Daily · ESMA CSD Access and US Crypto Listings · October 7, 2026

Key points

ESMA clarifies third-country CSD access

ESMA published a statement clarifying that EU market participants should not be prevented from accessing third-country Central Securities Depositories (CSDs) beyond 17 January 2027. The current transitional regime, which allows certain third-country CSDs to provide notary and central maintenance services for financial instruments constituted under the law of an EU Member State, is set to end on that date.

The Market Integration and Supervision Package (MISP), currently under negotiation, proposes extending this transitional regime. ESMA understands that both the Council of the European Union and the European Parliament support an extension. This clarification reduces operational disruption risk for firms relying on non-EU CSDs pending the finalisation of the MISP legislation.

US exchanges expand crypto and leveraged listings

Investors Exchange LLC filed a proposed rule change with the SEC that was granted immediate effectiveness. The rule establishes listing standards and withdrawal criteria for options on commodity-based trusts holding a single or multiple crypto assets. It also amends rules regarding position and exercise limits for options on the iShares Bitcoin Trust ETF.

Separately, the SEC granted approval of a proposed rule change for Cboe BZX Exchange to list and trade six 3x leveraged ETFs under BZX Rule 14.11(e)(4). The approved products are the 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF, and 3x Natural Gas ETF, each a series of the VS Trust.

These actions expand the regulatory framework for crypto-linked options and add leveraged commodity and crypto exposure to the U.S. listed market.

SNB monetary policy speech and data

The Swiss National Bank (SNB) published a speech by Antoine Martin titled "The SNB and its monetary policy" on 7 October 2026. The bank also published IMF SDDS Plus data and exchange rate indices for October 2026 on its data portal.

Sanctions updates and regulatory approvals

OFAC published the names of one or more persons placed on the SDN List based on applicable legal criteria, blocking all property and interests in property subject to U.S. jurisdiction. OFAC also published updates regarding unblocked property, removed duplicate entries, and identifying information changes for persons on the SDN, NS-PLC, or SSI Lists.

The SEC approved a FINRA rule change, as modified by Partial Amendment No. 1, exempting specified collective trust funds from FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and Rule 5131(b) (New Issue Allocations and Distributions). Additionally, the ECB published the results of the September 2026 survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets.

Our read

The ESMA statement provides critical operational certainty for firms dependent on third-country CSDs, effectively bridging the gap until the MISP extension is codified. In the U.S., the simultaneous approval of crypto options standards and leveraged ETFs signals a maturing regulatory posture toward digital asset derivatives, allowing for more complex risk management tools. The exemption for collective trust funds from IPO restrictions may alter how these vehicles participate in new equity offerings, potentially increasing liquidity in secondary markets. Compliance teams should update screening protocols immediately to reflect the new OFAC designations and monitor the MISP legislative process for final deadlines.

This digest was produced automatically by a large-language-model system from the regulator publications and official sources listed below; it is AI-generated content and may contain inaccuracies. It is not legal advice — verify wording and deadlines against the original documents.

Sources