OKX and NYSE Parent ICE Joint Venture Files for 24/7 Tokenized US Stock Trading
A 50/50 joint venture between OKX and ICE, the parent company of the New York Stock Exchange, has filed to launch 24/7 tokenized US stock trading under the SEC's proposed five-year innovation exemption, the first major attempt by anyone to use that exemption. The initial list will have 63 stocks, including Strategy, Apple, Nvidia, Coinbase, Robinhood, Circle and major banks. Trading would run continuously, 24/7 365, through Uniswap liquidity pools on OKX's X layer and in USDC, USDG and USDT pairs, with users holding assets in self-custodial wallets subject to identity verification, AML and KYC. Unlike Robinhood-style representations, the tokens must be backed one for one by an actual share held through a registered broker dealer, and investors would receive dividends and voting rights just like on any stock. Companies have 30 days to object to having their stock tokenized.
ICE · Regulation · Positive ICE's NYSE-parent forms a 50/50 JV with OKX that filed to launch 24/7 tokenized US stock trading under the SEC's proposed five-year innovation exemption.
OKX · Regulation · Positive OKX's 50/50 JV with ICE filed to launch 24/7 tokenized US stock trading under the SEC's proposed five-year innovation exemption, with trading on OKX's X layer.
Visa Expands Stablecoin Settlement to Nine Blockchains as Volume Tops $20 Billion Run Rate
Visa is expanding its stablecoin infrastructure across nine blockchains and now supports more than 160 stablecoin-linked card programs, with payment volume up nearly 200% year over year. In fiscal 2026 year to date, about 17% of Visa's stablecoin-linked card volume came from business and commercial card programs, and its stablecoin settlement volume has crossed a $20 billion annualized run rate, up more than 15-fold from a year ago. The company launched the Visa Stablecoin Platform, introduced an onchain credit model in September 2026 that uses VisaNet settlement data, and expects its partnership with Bridge to take stablecoin-linked cards to more than 100 countries. Visa's Value-Added Services revenues rose to $3.8 billion in the third quarter of fiscal 2026 from $2.8 billion a year earlier, while processed transactions rose 10% year over year to 71.7 billion. Net cash provided by operating activities totaled $16.3 billion in the first nine months of fiscal 2026, free cash flow reached $15.2 billion, and Visa returned $6.2 billion in the third quarter through dividends and share repurchases, including $4.9 billion of buybacks, with $28.4 billion still available under its repurchase authorization as of June 30, 2026.
V · Capital · Positive Value-Added Services revenue rose to $3.8B from $2.8B, with $6.2B returned via dividends and buybacks in Q3.
V · Demand · Positive Visa's stablecoin-linked card programs and settlement volume grew sharply, with volume up nearly 200% YoY and a $20B annualized settlement run rate.
Bridge · Demand · Positive Visa expects its partnership with Bridge to take stablecoin-linked cards to more than 100 countries.
Morgan Stanley Builds Bitcoin ETF Stake With Steady Buying Streak
Morgan Stanley is making a mark in the Bitcoin ETF market as it has maintained a long streak of steady Bitcoin purchases regardless of the unstable market conditions. The bank's Bitcoin stash is piling up, with a $1 Billion milestone now in view. The buying has continued through unstable market conditions, underscoring the firm's persistent accumulation of Bitcoin ETF exposure.
Houlihan Lokey Hires Jane Ma as Managing Director in Financial Services Group
Houlihan Lokey has hired Jane Ma as a Managing Director in its Financial Services Group, based in New York. Ma joins from Moelis & Company, where she spent 16 years and most recently served as a Managing Director covering asset management, wealth management, and asset and wealth management technology. Her coverage at Houlihan Lokey will focus primarily on alternative asset managers, with additional time dedicated to wealth management services and asset and wealth technology. Jeffrey Levine, Managing Director and Global Co-Head of the Financial Services Group, said Ma's background in the asset and wealth management sectors enhances the firm's existing advisory capabilities. In 2025, Houlihan Lokey's Financial Services Group was ranked the No. 1 M&A advisor for global financial services transactions under $5 billion by LSEG, excluding accounting firms and business brokers.
Fannie Mae Tender Offer Draws $1,026 Million in CAS Notes
Fannie Mae announced the results of its fixed-price cash tender offers for any and all of certain Connecticut Avenue Securities Notes, with a total of $1,026 million in original principal amount validly tendered and not validly withdrawn by the Expiration Time of 5:00 p.m. New York City time on October 2, 2026. The offers covered eight classes of CAS Notes across seven trusts, with tendered percentages ranging from 2.98 percent of the Series 2023-R02 Class 1M-1 Notes to 98.80 percent of the Series 2023-R01 Class 1M-2 Notes. The largest single class tendered was the Series 2023-R04 Class 1M-1 Notes, with $281,319,946 of a $377,100,000 original principal balance, or 74.60 percent. The tendered amount includes $18,775,847 of Notes submitted using the Notice of Guaranteed Delivery. Settlement for accepted Notes is expected on Tuesday, October 6, 2026, while Notes tendered via the Notice of Guaranteed Delivery are expected to be purchased on Wednesday, October 7, 2026. BofA Securities acted as designated lead dealer manager and Citigroup Global Markets acted as designated dealer manager, with Global Bondholder Services Corporation as tender agent and information agent.
0IL0.LSE · Capital · Neutral Fannie Mae's fixed-price cash tender offer for $1,026 million of CAS Notes is a capital/liability-management event with no clear directional impact.
Venmo Credit Card Adds Split-to-Earn Feature With Up to 4% Cash Back
Venmo announced an industry-first split-to-earn feature for its Venmo Credit Card that raises cash back on dining and entertainment to as much as 4%. Beginning October 15th, customers who open a new Venmo Credit Card earn 3% cash back automatically on eligible dining and entertainment purchases, plus an additional 1% when they split those purchases with friends on Venmo in the app and are paid back within 30 days. The card, issued by Synchrony on the Visa network, carries no annual fee, no foreign transaction fees, and no limits on daily cash back, which is deposited daily into the cardholder's Venmo account. The rewards structure also pays 3% cash back for paying with Venmo at checkout, at small businesses with a Venmo business profile, and on person-to-person payments for goods and services, and 1% on all other purchases. Alexis Sowa, General Manager of Venmo, said the company built split-to-earn around how customers actually live and spend with friends, adding that the more you do with Venmo, the more you should get back.
