The CFTC proposed regulating leveraged crypto trades offered to retail customers and creating a new registration category for exchanges that provide them. The plan, open for 60 days of public comment, could expand federal oversight of crypto markets after broader market-structure legislation stalled, while spot-only exchanges could remain under state licensing regimes.

The Commodity Futures Trading Commission has proposed its first regulations for cryptocurrency markets, aiming to clarify regulatory uncertainty that has driven firms overseas. The rules, Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets, would establish requirements for CFTC-registered exchanges. "The last chapter of crypto regulation was written by crisis. The new frontier of finance will be written by opportunity, innovation and clear rules," CFTC Chairman Michael Selig writes.

The Financial Conduct Authority is planning further reforms to UK clearing and margin rules in 2027 to enhance market competitiveness and allow professional participants to take on more risk. FCA Director of Infrastructure and Exchanges Jon Relleen says the regulator has increased the clearing threshold for commodity derivatives and introduced measures to boost transparency in bond and derivatives markets.

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A rise in 30-year Treasury yields toward 6% could trigger a cheapest-to-deliver switch in long-bond futures, forcing asset managers to rebalance duration and potentially intensifying selling in the cash market. Asset managers cut nearly 100,000 ultra-long futures contracts in the week through Sept. 29, while Barclays estimates gross rebalancing needs at about $25 million per basis point in long-bond futures.

Startup Verifact Markets has launched a prediction market where users can bet on disputed facts from the past, such as the origin of COVID-19 and the circumstances of Jeffrey Epstein's death. Funded by Positron Capital Management, the platform allows users to submit evidence to support their positions, with plans to reward credible documentation. Initially available only outside the US, the market uses stablecoins for trading and aims to resolve debates on controversial topics by integrating user-submitted evidence into its decision-making process.

Johann Evrard, CEO of Predictive Labs, sees significant potential for prediction markets in the Asia-Pacific region, particularly for providing accurate forecasts on economic indicators. Evrard predicts that prediction markets will follow a trajectory similar to cryptocurrencies, starting on the fringes before gaining mainstream acceptance as regulatory clarity improves. Evrard expects Hong Kong to lead in regulatory development due to its progressive stance on crypto and decentralized finance.

CME's new cash-settled single-stock futures, paired with an exchange-for-physical facility, could offer dealers an alternative to reverse conversions for managing equity funding and balance-sheet costs. Reverse conversions combine a short stock position with a short put and long call to create a synthetic long forward and lock in an options-implied financing rate.

Indian retail investors are shifting toward leveraged stock buying after tighter options rules, with margin-financed shares rising from 58 billion rupees in 2019 to more than 1.5 trillion rupees as of August. Margin interest now accounts for roughly 35% of income at brokerages tracked by CareEdge Ratings, up from 22% three years earlier, as annual borrowing rates typically range from about 9% to 17%.

Intercontinental Exchange debuted gold futures trading in London this week, marking its latest effort to establish precious metals derivatives in the city renowned for physical bullion trading. The new contracts are tied to the daily auction prices set in London and will clear through ICE's London arm. ICE reported a 51% year-on-year increase in average daily volume for September, driven by a sharp rise in interest-rate derivatives and stronger trading across energy and commodity markets.

The Commodity Futures Trading Commission has issued no-action relief to allow designated contract markets to convert perpetual-style broad-based security index futures contracts into true perpetual futures. The move, prompted by a request from Coinbase Derivatives, is part of a broader effort to integrate offshore crypto derivatives into US markets.

SEBI is reportedly expected to stop using closing auctions to set derivatives settlement prices for at least a year, shifting instead to the volume-weighted average price from the final 30 minutes of trading after the new system caused sharp expiry-day swings. Closing auctions are still expected for le