Day: June 18, 2019

Facebook Reveals Details of its New Cryptocurrency

Facebook has issued a series of whitepapers outlining its plans regarding the new cryptocurrency that it intends to launch in the first half of 2020. According to the materials released today, the underlying aim of the proposed cryptocurrency, called Libra, is to make moving money around globally as easy, cost effective and safe as sending […]

Has FX Become Divorced From Geopolitics?

Despite the geopolitical situation worldwide becoming more volatile, FX markets have stayed relatively idle, leaving speakers at the Profit & Loss Forex Network London event to wonder what has caused this disparity. In recent months, news of geopolitical volatility – from Brexit woes to an intensifying trade war between China and the United States – […]

Citi to Combine Currency, Rates Businesses

Citi is creating a single rates and currencies business line by integrating FXLM and G10 rates. An internal memo seen by Profit & Loss explains that the two existing businesses have a neighbouring product set, share corporate sales, structuring and a significant technology stack. Therefore, it says that combining them will create “a more streamlined […]

Crown Agents Bank Hires Lilleby

Crown Agents Bank has appointed Ian Lilleby as executive vice president, group CTO and chief information security officer. “Sitting on the Crown Agents Bank executive committee, Ian will play a crucial role in overseeing technology and cybersecurity with the organisation as the digital payment bank continues to advance its wholesale FX and cross-border payments services […]