Illustrative industry architecture to mitigate potential fragmentation across a central bank digital currency and commercial bank money
The authors put forward a means to mitigate the fragmentation risk to payments markets and retail deposits presented by the adoption of CBDCs.
CrossX and Cypator bring ECN-style trading and settlement to crypto, but rivals claim infrastructure isn’t ready
Trading tokenised versions of currencies on blockchain could slash settlement risk but sceptics raise concerns over liquidity and pricing
New measures to safeguard digital assets threaten to squeeze the life out of custody business, insiders fear
Automated market-makers are already used for EUR/USD trades – now can they tackle settlement risk?
The move could be a big step forward for mainstream adoption of crypto NDF trading
Blockchain-based platforms from JP Morgan and Broadridge offer smart contracts that enable intraday repo
Current bankruptcy and margin ring-fencing rules are incompatible with direct clearing, FIA says
Newly confirmed commissioner says agency has the authority and precedent to police crypto markets
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Bills in US Congress focus on run risk, but more detail needed on operational challenges
Bow to policy-makers’ concerns about sanctions evasion or face reputational damage, says LSEG’s Schwimmer
Updates to Reg ATS would classify “communications protocol systems” as exchanges
Top dealers clear crypto futures for select clients despite smorgasbord of risks
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…
Business heads increasingly confident that trading will reside in their patch
CFTC and SEC officials say public debate needed on jurisdictional boundaries as investment ramps up
There seems little logic to the price of meme assets – but bold investors can protect themselves, says tech expert
Ex-Morgan Stanley, Winton vets reimagine institutional risk management for volatile crypto markets
This is the first paper that estimates the price determinants of Bitcoin in a generalized autoregressive conditional heteroscedasticity (GARCH) framework using high-frequency data.
The aim of this paper is to examine which payment instruments Canadians use for paying bills and to assess the factors driving their bill payment behavior.
Proposal would make US first Western country to regulate crypto exchanges and traders
Should a central bank take over the provision of e-money, a circulable electronic liability? The authors discuss how e-money technology changes the trade-off between public and private provision, and the trade-off between e-money and a central bank’s…
A common approach to classifying tokens is needed to prevent regulatory arbitrage, UK bank argues