Digital currency
‘Repo by the minute’ could reshape lending – but not quite yet
Blockchain-based platforms from JP Morgan and Broadridge offer smart contracts that enable intraday repo
FTX proposal prompts calls for CFTC rules review
Current bankruptcy and margin ring-fencing rules are incompatible with direct clearing, FIA says
CFTC best-placed to regulate digital assets – Pham
Newly confirmed commissioner says agency has the authority and precedent to police crypto markets
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
Stablecoins’ would-be lawgivers don’t know what they’re missing
Bills in US Congress focus on run risk, but more detail needed on operational challenges
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
SEC proposal could mandate crypto venue registration
Updates to Reg ATS would classify “communications protocol systems” as exchanges
Banks offer crypto clearing but, shhh, don’t tell
Top dealers clear crypto futures for select clients despite smorgasbord of risks
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…
Bank FX teams eye slice of crypto derivatives action
Business heads increasingly confident that trading will reside in their patch
Congress must fix crypto rules perimeter, say policy-makers
CFTC and SEC officials say public debate needed on jurisdictional boundaries as investment ramps up
If dogecoin goes to the moon, a risk manager should go too
There seems little logic to the price of meme assets – but bold investors can protect themselves, says tech expert
Quant fund aims to tame bitcoin, and 39 other digital assets
Ex-Morgan Stanley, Winton vets reimagine institutional risk management for volatile crypto markets
The price of Bitcoin: GARCH evidence from high-frequency data
This is the first paper that estimates the price determinants of Bitcoin in a generalized autoregressive conditional heteroscedasticity (GARCH) framework using high-frequency data.
An empirical analysis of bill payment choices
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.
CFTC’s Behnam wants federal oversight of crypto markets
Proposal would make US first Western country to regulate crypto exchanges and traders
Should the central bank issue e-money?
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…
Barclays proposes new taxonomy for digital tokens
A common approach to classifying tokens is needed to prevent regulatory arbitrage, UK bank argues
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
SocGen’s digitised bond passes settlement test
Banque de France-backed deal pips private consortiums in dummy run for digital currency trades
‘Quantamental’ approach convinces Morgan Creek CEO
Proponent of big-picture investing sees growing role for machines, but with caveats
Bank disruptors: a ‘token’ effort from UBS
The utility settlement coin will kick-start trading of digital assets, says Chris Purves
Bank disruptors: tread carefully and bend things
How BofA, SocGen, JP Morgan, Nomura, UBS and others are disrupting themselves
Bank disruptors: Barclays finds blockchain nirvana
USC could transform financial markets. But first, backers must prove it is secure