{
  "version": 1,
  "event_id": "evt_b934d5f446d74ac8",
  "url": "https://xiyu.news/events/evt_b934d5f446d74ac8/",
  "json": "https://xiyu.news/api/events/evt_b934d5f446d74ac8.json",
  "type": "product_release",
  "status": "monitoring",
  "category": "crypto",
  "title": {
    "zh": "Binance推出超千只美股及ETF实物交割期权",
    "en": "Binance launches physically settled options on 1,000+ US equities"
  },
  "current_state": {
    "zh": "9月1日，Binance开始向符合条件的美国以外用户提供覆盖超过1000只精选美股和ETF的实物交割期权。订单由Nest Trading介绍并路由至Alpaca Securities，由其负责执行、清算和结算，并在行权后托管任何已交割的股票。\n\n这使传统股票期权与加密货币及代币化股票产品同处一个Binance账户，符合条件的客户无需另开经纪账户。此举进一步深化Binance向传统金融（TradFi）的拓展，同时将受监管的证券执行和托管保留在Alpaca而非Binance手中。\n\n这些期权为实物交割，因此行权看涨期权会交付标的股票，由Alpaca代用户托管。Binance表示，用户必须在到期前最迟30分钟内通过其平台提交行权指令；否则即使期权处于实值状态，也可能被尽力自动平仓，甚至到期作废。",
    "en": "On September 1, Binance began offering eligible non-US users physically settled options covering more than 1,000 selected US stocks and ETFs. Orders are introduced by Nest Trading and routed to Alpaca Securities, which executes, clears, settles, and holds any shares delivered after exercise.\n\nThis puts traditional equity options in the same Binance account as crypto and tokenized equity products, removing the need for eligible clients to open a separate brokerage account. It also deepens Binance's push into traditional finance while keeping regulated securities execution and custody with Alpaca rather than Binance.\n\nThe options are physically settled, so exercising a call delivers underlying shares that Alpaca holds on the user's behalf. Binance says users must submit exercise instructions through its platform up to 30 minutes before expiration; otherwise an in-the-money option may be auto-liquidated on a best-efforts basis or expire worthless."
  },
  "first_seen_at": "2026-09-02T18:12:26.800270+00:00",
  "last_updated_at": "2026-09-02T18:12:26.800270+00:00",
  "last_material_change_at": "2026-09-02T18:12:26.800270+00:00",
  "confidence": 0.75,
  "updates_count": 1,
  "sources_count": 1,
  "entities": [
    "binance",
    "etf"
  ],
  "identifiers": [],
  "topics": [
    "alpaca",
    "binance",
    "equity-options",
    "tradfi",
    "trading-products"
  ],
  "updates": [
    {
      "update_id": "upd_c5d825269f13e38b",
      "event_id": "evt_b934d5f446d74ac8",
      "occurred_at": "2026-09-02T10:40:35Z",
      "published_at": "2026-09-02T10:40:35Z",
      "first_seen_at": "2026-09-02T18:12:26.800270Z",
      "time_precision": "published",
      "update_type": "initial",
      "material_change": true,
      "title_zh": "Binance推出超千只美股及ETF实物交割期权",
      "title_en": "Binance launches physically settled options on 1,000+ US equities",
      "what_changed_zh": "9月1日，Binance开始向符合条件的美国以外用户提供覆盖超过1000只精选美股和ETF的实物交割期权。订单由Nest Trading介绍并路由至Alpaca Securities，由其负责执行、清算和结算，并在行权后托管任何已交割的股票。\n\n这使传统股票期权与加密货币及代币化股票产品同处一个Binance账户，符合条件的客户无需另开经纪账户。此举进一步深化Binance向传统金融（TradFi）的拓展，同时将受监管的证券执行和托管保留在Alpaca而非Binance手中。\n\n这些期权为实物交割，因此行权看涨期权会交付标的股票，由Alpaca代用户托管。Binance表示，用户必须在到期前最迟30分钟内通过其平台提交行权指令；否则即使期权处于实值状态，也可能被尽力自动平仓，甚至到期作废。",
      "what_changed_en": "On September 1, Binance began offering eligible non-US users physically settled options covering more than 1,000 selected US stocks and ETFs. Orders are introduced by Nest Trading and routed to Alpaca Securities, which executes, clears, settles, and holds any shares delivered after exercise.\n\nThis puts traditional equity options in the same Binance account as crypto and tokenized equity products, removing the need for eligible clients to open a separate brokerage account. It also deepens Binance's push into traditional finance while keeping regulated securities execution and custody with Alpaca rather than Binance.\n\nThe options are physically settled, so exercising a call delivers underlying shares that Alpaca holds on the user's behalf. Binance says users must submit exercise instructions through its platform up to 30 minutes before expiration; otherwise an in-the-money option may be auto-liquidated on a best-efforts basis or expire worthless.",
      "current_state_zh": "9月1日，Binance开始向符合条件的美国以外用户提供覆盖超过1000只精选美股和ETF的实物交割期权。订单由Nest Trading介绍并路由至Alpaca Securities，由其负责执行、清算和结算，并在行权后托管任何已交割的股票。\n\n这使传统股票期权与加密货币及代币化股票产品同处一个Binance账户，符合条件的客户无需另开经纪账户。此举进一步深化Binance向传统金融（TradFi）的拓展，同时将受监管的证券执行和托管保留在Alpaca而非Binance手中。\n\n这些期权为实物交割，因此行权看涨期权会交付标的股票，由Alpaca代用户托管。Binance表示，用户必须在到期前最迟30分钟内通过其平台提交行权指令；否则即使期权处于实值状态，也可能被尽力自动平仓，甚至到期作废。",
