A coalition of leading global financial trade associations has sent a joint letter to the Basel Committee on Banking Supervision, urging a pause and recalibration of 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.

Repo market participants are urging regulators to exclude special collateral repo from discussions on mandatory minimum haircuts. Andy Hill, co-head of market practice and regulatory policy at the International Capital Market Association, warns that including specials could lead to misguided regulation because specials often have zero or negative haircuts due to the unique nature of the collateral involved.

South Korea plans to extend operating hours for transaction settlement systems at the Bank of Korea and Korea Securities Depository starting in April 2026, to facilitate access for foreign investors. The central bank's hours will be 9 a.m. to 8 p.m., instead of 9 a.m. to 5:30 p.m. This move is part of efforts to upgrade the domestic stock market to developed-market status by Morgan Stanley Capital International.

The global securities lending market is projected to grow from $10.5 billion in 2024 to $16 billion by 2031, driven by expanding financial markets and technological advancements, according to a study by HTF Market Intelligence. The study highlights Asia-Pacific as the fastest-growing region and notes that technology is streamlining lending processes, although challenges include regulatory fragmentation and counterparty risk.

Pirum has appointed Ben Challice as CEO, tasking him with accelerating the adoption of the Complete Lifecycle offering and developing next-generation technologies. Challice, who brings 25 years of industry experience, rejoined Pirum last year as president and chief of strategy, having previously worked at JPMorgan and Nomura.

A Coalition Greenwich report reveals that 68% of buy-side traders prioritize customer service and desk coverage when selecting brokers for high-touch trades, despite the rise of electronic execution. The report also highlights challenges such as execution quality, commission management, and operational issues, emphasizing the need for brokers to build strong relationships to gain a competitive edge.

Clearstream has reported an 18% year-over-year increase in global securities financing volume outstanding for July, reaching €833.79 billion. Assets under custody rose 9% to €20.48 trillion. Investment fund services also saw significant growth, with securities deposits up 10% and transaction volume up 18%.

The European Central Bank has issued guidelines on cloud services that exceed the requirements of the Digital Operational Resilience Act, which took effect this year. The guidelines require banks to use multiple data centers in different locations, posing challenges for banks that already have amended contracts to comply with DORA.

Most market participants have identified necessary changes ahead of the UK's transition to a T+1 settlement cycle in October 2027, according to a poll by the Financial Conduct Authority. The FCA has expressed support for the transition, highlighting the importance of automation and warning it will take action if firms are unprepared.

Derayah Financial, a digital investment platform based in Saudi Arabia, has joined the International Securities Lending Association. Derayah operates the first mutual fund supermarket in Saudi Arabia and the Middle East, and Derayah's values align with ISLA's mission to promote best practices in securities financing.