Cboe Extends Exclusive SPX Options License With S&P DJI Through 2051
Cboe Global Markets has extended its exclusive licensing agreement with S&P Dow Jones Indices for another 25 years, through 2051, securing continued trading in S&P 500 Index (SPX) options. SPX options recorded a record 970.6 million contracts in 2025, with average daily volume of 3.9 million contracts, up 25% year over year. Cboe has expanded the SPX product suite with new expirations, structures and products, and the company and S&P DJI may explore products such as tokenized options contracts. Cboe also expects revised royalty terms to begin in 2027, which could increase costs. The stock trades at a forward price-to-earnings multiple of 18.72X, below the industry average of 19.35X, and carries a Zacks Rank #3 (Hold).
LPL Financial Adds Praxis Financial Partners With $1.1 Billion in Assets
LPL Financial LLC announced that Praxis Financial Partners advisors Scott Christian, Cecil Loyd, Jay Gentry and Matt Dion have joined its broker-dealer and Registered Investment Advisor platform, bringing approximately $1.1 billion in advisory, brokerage and retirement plan assets from Wells Fargo Advisors Financial Network. Based in Alpharetta, Georgia, Praxis is a planning-focused wealth management practice serving business owners, corporate retirees, executives and multigenerational families across 24 states, tracing its roots to 2013 when Christian and Loyd launched the firm. The team said it chose LPL after evaluating more than a dozen firms, citing greater flexibility, advanced planning capabilities, access to emerging technology and support for its long-term independence and succession strategy. LPL Chief Growth Officer Marc Cohen said the four advisors had built Praxis with a clear sense of purpose and a disciplined, planning-first approach. LPL Financial Holdings Inc. supports more than 32,000 financial advisors and approximately 1,100 financial institutions, custodying roughly $2.6 trillion in brokerage and advisory assets.
Ares Expands Sabey Data Center Investment Past $500 Million
Ares Secondaries funds have expanded their investment in Sabey Data Center Properties, LLC, bringing their total commitment to more than $500 million. The additional investment builds on Ares' minority equity investment in SDCP announced in July 2026. SDCP owns and operates hyperscale and enterprise data center campuses in top-tier United States markets totaling 275 megawatts, with an expansion pipeline expected to reach approximately 737 megawatts by 2033. Kevin Verdi, Executive Vice President and Chief Investment Officer at National Real Estate Advisors, said the follow-on investment reflects continued conviction in SDCP's long-term value proposition and growth trajectory. Tim Mirick, President of Sabey Data Center Properties, said the additional commitment reflects confidence in the platform's strength and its ability to develop and operate mission-critical infrastructure. Jamie Sunday, Co-Head of Real Estate Secondaries at Ares, said the firm continues to see significant runway for growth.
ARES · Capital · Positive Ares Secondaries funds expanded their investment in Sabey Data Center Properties past $500 million, a capital deployment event for Ares.
Ares Secondaries · Capital · Positive Ares Secondaries expanded its Sabey Data Center investment, bringing total commitment above $500 million.
Sabey Data Center Properties, LLC · Capital · Positive Sabey Data Center Properties received an expanded investment commitment exceeding $500 million from Ares Secondaries.
TeraWulf Expands Muskie Data Campus Power Contract to 1 GW
TeraWulf said Monday it executed an amended and restated electric service agreement with Kentucky Power, an American Electric Power company, raising contracted power capacity at its Muskie Data Campus in eastern Kentucky from 500 megawatts to 1 gigawatt. The amendment moves planned delivery of Muskie's second 500 MW phase forward from 2030 to 2029, while the first 500 MW phase remains targeted to begin ramping in 2028. TeraWulf acquired Muskie in May 2026 for phased development as an AI and high-performance computing campus, and Kentucky Power is developing a 765-kV / 345-kV substation connected to the regional transmission network to serve the site. Chairman and Chief Executive Officer Paul Prager said securing the next 500 MW and moving its planned delivery into 2029 gives the company greater flexibility to meet prospective customers' deployment needs. The company added that it continues to evaluate the campus's potential to support up to 2 GW over time, subject to additional utility planning, infrastructure, and agreements.
WULF · Demand · Positive TeraWulf amended its Kentucky Power agreement to double contracted capacity at Muskie to 1 GW and moved the second 500 MW phase forward to 2029, supporting AI/HPC customer deployments.
Kentucky Power · Demand · Positive Kentucky Power is the counterparty expanding the Muskie electric service agreement to 1 GW and developing the 765-kV/345-kV substation to serve the campus.
AEP · Demand · Positive AEP subsidiary Kentucky Power expands and accelerates a 1 GW electric service agreement for TeraWulf's Muskie campus, growing contracted power demand.
Fiserv Small Business Index Hits 146 as September Sales Rise 2.2%
Fiserv's Small Business Index rose to 146 in September 2026, with small business sales up 2.2% year over year and 0.7% month over month, the strongest annual gain since June, as back-to-school demand lifted retail spending. Average tickets climbed 4.2% year over year while total foot traffic fell for the eleventh straight month, down 2.0% year over year and 0.2% month over month. Total Retail sales rose 3.0% year over year and 1.3% month over month, matching June's high, with transactions up 2.4% and average tickets up 0.5%; Sporting Goods, Hobby and Miscellaneous Retailers gained 5.5% on 6.6% transaction growth, led by a 10.4% increase among Sporting Goods Retailers, and clothing foot traffic rose 6.1% even as average tickets fell 4.7%. Food Services and Drinking Places sales fell 1.0% year over year and 0.2% month over month as transactions declined 3.9%, while Gas Station sales surged 21.1% year over year and 6.0% month over month on a 20.9% rise in average tickets, though inflation-adjusted sales fell 5.0%. Prasanna Dhore, Chief Data Officer at Fiserv, said the results reflect the resilience of consumers and small businesses but also the trade-offs households are making as they manage higher costs.
