And so, Mark Johnson’s battle to have his conviction overturned moves onto the next chapter with a petition for either a re-hearing by the original appeal court panel or by the entire appeals circuit bench – and it is to be hoped that enough of the judges concerned see the absolute need for such a […]
New technologies and old issues are on the agenda for this week’s podcast as Colin Lambert and Galen Stops take a look at the likely impact of blockchain on FX swaps. Stops makes the point that this would be a radical step for what is often seen as an archaic segment of the market, but […]
David Puth, now a strategic advisor at R3, makes the case that the FX industry’s ability to constantly evolve makes it unique amongst financial markets. Profit & Loss: As you look back over the past 20 years of FX, what stands out in your mind with regards to the evolution of this market? David Puth: […]
CLS has unveiled CLSNow, a same day settlement service that was first mooted in September 2017. The bilateral, same-day FX gross payment-versus-payment (PvP) settlement service has been launched with JP Morgan and Goldman Sachs as the first banks to go live. The firm says CLSNow enables banks to exchange currency positions with mitigated settlement risk […]
A group of banks have become the founding shareholders of Fnality International as they advance their efforts to create a Utility Settlement Coin (USC) – as part of the founding the firm has completed an associated ‘Series A’ equity round of £50m. The founding shareholders are Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, Credit Suisse, […]
Koine, which offers custody and settlement of digital assets, has acquired hireabl, a fintech company for automated client on-boarding. In a release issued today Koine says that it plans to make a number of strategic acquisitions of early stage tech-based, IP owners in order to fast-track the integrated end-to-end services that its clients are demanding. […]
TradAir customers will now be able to leverage the over-the-counter (OTC) trade settlement services for digital assets recently launched by Seed CX’s subsidiary, Zero Hash. The Zero Hash settlement service allows firms to settle both digital asset and fiat trades, widen the number of counterparties with whom they can trade and streamline reconciliation, reporting and […]
Zero Hash, Seed CX’s digital asset and fiat currency custodian subsidiary, has launched a suite of OTC trade settlement services for digital assets. The new settlement service aims to widen the number of counterparties that market participants can transact with, streamline reconciliation and reporting, and enable frictionless settlement of trades.At launch, Zero Hash supports spot settlement of 19 fiat pairs, in addition to BTC, ETH, LTC and BCH, and will be launching support for repos, forwards, and other product types in the coming months.
CLS has announced that Nomura Asset Management (NAM) has become the first asset manager headquartered in Japan to provide access to CLSSettlement for Japanese-domiciled funds.NAM is working with three trust banks: the Nomura Trust and Banking Co (NMTB), Japan Trustee Services Bank (JTSB), and the Master Trust Bank of Japan (MTBJ), to offer CLSSettlement to a total of 21 investment trust funds. NAM and the trust banks are supported by a number of global custodian banks, including Brown Brothers Harriman (BBH) and Citibank for NMTB, and with Sumitomo Mitsui Trust Bank (USA) for JTSB, and BBH for MTBJ.
FastMatch and Dmitri Galinov, the founder and former CEO of the company, have resolved the lawsuit filed by Galinov against FastMatch and its parent company, Euronext US.Under the terms of the settlement, neither party admits any liability or wrongdoing.“The settlement is in the best interests of the company, its employees and clients,” says a release announcing the agreement.Galinov left the company on 6 June, 2018 and is “pursuing other interests”, according to the release.Profit & Loss was unable to immediately contact a spokesperson for Euronext, while a spokesperson for Galinov says that as part of the settlement agreement both parties are unable to comment on the terms of the agreement.