Day: July 1, 2019

BIS Establishes Central Bank Innovation Hub

The Bank for International Settlements (BIS) has announced plans to establish an innovation hub to “foster international collaboration on innovative financial technology within the central banking community complementing the already well established cooperation within the existing committees”. The role of the BIS Innovation Hub will be, the bank says, to identify and develop in-depth insights […]

Genesis Announces Senior Hires

Genesis, a digital currency trading and lending firm, has announced three senior hires. Specifically, the firm has named Arianna Pretto-Sakmann as general counsel, Pat DeFrancesco as CTO and Leon Marshall as head of European business development. Profit & Loss previously reported that the firm has also hired Dan Torrey as head of institutional sales. “It […]

Cryptoasset Manager Granted FCA License

Prime Factor Capital (PFC), a London-based cryptoasset management firm, has been granted a license by the UK’s Financial Conduct Authority (FCA) to operate as a full-scope Alternative Investment Fund Manager (AIFM). Under the EU’s AIFM Directive (AIFMD), full-scope AIFMs may manage in excess of €100 million in assets, allowing PFC to begin accepting institutional-size tickets. […]

CboeFX Volumes Flat, Euronext FX Rebound in June

The first two platforms to report June average daily volume indicates that activity rose slightly in June from May, reinforcing a small rebound from April’s lows. CboeFX ADV was unchanged month-on-month at $33.1 billion per day, but 12.4% down year-on-year, while Euronext FX reports ADV of $19.3 billion, up 11.6% from May but down 12% […]

And Finally…

Two laudatory columns in a week – I must be going soft… The best thing about writing a column is that, within reason, I get to set the agenda, therefore I am choosing today, July 1, to mark 20 years of Profit & Loss. Obviously the company was formed beforehand and the actual articles that populated […]