The framework, developed by FIX’s post-trade committee, sets a standard message format for asset managers to request and receive margin requirements from clearing brokers and swap providers.
The agreement deepens an existing relationship between the two firms, as demand grows among top-tier managers for prime brokerage across traditional and digital assets.
Coinbase Clearing will support USDC collateral and 24/7 settlement, and completes the firm’s CFTC-regulated derivatives infrastructure, which also includes a futures commission merchant (FCM) and derivatives exchange.
The expansion covers local-to-local trading and post-trade workflow; GIB Capital and Saudi Awwal Bank executed the first transaction.
The implementation is expected to come into effect in Q1 2028; Cboe Clear Europe will also serve as CCP partner for the Icelandic equity market.
The post-trade infrastructure provider has added a new capability aimed at resolving timing mismatches in FX valuations.
The move integrates ION’s XTP platform – which went live with event contracts in April 2026 – and will allow clients “to connect Kalshi very seamlessly into their existing platforms,” ION’s Samuel Shorthouse tells The TRADE.
AutoFX will embed FX execution directly into the settlement process, automatically sourcing the currency needed to settle a trade.
The French bank joins a consortium of global banks investing in the post-trade infrastructure provider.
UK Accelerated Settlement Taskforce chair Andrew Douglas says the UK’s second-mover advantage should not lead firms to underestimate the work required, as T+1 is increasingly being viewed as an opportunity to redesign the back office.