Revenue goes to the tokenizers and the risk goes to the companies.
From The Markets

Tradeweb to Acquire Trumid

Tradeweb says the $1.97 bln deal combines dealer and buy-side protocols, client relationships, and data.

The shift to 24x5 trading across asset classes is accelerating.

The exchange will bring the same approach to equities in December.

The initiative establishes a phased pathway for integrating blockchain into U.S. securities markets.

A DCO is a regulated clearinghouse for derivatives.

The question is how these markets can scale, rather than if the technology can be put to practical use.

SEC's rule for central clearing of eligible Treasury cash transactions goes live on 31 December.

The use of stablecoins is attracting growing attention as a means of advancing payments through blockchain.

Daily Email Feature

UK in Strong Position to Meet T+1

There is less than a year before Europe migrates to T+1.

The remaining regulatory processes to complete the offer are expected around year end.

From The Markets

HKEX Sets Roadmap for T+1

Hong Kong Exchanges and Clearing is targetting implementation in the second half of 2028.

Clients can manage exposures to traditional assets outside typical exchange operating hours.

They bring diversifying risk premia to traditional institutional and crypto native investors.

Year-to-date net inflows of $432.4bn are the highest on record.

The letter calls for lower trading costs, improved access to liquidity & stronger market infrastructure.

CLS migrated to a new data center environment.

Fixed income is the largest asset class in global finance.