IN FOCUS

Deeper analysis of the forces reshaping FMIs.

Thematic and event-driven analysis when a development warrants more than Tape treatment, or when several developments form a meaningful trend.

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LATEST ANALYSIS

Editorial depth, not volume

WRAPPING UP THE WEEK
First FMI Publication Date: 2 October 2026

The next market share contest runs through clearing and payments

Winning more market activity depends on the cost and reliability of the whole transaction.

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LEAD ANALYSIS
First FMI Publication Date: 24 August 2026

The FSB’s October programme will test global policy coordination

The Financial Stability Board’s 2026 programme brings several system-wide policy streams toward a concentrated October delivery point, testing whether global coordination can keep pace with artificial intelligence, digital assets, nonbank finance, cross-border payments and operational concentration.

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October 2, 2026

ESG indices enter a more selective phase of growth

A FTSE Russell–SGX paper on Japan opens a wider question: where is sustainable indexing gaining durable use in 2026?

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September 29, 2026

Canada makes routine liquidity part of the Lynx operating model

Canada’s clarification of the Standing Liquidity Facility turns routine central-bank liquidity into an explicit part of the Lynx operating model, reducing stigma without relaxing collateral or participant controls.

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September 29, 2026

Agentic payments shift identity and control into the transaction path

Federal Reserve Governor Christopher Waller’s Sibos speech frames agentic commerce as a payment-infrastructure problem: autonomous transactions will depend on portable identity, consent, liability, fraud and interoperability controls.

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September 27, 2026

Europe’s record CCP buffers shift more loss capacity onto members

Record member-funded default resources at Euronext Clearing and ICE Clear Europe sharpen a structural question for European clearing: how quickly is mutualised member loss capacity growing relative to the capital committed by the CCPs themselves?

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September 20, 2026

Saudi Arabia’s 2025 exit from China-led mBridge is revealed

The Saudi Central Bank completed its mBridge proof of concept in May 2025 and then ceased formal participation. The previously undisclosed departure narrows the known membership of one of the most strategically significant experiments in cross-border central-bank digital-currency settlement.

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September 14, 2026

Cross-product margining moves into the clearing stack

Eurex has begun portfolio-margining foreign-exchange futures and options against eligible fixed-income derivatives, turning cross-product collateral efficiency from a design objective into a live clearing proposition.

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August 24, 2026

The FSB’s October programme will test global policy coordination

The Financial Stability Board’s 2026 programme brings several system-wide policy streams toward a concentrated October delivery point. For financial market infrastructures, the strategic issue is whether global coordination can keep pace with artificial intelligence, digital assets, nonbank finance, cross-border payments and operational concentration.

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August 20, 2026

Europe’s CSD competition is moving from policy debate to operating model

Euronext’s 21 September 2026 settlement-model change provides a practical test of whether European post-trade consolidation can coexist with genuine central securities depository choice.

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