FISV · Demand · Positive Fiserv's Small Business Index rose to 146 with small business sales up 2.2% YoY, its strongest annual gain since June, driven by back-to-school retail demand.
Kentucky Power and TeraWulf Finalize Deal Doubling Data Center Demand to 1 GW
Kentucky Power has finalized an amended agreement that would double its contracted electric demand with TeraWulf Inc. to 1 gigawatt at the Muskie Data campus in Grayson, Kentucky, up from 500 megawatts. If approved by the Kentucky Public Service Commission, the deal is expected to provide $100 million in winter bill credits funded by TeraWulf for Kentucky Power's residential customers over the first 10 years of the contract, amounting to roughly $25 per month during the winter heating season for a typical residential customer, with credits beginning in 2029. The agreement also advances planned delivery of the second 500-megawatt phase from 2030 to 2029, subject to Commission approval and Kentucky Power's construction schedule. TeraWulf has agreed to pay all applicable service charges plus the estimated financing costs of Kentucky Power's planned 760-megawatt combined-cycle generation facility at Big Sandy, so that costs of serving the added demand are not shifted to existing customers. Kentucky Power, an operating company in the American Electric Power system serving about 163,000 customers in 20 eastern Kentucky counties, plans to file the amended contract and seek related regulatory approvals later this year.
WULF · Demand · Positive TeraWulf finalized an amended deal doubling its contracted power at the Muskie Data campus to 1 GW, enabling expanded data center operations.
Kentucky Power · Demand · Positive Kentucky Power finalized an amended agreement doubling contracted demand with TeraWulf to 1 GW, with TeraWulf funding $100M in bill credits and financing costs.
AEP · Demand · Positive AEP subsidiary Kentucky Power doubles contracted electric demand with TeraWulf to 1 GW, adding a large new customer load.
Northern Trust Names Beth Emswiler and Andrew Borner as Senior Managing Directors in Northeast Region
Northern Trust Wealth Management has appointed Beth Emswiler and Andrew Borner as Senior Managing Directors in the Northeast Region, with Emswiler based in New York and Borner based in Greenwich, Connecticut. The appointments extend Northern Trust's recent hiring momentum in the region, following the expansion of its Family Office Solutions team in New York and the addition of Senior Relationship Managers Gloria Fieldcamp and James Le Rose. Emswiler joins from Citi Private Bank, where she was head of investments for Metro New York and led investment solutions for ultra-high-net-worth clients and family offices, bringing more than three decades of experience across private banking, equities, sales and trading, capital markets and investment advisory. Borner brings more than 30 years of experience and most recently served as BNY's market president for Connecticut and Long Island, where he led new business development and worked directly with individuals, families, trusts and foundations. Northeast Region President Katie Nixon said Emswiler brings considerable investment experience while Borner has spent his career earning the trust of families. Northern Trust Wealth Management had US$534 billion in assets under management as of June 30, 2026.
ICE Launches First VLCC Tanker Freight Futures on TD34 and TD15 Routes
Intercontinental Exchange has launched the first tanker freight futures on the TD34 Gulf of Oman to China and TD15 West Africa to China Very Large Crude Carrier routes, alongside two new cash-settled container freight average price options. The tanker contracts are cash-settled futures based on Baltic Exchange price assessments, designed to let customers hedge those routes as they navigate restricted access through the Strait of Hormuz. The container options, FAN Asia to North Europe and FAW Asia to U.S. West Coast, are indexed to NYSHEX's Freight Indices and build on the equivalent freight futures ICE launched in April 2026. The new contracts extend ICE's freight complex to more than 90 contracts across over 30 global routes spanning wet and container freight, as average daily volume across ICE's freight markets is up 33% year-to-date. Jeff Barbuto, SVP and Global Head of Oil Markets at ICE, said the market can now manage the full chain of risk, the commodity and the cost of moving it, in one place, as events like the disruption at the Strait of Hormuz continue to affect both.
ICE · Technology · Positive ICE launched the first VLCC tanker freight futures on TD34 and TD15 routes plus new container freight options, expanding its freight derivatives complex to over 90 contracts.
NYSHEX · Demand · Positive ICE's new container freight options are indexed to NYSHEX's Freight Indices, driving demand for NYSHEX's index products.
S&P Global Ratings Launches Risk Assessment Service for DeFi Lending
Ratings giant S&P Global Ratings announced on October 4 that it has launched a risk assessment service for DeFi, or decentralized finance, lending operations. The new service, called Vault Risk Assessment, or VRA, provides independent assessments of "vaults" that pool investor funds and lend them out. It offers a forward-looking, relative assessment of the risk that investors' holdings will suffer losses, and unlike ordinary credit ratings, it does not assess yield levels. According to the company, assets under custody in lending vaults reached about 10 billion dollars as of September 2026, expanding roughly 6.7 times over two years from about 1.5 billion dollars in September 2024. VRA examines the credit quality of the assets being managed, mismatches between withdrawal demand and fund recovery, and the risks of the managers who set investment policy, and further evaluates them from six perspectives, including the blockchain, the lending mechanism, and the vault's security and governance. The company already assesses the ability of stablecoins to maintain their price pegs, and with VRA it will address the risk of losses associated with lending operations, aiming to support institutional investors in selecting investments and managing risk.
