(6), though the SEC may summarily suspend it within 60 days of filing.
The SEC is accepting public comment on the filing, under file number SR-NYSE-2026-48, through November 6, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 18 claims 22 Oct 2026

LTSE adds market maker rebates of up to $1,250 a month per security

LTSE has filed a fee schedule change creating a Market Maker Incentive Program, paying registered market makers for quoting at the NBBO in eligible securities. The filing took effect immediately and is open for public comment through November 6, 2026.

The proposed rule change took effect upon filing with the Commission on September 30, 2026, under Section 19(b)(3)(A)(ii).
Market makers quoting at the NBBO at least 70% of the time in Dually-Listed Securities earn $1,250 monthly, compared with $850 (50-70%) or $1,000 (70%+) for Non-LTSE Listed Securities.
The Monthly Incentive Cap limits incentives for Non-LTSE Listed Securities to no more than 20 for every one Dually-Listed Security in which a market maker is registered.
LTSE states it currently holds less than 1% market share of executed equities trading volume.
Comments on the filing, numbered SR-LTSE-2026-22, are due on or before November 6, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 23 claims 22 Oct 2026

24X National Exchange widens warrant equity program and drops market share hurdle

24X National Exchange has amended the warrant performance incentive program that lets trading Members earn units in its parent, 24X US Holdings LLC. The filing adds a second equity tranche, extends the program into 2028, cuts the entry fee for maker-only participants, scraps the exchange market share vesting condition and excludes index rebalance dates from volume targets. It took effect on October 1, 2026.

The additional equity tranche consists of 2,759,103 Non-Voting Common Units, representing 22.25% of outstanding total units on a fully diluted basis of 24X US Holdco as of September 29, 2025.
New Participants may prepay $250,000 in Exchange fees for additional equity only, calculated on maker volume, or $500,000 for both original and additional equity.
24X eliminates the 24X Minimum Overall Market Share threshold as a warrant vesting condition for both original and additional equity.
The Exchange excludes 18 specified index rebalance and reconstitution dates tied to MSCI, Russell and S&P from Target Volume calculations.
The change took effect October 1, 2026 under Section 19(b)(3)(A); comments are due by November 9, 2026.

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ISDA Source document ↗

United Kingdom ISDA Markets & Infrastructure ✓ 21 claims 22 Oct 2026

ISDA tells FCA to consult again on three-year back-reporting window

ISDA has responded to FCA consultation CP26/30 on equity market structure and transparency, addressing two questions that reach beyond cash equities: whether equity swaps should fall within public transparency, and a proposed three-year window for back-reporting of incorrect and failed post-trade transparency reports. The response signals where the derivatives industry will push back as the FCA reshapes the UK transparency regime.

ISDA responded on October 16 to FCA consultation CP26/30, which is principally focused on cash equity market structure and transparency.
On expanding transparency to equity swaps, ISDA expanded on its previous opposition set out in its response to the discussion paper within CP25/20.
ISDA argued the FCA should consult further on the proposed three-year back-reporting window for incorrect and failed post-trade transparency reports.
ISDA framed the back-reporting question as a balance between market access to transaction information and proportionate regulatory costs for firms.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Markets & Infrastructure ✓ 10 claims 22 Oct 2026

Household net worth rose nearly $13 trillion in Q2 2026, ABA data shows

A brief ABA DataBank item tracks household net worth through the second quarter of 2026, finding equity gains behind a sharp rise. The item is short but relevant for compliance and risk teams tracking consumer spending resilience amid labor market and price pressures.

Household net worth rose by nearly $13 trillion between the first and second quarter of 2026.
The increase was driven overwhelmingly by gains in stock prices, according to the ABA DataBank.
The ABA notes labor market momentum is slowing while households face continued price pressures.
The ABA flags that growing equity exposure in household wealth leaves consumers more vulnerable to a market downturn.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 17 claims 22 Oct 2026

Nasdaq cuts options market maker rebates by one cent across all six tiers

Nasdaq filed a rule change with the SEC trimming the rebates it pays NOM Market Makers for adding liquidity in Penny Symbols on its options market. The filing took effect immediately under the Exchange Act, though the SEC is still soliciting comment. Pricing teams at options market making firms should check whether the new tier payouts change their routing economics.

