JPMorgan’s interest in blockchain technology received a great deal of press back in February of this year, when we reported that it would be “the first major bank to embrace the crypto revolution in a significant way by issuing its own proprietary stablecoin to speed up cross-border payments and gain other operating efficiencies, as well”.…
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Securities Clearing Corporation of the Philippines (SCCP), a wholly-owned subsidiary of The Philippine Stock Exchange, Inc. (PSE), has just announced that it has selected LSEG Technology’s Millennium Post Trade solution to improve its post trade processes. LSEG Technology will now be able to implement Millennium Clearing and Millennium Risk products, enhancing SCCP’s clearing, settlement, risk…
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New Zealand Financial Markets Authority (FMA) has recently added another name to its list of unregulated firms. The latest additions are the companies Orion Holdings Capital Management and OH Capital. The regulator recommends exercising caution before dealing with Orion Holdings Capital Management (OHCM), OH Capital and their websites www.ohcmgmt.com, and https://ohcapital.com/. The business address in…
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Australian regulator ASIC has announced earlier today that it has suspended the Australian financial services (AFS) licence of Melbourne-based financial services provider Australian Golden Securities Ltd (formerly known as AFS Capital Securities Ltd). ASIC found that Australian Golden Securities failed to: lodge its accounts and audit report as a licensee for the year ending 30…
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China is aiming to carry out the initial real-world trial of its central bank digital currency (CBDC), according to local news outlet Caijing. The initial test for the CBDC is scheduled for Shenzhen before the end of the year, possibly including the city of Suzhou as well. With the support of the People’s Bank of…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for December 9, 2019. The text below is an excerpt and does not contain the full analysis. Highlights include: November Job Report Shatters Expectations: Last month, employers added 266,000 jobs during the month, around 80,000 more than consensus…
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On Friday, December 6th, in a prosecution hearing against a potential criminal cartel case involving Deutsche Bank AG and Citigroup INC, the former JPMorgan head of markets, Jeff Herbert-Smith, served as a prosecution witness claiming that the banks never colluded in the first place. The testimony actually served as a blow to the prosecution case…
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New Zealand has a rather untypical financial industry structure: the country doesn't have its own banks, but it relies entirely on Australia's big four banks. As reported by Financial Review, the fact that the two countries share the same banks and the same "client" for exporting their commodities (China), if for some reason both economies…
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ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for December 6, 2019. This is not a trading advice. See details below: FOREX The mood in the markets remains positive despite the release this morning of data that shows the most pronounced drop in German industrial output in the last 10…
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The economic tension between Washington and Beijing is soaring. The White House has currently refused to back up a World Bank loan program for China - a loan that is worth $1 billion per year. The funding plan which is for five years was discussed on December 5th, 2019. The program is known as the…
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