Core Insights - Bitget has launched a significant upgrade to its mobile application, providing a unified interface for 120 million users to access cryptocurrency, tokenized stocks, on-chain assets, and traditional financial markets [2][12] Group 1: Application Upgrade - The updated application features a consolidated market overview, allowing users to view various asset categories without switching pages, thus reducing operational friction when managing diversified portfolios [5][11] - The stock section has been redesigned for clearer market context and faster decision-making, supporting over 100 on-chain stock tokens and more than 30 mainstream stock futures [6][11] Group 2: Trading Features - Users can trade forex currency pairs, precious metals, commodities, and major indices using USDT as margin, with leverage options up to 500 times for certain tools [11] - The upgrade aims to simplify the trading process across cryptocurrency, tokenized stocks, and traditional markets, addressing fragmentation in modern trading workflows [11][12] Group 3: Strategic Vision - The latest upgrade aligns with Bitget's UEX strategy, focusing on unified access across asset classes, continuous market availability, and capital efficiency [12] - Bitget continues to enhance its multi-asset trading infrastructure, with plans for further feature upgrades and market expansion [12][13]

Core Viewpoint - Bitget, the world's largest panoramic exchange (UEX), has launched a comprehensive mobile app upgrade aimed at enhancing multi-asset trading experiences for its 120 million users [2]. Group 1: App Upgrade Features - The updated app introduces a unified interface that allows users to access cryptocurrencies, tokenized stocks, on-chain assets, and traditional financial markets through a single navigation process [2][5]. - Users can now view asset performance metrics, portfolio values, and market snapshots in a consolidated layout, reducing operational friction when managing diversified portfolios across multiple markets [5]. - The stock section has been redesigned to provide clearer market context and faster decision-making support, allowing direct access to industry-based views, real-time price changes, trending stock themes, and an integrated earnings calendar [5]. Group 2: Trading Capabilities - The platform currently supports over 100 types of on-chain stock tokens and more than 30 mainstream stock futures, enabling users to trade shares of leading global companies like Apple, Tesla, Nvidia, and Alphabet using USDT without traditional brokerage account requirements [5]. - A flexible margin model and leverage of up to 25 times support various trading strategies while ensuring consistent capital management across asset classes [5]. - The newly introduced TradFi section allows users to trade forex currency pairs, precious metals, commodities, oil, and major indices using USDT as margin, with leverage options up to 500 times [9]. Group 3: Strategic Goals and Future Plans - This upgrade aligns with Bitget's UEX strategy, which focuses on unified access across asset classes, continuous market availability, and capital efficiency [10]. - As Bitget continues to enhance its multi-asset trading infrastructure, further feature upgrades and market expansions are expected in the future [10].

Sberbank is exploring crypto-secured lending as Russia’s financial sector accelerates its push into digital assets ahead of the country’s mid-2026 regulatory deadline. Deputy Chairman Anatoly Popov told TASS the bank stands ready to collaborate with regulators on developing infrastructure for such services, potentially expanding Russia’s crypto ecosystem beyond trading into collateralized finance. The announcement builds on Sberbank’s broader digital asset strategy, which has already produced over 160 t ...

Company Performance - CBOE has experienced relative underperformance compared to other exchanges and the financial sector despite strong earnings [2][4] - The stock's underperformance may be attributed to full positioning and market sentiment rather than a specific identifiable reason [4][5] - Morgan Stanley has reiterated an underweight rating on CBOE, indicating a cautious outlook [5] Market Outlook - The environment for CBOE is expected to improve in 2026, with a belief that volatility will increase significantly even in a bull market [3][5] - The current VIX is near a low for the year, below 15, suggesting potential for increased market activity [2] Comparisons with Other Companies - CME Group and NASDAQ have received reiterated overweight ratings, with target prices set at 320 and 111 respectively, indicating a more favorable outlook compared to CBOE [6] - Schwab's performance is driven by different factors, such as cash balance sweeps, and is not directly comparable to the exchanges like NASDAQ and CME [6][7] - NASDAQ is highlighted as a strong performer benefiting from IPOs and increased trading activity, positioning it as a "crown jewel" among the group [8]

Core Viewpoint - Cboe Global Markets congratulates Michael Selig on his confirmation as Chairman of the CFTC, emphasizing his experience and balanced regulatory approach as vital for the evolving derivatives markets [1] Group 1: Company Response - Cboe expresses eagerness to collaborate with the CFTC to enhance market resilience and improve the investor experience [1] - The company acknowledges the leadership of Acting Chairman Caroline Pham and wishes her success in future endeavors [1] Group 2: Company Overview - Cboe Global Markets is recognized as the world's leading derivatives and securities exchange network, providing advanced trading, clearing, and investment solutions globally [2] - The company offers trading solutions across various asset classes, including equities, derivatives, and FX in North America, Europe, and Asia Pacific [2] - Cboe is committed to fostering a trusted and inclusive global marketplace for sustainable financial futures [2]

