OBSERVATIONS
This year’s honoree for the A. Stamford White Award is former RJO O’Brien CEO Gerry Corcoran, who was inducted into the FIA Hall of Fame earlier this year. Gerry follows Craig Donohue, who received the award last year, and Advantage Futures CEO Joe Guinan, who was the inaugural winner. A. Stamford White was a two-time president of the Chicago Board of Trade, a co-founder of the Boy Scouts of America, the first president of the Chicago Area Council, and the founder of the Owassipe Scouting Reservation, originally called Camp White.
DRW Founder and CEO Don Wilson will be the guest on Bloomberg’s Odd Lots Live at the City Winery, 1200 West Rand Road, Chicago, IL with Tracy Alloway and Joe Weisenthal on October 15. Topics for the discussion are sure to include tokenization and compute trading. Tickets are $75 and you can register HERE.
On 9/28/2026, Coinbase Clearing LLC and Quanta Clear, Inc. were registered by the CFTC as Derivative Clearing Organizations, or DCOs.
Trading Technologies (TT) announced it had secured two Editors’ Choice Awards for Derivatives Solutions Excellence at the GlobalCapital Derivatives Awards 2026, earning top recognition for its platform across the Americas, Europe, and Asia. These cross-continental honors follow TT’s recent win at the FOW Asia Pacific Awards, bringing the firm’s total to 22 industry awards for its multi-asset trading solutions this year. ~ JJL
Trading Technologies Delivers Complete Multi-Asset Trading Engine with TRAFiX Acquisition
The world of capital markets is moving faster than ever before, with new products and asset classes coming in rapid-fire and 24/7 trading becoming the norm. The other norm is multi-asset trading on one platform. Trading Technologies took another step forward to meet the needs of this demanding environment by adding a crucial asset class that was missing from its multi-asset technology platform: equities and equity options. It is doing this by acquiring TRAFiX, a provider of equities and equity options order and execution management systems.
LEAD
JPMorgan Strategists See Higher Volatility Into US Midterm Vote
Bernard Goyder and Matthew Griffin – Bloomberg
Options traders seem unperturbed by the US midterm elections, creating a potentially precarious setup for a stock market already dealing with a rout in bonds and uncertainty about the Federal Reserve’s interest-rate path. The S&P 500 Index is expected to move 0.8% in either direction on Nov. 4, the day after the vote, data compiled by Barclays Plc show. Bookmakers see a 62% chance of a Democratic sweep in Congress, according to Kalshi data, while the odds of a split Congress, where the Republicans retain the Senate while Democrats win the House, hover near 29%.
/jlne.ws/4rK5q3R
Options Signal Calm Midterms, But Volatility Looms
Jackson Moreland – Briefs Finance
What markets are pricing right now With bonds wobbling and the Fed path hazy, options markets still expect a muted reaction to the midterms. Barclays Plc estimates the S&P 500’s implied move for the session immediately after the vote at around 0.8% up or down. Kalshi data currently show a 62% probability of a Democratic sweep, and close to 29% for a split Congress where Republicans keep the Senate and Democrats win the House. Part of the calm is the appeal of gridlock. A divided government can slow legislation, which often tempers big market swings. Strategists at Wells Fargo say traders, at least for now, view the vote as a “non-event.” That could change as the date approaches, and a messy outcome is not off the table.
/jlne.ws/4z1dIqm
What Was Revealed at Robinhood’s HOOD Summit
David Feld – Bankless
Robinhood shipped a long list at HOOD Summit yesterday, including weekend stock trading, expanded margin, new order types, and longer options hours, though not much explicitly about crypto. While Robinhood Chain and tokenization played a lesser role, three announcements stood out and landed on developments we’ve tracked closely: agents, perpetuals, and social trading.
/jlne.ws/4AHuVGN
Trading Technologies Expands Multi-Asset Push with TRAFiX Acquisition
Anna Lyudvig – Traders Magazine
Trading Technologies International (TT) has acquired TRAFiX, adding global equities and equity options to its platform as the company continues to expand beyond its futures and options business. The transaction, announced September 30, brings TRAFiX’s order and execution management systems and FIX connectivity capabilities into TT. Terms of the deal were not disclosed. TT said the acquisition extends its coverage from futures and options, foreign exchange, fixed income, commodities and digital assets into global equities and equity options.