Mastercard Adds Probability Score to Agentic Commerce Trust Framework
Mastercard announced a probability score for AI-initiated transactions on September 30, positioning the capability inside its Agentic Commerce Trust Framework alongside Cloudflare for web and payment signal feeds and Skyfire for Know Your Agent verification. The probability score adds a second layer to the trust stack that agent commerce requires, evaluating each AI-initiated transaction dynamically to produce a trust score at the moment of execution rather than asking whether a transaction is legitimate. It builds on Skyfire's Know Your Agent framework, which Mastercard integrated earlier this year and which issues credentials and verifies agent identity at the point of transaction, a foundation also pursued by Baselayer, which raised $35 million to build Know Your Agent infrastructure. With the probability score in place, the trust infrastructure for agent commerce now has four visible layers: Know Your Agent identity verification, transaction-level probability scoring, payment execution with guardrails such as Stripe's Agentic Commerce Suite and Visa's Intelligent Commerce, and consumer protection signals that remain nascent and fragmented.
MA · Technology · Positive Mastercard launched a probability score for AI-initiated transactions within its Agentic Commerce Trust Framework, expanding its agentic commerce product capabilities.
NET · Technology · Neutral Cloudflare is named as a partner providing web and payment signal feeds in Mastercard's trust framework, but no specific development of its own is described.
Skyfire · Technology · Neutral Skyfire's Know Your Agent framework is referenced as the identity-verification layer Mastercard integrated, but the article reports no new Skyfire development.
Coinbase CEO Brian Armstrong Cheers Citi Stablecoin Payments Partnership
Coinbase Global CEO Brian Armstrong said Citigroup has partnered with Coinbase to enable stablecoin payments for large institutional clients, calling the tie-up proof the crypto giant "has come a long way" since 2012. Under the partnership, Citi's institutional clients, including multinational corporations, will be able to accept stablecoin payments from customers at checkout through the bank's merchant-processing services, while Coinbase customers can use Citi's banking capabilities and automatically convert incoming cash into stablecoins. Armstrong recalled that getting a bank to work with Coinbase at its founding was "nearly impossible," and thanked Citi for the arrangement. Stablecoins are a key and rapidly growing revenue component for Coinbase, which shares interest income on reserve assets backing USDC with Circle Internet Group and monetizes customer balances on its platform; USDC held in Coinbase products hit an all-time high of $20 billion in the second quarter, more than 30% of all USDC in circulation. Coinbase shares finished Friday down 3.32% at $183.
COIN · Demand · Positive Citi partnership enables stablecoin payments for institutional clients and lets Coinbase customers use Citi banking with auto-conversion to stablecoins, boosting Coinbase's stablecoin business.
C · Demand · Positive Citi partners with Coinbase to let its institutional clients accept stablecoin payments via its merchant-processing services, expanding Citi's payments offering.
CRCL · Demand · Positive Coinbase shares USDC reserve interest income with Circle, and USDC in Coinbase products hit a record $20B, over 30% of all USDC in circulation.
Daiwa says vendor hack may expose data of 110,000 clients
Daiwa Securities said on Monday that information on as many as 110,000 clients may have been leaked following unauthorized access to servers operated by an external vendor. The Japanese brokerage disclosed that Scala Communications had found evidence of unauthorized access and a possible data leak, and said the exposed information includes clients' names, email addresses and securities account numbers. The broader incident may involve about 220,000 records, including records that do not contain information identifying individuals. Daiwa said the leaked information cannot be used to access securities accounts or conduct online trading, that it has not detected any inappropriate transactions linked to the incident, and that its own systems were not breached, with the unauthorized access occurring at the external vendor's servers. Scala notified Daiwa after identifying evidence of the intrusion and has taken emergency security measures, while Daiwa is investigating the incident and assessing the extent of the information that may have been exposed. The incident adds to a growing series of cybersecurity breaches affecting Japanese companies, with Yamato Holdings and Sakura Internet also reporting unauthorized access involving customer information.
8601.JP · Regulation · Negative Daiwa disclosed a vendor breach that may have leaked data on up to 110,000 clients, exposing it to regulatory and legal fallout.
Scala Communications · Regulation · Negative Scala Communications suffered unauthorized access to its servers, the source of the Daiwa client-data leak.
NBPE Buys Back 25,223 Class A Shares, Cancels Them
NB Private Equity Partners Limited announced it purchased 25,223 of its own Class A Shares on the London Stock Exchange on 2 October 2026, at prices between £14.96 and £14.79, under the general authority granted by shareholders on 11 June 2026 and its share buy-back agreement with Jefferies International Limited. All Class A Shares bought back will be cancelled, leaving 37,502,593 Class A Shares outstanding, with a further 3,150,408 Class A shares held in treasury. The company said the market should use the figure of 37,502,593 voting rights when determining whether it is required to notify its interest in, or a change to its interest in, the company under the FCA's Disclosure Guidance and Transparency Rules. NBPE is a closed-end investment company domiciled in Guernsey that invests in direct private equity investments alongside private equity firms globally, with NB Alternatives Advisers LLC, an indirect wholly owned subsidiary of Neuberger Berman Group LLC, as its investment manager.
S&P Global Ratings launches vault risk assessment tool for digital asset lending
S&P Global Ratings, a division of S&P Global, has launched its vault risk assessment, a new analytical approach delivering independent, forward-looking insights into the risks associated with digital asset lending vaults, according to a statement on Sunday. The framework provides independent risk transparency for on-chain investment vehicles, extending S&P Global's offerings across the DeFi space. Digital asset lending vaults are investment vehicles that operate on a blockchain, pooling investor deposits and deploying them according to defined strategies much like managed fixed-income funds. Total deposits in vaults reached $10 billion as of September 2026, up sharply from $1.5 billion two years earlier.
SPGI · Technology · Positive S&P Global Ratings launched a new vault risk assessment framework, expanding its analytical offerings into DeFi digital asset lending.
