Infrastructure
EBS delays migration to CME Globex following member requests
FX dealers experiencing IT freezes or reallocation of resources have asked for more time to prepare
CLS wants more members to help it boost third-party access
New members are fuelling PvP settlement growth, but utility says it will need more to maintain this
Dragging OTC FX options into the modern day
FX dealers may finally have a viable way to trade the instruments electronically, but limitations remain
Can Clobs level the playing field in OTC FX options?
Electronification could be a “game changer” for smaller liquidity providers, say participants
Fed paper explores stablecoins’ impact on financial system
Researchers say stablecoins could be a ‘digital safe haven’ during volatility, but design choices matter
Cboe to cut FX trading response times in half
Incoming policy will give liquidity providers 35 milliseconds to review last look orders
Vanguard eyes DLT for FX forwards after smart contract success
Fund giant hopes roll-out of tech in 2022 will deliver greater efficiency and pricing benefits
LSEG beefs up non-cleared ambitions with Quantile deal
Agreement to buy optimisation firm for £274m strengthens LCH’s FX foothold as SA-CCR bites
Mexican government announces CBDC for 2024
Bank of Mexico has yet to comment publicly on the initiative
Margin rules lead to rise in Asian NDF clearing volumes
LCH and Eurex position themselves for NDF clearing uptick ahead of next UMR phase
Quantum computing: kryptonite for bitcoin and cyber security
The race is on to secure new encryption algorithms for DeFi, before quantum computers become a present danger
Dealers look to cut SDP prices amid platform fee battle
JP Morgan offers different pricing for single and multi-dealer venues; Barclays mulls same approach
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
FX HedgePool eyes mid-month matching
Peer-to-peer swaps venue plans single monthly settlement date for funds that don’t trade at month-end
Currenex lawyers ask judge to dismiss class action lawsuit
Case alleging secret priority trading deals brought too late and not based on facts, defence argue
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
State Street launches tri-party custody for IM clients
Third-party provider begins shifting phase five clients to full-service collateral model
BIS-led CBDC trial could cut cross-border transfer time by 80%
Cross-border CBDC project seeks faster, cheaper payments by cutting out middlemen
China outlaws all crypto transactions and bans mining
PBoC, cyber watchdog and central economic planner act in a joint crackdown on crypto
Swedish central bank considers joining Target2 and T2S
Sveriges Riksbank says Eurosystem platforms could enhance policy but has security concerns
Dealers back CLS plans for EM settlement system
12 banks announce support for project to extend PvP protection to certain CLS-ineligible currencies
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
Could prime of primes go pop?
The PoP market is booming, but some tier one banks are wary