Gavin Wells is the new Head of Europe of
software company, Digital Asset Holdings, the company confirms.
Wells had previously been at LCH Clearnet
(LCH), where he was global head
of ForexClear. Wells joined LCH in 2008 and led the team ...
Absa Bank (Absa), the South
African subsidiary of the Barclays Africa Group (Barclays Africa), has become
the first bank in Africa to join R3’s consortium aiming to design and apply
distributed and shared ledger-inspired technologies to global financial
Thomson Reuters has joined R3’s partnership to design and
apply distributed and shared ledger-inspired technologies to global financial
“Thomson Reuters will contribute insights from its work with
customers to drive product innovation and transformation in the financial
Digital Asset, a developer
of distributed ledger technology, has hired Carol Mathis as its chief financial officer (CFO).
Mathis joins from RBS
Corporate and Institutional Bank, where she was a managing director and chief
operating officer for the past three ...
Franck Mikulecz, managing director of the newly established clearing house FXCH, explains why
and how his firm is using distributed ledger technology to clear spot FX
Profit & Loss: You’ve launched a clearing house to clear spot FX using ...
R3 and 15 member banks of its consortium have completed two distributed
ledger prototypes that it claims prove the usefulness of the technology in
addressing USD FX trading issues.
The banks designed and utilised self-executing transaction
agreements – so-called smart contracts -on ...
Cobalt DL says that it
has commenced beta testing with a number of leading FX participants on its
private peer-to-peer network that uses distributed ledger technology in order to
try and reduce post-trade cost and risk.
Andy Coyne, co-founder
Symbiont, a provider of smart contracts and distributed ledgers
in financial markets, has appointed Caitlin Long as its president and chairman
of the board of directors.
In these roles Long will be responsible for commercialising
Symbiont’s blockchain technology, encompassing ...
BM&FBovespa is the latest financial services firm to join the R3 partnership that aims to design and apply distributed and shared ledger-inspired technologies to global financial markets.
The exchange group will join over 60 other financial institutions in the consortium, where it will collaborate on research, experimentation, design and engineering to help develop distributed ledger technology that meets the financial and capital markets requirements for identity, privacy, security, scalability, interoperability and integration with legacy systems.
Consortium members work closely with R3 to develop Corda, its shared ledger platform specifically designed to record, manage and synchronise financial agreements between regulated financial institutions.
The International Swaps and Derivatives Association (ISDA) has published a whitepaper calling for greater standardisation and automation of derivatives market infrastructures.
The new paper, The Future of Derivatives Processing and Market Infrastructure, highlights a number of challenges with existing structures and processes, and recommends several steps the derivatives industry can take to create efficiencies – in particular, by embracing opportunities for further standardisation.
"The derivatives industry has become reliant on legacy infrastructures and processes that have been layered on top of each other over time. That might be the result of historical acquisitions, where the respective systems haven't been fully integrated. More recently, the sheer pace of regulatory change has meant firms have been under pressure to tackle the next pressing deadline. The result is a derivatives infrastructure that is duplicative and based on incompatible operating standards, and this isn't sustainable," says Scott O'Malia, CEO of ISDA.
Antony Lewis has taken a job as a director in R3 CEV’s lab and research centre in Singapore.
Prior to this new role, Lewis was working as a consultant, focused on helping financial services firms understand fintech, blockchains and distributed ledgers.
Between 2013 and 2015 he was part of a venture capital funded bitcoin startup, itBit, working as an institutional client group director.
Before that, he spent four years at Credit Suisse, working initially as an FX business analyst in London and then later as an FX technology project manager in Singapore.
Visa is partnership with Chain to launch a new business-to-business (B2B) payments platform using blockchain technology.
The new platform, Visa B2B Connect, will be built using Chain Core, an enterprise blockchain infrastructure that is designed to facilitate financial transactions on scalable, private blockchain networks.
The plan is for Visa to use this technology to develop a near real-time transaction system designed for the exchange of high-value international payments between participating banks on behalf of their corporate clients.
The platform will be managed by Visa end-to-end and the firm says it will facilitate a consistent process to manage settlement through Visa’s standard practices.
Cobalt DL (Cobalt), which plans to launch distributed ledger-based FX post-trade platform in 2017, has announced a partnership with SETL to deploy its Open CSD distributed ledger within the platform.
Although a spokesperson for Cobalt declined to name a targeted go-live date for the platform next year, the firm claims that it has 15 institutional FX participants already committed to the service.
Profit & Loss previously reported on Cobalt’s plans to try and reduce post-trade costs for financial services firms by creating a shared view of trade data.