Core Insights - Nasdaq raised a total of $46.65 billion from new listings in 2025, marking the highest capital raised since 2021 [1][5] - 22 companies transferred their corporate listings to Nasdaq in 2025, including Walmart, representing the largest exchange transfer in history with a total market value of $1.2 trillion [1][5] Capital Market Performance - 2025 was a significant year for public markets, with companies at various stages choosing Nasdaq for its global visibility and commitment to innovation and growth [2] - Nasdaq's European markets contributed to over half of all capital raised in Europe in 2025, including the public debut of Verisure, Europe's largest IPO since 2022 [5] Notable Listings - Major listings included Medline, which was the largest overall IPO and healthcare IPO of the year, raising over $6 billion, and CoreWeave, the largest AI IPO of the year [5] Listing Transfers - Since 2005, Nasdaq has attracted more than 500 listing transfers, representing over $4 trillion in market value [5] Strategic Initiatives - Nasdaq announced plans to launch Nasdaq Texas, a dual listing venue aimed at expanding services for companies in Texas and creating new growth opportunities for U.S. investors [5] - Nasdaq is actively involved in regulatory reform, hosting discussions with leaders from the public and private market ecosystem to address challenges and opportunities in the public market [5]

The Hong Kong stock exchange has proposed standardising board lot sizes, reducing the number of trading units from more than 40 to eight options in a bid to boost market efficiency and liquidity. Bourse operator Hong Kong Exchanges and Clearing (HKEX) was proposing to limit the choices listed companies make regarding their trading unit size, or board lot, from one share to a maximum of 10,000 shares, according to a consultation paper published on Thursday. The options in between are: 50, 100, 500, 1,000, ...

Core Viewpoint - Hong Kong Exchanges and Clearing (HKEX) has revised its post-listing public float rules to enhance capital management flexibility for companies while improving market transparency [1][3]. Group 1: New Public Float Rules - Listed companies can now meet an alternative ongoing public float threshold of at least 10% of issued shares with a market value exceeding HK$1 billion (approximately US$128.5 million) [1][2]. - For mainland China-listed firms, their Hong Kong shares must represent at least 5% of total issued shares or have a market value of at least HK$1 billion [2]. Group 2: Implementation and Impact - The new requirements will take effect on January 1, 2026, following a two-month consultation that garnered 43 responses [3]. - Current regulations require issuers to maintain at least 25% of their issued shares held by the public, with a potential lower float of 15% to 25% for companies with a market capitalization above HK$10 billion at listing [4]. Group 3: Market Liquidity and Competitiveness - The reforms are anticipated to enhance market liquidity and attract high-quality companies, thereby strengthening the competitiveness of Hong Kong's capital markets [5]. - The tiered public float structure is expected to provide issuers with greater flexibility, supporting large-cap companies and A+H share listings in Hong Kong [6]. - Companies will be able to adjust their equity structures more efficiently in response to market conditions, offering much-needed flexibility in capital management [7].

Core Insights - Magellan Global Fund focuses on investing in outstanding companies at attractive prices while managing risk through a deep understanding of the macroeconomic landscape [1] - In Q3 2025, global equities rose by 7.3% as measured by the MSCI World Index in USD, but the fund underperformed due to strong performance from more speculative companies [1] Company Highlights - CME Group Inc. (NASDAQ:CME) is highlighted as a core defensive holding within the Magellan Global Fund, operating as the world's leading derivatives marketplace [3] - CME Group Inc. reported a revenue of $1.5 billion in Q3 2025, which represents a 3% decline from the previous year's strong performance [4] - The one-month return for CME Group Inc. was -2.54%, while its shares gained 15.34% over the last 52 weeks, closing at $272.18 per share with a market capitalization of $98.148 billion [2][4] Market Position - CME Group operates a diversified exchange business across major asset classes, including interest rates, equities, foreign exchange, and commodities, providing a natural hedge during market volatility [3] - At the end of Q3 2025, CME Group was held by 77 hedge fund portfolios, an increase from 75 in the previous quarter [4]

Nasdaq has asked the Securities and Exchange Commission to approve trading sessions outside traditional market hours as it tries to capitalize on growing global demand for US stocks. Read more: https://t.co/OYQk8CTbGX📷️: Michael Nagle/Bloomberg https://t.co/gLDQMJkZzQ ...