A new Acuiti survey found 61% of US Futures Commission Merchants are "very concerned" about exchanges operating their own FCMs, citing conflicts of interest and unfair competition. The findings come after CME gained approval for a non-clearing FCM which will support its FanDuel venture, as US exchanges expand into event contracts and prediction markets despite limited institutional appetite.

On its Q3 earnings call, Intercontinental Exchange CEO Jeffrey Sprecher said the firm's $2 billion investment in Polymarket will help ICE adopt blockchain-based smart contracts and enable 24/7 tokenized collateral across its clearing houses. Sprecher said Polymarket's architecture offers "true non-intermediated settlement," supporting ICE's long-term plan to modernize margin management, expand event-driven data distribution, and position the exchange for the next phase of decentralized market infrastructure.

Sports contracts now account for the majority of trading on Kalshi, with open interest exceeding $100 million and weekly volumes nearing $1 billion. The surge marks a shift from political to sports-focused prediction markets, as rivals like Polymarket and DraftKings expand into the space despite ongoing lawsuits over state regulation and federal oversight.

Intercontinental Exchange will begin clearing its main euro short-term interest rate futures through ICE Clear Netherlands from December 2, pending regulatory approval. The move will allow European clients to meet the EU's new active account requirement, which mandates partial clearing of euro-denominated trades within the bloc, while maintaining the option to trade via ICE's London market.

A surge in bullish call-option trading has amplified the S&P 500's rally toward the 7,000 level, leaving dealers in short gamma positions that could intensify market swings. Analysts warn that while hedging could fuel further gains if the index breaks higher, expensive calls and stretched tech valuations raise the risk of a 3-5% pullback in coming weeks.

South Korean banks plan to restart sales of equity-linked autocallable products by early 2026 under stricter Financial Services Commission rules aimed at preventing past mis-selling. Sales will be limited to qualified branches staffed by certified professionals, shrinking market potential and likely excluding some global players, though strong equity markets and rising issuance suggest renewed appetite among local investors.

JPMorgan Chase said it has tokenized a private-equity fund on its Kinexys Fund Flow blockchain, offering the product to private bank clients ahead of a broader rollout next year. The move targets real-time ownership records and near-instant settlement, with the bank exploring collateral use and expansion into private credit, real estate, and hedge funds amid a broader post-GENIUS Act push to tokenize traditional assets.

The London Metal Exchange has opened a consultation to make its temporary front-month lending rule permanent amid persistently low warehouse stocks. The proposal would refine the rule with tiered thresholds tied to stock levels, aligning it with Tom-Next lending limits, as the LME continues broader market reforms including electronic options trading slated for late 2026.

SIX Group has named Aquis Technologies as the technology provider for its trading platforms, following its £224.6 million acquisition of Aquis in July. The Aquis Equinox matching engine will power all SIX exchanges to boost liquidity, with a new equities platform set for 2027, as the group expands its technology business across 16 European markets.

Euroclear and LCH SA will let clearing members settle Italian government bonds and repos directly in Euroclear Bank from 2026, expanding connectivity across European markets. The move aims to streamline balance sheet management, reduce post-trade fragmentation, and integrate Italian debt into Euroclear's Collateral Highway for greater cross-border funding efficiency.