Closing Huddle — Thursday 29 October 2026

Closing Huddle for Thursday 29 October 2026. What moved - Bank of England sets out approach to tokenised collateral in central clearing - Piero Cipollone: Next-day securities settlement, tokenisation and the transformation of Europe’s financial infrastructure - GDP (Advance Estimate), 3rd Quarter 2026 - Reference moves: Ether 2,282.88 (-3.46%); Bitcoin 79,376.00 (-2.37%); USO 166.57 (+1.64%); Oil (USO) 166.57 (+1.64%). Mixed sources: end-of-day reference values as of 2026-10-29 and quotes delayed by up to 1440 minutes; nothing here is a real-time quote. Why - Bank of England sets out approach to tokenised collateral in central clearing: Changes to what qualifies as collateral in central clearing touch the cost and efficiency of trading cleared derivatives and repo markets; if tokenised collateral is approved, it could affect liquidity management for banks, asset managers and hedge funds operating in UK-cleared markets. - Piero Cipollone: Next-day securities settlement, tokenisation and the transformation of Europe’s financial infrastructure: Firms active in European equities, bonds and derivatives markets would face significant operational and liquidity management changes if next-day settlement becomes the standard, and tokenisation initiatives could reshape custody, collateral and clearing practices across the region. - GDP (Advance Estimate), 3rd Quarter 2026: A strong GDP reading can shift Federal Reserve rate expectations, which in turn influences the US dollar, Treasury yields and risk assets globally. Currency pairs involving the dollar and rate-sensitive instruments are the most direct transmission channels to watch. What comes next - No scheduled events are on the calendar for the next few days. Community question: What did today change about your plan for tomorrow, if anything? Educational discussion, not financial advice. Trading involves significant risk of loss.