Cryptocurrency
Podcast: Lipton on (un)stablecoins and FX market-making
Veteran quant has long warned about fundamental flaws in algorithmic stablecoins
Basel chair stands by tough capital rules for crypto assets
Isda AGM: Hernandez de Cos is unmoved by arguments that high risk weights will push banks out of crypto
Crypto market-maker B2C2 weighs US swap dealer registration
Isda AGM: Move would see firm become second crypto trading outfit to obtain designation
Crypto ‘Wild West’ needs a new sheriff – Iosco chief
Isda AGM: Moloney says it’s time to take crypto seriously, and firms need to find a way to engage with regulators
SEC’s Gensler amps up pressure on crypto platforms
Isda AGM: top US securities regulator insists most crypto derivatives fall within SEC’s jurisdiction
CFTC best-placed to regulate digital assets – Pham
Newly confirmed commissioner says agency has the authority and precedent to police crypto markets
What’s up with the docs? Isda aims to set standard for crypto
Industry body looks to standardise digital derivatives documents, but some wonder if it is best placed to do so
Decrypting crypto: understanding the requirements for successful institutional participation
This white paper series takes an institutional perspective, examining the multiple dynamics of the cryptocurrency space. Part two explores the adoption of cryptocurrencies within institutional markets
Basel rules mean banks can’t compete with Coinbase – Goldman
Proposed 1,250% risk weight for crypto holdings undercuts banks’ push into burgeoning market
Decrypting crypto: explaining the market from an institutional perspective
This white paper series takes an institutional perspective, examining the multiple dynamics of the cryptocurrency space. Part one explores the increasing range of crypto derivative products attracting more capital to the sector and how growing…
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Market efficiency and volatility within and across cryptocurrency benchmark indexes
This paper examines the way that market efficiency and volatility clustering in the cryptocurrency markets can be inferred from benchmark index performance.
Buckle up for the bitcoin legal revolution
The brave new world of crypto derivatives needs new thinking for its legal framework, says D2LT CEO
Biden approach could leave US behind on crypto regulation
Long timeline of executive order means international community may move faster than US lawmakers
Crypto industry faces ‘fork in the road’ over sanctions
Bow to policy-makers’ concerns about sanctions evasion or face reputational damage, says LSEG’s Schwimmer
Behnam mulls market structure reform for crypto derivatives
FTX wants to bypass FCMs by integrating margin financing, execution and clearing activities
SEC proposal could mandate crypto venue registration
Updates to Reg ATS would classify “communications protocol systems” as exchanges
Aaron Brown: war could usher in new sanctions era, hurting US
Investors must think long-term, warns risk expert; west may lose out to crypto and new financial hubs
Flow market-maker of the year: Citadel Securities
Risk Awards 2022: ‘Meme factor’ and sturdy systems helped Ken Griffin’s firm cope with huge volumes – and post record revenues
New GFXC chair aims to keep up reform on last look
SNB’s Andrea Maechler urges more liquidity providers and trading venues to address hold times
Banks offer crypto clearing but, shhh, don’t tell
Top dealers clear crypto futures for select clients despite smorgasbord of risks
Op risk data: Mouldy money makes big stink for NatWest
Also: Santander plays Santa; JPM in messaging mayhem; ‘Sterling Lads’ cost HSBC a couple of bricks. Data by ORX News
Regulation and infrastructure: levelling up crypto and digital assets
On its arrival, the current generation of digital assets presented an exciting, untapped frontier for trading. But the ‘wild west’ can’t last forever, and increased regulation promises more than just security for these markets – it also provides them…
Top 10 op risk losses for 2021 hog $15bn total
Despite more fraud and crypto crime, firms’ op risk losses fall in number and in volume. Data by ORX News