Six major financial services firms and the SWIFT financial messaging cooperative report that late last month they pilot-tested a blockchain-based solution that streamlines the communication of “significant corporate events to investors” by getting rid of multiple data problems. In an announcement and a report, SWIFT provided details about this latest collaborative experiment with six securities… Read More >>
NYSDFS Urges Crypto Firms to Use Blockchain Analytics
Cryptocurrency businesses licensed by the state of New York are being strongly urged to use blockchain analytics to improve policies, processes, and procedures, according to a guidance issued by Adrienne Harris, superintendent of the New York State Department of Financial Services (DFS). Cryptocurrencies, aka virtual currencies, are based upon distributed ledger technology (DLT), also called… Read More >>
Crypto Assets Mean Digital Ops for Hedge Funds
Over the next five years, hedge funds are on track for a greater embrace of crypto assets for their investments, and digital overhauls to manage cutting-edge securities operations, according to a survey released in late May by fund administration services provider Intertrust Group, based in Amsterdam, The Netherlands. The company surveyed 100 senior-level professionals at… Read More >>
DLT Meets Collateral Management via Partnership
CloudMargin & Ivno Bring DLT to Collateral & Margining CloudMargin, maker of a cloud-native collateral and margining solution, is working with Ivno, a financial markets tokenization vendor, to develop a collateral management solution that uses distributed ledger technology (DLT) and cloud computing, officials say. Their new strategic partnership will leverage Ivno’s DLT strengths and CloudMargin’s… Read More >>
Top Banks Test Drive Intraday FX Swaps Platform
Tests Involve DLT & Non-DLT Technology NatWest Group, Deutsche Bank, Bank of Ireland, and Banca Mediolanum have been working with treasury teams at other large banks to test a platform for intraday foreign exchange (FX) swaps trading that involves distributed ledger technology (DLT) and non-DLT systems, officials at Finteum say. “The banks’ initiative to create… Read More >>
Will Blockchain Deliver on Its Promises in 2021?
I think our lead fintech news brief about Instinet and Credit Suisse completing multiple equities transactions in T+0 via blockchain/distributed ledger technology [https://bit.ly/2OwJJWJ] may have more significance than at first glance. These two major players used the Paxos Settlement Service from Paxos Trust Company, a self-described infrastructure provide, to settle U.S.-listed equities trades on a… Read More >>
Digital Transformations Are More Important Than Ever: Q&A
(Industry veteran Duncan Johnston-Watt tells FTF News that the COVID-19 pandemic is actually making a convincing case for financial services firms to embrace a digital transformation. In fact, he says the ripple effects of the pandemic are jolting the acceptance rate at firms. Johnston-Watt is co-founder and CEO of Blockchain Technology Partners (BTP), an enterprise… Read More >>
Are You Ready for Digitalized Repo Ops?
(Last month, JPMorgan revealed that it had successfully conducted “a live, blockchain-based intraday repo transaction” between its broker-dealer and banking entity via an internally developed blockchain/distributed ledger technology (DLT) application. The effort was a test of instantaneous settlement and maturity of the transaction in hours rather than days. The news spurred FTF News to reach… Read More >>
Blockchain Successor to CHESS to Launch in 2022
Pandemic Delays Launch of New ASX System The Australian Stock Exchange (ASX) has set its new go-live date of April 2022 for the blockchain-based system that will replace its incumbent clearing and settlement, the Clearing House Electronic Subregister System (CHESS), officials say. The new launch date is 12 months beyond the original launch date, which… Read More >>
SEC Alleges Firm Had a Crypto-Pyramid Scheme
The SEC has filed a civil injunctive action against the alleged perpetrator of a multimillion-dollar pyramid scheme. The SEC claims that, from January 2017 through March 2018, San Clemente, Calif., resident Daniel Pacheco enticed would-be cryptocurrency investors by selling so-called instructional packages that provided e-commerce “lessons,” raising more than $26 million in the process. In… Read More >>
