Global derivatives trading sank 37% in March as India's dramatic slowdown in equity options activity dragged down volumes despite strong US performance, FIA data shows. NSE volumes fell 70% year-over-year after the Securities and Exchange Board of India imposed curbs to curb retail speculation, disrupting nearly half the global market.

Hidden Road has secured FINRA broker-dealer approval, expanding its fixed income prime brokerage capabilities just weeks after its $1.25 billion acquisition by Ripple. The move paves the way for broader institutional services ahead of Hidden Road's integration into Ripple's digital asset infrastructure.

DraftKings has withdrawn its application for a derivatives license, backing away from federally regulated prediction markets like those run by rival Kalshi. "DraftKings continues to monitor developments related to prediction markets as an emerging product that reflects evolving consumer engagement and warrants thoughtful consideration," a spokesperson for the company said.

US President Donald Trump's tariff policies have triggered chaos in foreign exchange options markets, as hedge funds rushed to short the dollar and dealers struggled to manage sudden spikes in volatility. On April 11, EUR/USD trades were more volatile than Turkish lira pairs, leaving even seasoned traders stunned.

Euronext looking to deepen its ties with Europe's retail trading community through localized broker relationships and upcoming mini government bond futures, its first foray into fixed income derivatives. With strategic launches like mini-stock options and daily FTSE MIB options, the exchange is positioning itself to compete globally while tailoring products to retail needs.

China has stopped importing US liquefied natural gas since early February after new tariffs made shipments uneconomical, signaling how trade tensions have now disrupted energy flows. The decision may strengthen China's ties with Russia and cast doubt on the future of long-term US LNG export projects to the country.

The US Federal Reserve has proposed changes to stress tests for major banks, including averaging results over two years and delaying the stress-capital buffer requirement's effective date to Jan. 1. Governor Michael Barr criticized the changes, saying they could give a false sense of security, while Governor Adriana Kugler expressed concern about reduced sensitivity to current economic conditions.

Treasury Secretary Scott Bessent is leading private meetings with the Federal Reserve and other banking agencies to streamline oversight and ease regulation. These efforts follow a February executive order from President Donald Trump aimed at tightening White House control over bank supervision. Bessent has emphasized coordination among regulators without consolidating agencies, but former Fed attorney Jeremy Kress has described the Treasury's actions as a "power grab" that could politicize financial regulation.

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