News Centre

ISDA derivatiViews: Working Towards Tokenized Collateral

Date 30/09/2025

One of the lessons learned from recent market shocks – including the 2020 dash for cash and the UK gilt market crisis in 2022 – is that when volatility strikes and market participants must suddenly generate large amounts of cash to meet a spike in variation margin (VM) calls, liquidity can quickly drain away and destabilize the market. In response, a growing number of market participants are looking at alternatives to cash and government securities to meet their VM requirements, prompting ISDA to explore how tokenization could be used to unlock a broader array of assets to post as collateral.

Update On Working Toward Treasury Clearing Implementation, SEC Commissioner Mark T. Uyeda, Sept. 30, 2025

Date 30/09/2025

In December 2023, the Commission adopted the Treasury Clearing rule,[1] which, among other things, mandated the clearing of certain eligible secondary market transactions in U.S. Treasury securities by direct participants in covered clearing agencies. Last month, Chairman Atkins asked me to oversee the Commission’s efforts to implement this rule.

SIFMA Statement Supporting SEC Order To Reduce CAT Costs

Date 30/09/2025

SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the order issued by the Securities and Exchange Commission (SEC) to reduce operating costs of the Consolidated Audit Trail (CAT):

SEC Issues Order To Reduce Operating Costs Of Consolidated Audit Trail

Date 30/09/2025

The Securities and Exchange Commission today issued an order granting conditional exemptive relief related to certain requirements of the National Market System Plan governing the Consolidated Audit Trail (CAT NMS Plan), Rule 613 of Regulation NMS, and Rule 17a-1 under the Securities Exchange Act of 1934. This conditional exemptive relief allows the self-regulatory organizations that are the participants to the CAT NMS Plan to expeditiously and meaningfully reduce the operating costs of the consolidated audit trail (CAT) while maintaining core regulatory functionality.

Consolidated Audit Trail: A New Day For The CAT, Paul S. Atkins, SEC Chairman, Sept. 30, 2025

Date 30/09/2025

Today, the Commission approved an order that grants conditional exemptive relief  allowing the immediate implementation of much needed changes designed to save tens of millions of dollars in annual operating costs of the Consolidated Audit Trail (“CAT”). 

CFTC Announces Participation In World Investor Week 2025

Date 30/09/2025

The Commodity Futures Trading Commission’s Office of Customer Education and Outreach today announced its participation in World Investor Week, a global effort to emphasize the importance of investor education and protection. During the week, Oct. 6-12, the CFTC will warn the public about current scam trends and red flags through social media and webinars.

Global FX Trading Hits $9.6 Trillion Per Day In April 2025 And OTC Interest Rate Derivatives Surge To $7.9 Trillion: Triennial Survey

Date 30/09/2025

• $9.6 trillion per day in April 2025 and trading of over-the-counter (OTC) interest rate derivatives increased to $7.9 trillion per day.
• The US dollar maintained its place as the most traded currency, being on one side of 89% of all FX trades in April 2025, followed by the euro and the yen.
• Sales desks in the top four jurisdictions – the United Kingdom, the United States, Singapore and Hong Kong SAR – accounted for 75% of total FX trading, while the United Kingdom and United States accounted for 73% of OTC interest rate derivatives trading.

BIS Triennial Survey Of Foreign Exchange And Over-The-Counter Interest Rate Derivatives Markets In April 2025 – UK Data

Date 30/09/2025

In April this year, central banks and monetary authorities in 52 countries, including the United Kingdom, conducted the latest triennial survey of turnover in the markets for foreign exchange and over-the-counter (OTC) interest rate derivatives. The survey is co-ordinated on a global basis by the Bank for International Settlements (BIS), with the aim of obtaining comprehensive and internationally consistent information on the size and structure of the corresponding global markets. The Bank of England conducted the UK survey, which covers the business of leading financial institutions located within the United Kingdom in these markets.

Regulatory Perspective And Priorities For 2025 - Speech By Lucy Castledine, UK Financial Conduct Authority Director Of Consumer Investments, At The Personal Investment Management & Financial Advice Association (PIMFA) Compliance Conference 2025

Date 30/09/2025

Key messages:

• We want to challenge ourselves to be a smarter regulator and engage with you so we can raise standards together.
• Input into our proposals on targeted support and simplified advice – these will define the future for decades to come.  
• Firms should continue to challenge themselves on Consumer Duty and how best to make sure clients have good outcomes.
• When firms see illegal content online, and have challenges reporting this content to tech platforms, let us know.  

NSE Indices Index Dashboard For The Month Ended September 2025

Date 30/09/2025

Click here to download the 'Index Dashboard' for the month ended September 2025.