Europe’s next-gen capital markets are powered by Polygon.BeToken marks the first fully regulated tokenized security token offering in Spain and among the first in the European Union.And it’s all built on Polygon PoS.Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal):Ecosystem Announcement 🚢Spain just made European tokenization real and it’s all happening on Polygon PoS.And we just found out about it 😅@Betoken_io, launched by Beself Brands, is now the first fully regulated euro-denominated tokenized i ...

Global financial firms Goldman Sachs and BNY Mellon are working together on a tokenized money market product. https://t.co/mk98d7tH28 ...

RT leopastel.eth ꓽꓽ) (@pastelETH)honestly i don’t think “music nfts failed”….as long as crypto people exist, you can tokenize your music and find an audiencemy most recent drop had 30,000 sales and i will be rolling out my new EP onchainfind the right channels and you can succeed https://t.co/7OIN53FaA5 ...

The tokenization of private market assets, like @OpenAI pseudo-equity, is the best possible marketing for unencumbered collateral assets like ETH, SOL, etc.Expect 100x more mentions of ”economic bandwidth” for L1 assets. ...

Financial Data and Key Metrics Changes - CME Group generated revenue of $1,700,000,000, up 10% from the second quarter in 2024 [12] - Adjusted operating income reached a record $1,200,000,000, up 14% year over year [12] - Adjusted net income was $1,100,000,000, with adjusted diluted earnings per share at $2.96, both up 16% from the previous year [13] - Average daily volume exceeded 30,200,000 contracts, representing a 16% increase compared to the same period last year [7][8] - Adjusted operating margin improved to 71%, up from 69.1% in the same period last year [13] Business Line Data and Key Metrics Changes - Financial products volume grew by 17%, while commodity sector volume increased by 15% [8] - Record quarterly volume from international business averaged 9,200,000 contracts per day, up 18% from the prior year [9] - Retail trading saw over 90,000 new participants, a 56% increase year over year, contributing to a record average daily volume of 4,100,000 contracts in Micro products [10][39] Market Data and Key Metrics Changes - EMEA region recorded a 15% increase in average daily volume, while APAC saw a 30% increase [9] - The strong growth in open interest was up by 7% from the end of Q2 2024 and 10% from year-end 2024 [8] Company Strategy and Development Direction - CME Group is focusing on retail traders and expanding partnerships with new online brokers to meet increasing demand [9][39] - The company announced a ten-year extension of its exclusive license to offer futures and options on NASDAQ indexes, ensuring continued access to these products [10][11] - CME Group is exploring tokenization technology in partnership with Google, aiming to enhance market efficiencies [76][78] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of markets amid global uncertainties, including geopolitical tensions and rising debt levels [20][22] - The company anticipates continued demand for risk management products, although predicting specific volume levels remains challenging [19][22] - Management expressed optimism about the retail segment's growth and the potential for further participation across various asset classes [31][32] Other Important Information - CME Group's adjusted effective tax rate was 23.3% for the quarter [13] - Capital expenditures for the second quarter were approximately $19,000,000, with cash at the end of the quarter totaling $2,200,000,000 [13] Q&A Session Summary Question: What are the key drivers that can sustain strong hedging activities going into the second half? - Management noted the difficulty in predicting volumes but emphasized the ongoing global risks that necessitate risk management [19][20] Question: Can you discuss the recent take-up of retail traders and their trading behavior? - Management reported unprecedented growth in retail participation and expressed confidence in continued engagement across various asset classes [30][39] Question: How is the company thinking about capital deployment given the cash balances? - Management indicated a balanced approach to capital deployment, focusing on opportunistic buybacks and maintaining a variable dividend structure [52][54] Question: How have tariffs impacted the physical commodities business? - Management noted that tariffs have led to market dislocations, increasing trading activity and volumes across various client segments [60][61] Question: Can you provide an update on FX Spot Plus and its impact? - Management reported strong initial uptake with significant daily volumes and new participants, enhancing market quality [110] Question: What are the company's views on stablecoins and tokenization? - Management is optimistic about the potential efficiencies from tokenization and is actively working on partnerships to implement these technologies [76][78]