/jlne.ws/4yvhoAM
Trading Technologies Buys TRAFiX to Fill Its Equities Gap
Koen Vanderhoydonk – FinanceX
Trading Technologies has acquired TRAFiX, the equities and equity options order and execution management specialist, buying its way into the one major asset class its platform did not cover and squaring up against multi-asset incumbents such as Bloomberg, ION Group and BlackRock’s Aladdin. The deal closed on 30 September and hands an exit to Marlin Equity Partners, the private equity firm that took a growth stake in TRAFiX in 2023. Terms were not disclosed.
/jlne.ws/4xVmmWq
Cboe Eyes VIX Perpetual Futures as Exchanges Move Beyond Crypto
Bernard Goyder – Bloomberg
Cboe Global Markets Inc. is looking at listing perpetual futures based on the Cboe Volatility Index, as US exchanges race to bring the highly levered instruments that dominate the crypto market to new asset classes. The VIX is a measure of how volatile S&P 500 options traders think the next 30 days will be. Unusually for such a widely cited metric, there is currently no way to trade the level of the index directly. That could change. Once there is more clarity about how perpetual futures are regulated in the US, Cboe will explore listing VIX perps, said Rob Hocking, global head of derivatives at Cboe.
/jlne.ws/4xPCkRL
Exchanges
Cboe and Robinhood Announce Planned Launch of New KPI Contracts, Further Expanding Prediction Market Offerings
Cboe
Cboe Global Markets, Inc. (Cboe: CBOE), a leading global markets operator and pioneer in equity and index derivatives, today announced at Robinhood’s third annual HOOD Summit in Houston, Texas, that it plans to launch a new category of binary contracts tied to company-specific key performance indicators (KPIs), expected in October 2026, subject to regulatory approval. Robinhood will be the first retail broker to offer these products to its clients at launch. The KPI binary options will provide investors with a new way to take positions on specific company metrics and corporate events through Securities and Exchange Commission (SEC)-regulated products traded on Cboe’s registered U.S. securities exchange. This proposed framework differentiates Cboe’s products from similar event-based contracts currently traded on designated contract markets (DCMs) and reflects its view that these securities products should be traded within the transparency, oversight and investor protections of the U.S. securities markets, including the benefits of federal preemption of state securities registration requirements.
/jlne.ws/4zbEMU1
Cboe Extends S&P 500 Options License Through 2051, Eyes Tokenized Options
BlockchainReporter – CryptoRank
Cboe Global Markets and S&P Dow Jones Indices have signed a 25-year extension of their exclusive licensing agreement, keeping Cboe’s exclusive rights to offer S&P 500 Index (SPX) options through 2051 and creating room to explore tokenized options contracts, the companies announced on Sept. 29. The deal continues a partnership that began in 1983 with the launch of SPX options, a product that has since become the global standard for gaining and managing U.S. equity market exposure.
/jlne.ws/4hChpvx
Markets Waver as 10-year Yields Hit 24-year Peak
JJ Kinahan – Cboe
JJ Kinahan is Senior Vice President, Head of Retail Expansion and Alternative Investment Products at Cboe Global Markets, Inc. (Cboe). Key Takeaways: 10-year yield taps 5.34% overnight Micron shares get little respect Accenture shares look to recover year-to-date losses Hello to the fourth quarter, a historically robust period for trading, especially after a third quarter challenged by market blips. Typically, a handful of drivers move the markets, such as holiday spikes in consumer spending, year-end institutional rebalancing and portfolio window dressing, and the so-called Santa Claus rally in the last five days of the year, coupled with the first two days of the next year. This is considered a seasonal adjustment, but always remember, past performance does not guarantee future results. Wall Street analysts are weighing a handful of headwinds at the onset of the fourth quarter, including higher bond yields, uncertainty about the direction of interest rates and ongoing geopolitical conflicts. There are also the mid-term elections as one more potential volatility driver.
/jlne.ws/3Tf67W3
Miami International Holdings Announces Date of Third Quarter 2026 Earnings Release and Conference Call
MIAX
Miami International Holdings, Inc. (NYSE: MIAX), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, will release its financial results for the third quarter ended September 30, 2026 after the close of market trading on Thursday, October 29, 2026. A conference call with remarks by the company’s senior management will begin at 5:00 p.m. ET.
