Kingdom Trust, which provides custody services for digital asset investments, has secured insurance for digital assets held on its qualified custody platform through Lloyd’s of London.
“Qualified custody by a regulated, insured financial institution is a top priority and critical hurdle for institutions to invest in the digital asset markets,” says Matt Jennings, CEO of Kingdom Trust. “By adding another trusted specialist like Lloyd’s to our platform, we’re ensuring that current and future clients will have access to a highly secure, complete safekeeping solution tailored to meet the challenges of institutional finance.”
Technology provider Vela, has announced a partnership with CoinMarketCap, a provider of cryptocurrency data, to add cyrptocurrencies to its market data feed service, SuperFeed.
The partnership will provide Vela’s institutional client base with normalised access to the list of more than 1,800 cryptocurrency coins and tokens supported by CoinMarketCap. Vela will integrate CoinMarketCap’s professional API into SuperFeed to enable institutions to access the new data alongside more traditional market data sources.
“With crypto being one of the biggest disruptors in our space today, this agreement fortifies Vela’s entry into this innovative digital currency sector,” says Jen Nayar, CEO at Vela.
TransFICC, a provider of low-latency connectivity for fixed income and derivatives markets, has secured a strategic investment from Citi, which joins existing shareholders, Illuminate Financial, Main Incubator (which is part of Commerzbank), and The FinLab.
TransFICC aims to resolve the issue of market fragmentation by providing banks and asset managers with a unified, low-latency, robust and scalable API. TransFICC seeks to enable financial institutions to access their required e-trading venues, while streamlining technology requirements and reducing operational costs. In addition to securing this investment, TransFICC has joined Citi's Innovation Lab in London, the first external company to do so.
AirSwap, a decentralised global network for Ethereum tokens, is rolling out a private, beta version of its new conversational OTC features today, August 15th.
AirSwap staff and partners gave product overviews and demos at a private event on August 8th at its Brooklyn loft, which featured presentations on the AirSwap Widget, the Developer Toolkit and a new conversational OTC product. Key partner firms also discussed integration and building on AirSwap.
The event kicked off with AirSwap advisor, VC and blockchain enthusiast, Bill “Yoda” Tai, giving an overview of AirSwap’s role in the evolution to frictionless, decentralised, peer-to-peer trading, discoverable by search.
The Bank of England says it is looking to explore synchronisation of payments in its RTGS (Real Time Gross Settlement) service, including cross border payments relating to international currency transactions.
In a release the Bank says it believes that this functionality could provide an opportunity to reduce cost and risk, improve efficiency, and support innovative new methods of settlement. “We are now seeking to work with a small group of organisations to further explore the potential for this functionality,” it states.
A new report from research group Greenwich Associates says that the focus of e-trading efforts in financial markets is switching away from mature markets like FX and into high yield bonds and cash equities.
In its latest report, From FX to High-Yield Bonds: Global Electronic Trading Update, Greenwich’s head of research, Kevin McPartland, says that the main action has shifted to new frontiers like high-yield bonds and those changing at the hands of new regulations like cash equities, where the impacts of MiFID II and advances in automated trading technology have triggered a surge in e-trading.
AlphaBot has added performance data and analysis tools enabling investors to compare, portfolio build, and compile reports on more than 1,600 cryptocurrencies and tokens.
Launched earlier this year, AlphaBot helps allocators - including high net worth individuals, family offices and institutions - find and connect with investment platforms, hedge funds, data sources and other providers. Using AlphaBot, allocators can obtain fund performance and benchmarking data, then model, build and execute portfolios.
“As the cryptocurrency markets grow and mature, AlphaBot now is the only platform that allows for thorough research, analysis, and comparison of performance of crypto currencies along-side other investments including hedge funds, CTAs, and equities all in one place,” says Dmitri Alexeev, CEO of AlphaBot.
Cobalt, a London-based back and middle office infrastructure provider, announced that it will be hosting its systems in the BT Radianz Cloud.
The Cobalt system delivers this shared infrastructure by using a combination of an immutable shared ledger and low latency technology in a bid to “significantly reduce post-trade cost and risk for the financial markets”. By creating a shared view of trade data, Cobalt seeks to free up back and middle office resources from multiple layers of reconciliation; creating one immutable record of FX transactions from which to provide multiple services.
Thomson Reuters is partnering with CryptoCompare, a cryptocurrency market data aggregator, to integrate order book and trade data for 50 cryptocoins onto its Eikon platform.
In a release issued today the two companies claim that adding CryptoCompare’s data to the Eikon platform will allow trading professionals and investors to gain a comprehensive view of the cryptocurrencies market and of market participant behaviour, enabling them to predict price movements with a high degree of probability.
Eikon users will be able to see data for actively trading coins, allowing them to potentially identify buy and sell opportunities and expand their digital asset portfolios.
CLS and IBM have announced a collaboration on a proof of concept (PoC) for LedgerConnect − a distributed ledger technology (DLT) platform for the financial services industry designed to enable sell and buy side firms, FinTechs and software vendors to deploy, share and consume services hosted on a shared distributed ledger network.
The companies say that on the new initiative financial institutions will be able to access services in areas such as, but not limited to, know your customer processes, sanctions screening, collateral management, derivatives post-trade processing and reconciliation and market data.