Tech and data
E-money poses serious threats to financial system, says IMF paper
Paper recommends a ‘synthetic CBDC’ to preserve financial stability
trueEX to shut; deal done with crypto venue
Would-be disruptor will exit swaps business on July 19
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
UBS exec: first trades via USC could take place this year
Risk Live: utility settlement coin project backed by group of banks moving “incredibly fast”
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Banks and prop shops expect more trading tie-ups
NDFs and FX swaps will increasingly trade on screen, but latter product gives banks advantage over non-banks
CBDC could work as contingency payment solution – Norges Bank
Research continues, although central bank finds CBDCs unnecessary to ensure public access to secure means of payment
Lawmakers try to halt Facebook’s Libra over privacy and security fears
Swiss-based financial system potentially storing trillions of dollars could be target for hackers
IMF: some central banks ‘on verge’ of piloting CBDCs
Survey highlights need for greater co-operation on fintech regulation
Swift bullish on future of cross-border payments
Tests of GPI system enhance speed and transparency
360TGTX to unveil new NDF streaming to aid bank algos
Complementary offering set to go live next quarter
CBDC effect on lending depends on competition
CBDC could increase bank lending if banks have some market power, they say
France’s de Galhau unveils G7 task force on ‘stablecoins’
Banque de France governor says group will weigh up impact of Libra and other “stable” crypto assets
FSB weighs options for tackling rise of non-banks
Randal Quarles says strict regulation necessary if crypto assets such as Libra are used widely
Tradepoint sell-side technology streams far-date NDFs
Trading tech provider engages with a dozen banks on far-date and broken tenors
BIS annual report warns of big tech threat to banks
Basel-based body wants “level playing field” for banks and tech firms as Facebook enters payments space
Tradition preps new data platform
Broker to launch product to enhance FX cash and derivatives coverage
LSEG provides tools to another crypto exchange
On top of AAX deal, LSEG is doing design study with second crypto market about to launch
Regulators prepare response to Facebook’s Libra
Plans under way for G7 working group as crypto asset plans draw criticism in Europe and US
Facebook unveils new ‘currency’
Social media group plans to “reinvent money” with payment system backed by liquid reserves
E-FX specialists highlight algo limits
Algos and automation said to struggle in pricing complex macro events
CBDC could raise bank funding costs – Philadelphia Fed
Choosing an appropriate interest rate could help alleviate problem, say researchers
IBM: interbank currency blockchains should address emerging markets
Banks and fintechs, including USC consortium, vie to build distributed networks for FX transactions