Seed CX Launches Three Stablecoins

Seed CX has launched three stablecoins, PAX, USD Coin and TrueUSD, on its digital asset exchange. Through its subsidiaries, Seed CX offers a licensed, institutional exchange platform for trading digital assets, and plans to offer a market for Commodity Futures Trading Commission (CFTC)-regulated digital asset derivatives. The three stablecoins are set to begin trading against […]
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Cobalt Reveals Pricing Model

Cobalt has published its core pricing and has committed to not increase prices in the future without client approval. Cobalt is set to charge $300,000 per annum for its core ledger license and its core credit license. The Cobalt unique transaction (CUT) identifier will be priced at two cents per trade or 0.5 cents per […]
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ISAM Capital Markets Hires Two in Sydney

ISAM Capital Markets, through its subsidiary, IS Prime Australia, is expanding its APAC agency execution business with the hires of Angus Malone and Cal Portway in Sydney. Prior to joining IS Prime Australia, Malone and Portway were joint managing partners at VIA FX,  an independent Sydney-based voice and e-FX agency. Malone also has 15 years’ […]
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EU Fines Five Banks for FX Manipulation

The European Union has formally fined five banks a total of EUR 1.07 billion for taking part in what the EU terms two “cartels” in the spot FX market, involving trades in 11 currencies. Two settlement decisions have been announced, the first involves a group called the “Three Way Banana Split” which sees a total […]
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FIAPTG, CFTC Commissioners, Slam Commission Approval of ICE Speed Bump

The Futures Industry Association’s Principle Traders Group (PTG) has slammed the decision by the Commodity Futures Trading Commission (CFTC) to allow ICE to self-certify its Passive Order Protection mechanism, more commonly known as a speed bump. The PTG was joined in its criticism of the decision, which has already caused significant controversy in futures circles, […]
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And Another Thing…

Back in the day there were certain “clients” who would flat-out lie to their LPs about their trade being “full amount”. Nowadays, thanks to better data and analytics this type of behaviour can be spotted fairly easily and this has meant that now clients are quite open about the “full amount” not actually being “full […]
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Is FX a Dirty Word for Allocators?

Although FX as an asset class still offers potential for returns, asset managers are increasingly reluctant to allocate funds towards trading strategies that are only focused on FX trading, said speakers at the annual Profit & Loss Forex Network New York event. On a panel session looking at allocation trends, the moderator observed that the speakers […]
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Quants the Sole Bright Spot Amongst Crypto Funds

A new report published this week shows that while the median return for crypto hedge funds was a staggering -46% last year, quant funds managed a median return of 8%. The data contained in the report, which was published by PwC and Elwood Asset Management, was collected within the first quarter of 2019 across the […]
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Cleary to Leave Cboe FX

Sean Cleary is set to leave Cboe FX, where he was global head of sales. Profit & Loss understands that Cleary will be leaving his position at the end of May, and that Ben Leit, currently head of FX sales, Europe, will assume his role. A spokesperson at Cboe FX says: “We thank Sean for […]
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Academics Sceptical on Economic Value of Cryptocurrencies

Academics speaking at CoinDesk’s Consensus event in New York today appeared doubtful about the economic value of cryptocurrencies. In a panel titled, From Digital Gold to Contract Theory: The Economics of Mainstream Adoption, Joshua Gans, professor of strategic management at Rotman School of Management, said that an economists job, when confronted by new and exciting […]
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