      "current_state_en": "On September 1, Binance began offering eligible non-US users physically settled options covering more than 1,000 selected US stocks and ETFs. Orders are introduced by Nest Trading and routed to Alpaca Securities, which executes, clears, settles, and holds any shares delivered after exercise.\n\nThis puts traditional equity options in the same Binance account as crypto and tokenized equity products, removing the need for eligible clients to open a separate brokerage account. It also deepens Binance's push into traditional finance while keeping regulated securities execution and custody with Alpaca rather than Binance.\n\nThe options are physically settled, so exercising a call delivers underlying shares that Alpaca holds on the user's behalf. Binance says users must submit exercise instructions through its platform up to 30 minutes before expiration; otherwise an in-the-money option may be auto-liquidated on a best-efforts basis or expire worthless.",
      "detailed_summary_zh": "9月1日，Binance开始向符合条件的美国以外用户提供覆盖超过1000只精选美股和ETF的实物交割期权。订单由Nest Trading介绍并路由至Alpaca Securities，由其负责执行、清算和结算，并在行权后托管任何已交割的股票。\n\n这使传统股票期权与加密货币及代币化股票产品同处一个Binance账户，符合条件的客户无需另开经纪账户。此举进一步深化Binance向传统金融（TradFi）的拓展，同时将受监管的证券执行和托管保留在Alpaca而非Binance手中。\n\n这些期权为实物交割，因此行权看涨期权会交付标的股票，由Alpaca代用户托管。Binance表示，用户必须在到期前最迟30分钟内通过其平台提交行权指令；否则即使期权处于实值状态，也可能被尽力自动平仓，甚至到期作废。",
      "detailed_summary_en": "On September 1, Binance began offering eligible non-US users physically settled options covering more than 1,000 selected US stocks and ETFs. Orders are introduced by Nest Trading and routed to Alpaca Securities, which executes, clears, settles, and holds any shares delivered after exercise.\n\nThis puts traditional equity options in the same Binance account as crypto and tokenized equity products, removing the need for eligible clients to open a separate brokerage account. It also deepens Binance's push into traditional finance while keeping regulated securities execution and custody with Alpaca rather than Binance.\n\nThe options are physically settled, so exercising a call delivers underlying shares that Alpaca holds on the user's behalf. Binance says users must submit exercise instructions through its platform up to 30 minutes before expiration; otherwise an in-the-money option may be auto-liquidated on a best-efforts basis or expire worthless.",
      "background_zh": "实物交割期权与现金结算衍生品不同，它在行权时交付实际标的资产；美国公开上市股票期权历来采用实物交割。Alpaca是获SEC和FINRA批准的美国经纪交易商，提供面向开发者友好的股票、期权和加密货币交易API。Nest Trading持有阿布扎比全球市场（ADGM）金融服务许可，可安排交易并作为代理人，但不能持有客户资金，因此清算和托管由Alpaca完成。",
      "background_en": "Physically settled options, unlike cash-settled derivatives, deliver the actual underlying asset when exercised; publicly traded US stock options are traditionally physically settled. Alpaca is an SEC- and FINRA-approved US broker-dealer that provides developer-friendly APIs for stock, options, and crypto trading. Nest Trading operates under Abu Dhabi Global Market financial-services permission, allowing it to arrange deals and act as agent but not to hold client money, so Alpaca performs clearing and custody.",
      "community_discussion_zh": "",
      "community_discussion_en": "",
      "market_impact_zh": "由于标的是美股，且执行、清算和托管均由Alpaca负责，此次上线对数字资产价格没有直接的传导渠道。结构性影响在于Binance本身：符合条件的用户在同一账户内可交易股票和期权，若其在股票与加密货币产品间重新分配保证金或闲置资金，可能对加密交易量产生间接影响。",
      "market_impact_en": "Because the underlying assets are US equities and execution, clearing, and custody all sit with Alpaca, this launch has no direct price-transmission channel to digital assets. The structural effect is on Binance as a multi-asset venue; indirect effects on crypto volumes could occur if eligible users reallocate margin or idle balances between the equity and crypto products inside one account.",
      "importance_score": 7.5,
      "references": [
        {
          "url": "https://www.optiontradingpedia.com/physically_settled_options.htm",
          "title": "Physically Settled Options by www.OptionTradingpedia.com"
        },
        {
          "url": "https://alpaca.markets/",
          "title": "Alpaca - Developer-first API for Stock, Options, Crypto Trading"
        },
        {
          "url": "https://www.chaincatcher.com/en/article/2268512",
          "title": "Binance's US stock business revealed: Nest Trading is ..."
        }
      ],
      "confidence": 0.75,
      "story_ids": [
        "rss:cryptoslate.com_feed_:1d5893cfe87f7f25"
      ],
      "sources": [
        {
          "url": "https://cryptoslate.com/binance-deepens-tradfi-push-with-physically-settled-options-on-over-1000-us-equities/",
          "label": "CryptoSlate",
          "source_type": "rss",
          "official": false
        }
      ]
    }
  ]
}