Infrastructure
LSEG buyout finally unshackles Matching and FXall
After watching the market evolve around them, platforms can finally get on the front foot
Ailing Suriname floats its currency
Defaulting country holds debt talks as inflation and corruption take toll
Inside Refinitiv’s high-stakes FX revamp
Fintech firm, flush with cash from new owner, preps much-needed makeover of Matching and FXall
Bank of Israel accelerates work on CBDC
Central bank has been exploring pros and cons of issuing a digital shekel since 2017
LSEG to replatform Matching and FXall
Migration to stock exchange’s tech platform aims to deliver faster speeds and more order types
Dollar’s share of global reserves falls to 25-year low
Gradual decline may stem from currency diversification by emerging market central banks – IMF report
Singapore’s SWF starts work on cross-border payment network
JP Morgan, DBS Bank and Temasek say project will build on collaboration with MAS
BIS to operate sterling liquidity facility backed by BoE
Move echoes twentieth-century arrangements when BIS acted as intermediary in swaps network
BoE and Treasury launch CBDC task force
Central bank also forms new division to lead “internal exploration” of digital currency
ECB’s digital euro consultation reveals public’s privacy fears
Nearly half of responses to ECB come from Germany
HKMA and BoJ launch new securities settlement framework
New “delivery versus payment link” aims to reduce settlement risk
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
FX HedgePool targets Europe as volumes grow
Platform eyes expansion, as swaps volumes hit $1.5 trillion since inception
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast
Could private match-making sink public market?
Rise in internal hedging sparks debate over its threat to price discovery
Is FX catching up with Silicon Valley?
The industry is taking a leaf out of the Silicon Valley playbook to leverage automation, AI and big data, write BNP Paribas execs
Deutsche Börse eyes quantum computing
Pilot application to model enterprise risks cuts computation time from 10 years to 30 minutes
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
State Street to look after bitcoin, just don’t call it custody
The second-biggest custodian will provide “record-keeping services” for the unregulated asset
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
All roads lead to Bergamo: Euronext eyes new home for its tech
Market participants fear a “horrible” relocation project and more room for latency arbitrage
First P2P trade completed on Siege FX
Dark pool aims to match algo orders among its 30 buy-side clients
If stablecoins are money, they should be backed by reserves
The growth of stablecoins could reduce the supply of safe collateral available to markets
Growing internalisation could threaten price discovery, say LPs
Dealers might have to deliberately hedge on venues to bolster data, says Credit Suisse’s Estrada