Tech and data
Asia keener to adopt mobile FX trading – BidFX
Fintech firm updates mobile app to offer more features; security concerns represent major development challenges
Brainard: US must review payments system oversight
Big tech’s currency plans could weaken payments oversight – senior Fed official
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
Cambodia’s blockchain payment network will go live in early 2020
Bakong could be linked with other Asean countries as cross-border transfers are part of project’s next phase
Baton rounds out funding with $4m Illuminate investment
DLT firm plans Asia expansion due to demand for delivery of assets in Asian and non-CLS settled currencies
Nomura advances AI trading platform for FX and fixed income
Over the next year the bank will converge its trading desk infrastructure to create a cross-asset class system
Stablecoin threat to monetary sovereignty – WEF panel
Panellists discuss delicate balance needed between private and public sector regarding digital money
Emerging market central banks keener to issue CBDCs – BIS
BIS survey shows central banks shifting emphasis from wholesale to retail CBDCs
StanChart’s e-FX trading engine goes live in Singapore
Trade latency has been cut by more than 80%, Standard Chartered says
USC to kick-start trading of digital assets, says UBS
Chris Purves says first test trades using utility settlement coin likely in first half of 2020
HK and Thailand launch next phase of cross-border CBDC project
CBDC-based payments can cut costs and boost speed, HKMA and Bank of Thailand study shows
Cœuré and Cunliffe to lead research group on CBDCs
Six central banks and BIS will explore use cases and share knowledge
Colombia culls external reserve manager to boost competition
From 2016–18, the central bank reduced the number of institutions from seven to six
Barclays finds blockchain nirvana in USC
Utility Settlement Coin could transform financial markets, but first its backers must prove it is secure, says the bank
Banks aim to reach more Asia FX clients with Symphony/WeChat app
Main benefit of Symphony on WeChat is ease of communication on a platform traders use regularly, says BNPP
RBA: stablecoins must wait until framework in place
Australian central bank says it may step up CBDC research efforts this year
Rise of the algo wheel
How the buy side is embracing algorithm wheels and where challenges still remain
ECB paper offers tiering solution to CBDC structural concerns
Separating CBDC functions could disincentivise use during crisis, but disintermediation of banking sector still a risk
Bahamas rolls out first phase of CBDC pilot
Pilot will extend to rest of country after June, says governor Rolle, depending on Exuma and Abaco case studies
Eurochain: CBDC project seeks secure anonymity
Proof of concept blends anonymity with AML/CFT regulation
Banks look to virtual data warehouses to unify trading desks
Adding a virtual layer could help take the burden off the traditional data warehouse
Riksbank to work with Accenture on e-krona pilot
First year will see development of user interface for mobile, card and watch-based payments
CBDC talk has been “overhyped” – former RBI deputy
Focus on retail CBDCs is potential distraction from core central banking functions, says Sinha
Vanguard: automation is great until it doesn’t work
Andy Maack, head of FX trading, talks about the future of trading, algos and diversity