The defence team conducting former HSBC FX trading head Mark Johnson’s appeal against his conviction in late 2017 have filed their appeal brief to the US Court of Appeal, in which they argue that the US Government’s brief offers, “…the latest flavour of the prosecution’s many ever-shifting, imprecise, and contradictory attempts to explain just what, exactly, the crime here was, and it exposes why there was none.” It highlights a series of new arguments put forward by the Government that were not heard by the jury, as well as a series of back tracks by the prosecution side.
Day: 23 January 2019
Seed CX, a licensed exchange for institutional trading and settlement of digital assets, is now offering spot trading.The exchange has opened trading on BTC/USD, while ETH/USD, LTC/USD and BCH/USD pairs will start trading later this month. “There is no shortage of digital asset spot trading markets, but none have our vision for creating an institutional-grade experience across technology, operations and compliance,” says Edward Woodford, co-founder and CEO of Seed CX. “We are getting very positive feedback from recently on-boarded customers, and we are quickly on-boarding more investors and trading firms from around the world.”In September last year, Profit & Loss interviewed Woodford about what it really means to offer an institutional grade platform in the rapidly evolving crypto market.
TransFICC has appointed Godfried De Vidts as a regulatory affairs advisor. Prior to this appointment, De Vidts was the director of European affairs at NEX Group, where he advised on European financial and political issues and led the group’s relationship with the European Commission and Parliament. Throughout his career, De Vidts has been a member of various official working groups such as: the ECB Contact Group on Euro Securities Infrastructures (Cogesi), the ECB Macroprudential Policies and Financial Stability Contact Group (MFCG), and the ESMA Secondary Markets Standing Committee Consultative Working Group.
China has fundamentally changed its approach towards RMB internationalisation, according to BNP Paribas China’s chief China economist, XD Chen.Speaking at a briefing in New York today, Chen explained that for the past five years the authorities in China had one main policy stance regarding the renminbi: to promote the internationalisation of the currency.However, he then added: “But now this policy stance, in our observation and together with our policy consultation, is no longer. In other words, they’re not going to use the government’s force to promote renminbi internationalisation, instead they will follow market forces.”
QCAM Currency Asset Management has announced that Gary Klopfenstein will serve as a senior strategic advisor to the company. In the role, he will advise QCAM on both business and trading strategies with a focus on expanding the firm’s capabilities and extending its reach to a global client base.
Klopfenstein is a pioneer in the specialist currency management industry and has wide ranging experience in alternative investment management, having been a senior managing director at Mesirow Financial in Chicago where he established the currency management practice and built it to over $50 billion in less than 10 years.