Daiwa Securities Reports Possible Leak of Customer Data for About 110,000 People After Unauthorized Access at Outsourced Vendor
Daiwa Securities, a subsidiary of Daiwa Securities Group, announced on the 5th that customer information for approximately 110,000 people may have been leaked due to unauthorized access to a server at an outsourced vendor. The potentially leaked information includes names, email addresses, and account numbers, and when inquiries and other information that cannot identify individuals is included, the total reaches approximately 220,000 records. The unauthorized access occurred between around 8:33 p.m. on the 2nd and around 8:01 a.m. on the 3rd at Scalar Communications, a system company to which Daiwa Securities outsources the provision of inquiry management services, and Daiwa Securities received a report from the company on the 3rd. Scalar Communications has already implemented emergency security enhancements, and at this point no additional unauthorized access or information leaks have been confirmed, nor has any unauthorized access to Daiwa Securities' own systems been confirmed. The potentially leaked information alone cannot be used to access securities accounts or conduct transactions, and at this point no fraudulent transactions resulting from this matter, nor any public disclosure or spread of the information on the internet, have been confirmed.
8601.JP · Regulation · Negative Customer data for ~110,000 people may have leaked via unauthorized access at an outsourced vendor, exposing Daiwa Securities to a data-security/legal-compliance issue.
Phillip expects MTC Q3 2026 profit to hit a record 2 billion baht
Phillip Securities (Thailand) Public Company Limited estimates that Muangthai Capital Public Company Limited, or MTC, will post net profit of about 2 billion baht in the third quarter of 2026, up 18.4% from the same period a year earlier and 7.2% from the previous quarter, marking a record high for a 13th consecutive quarter, driven by interest income growing in line with loan expansion while interest expenses trend lower, even as the company may face higher expenses and provisioning. The research team expects loans in the third quarter of 2026 to expand 3.1% from the previous quarter, accelerating from 2.6% in the second quarter of 2026, bringing loan growth from the end of 2025 to about 5.8% year-to-date. However, that acceleration may come with pressure on asset quality, with non-performing loans expected to continue rising. Phillip Securities maintains its net profit forecast for MTC in 2026 at 7.6 billion baht, up 13.4% from a year earlier, and keeps its 2027 target price at 42 baht per share with a buy recommendation.
MTC.BK · Capital · Positive Phillip Securities forecasts MTC's Q3 2026 net profit at a record 2 billion baht and maintains a buy rating with a 42 baht target price.
CHAYO pushes loans through Chayo Capital app, targets 2026 profit of around 300 million baht
Chayo Group Public Company Limited, or CHAYO, is pressing ahead with expanding its personal loan base, focusing on Advance or emergency loans through the Chayo Capital application, targeting an increase of around 5,000 to 10,000 app-based customers this year, up from the current base of around 2,000 to 3,000 such customers. Chief Executive Officer Suksan Yosain opened up that hitting that target will help support revenue from the lending business to expand, from its current share of around 2% of revenue. The main revenue structure still comes from the debt management and debt purchase business at around 90%, followed by debt collection services at around 4-5% and the business of supplying workers to factories at around 3%. As for the earnings outlook for 2026, the company is maintaining its profit target at the parent company level of approximately 300 million baht, after turning a profit of around 201.73 million baht in the first half of 2026. Meanwhile, on the partial repayment of principal on all five series of debentures, namely CHAYO25NA, CHAYO263A, CHAYO26OA, CHAYO273A and CHAYO279A, with a combined value of approximately 3.9329 billion baht, the company plans to repay around 10% of the principal across all five series within 2026. It has already repaid four series, leaving the fifth, which falls due in November 2026, and it has prepared liquidity to cover it. The company has an interest-bearing debt-to-equity ratio of 0.97 times, and stands ready to acquire additional new non-performing debt portfolios at appropriate price levels, while continuing to develop its competitiveness by bringing in technology and artificial intelligence systems to help manage costs more efficiently.
CHAYO.BK · Capital · Positive Company maintains its 2026 parent-level profit target of ~300 million baht after a ~201.73 million baht H1 profit, and plans to repay ~10% of principal on its five debenture series.
CHAYO.BK · Demand · Positive CHAYO is expanding its personal/emergency loan base via the Chayo Capital app, targeting 5,000-10,000 new app customers this year to grow lending revenue.
Blue Owl's flagship funds see fewer redemption requests in July-September
Redemption requests fell from the prior quarter in the flagship private credit funds of U.S. asset manager Blue Owl Capital. According to an investor letter the firm published on the 2nd, redemption requests for the July-September quarter across two of its funds totaled 4.2 billion dollars, down from 4.7 billion dollars in the previous quarter. At its flagship Blue Owl Credit Income fund, known as OCIC, redemption requests in the July-September quarter amounted to 16.8 percent of outstanding shares, down from 18.8 percent in the prior quarter. OCIC manages 35.1 billion dollars in assets, making it the second-largest non-traded business development company in the industry. At Blue Owl Technology Income, known as OTIC, which focuses on the technology sector, redemption requests in the July-September quarter came to 1.1 billion dollars, equivalent to 39 percent of outstanding shares, roughly flat from 1.1 billion dollars and 38.1 percent in the previous quarter. The decline in redemption requests is a fresh sign that the private credit industry may be emerging from the worst of the redemption pressure.
OWL · Capital · Positive Redemption requests fell across Blue Owl's flagship private credit funds, easing pressure on the asset manager's flagship vehicles.
Blue Owl Credit Income Corp · Capital · Positive OCIC redemption requests dropped to 16.8% of outstanding shares from 18.8% in the prior quarter.
Blue Owl Technology Income Corp · Capital · Neutral OTIC redemption requests were roughly flat at 39% of outstanding shares versus 38.1% previously, still elevated.
Ares Warns BT Takeover of TalkTalk Would Damage UK Investment
Ares Management has warned the Government that forcing through a BT takeover of TalkTalk would damage Britain's standing as a destination for international investment. In a letter sent on Sunday to officials, Ofcom and the Competition and Markets Authority, the US private credit giant said the proposed deal would undermine the UK's pro-business credentials and weaken incentives to invest in the UK's network infrastructure. Ares holds a 7pc shareholding in TalkTalk and has lent the business well more than £500m, including over £380m in funding to TalkTalk alone since August 2024, and is itself rivalling BT to take over the debt-ridden broadband provider. The letter also accused BT of stifling a rival bid from private equity firm Epiris and Ares and of abusing its position as a supplier to remove competition from the market. BT's dominance of the UK broadband sector means its takeover would require ministers to override competition laws, with the Government preparing to invoke pandemic-era laws to help rescue the company, and it was reported on Sunday that BT was preparing a new offer after TalkTalk rejected its initial approach.
