The Securities and Exchange Board of India is considering raising the intraday net exposure limit for index options to 5,000 rupees crore while introducing penalties for breaches on expiry days. Analysts say the move could shift liquidity patterns, with reduced volumes on expiry days but steadier participation on other sessions.

Major financial industry groups, including FIA, have sent a joint letter asking the Basel Committee on Banking Supervision to pause and reconsider upcoming rules governing banks' cryptocurrency activities. The industry groups argue that the rules are overly stringent given the increased mainstream adoption of cryptocurrency. The rules are set to take effect in 2026.

Citadel Securities is reportedly expanding its India presence, hiring options trader Prajual Maheshwari and planning further recruitment in Gurugram. The move comes as regulators tighten scrutiny on high-frequency trading after Jane Street's temporary ban over alleged manipulation. Despite the crackdown, India's surging derivatives market and retail inflows remain a magnet for global market makers.

Hong Kong Exchanges and Clearing has reported record earnings for the second quarter and first half of the year, driven by a surge in initial public offerings and stock market turnover. Net profit for the second quarter rose 41% to HK$4.44 billion, while first-half profit increased 39% to HK$8.52 billion, surpassing analysts' estimates.

Intercontinental Exchange is set to debut its US Treasury clearing service later this year, pending regulatory approval. The initiative, spearheaded by ICE Clear Credit, marks a significant milestone following the Securities and Exchange Commission's publication of ICE's application. This move positions ICE to offer an alternative clearing option for US government debt ahead of impending regulatory mandates and amid growing competition from established and new market players.

European Energy Exchange plans to introduce more regional Japanese power futures, building on significant growth in the Asian market. EEX traded 84 tWh of Japanese power futures in the first seven months of the year, a 140% increase from a year earlier, driven by higher demand for region-specific contracts.

President Donald Trump has met with the CEOs of Rio Tinto and BHP to discuss the Resolution Copper project in Arizona, which could meet 25% of US copper demand for 40 years. The project faces challenges including permitting delays and environmental concerns.

Researchers have introduced a closed-form asymptotic method that improves the pricing accuracy and speed of swaptions and constant maturity swap options. The approach enables robust, real-time calibration of multi-factor Gaussian models, with implications for risk management and derivatives valuation.

Option pricing suggests that a recent hike in Hong Kong dollar volatility might be temporary. Near-term implied volatility has surged, but longer-term measures remain stable, indicating traders view this as a temporary move.

Federal Reserve Governor Michelle Bowman has emphasized the need for regulators and banks to recognize the importance of technologies such as AI and cryptocurrency to maintain the banking system's relevance. Speaking at the Wyoming Blockchain Symposium, Bowman addressed her intent to limit regulatory scrutiny related to reputational risk and highlighted the potential of technology and suggested that regulators should facilitate their integration into the banking system. "Change is coming," Bowman said.

The Trump administration has expanded its 50% steel and aluminum tariffs to include 407 additional product categories, marking a significant broadening of its trade policy. The Department of Commerce announced that this move aims to enhance the effectiveness of tariffs and prevent circumvention by targeting a wider range of products.