Crypto News 

JPMorgan Automates Derivatives Margin Payments With Blockchain Tech

“In June 2019, major stock exchange operator Nasdaq successfully piloted a blockchain-based proof-of-concept (PoC) providing a 24/7 securities collateral solution” writes Helen Partz for cointelegraph.com. Major global investment bank JPMorgan has developed a new blockchain-based solution for derivatives designed to speed up cash and collateral transfers. The PoC reportedly enabled parties to handle the margin call, the securities collateral delivery and the return process within minutes.Blockchain technology has previously been used in collateral transfers.Integrated with JPMorgan’s proprietary automation system, the new solution reportedly eliminates manual intervention in the collateral process…

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News 

Dai Stablecoin Hits 100M Debt Ceiling Ahead of Collateral Protocol Upgrade

“The Dai (DAI) stablecoin has reached its 100 million token debt ceiling, meaning that there are currently 100 million Dai tokens minted” writes Aaron Wood for cointelegraph.com. The current Dai stablecoin, which is a single-collateral Dai (SCD), will become known as “Sai” when the MCD launches on Nov. 18.On Oct. 9, Rune Christensen, the CEO of the Maker Foundation announced that they would release a multi-collateral Dai (MCD) later this month.In July 2018, the Dai community voted to increase the debt ceiling to 100 million DAI by appointing a new…

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News Platforms 

Raiffeisen Among 18 Banks in First Global Tokenized Collateral Trial

“Twenty-eight organizations including Raiffeisen and 17 other banks have participated in the successful completion of the Ivno Global Tokenized Collateral Trial” writes Jack Martin for cointelegraph.com. This is the first global token trial on the R3 Corda platform, hosted on Microsoft Azure, as reported on Oct. 17.This represents the first global-scale trial on R3’s Corda platform.This was a live demonstration of how mobile collateral tokens can be used for instant settlement, collateral management and effective cash transfer. Source: cointelegraph.com

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Binary options fraudster Lee Elbaz faces lifetime sentence, seeks release ahead of sentencing

“Binary options fraudster Lee Elbaz, the former CEO of Israel-based Yukom Communications, wants to be released pending her sentencing in the United States” reports financefeeds.com. Between May 2014 and June 2017, Elbaz orchestrated a scheme to defraud tens of thousands of binary options clients out of over $100 million.She is suggesting that she post additional bond secured by collateral located in Israel.The government objects to the suggestion that pledging collateral located abroad would be sufficient to guarantee the defendant’s appearance or appropriate in this case. Source: financefeeds.com

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Nomura Research Institute updates securities back-office system I-STAR/CORE

“As a result of this latest system update to I-STAR/CORE, users can now set different collateral management and contract details according to each user company, client, and trade” reports financefeeds.com. Using a combination of I-STAR’s existing functions such as contract management, cash collateral and substitute collateral management and account attribute management, the new functionality enables the users to report automatically in compliant with the FSB’s guidelines. Source: financefeeds.com

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Crypto News Platforms 

Financial Firm Offers ‘Almost Instantaneous’ Loans Up to $30,000 With Crypto as Collateral

“A financial company is giving crypto holders the opportunity to take out cash loans while using their digital assets as collateral” writes Connor Blenkinsop for cointelegraph.com. Meanwhile, YouHodler believes its product helps traders leverage their crypto portfolio with additional cash in order to buy further digital assets.Six cryptocurrencies are accepted as collateral, including Bitcoin, Litecoin, Ethereum, XRP, Bitcoin Cash and BSV. Others, including XLM, Dash and ZCash, are said to be in the pipeline. Instead, the platform wants to adopt a more user-friendly, fast and sustainable approach than old-fashioned institutions…

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Eurex Clearing Adds Katja Renner to Fixed Income Sales Team

“Before joining Eurex Clearing, Renner was working as a consultant on financing, liquidity and collateral management in London” writes Celeste Skinner for financemagnates.com. Before her tenure at Citi, Renner worked in fixed income and equity repo, stock loan sales and trading at LBBW where she was the Assistant Vice President. Source: financemagnates.com

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Crypto Markets News 

Fintech Firm Launches App For Crypto Owners to Trade All Markets Without Any Fees

“When users post collateral in crypto, Quantfury offers fiat trading power of up to 20 times the collateral amount” writes Connor Blenkinsop for cointelegraph.com. However, they cannot incur losses greater than their crypto collateral value at any given time.A fintech company is taking on the retail trading industry and giving crypto owners the opportunity to use digital currencies as collateral and to trade across markets with fiat funds — avoiding any commissions or fees.He said: “A lot of retail trading platforms/brokerages try to sell the idea of a fair and…

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Markets News Stocks 

China investors fear too much stock is being used as collateral, a big market drag

“This time around the concern centers on companies and shareholders that have pledged stock as collateral for loans” writes Deputy Markets Editor for marketwatch.com. Using official data, the UBS analysts estimated the amount of shares pledged for collateral at 4.2 trillion renminbi ($605.33 billion), equal to around 10% of total market cap.As in 2015, that runs the risk of kicking off a vicious cycle, in which falling stock prices leads to forced selling as pledged shares are liquidated, in turn leading to further falls in stock prices.Around 800 billion to…

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AUD Markets News 

Australia’s currency decline is collateral damage in Trump’s trade war

“There is a weak relationship between Australian dollar weakness and U.S. dollar strength” writes Daryl Guppy for cnbc.com. Well the answer is now in, and it’s the Australian dollar.The Australian dollar broke the long-term uptrend in April and quickly developed a substantial downtrend.The collapse of the AUD pointed the way for the substantial retreat in the Australian market.Rather, the impact on the Australian dollar flows from revelations about the country’s financial sector and the fallout from Trump’s ramping up for tariffs. Source: cnbc.com

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