ARES · Regulation · Negative Ares warns regulators that a forced BT takeover of TalkTalk would damage UK investment and undermine its rival bid.
BT-A.LSE · Competition · Positive BT is pursuing a takeover of TalkTalk and is accused of abusing its supplier position to remove competition, which would strengthen its broadband dominance.
TalkTalk · Competition · Neutral TalkTalk is the takeover target caught between BT's bid and the rival Ares/Epiris approach, with its ownership outcome unclear.
Epiris LLP · Competition · Neutral Epiris is named as Ares' private-equity partner whose rival bid BT is accused of stifling, but no standalone development about Epiris is given.
FactSet Fair Value Raised to US$277.56 as Analysts Split on AI Progress and Growth Risks
FactSet Research Systems has seen its assessed fair value move from US$266.75 to US$277.56, feeding directly into refreshed price targets across recent analyst work. Several firms, including Deutsche Bank, BMO Capital, Stifel and Morgan Stanley, lifted price targets on FactSet into the US$292 to US$301 range, pointing to increased confidence in execution even as ratings remain neutral. BMO Capital highlighted broad based Q4 revenue strength across Wealth and Dealmakers, along with progress in AI through Model Context Protocol adoption and growing API usage, while Stifel cited higher win rates, quicker product development and management commentary that FY26 could represent a floor for operating margins. William Blair upgraded the stock to Outperform, arguing that AI disruption risk to FactSet is overstated. On the bearish side, Goldman Sachs, Barclays, BofA and Wells Fargo all retained negative or cautious ratings even after modest price target increases, with Goldman Sachs flagging mixed Q4 results and expecting FactSet's organic ASV growth to moderate from around 7% as MCP competition rises and AI offerings become less differentiated, and Wells Fargo and BofA pointing to FY27 guidance that sits below prior Street expectations on several metrics. The fair value revision also reflects a revenue growth assumption shifted from 5.76% to 5.65%, a net profit margin assumption adjusted from 25.43% to 24.21%, and a future P/E multiple changed from 13.8x to 14.9x, while the discount rate remains at 8.16%.
FDS · Capital · Neutral Analysts split on FactSet: several raised price targets and William Blair upgraded to Outperform, while Goldman, Barclays, BofA and Wells Fargo stayed cautious on moderating ASV growth and soft FY27 guidance.
FactSet Posts Record Contract Value Jump as Shares Trade at 13.95 Forward P/E
FactSet Research Systems reported the largest quarterly jump in contract value in its history, with annual subscription value rising 7% organically to $2.568 billion in fiscal 2026, beating the top of management's own guidance. The fourth quarter alone added $86 million, retention held above 95%, and every region grew faster than a year earlier, led by Asia Pacific at 10.6%. AI-related products accounted for at least 10% of new subscription value in the fourth quarter, more than all of fiscal 2025 combined, with over 650 clients already accessing FactSet data through its MCP servers. Full-year adjusted operating margin slipped 1.8 percentage points to 34.5% on heavy infrastructure and cybersecurity spending, and management guided fiscal 2027 organic subscription growth to 5% to 6.5% with earnings per share of $19.25 to $19.65. The stock trades at a forward P/E of 13.95 as of October 2, with short sellers holding 12.43% of the float ahead of the November 10 Investor Day.
FDS · Capital · Negative Full-year adjusted operating margin slipped 1.8 points to 34.5% on heavy infrastructure and cybersecurity spending.
FDS · Demand · Positive FactSet reported its largest-ever quarterly contract value jump, with organic subscription value up 7% to $2.568B and every region growing faster than a year earlier.
Corpay has expanded its Corpay Complete platform with several new AI agents that automate expense analysis, voice driven expense creation, virtual card issuance, and transaction coding across corporate, fleet, and vendor payments. The new tools are being rolled out to eligible Corpay Complete customers this month and are designed to centralize spend data, strengthen finance grade controls, and streamline workflows for finance teams. The rollout lands on top of earlier product updates in April and July, and comes as Corpay has raised its 2026 cash EPS guidance to $27.35 and plans to use divestiture proceeds for repurchases, alongside roughly $15b of available capital for buybacks and targeted corporate payments deals. Corpay closed at $394.60, while the most followed narrative pegs fair value at $461.00, implying 14.4% undervaluation, though on a P/E lens CPAY trades at 22.9x versus a US Diversified Financial industry average of 16.6x, a peer average of 16.9x, and a fair ratio of 16.8x. The company also faces pressure if the proposed US$100m U.S. Vehicle Payments settlement reshapes fuel card pricing or if organic growth underperforms current analyst assumptions.
CPAY · Technology · Positive Corpay expanded its Corpay Complete platform with new AI agents automating expense analysis, virtual card issuance, and transaction coding.
CPAY · Capital · Positive Corpay raised its 2026 cash EPS guidance to $27.35 and plans buybacks with roughly $15b of available capital.
Coinbase and Citi Expand Stablecoin Payments Partnership
Citi announced an expanded collaboration with Coinbase to power Coinbase Virtual Accounts and enable institutional stablecoin payment acceptance via Spring by Citi, initially in the United States. The collaboration links Coinbase's digital asset infrastructure with Citi's regulated banking network and creates an industry-first automatic fiat-to-stablecoin conversion feature. Coinbase Global also reported that Chief Accounting Officer Jennifer Jones plans to retire after a successor is appointed. The company's narrative projects $8.5 billion revenue and $2.1 billion earnings by 2028, requiring 8.3% yearly revenue growth and a $0.8 billion earnings decrease from $2.9 billion today, with a $383.46 fair value implying 110% upside to its current price. Some of the most optimistic analysts already expected Coinbase to reach about US$9.3 billion of revenue and US$2.2 billion of earnings.