Financial Data and Key Metrics Changes - CME Group generated revenue of $1,700,000,000, up 10% from Q2 2024 [10] - Average rate per contract for the quarter was $0.69, resulting in the highest quarterly clearing and transaction fees of $1,400,000,000, up 11% year over year [10] - Adjusted operating income reached a record $1,200,000,000, up 14% year over year, with an adjusted operating margin of 71%, up from 69.1% in the same period last year [11] - Adjusted net income was $1,100,000,000, and adjusted diluted earnings per share were $2.96, both up 16% from the previous year [11] - Capital expenditures for the quarter were approximately $19,000,000, and cash at the end of the quarter was $2,200,000,000 [11] Business Line Data and Key Metrics Changes - Average daily volume (ADV) for the quarter was 30,200,000 contracts, a 16% increase year over year, with records in interest rates, agricultural commodities, and metals [4][5] - Financial products volume grew by 17%, while commodity sector volume grew by 15% [5] - International business had an ADV of 9,200,000 contracts per day, up 18% from the prior year, with EMEA up 15% and APAC up 30% [6] - Over 90,000 new retail traders participated in CME markets for the first time, a 56% increase compared to the same period last year [6] Market Data and Key Metrics Changes - Open interest increased by 7% from the end of Q2 2024 and 10% from year-end 2024 [5] - Nasdaq 100 futures and options trading volume climbed to more than 2,500,000 contracts per day, up 22% versus last year [7] - Record activity in gold and crypto markets, with gold up over 37% among retail and micro Bitcoin up 94% [40] Company Strategy and Development Direction - CME Group focuses on expanding its retail trader base and enhancing market access through partnerships with new futures brokers [6][39] - The company is optimistic about the growth of its crypto franchise and plans to continue participating in that market [33] - CME Group announced a ten-year extension of its exclusive license to offer futures and options on NASDAQ indexes, ensuring continued access to these products [8][9] Management's Comments on Operating Environment and Future Outlook - Management highlighted the resilience of markets amid global uncertainties, including record levels of debt and geopolitical tensions [18][20] - The company anticipates continued demand for risk management products due to macroeconomic factors [20] - Management expressed optimism about the retail segment's growth and the increasing sophistication of new traders [29][30] Other Important Information - CME Group's adjusted effective tax rate was 23.3% [11] - The company paid dividends of $455,000,000 in Q2 and approximately $3,000,000,000 over the first half of the year [11] - CME Group's total adjusted operating expenses for the year are expected to be approximately $1,635,000,000, which is $15,000,000 below prior guidance [12] Q&A Session Summary Question: What are the key drivers that can sustain strong hedging activities going into the second half? - Management noted the difficulty in predicting volumes but emphasized the need for risk management due to global uncertainties, including high debt levels and geopolitical unrest [17][20] Question: Can you discuss the recent take-up of retail traders and their trading behavior? - Management reported a significant increase in new retail traders and expressed confidence in their continued participation across various asset classes [27][29] Question: How is the company thinking about capital deployment given the cash balances? - Management stated that capital deployment strategies remain opportunistic, balancing buybacks and dividends based on market conditions [51][53] Question: Can you discuss the impact of tariffs on the physical commodities business? - Management indicated that tariffs are leading to market dislocations, creating opportunities for increased trading activity across various client segments [58][60] Question: What is the status of the trial with former floor traders? - Management refrained from commenting on pending litigation but confirmed no accruals have been made for potential damages [90] Question: What are the hurdles for bringing 24/7 trading to the marketplace? - Management acknowledged the costs associated with staffing for 24/7 trading and indicated that demand will dictate the feasibility of such an initiative [96][100] Question: How has the FX Spot Plus product performed since its launch? - Management reported strong initial performance with significant trading volume and participation from new entities, enhancing market quality [107][109]

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

💥BREAKING:🇺🇸 SEC MEETS WITH CITADEL SECURITIES TO DISCUSS TOKENIZATION. https://t.co/UXJaLHWMWX ...

ICYMI: the largest deed tokenization project in U.S. history is using Avalanche.@balconytech is bringing $240B in real estate on-chain to its own L1, modernizing property records across New Jersey with the help of @AvaCloud. https://t.co/2zaZRpwQFo ...

USTB offers Qualified Purchasers access to tokenized short-duration U.S Treasuries.USCC offers Qualified Purchasers access to a tokenized fund representing returns from crypto basis trade strategies.More from the @superstatefunds team: https://t.co/CM1VRlZFXP ...