Nasdaq lowered NOM Market Maker rebates for adding liquidity in Penny Symbols by $0.01 per contract across all six tiers, effective October 1, 2026.
The revised rebate schedule ranges from ($0.19) at Tier 1 to ($0.44) at Tier 6, down from the prior ($0.20) to ($0.45) range.
Rebates for Customers, Professionals, Broker-Dealers, Firms and Non-NOM Market Makers remain unchanged, and tier qualifying criteria are not modified.
The rule change took effect immediately under Section 19(b)(3)(A)(ii) of the Securities Exchange Act, but the SEC may summarily suspend it within 60 days of filing.
Written comments on file number SR-NASDAQ-2026-087 must be submitted to the SEC on or before November 9, 2026.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 15 claims 22 Oct 2026

Nasdaq PHLX raises entry-tier floor broker rebates, effective immediately

A fee-schedule filing from Nasdaq PHLX LLC, effective on filing under Section 19(b)(3)(A)(ii), raises the entry-level rebates paid to Floor Brokers under its Floor Broker Incentive Program and corrects a stale example left over from an earlier amendment. The SEC is soliciting comments through November 9, 2026, though the change is already in force.

Tier 1 per-contract rebate with a Customer on one side rises from $0.04 to $0.07, matching the existing Tier 2 rate.
Tier 1 per-contract rebate with Non-Customers on both sides rises from $0.10 to $0.18, matching Tier 2 and Tier 3 rates.
Example 4 is corrected to reflect the Tier 4 Non-Customer rebate of $0.20 per contract, fixing an oversight from a prior filing.
The rule change became effective on filing under Section 19(b)(3)(A)(ii) of the Exchange Act, with no written comments solicited or received.
The SEC is accepting public comment on file number SR-PHLX-2026-61 through November 9, 2026, and retains a 60-day suspension power.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Markets & Infrastructure ✓ 20 claims 21 Oct 2026

BOX doubles floor market maker fee to $1.00 in non-penny options classes

BOX Exchange has raised the per-contract fee it charges floor market makers for manual open-outcry orders in non-penny classes and sweetened a rebate for floor brokers. The change took effect on filing under the immediate-effectiveness route for fee changes. This item sets out exactly what moved, who pays, and the window the SEC has to intervene.

The Market Maker per-contract fee for QOO and FOO orders in Non-Penny Interval classes rises from $0.50 to $1.00, while fees for other account types are unchanged.
The enhanced Floor Broker rebate for QOO and FOO orders that trade with a Floor Market Maker in Non-Penny Interval classes rises from $0.20 to $0.25 per contract.
The filing is effective on filing under Section 19(b)(3)(A)(ii) and Rule 19b-4(f)(2), and became operative on October 1, 2026.
BOX cites comparable floor market maker fees of $1.00 at PHLX, $0.90 at NYSE American and NYSE Arca, and $0.94 at MIAX Sapphire.
The SEC may summarily suspend the change within 60 days of filing; written comments are due by November 9, 2026 under file number SR-BOX-2026-20.

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Croatian Financial Services Supervisory Agency (HANFA) Source document ↗

European Union Croatian Financial Services Supervisory Agency (HANFA) Markets & Infrastructure ✓ 16 claims 21 Oct 2026

HANFA flags T+1 settlement switch as EU completes regulatory framework

Croatia's HANFA relays an ESMA notice marking completion of the regulatory framework for the EU's shift to T+1 securities settlement. It sets out an interim deadline in December 2026 and urges market participants to begin testing now, a year ahead of the full transition.

The EU will move to a T+1 settlement cycle on 11 October 2027.
Investment firms and their clients must align allocation and confirmation processes with new requirements by 7 December 2026.
From 7 December 2026, use of electronic and standardised communication channels and international messaging standards becomes mandatory.
Machine-readable communication methods are required except in cases of temporary technical difficulties.
ESMA's Regulatory Technical Standards and revised Guidelines on standardised procedures and communication protocols now complete the regulatory framework.

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