LedgerX Gets Nod for Physically Settled Bitcoin Derivatives

The US Commodity Futures Trading Commission (CFTC) has approved LedgerX, a cryptocurrency trading venue, as a Designated Contract Market (DCM). This will allow LedgerX to offer bitcoin spot and physically settled derivatives contracts to retail clients, which it plans to do through its new platform, LedgerX Omni. Founded in 2014, LedgerX obtained approval to act […]
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OneZero Secures Private Equity Investment

Lovell Minnick Partners (LMP), a private equity firm focused on investments in the global financial services industry, has completed a minority investment in oneZero Financial Systems. The financial terms of the private transaction were not disclosed. LMP is joined in this investment by Phil Weisberg, the former CEO of FXall and the founder of Matzliach […]
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10 Years On – G20 Reform Agenda Continues with Crypto in the Sights

A decade after it was tasked with driving reform of the financial system, the Financial Stability Board (FSB) has reported to G20 leaders that while much has been achieved, “promoting global financial stability is a continuous task”. In a letter to the leaders, current FSB chair Randal Quarles says that the FSB’s transition from determined […]
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Capitolis Targets Finance Solution with von Hoerl Hire

Capitolis has appointed Shervyn von Hoerl as head of investor solutions, he will focus on the Capitolis Finance product suite, due for launch later this year and will help drive the development of new solutions in partnership with clients and investors as Capitolis builds new products and services to address capital market constraints. von Hoerl was […]
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Regulators Target Manufactured Credit Events

A joint statement from US and UK regulators signals a continued scrutiny on so-called “manufactured credit events” in the credit derivatives market. The statement, from US Commodity Futures Trading Commission (CFTC) chair Christopher Giancarlo, US Securities and Exchange Commission (SEC) chair Jay Clayton, and UK Financial Conduct Authority (FCA) chief executive Andrew Bailey says, “The […]
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Pan Steps Down at CFTC

Eric Pan is leaving his role as director of the Commodity Futures Trading Commission’s (CFTC) Office of International Affairs (OIA in August. Since 2015, Pan has led the office that advises the Commission on all international regulatory initiatives, provides guidance regarding international issues raised in CFTC matters, represents the agency in international groups such as […]
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The Democratisation of Data: What Comes Next?

As data in the FX market becomes increasingly democratised, panellists at Profit & Loss Forex Network London debated what this means for the industry. Although the sources of data in the FX market have remained fairly static, Andrew Ralich, CEO of oneZero, said that he’s seeing a broad democratisation of the tools and systems necessary […]
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GlobalLink Joins FXPA

GlobalLink, State Street’s suite of e-trading platforms, technology, data and workflow solutions, has joined the Foreign Exchange Professionals Association (FXPA). The FXPA is a Washington-based organisation that represents the collective interests of professional FX industry participants by engaging with regulators and policymakers through education, research and advocacy. “GlobalLink is very pleased to join the FXPA […]
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Analysing the Implications of Citi’s FXPB Cull

The news this week that Citi served a 90-day notice to the largest non-bank market making firms in FX – including Jump Trading, XTX Markets, Virtu Financial, HC Technologies and, at an earlier point in time, GTS – that it is no longer willing to offer them FX prime brokerage (PB) services, certainly got tongues […]
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FIA Welcomes Basel Committee Client Clearing Adjustment

The Futures Industry Association (FIA) has welcomed news that the Basel Committee on Banking Supervision has agreed on a limited revision of the leverage ratio to allow margin received from a client to offset the exposure amount of client-cleared derivatives. The Committee met last week to discuss a range of policy issues, including the leverage […]
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