The derivatives industry is progressing toward 24/7 trading and clearing, but a roundtable summary by FIA shows that significant obstacles remain, particularly in clearing systems and collateral infrastructure. Discussions at FIA Boca highlighted the growing demand for continuous trading, driven by younger investors and digital asset markets, but also emphasized the need for advancements in operational workflows, cybersecurity and real-time collateral movement.

The Commodity Futures Trading Commission has proposed updates to mandatory clearing rules for interest rate swaps to reflect a shift to overnight risk-free rates in the Canadian dollar and Mexican peso markets. The proposal would remove clearing requirements for swaps referencing the Canadian Dollar Offered Rate and the Interbank Equilibrium Interest Rate and would instead require clearing for overnight index swaps referencing the Canadian Overnight Repo Rate Average and the Overnight TIIE Funding Rate.

Jane Street reportedly generated a record $16.1 billion in first-quarter trading revenue, driven by heightened market volatility and strong performance in its quantitative trading strategies, according to people familiar with the results. Profit more than doubled to $10.3 billion as the firm also benefited from gains tied to investments in AI companies such as Anthropic and CoreWeave, sources say.

Euronext has reported a 10.7% decrease in derivatives trading volume for April compared with a year ago, with average daily volume at 679,826 contracts. Equity derivatives dropped 14.6% because of reduced hedging, while commodity derivatives rose 7.4%.

The Indian derivatives market is expanding as a broader range of investors, including social impact funds and domestic insurers, enter the market. Nomura's Sunny Mallick highlights the role of algorithmic trading and technologies such as artificial intelligence in enhancing trading accuracy and risk management. Recent regulatory measures are aimed at reducing speculation and protecting retail investors, while innovations such as zero-day-to-expiry options in GIFT City are expected to further drive growth.

The Taiwan Futures Exchange reported a 14% increase in trading volume in April, driven by a 128% surge in single-stock futures and a 49% rise in single-stock options. However, TAIEX and Nasdaq-100 futures saw significant declines. The exchange recently added three single-stock futures contracts, bringing the total to 316.

George E. Warren LLC has entered Venezuela's oil export market, shipping about 1 million barrels of crude this month, according to a document seen by Bloomberg. The Florida-based trader is challenging established commodity firms Trafigura and Vitol, which have dominated Venezuelan flows since recent US sanctions easing.

BlackRock is planning to launch two tokenized money-market funds designed for investors holding assets in stablecoins, expanding its push into blockchain-based financial products. The funds will invest in short-term US Treasurys and cash instruments, with one structured as a digital share class of an existing fund and another built as a new multi-chain vehicle targeting crypto-native investors.

Banking groups are pushing last-minute changes to a Senate stablecoin bill that would tighten restrictions on yield and rewards, escalating tensions with crypto firms ahead of key committee deliberations. Crypto advocates argue the proposed limits would reduce competition and curb innovation, while lawmakers seek a compromise to advance long-awaited digital asset regulation.

The Securities and Exchange Commission has delayed the launch of 24 exchange-traded funds tied to prediction markets, saying it needs more time to study the products. The move echoes the SEC's approach to spot bitcoin ETFs, which faced years of resistance before approval.

The Securities and Exchange Board of India is reportedly considering allowing limited cash settlements in select agricultural commodity derivatives. The move would mark a shift from the current physical delivery system and could deepen liquidity and participation in the country's farm-linked derivatives markets.