/jlne.ws/3VdH2LN
Gold options volume flat in September as price ends about 9% below August peak, CME says
Eamonn Sheridan – investingLive
CME Group’s September metals options report shows gold options volume flat versus August, with gold ending the month around $4,270, below an August peak near $4,680, as volatility eased but stayed elevated, while silver fell more than 3% on the week.
/jlne.ws/470cRu3
Trading Overview in September 2026& First Half of FY2026 (April to September)
Japan Exchange Group
Japan Exchange Group released Trading Overview in September 2026 & First Half of FY2026 (April to September).
/jlne.ws/4hIPIkW
LSEG Board Appointment
LSEG
London Stock Exchange Group plc (LSEG) today announces that Amit Zavery will join the Board as a Non-Executive Director on 1 December 2026. He will also join the Risk, Remuneration and Nomination Committees.
/jlne.ws/46ZxiY2
LSEG and Snowflake expand collaboration to connect trusted financial data with cloud-native AI workflows
LSEG
Snowflake (NYSE: SNOW), the AI Data Cloud company, and LSEG announced an expanded five-year enterprise-wide collaboration at the Snowflake World Tour today. The relationship brings together LSEG’s trusted financial data and resilient financial market infrastructure with Snowflake’s cloud-based data and AI technology. By combining these strengths, the two companies aim to build a more open data ecosystem that makes high-quality financial information simpler and safer to access and share. As a result, customers will be able to use LSEG’s financial intelligence directly within the platforms and applications they already rely on.
/jlne.ws/4hmDEXB
Cboe Global Market’s New KPI Contracts Could Open a New Growth Avenue
TradingView
Cboe Global Markets, Inc. CBOE is expanding its derivatives portfolio with a new category of binary contracts tied to company-specific key performance indicators (KPIs). The products are expected to launch in October 2026, subject to regulatory approval, with Robinhood set to become the first retail broker to offer them. CBOE plans to initially list contracts linked to 23 U.S.-listed companies, giving investors a way to trade specific corporate metrics and events through SEC-regulated products. Cboe will waive fees on the contracts through the end of 2026, while Robinhood plans to offer them without fees during the period.
/jlne.ws/4yqme21
What Is Intercontinental Exchange (ICE) Signaling With Its New Energy Derivatives Push?
Simply Wall St
Intercontinental Exchange (NYSE: ICE) has rolled out new JKM LNG options and LNG freight futures in its global energy markets. The group has also introduced U.K. electricity options, expanding its power trading toolkit for European participants. ICE has shifted key power and gas contracts to a portfolio-based risk model designed to improve capital efficiency for clients.
/jlne.ws/4rGBzJr
Cboe Stock Jumps As 25-Year SPX License Extension Resets The Game
Tim Bohen – StocksToTrade
Cboe Global Markets (CBOE) just showed why traders watch market structure names closely. On 2026/09/30, CBOE closed at $275.29 after trading as high as $278.34, a sharp rebound from $261.75 the prior day. That swing reflects how strongly traders reacted to the long-term S&P 500 options license news.
/jlne.ws/4yBa9Hx
REGULATION
Cboe Options Exchanges Rule Filings
Cboe
SR-CBOE-2026-061 Amendment No. 1 October 1, 2026 The Exchange proposes an amendment to SR-CBOE-2026-061.
/jlne.ws/3VHaFVO
TECH
Robinhood’s Next Big Bet: AI Bots That Trade While You Sleep
Hannah Erin Lang – The Wall Street Journal
Robinhood Markets helped usher in a new generation of investors by making it easy to buy stocks on a smartphone. The next investing revolution, its executives said, will be led by bots. Artificial intelligence was front and center at Robinhood’s annual event for its most-active users. Holding court at the George R. Brown Convention Center in Houston, the brokerage’s executives unveiled a slew of new tools and services. Among the most significant: an in-app AI agent that can answer questions about the market, build an investment strategy from scratch and eventually place trades while you sleep, work or otherwise turn away from the screen. So-called agentic trading tools will give everyday traders capabilities previously reserved for hedge funds and other Wall Street pros, Chief Executive Vlad Tenev said.
/jlne.ws/4zcF9O7