COIN · Demand · Positive Coinbase's digital asset infrastructure is integrated with Citi's banking network, enabling institutional stablecoin payment acceptance and automatic fiat-to-stablecoin conversion.
COIN · Capital · Neutral Coinbase's Chief Accounting Officer plans to retire and the article cites analyst revenue/earnings projections and a $383.46 fair value implying 110% upside.
C · Demand · Positive Citi expands collaboration with Coinbase to power Coinbase Virtual Accounts and enable institutional stablecoin payment acceptance via Spring by Citi, adding a new payments service offering.
SoFi Migrates US$25 Billion Card Portfolio to Bank-Issued Stablecoin SoFiUSD
SoFi Technologies and Mastercard announced that stablecoin settlement went live across SoFi Bank, N.A.'s debit and credit card program, migrating its entire US$25.00 billion card portfolio to SoFiUSD. SoFiUSD is the first stablecoin issued by a nationally chartered bank on Mastercard's global network, positioning bank-issued stablecoins as an operational bridge between traditional payment rails and blockchain infrastructure. The move connects to SoFi's April 2026 launch of Big Business Banking, which lets enterprises manage fiat and crypto, mint and burn SoFiUSD, and access real time payments in a single bank interface. SoFi's narrative projects $7.7 billion revenue and $1.6 billion earnings by 2029, requiring 21.6% yearly revenue growth and an earnings increase of about $1.0 billion from $636.3 million today, while the most pessimistic analysts saw SoFi reaching only about US$6.0 billion revenue and US$1.0 billion earnings by 2029.
SOFI · Technology · Positive SoFi migrated its entire $25B card portfolio to its own bank-issued stablecoin SoFiUSD, an operational blockchain-payments development tied to its Big Business Banking platform.
MA · Demand · Positive Mastercard's global network now carries the first bank-issued stablecoin, with SoFi's entire $25B card portfolio settling on it, expanding Mastercard's payment volume.
BlackRock Files for ETF Share Classes on Five Active Mutual Funds
BlackRock has filed with the U.S. Securities and Exchange Commission to add ETF share classes to five active mutual funds, giving investors another way to access these existing portfolios. The filing comes as BlackRock shares last closed at $1,059.63, down 4.3% over the past month but up 6.4% over 90 days, with a multi-year total shareholder return of about 74.8%. The most followed narrative on the stock pegs fair value at $1,318.96, implying the shares are 20% undervalued, while the SWS DCF model points to a fair value of $1,148.38, also above the current price. BlackRock has evolved from an indexed asset manager into a global platform spanning technology, public markets, and private markets, with a more recurring earnings profile. The story could be knocked off course if ETF growth slows or if technology and private markets fees do not meet expectations.
BLK · Regulation · Neutral BlackRock filed with the SEC to add ETF share classes to five active mutual funds, a regulatory filing that could broaden access but has unclear near-term impact.
BlackRock Bitcoin Holdings Top $1.5 Billion After a Month of Inflows
BlackRock has significantly expanded its Bitcoin holdings after a month of consistent inflows through its Bitcoin funds, with more than $1.5 billion in Bitcoin now topping the asset manager's holdings. The leading asset management firm built the position over that one-month stretch of steady inflows into its Bitcoin funds. The figure marks the scale of BlackRock's Bitcoin exposure following the sustained buying.
Block's Cash App Launches Bitcoin Bonus Feature, Dorsey Urges Users to Opt In
Block CEO Jack Dorsey urged users on Wednesday to opt in to Cash App's new Bitcoin bonus feature, writing "turn it on" while quoting the platform's announcement. The feature lets users earn weekly rewards of up to 2% in BTC annually simply by holding Bitcoin in the app, with rewards funded directly and no lockup, lending, staking, or moving of users' BTC, keeping holdings available for withdrawal at any time. The bonuses are taxable, and users must opt in through the Bitcoin tab in the app to become eligible. Cash App serves as Block's primary consumer-focused ecosystem, and its second-quarter volume grew 17% year over year to $56.5 billion, driven by the Visa-powered Cash App Card and buy-now-pay-later credit, while Consumer Lending origination volume grew 59% year over year to $18.9 billion. Block has also placed a significant bet on Bitcoin's utility as a medium of exchange, deploying payment capabilities within its Square point-of-sale system.
Robinhood Adds AI Trading Agents That Trade Stocks Autonomously
Robinhood has rolled out new AI trading agents that let users connect a chatbot such as Anthropic's Claude or OpenAI and direct it to place trades, Fortune Finance & Crypto Editor Jeff John Roberts said on Fortune Daily with Ellie Austin. Roberts said users can log into Robinhood, name the agent, and instruct it to buy shares such as Tesla. He framed the launch as the first arrival of a feature he expects every other company to add within the next couple of years, rather than an immediate overhaul of investing. Roberts warned of unintended consequences from letting agents trade while users sleep, including herd behavior if many agents converge on the same stock, and said that while guard rails exist, not everyone will use them.
