Market Infrastructure

New York – November 03, 2026 -- The National Futures Association (NFA) has approved Polymarket's PM Derivatives, LLC to operate as a Futures Commission Merchant (FCM) on a fully collateralized basis, completing the three core components of Polymarket's U.S. derivatives infrastructure.

Approval adds a broker to Polymarket's exchange and clearinghouse

Polymarket now runs an exchange, QCX LLC (d/b/a Polymarket US), a clearinghouse, QC Clearing LLC, and a broker, PM Derivatives. Polymarket US operates as a CFTC-regulated designated contract market under the Commodity Exchange Act.

FCM status lets PM Derivatives hold customer funds under CFTC and NFA oversight

The authorization allows PM Derivatives to accept and carry customer orders and funds as a broker. Polymarket says this gives it an additional regulated pathway to work with distribution partners and to enter jurisdictions that require a regulated broker.

Philadelphia – November 02, 2026 -- The U.S. Commodity Futures Trading Commission (CFTC) has registered Sporttrade as both a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO), allowing the Philadelphia-based platform to run a regulated sports event contract exchange and its own clearing house.

Dual registration opens the exchange to intermediated flow

Sporttrade says the status lets it support intermediated activity through Futures Commission Merchants (FCMs). It will also serve direct access participants, Introducing Brokers (IBs) and Independent Software Vendors (ISVs). Through its DCO, it can clear for other DCMs. The company contrasts this with many recent registrations, which it says do not offer the same scope.

European Union – October 27, 2026 -- The EU will switch to T+1 settlement on 11 October 2027, and the European Securities and Markets Authority (ESMA) says the regulatory framework is now complete. ESMA is calling on market participants to finalise technical preparations, assess readiness across their entire ecosystems and start testing across the trading and settlement chain as soon as possible.

First compliance deadline for allocations and confirmations falls on 7 December 2026

Investment firms and their clients must comply with the new allocation and confirmation requirements from 7 December 2026. From that date, the amended RTS on Settlement Discipline makes two things mandatory:

- electronic, standardised communication channels and international messaging standards;
- machine-readable communication methods, except during temporary technical disruptions.

New York – October 08, 2026 -- DoubleZero Foundation has added Binance's full spot and futures market data to its Edge platform, making the exchange the first centralized venue and fifth overall data source on the network. Binance joins Solana, Kalshi, Hyperliquid, and Phoenix on the same multicast feed, delivered over DoubleZero's dedicated fiber infrastructure.

Binance becomes first centralized exchange integrated into Edge's multicast feed

Edge now normalizes top-of-book and trade data across all symbols on Binance's spot and futures markets, ingested in Tokyo and distributed via dedicated fiber. The data is formatted to the same schema used for the platform's other four venues, allowing trading teams to deploy code written for one market across all five without rebuilding integrations.

New York – September 29, 2026 -- DoubleZero Foundation has integrated Phoenix, Solana's native perpetuals exchange, into its Edge market-data platform, cutting data delivery latency by more than 750 milliseconds for traders accessing the Solana perps order book.

Phoenix becomes the third perpetuals venue on DoubleZero Edge

Built by Ellipsis Labs, Phoenix joins Kalshi crypto perpetual futures, added in August 2026, and Hyperliquid perps, added earlier this month, on the Edge network. Trading firms can now pull market data from all three venues through a single connection rather than building separate infrastructure for each.

DoubleZero launched two new Phoenix feeds: top-of-book and trades, and market-by-price data, covering all Phoenix perps markets.

New York – September 15, 2026 -- DoubleZero Foundation has added Kalshi's Elections and Politics markets to its DoubleZero Edge platform, extending low-latency order book delivery beyond the sports and crypto contracts it already carries for institutional and automated traders.

Midterm prediction market volume already exceeds the full 2024 cycle

More than $133 million had traded on U.S. House and Senate race contracts across major platforms as of mid-August, surpassing total volume for the 2024 congressional cycle, according to DoubleZero. The 2026 midterms are set for November 3, and the company says volume tied to the election has continued to climb since that August tally.