The CFTC has decided to exempt post-trade risk reduction services from clearing obligations, a move some market participants say could ease capital and operational burdens. Clearinghouses are concerned the exemption could encourage firms to shift derivatives trades out of central clearing and into bilateral structures.

The National Securities Clearing Corporation has shifted to a 24x5 clearing model, supporting overnight trading from Sunday at 8 p.m. Eastern time to Friday at 8 p.m. This move is a critical step toward near-24/7 trading in US equity markets, with exchanges expected to extend trading hours by the end of the year. The Depository Trust & Clearing Corporation has prepared for this change since the transition to T+1 settlement in 2024, and has implemented technical adjustments, such as new tags for trading sessions and business dates, as part of the preparation.

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Hong Kong has begun trial operations for a new gold clearing system backed by major banks as it seeks to become a larger Asian bullion trading hub. The platform will support deposits, withdrawals and over-the-counter settlement, while officials aim to build toward a global reference rate and stronger links with Shanghai's gold market.

The Abu Dhabi Securities Exchange is planning to remove daily price limits for listed ETFs and futures in an attempt to increase liquidity and efficiency. The move will come into effect August 3 2026.

Citigroup is set to become the first new clearing member in a decade to join London Precious Metals Clearing Ltd, raising the number of clearing banks to five. After years of waiting and a lengthy application process, Citi's addition is seen as a significant move, expanding its direct participation in the world's largest physical bullion market.

Quantitative hedge funds are experiencing their worst performance since 2023 as a violent rotation in the stock market disrupts momentum strategies. A long-short momentum strategy dropped more than 3% for the second consecutive week, leading to a two-week loss of more than 6%. Systematic long-short managers fell 2.1% last week after a 3.1% decline the previous week.

Euronext is scaling back planned trading data fee increases after industry pushback over higher costs for key market information. The exchange operator said the revised framework better reflects expected client usage, with some fees cut by more than half, though charges for alternative trading venues remain unchanged.

South Korea's first full day of round-the-clock won trading passed with below-average volume and limited price movement. Dollar-won spot turnover totaled about $15.1 billion, 6% below the 30-day average, as officials monitored the expanded session for glitches while activity remained concentrated in Seoul hours.

The Eu