Sura Kanitthaweekul cuts SGC stake to 0.96% while Peeranart Chokwattana keeps buying
Sura Kanitthaweekul, the fifth-largest shareholder of SGC Capital Public Company Limited, or SGC, has reduced his shareholding to 60,000,000 shares, or 0.96%, from a previous 70,000,000 shares, or 1.12%, according to the latest shareholder structure data for September 2026. Meanwhile, in SGC's reports on the acquisition and disposition of securities (Form 246-2) for September 2026, Peeranart Chokwattana was found to have steadily increased her shareholding, buying 20,000 shares at 1.55 baht per share on September 1, 20,000 shares at 1.52 baht per share on September 2, 40,000 shares at 1.47 baht per share on September 3, and 10,000 shares at 1.47 baht per share on September 14. Her name does not yet appear in the shareholder structure, and the transactions run counter to Sura's investment. In SGC's latest shareholder structure, Singer Thailand Public Company Limited remains the largest shareholder with 4,680,000,000 shares, or 75.00%, followed by Jaymart Group Holdings Public Company Limited with 145,798,585 shares, or 2.34%, and Chalermpol Thatchawaranan with 82,678,000 shares, or 1.32%. In addition, SGC's board of directors approved the sale of a portfolio of Rot Tang Ngern vehicle loans worth no more than 1.3 billion baht to a juristic person that is not a related party, and resolved to propose to the extraordinary general meeting of shareholders No. 1/2026 the transfer of 209,379,885 baht in legal reserve and 646,993,040 baht in share premium to offset the company's accumulated losses of 856,372,925 baht in its separate financial statements as of June 30, 2026. The extraordinary general meeting of shareholders No. 1/2026 is scheduled for September 29, 2026 at 10:00 a.m., to be held exclusively as an electronic meeting, with a record date set for September 3, 2026.
SGC.BK · Capital · Neutral SGC sees a shareholder cut his stake while another buys, and its board approved selling up to 1.3 billion baht of Rot Tang Ngern vehicle loans plus a plan to offset accumulated losses with reserves and share premium.
Pershing Square Cuts Quarterly Dividend 15.6% to $0.103 per Share
Pershing Square Inc. declared a quarterly dividend of $0.103 per share, a 15.6% decrease from its prior dividend of $0.122. The dividend carries a forward yield of 0.78% and is payable Oct. 20 to shareholders of record as of Oct. 12, with the ex-dividend date also set for Oct. 12.
Invesco Q2 Revenue Rises 20.3% as Custody Bank Stocks Beat Estimates
Invesco reported second-quarter revenues of $1.33 billion, up 20.3% year on year and in line with analysts' expectations, as the 16 custody bank stocks tracked by the roundup collectively beat consensus revenue estimates by 3.2%. Invesco beat analysts' EBITDA estimates while assets under management came in line, and its stock is up 1% since reporting, trading at $30.43. Hamilton Lane posted the group's biggest estimate beat, with revenues of $275.3 million, up 56.5% year on year and 21% above expectations, though its shares are down 6.6% at $88.65. StepStone Group delivered the weakest performance against estimates, with revenues of $300.6 million, up 26.6% year on year but 3.9% below expectations, and its stock is down 11.1% at $44.72. SEI Investments reported revenues of $641.6 million, up 14.7% and 0.7% above expectations, with its stock up 5.7% at $104.35, while Ridgepost Capital posted revenues of $81.28 million, up 11.5% and 3.6% above expectations, though its shares are down 16.9% at $7.51. On average, custody bank share prices are down 3.8% since the latest earnings results.
Fiserv Launches Roughrider Stablecoin on Solana for North Dakota Bank Settlement
Fiserv has launched the Roughrider stablecoin, a bank-to-bank settlement token built on Solana. Versa Bank issues the bank-only token, which serves a North Dakota network of more than 90 banks and credit unions. The coin is designed for interbank settlement among those institutions rather than for consumer retail use, replacing legacy systems such as Swift and ACH with near-instant, near-zero-fee transfers. The North Dakota effort is separate from a national network of regional and community banks that is launching its own bank stablecoin network. Because the token runs on Solana, its growth could drive demand for the network's gas fees.
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Chaince Securities to Serve as Exclusive Sales Agent for Magic Empire Global's US$100 Million At-the-Market Offering
Chaince Securities, LLC has been engaged as the exclusive sales agent for Magic Empire Global Limited's at-the-market equity offering program of up to US$100 million in Class A ordinary shares. The engagement is made under an At-the-Market Offering Agreement dated September 30, 2026, under which Magic Empire Global, a British Virgin Islands-incorporated holding company operating in Hong Kong through subsidiaries as a corporate finance advisory services provider, may sell shares from time to time through Chaince as sales agent. Sales, if any, may be made by any method permitted by law deemed to be an at-the-market offering under Rule 415(a)(4) of the Securities Act of 1933, including directly on the Nasdaq Capital Market, at prevailing market prices and subject to minimum price and other execution parameters set by the company. Chaince will not purchase shares as principal, there is no minimum offering amount, and the company is not obligated to sell any shares under the agreement. Magic Empire Global intends to use any net proceeds for working capital and general corporate purposes, with the shares offered under an effective shelf registration statement on Form F-3 initially filed with the SEC on September 8, 2026, and declared effective on September 17, 2026, plus a prospectus supplement dated September 30, 2026.
MEGL · Capital · Neutral Magic Empire launches an up-to-$100M at-the-market equity offering, which raises capital but dilutes existing shareholders.
CD · Capital · Positive Chaince Securities engaged as exclusive sales agent for Magic Empire's up-to-$100M at-the-market offering, a new financing mandate.
Independent Inspector Preliminarily Confirms Garg Group Has Over 52% of Votes to Remove Five Better Directors
An independent election inspector hired by Better Home & Finance Corporation has preliminarily verified that the Garg Group secured more than 52% of votes needed to remove five incumbent directors, including Daniel Lewis and Harit Talwar, from the board of the Nasdaq-listed company. First Coast Results Inc. provided the preliminary count, which remains subject to review by the Company, and the Garg Group said it is confident the inspector will promptly certify the consent solicitation results. The Garg Group said it is working with the board on an orderly handover and, following a board call this morning at 8:30 am, expects the five directors to accept their removal today. Founder Vishal Garg said the inspector has confirmed the voice of BETR shareholders and that he is eager to move forward with Better 2.0. Garg also said that he and the Company's CFO blocked an attempt by Lewis, with the complicity of one board member, to forcibly pay himself $750,000.
BETR · Regulation · Neutral Independent inspector preliminarily confirms Garg Group has over 52% of votes to remove five Better directors, a governance/board-control change.
First Coast Results Inc. · Demand · Positive First Coast Results Inc. is the independent election inspector whose preliminary count confirmed the Garg Group's consent solicitation result.
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