Markets News 

HSBC, SGX and Temasek Explore Distributed Ledger Tech in Asian Bond Market

“Global banking giant HSBC will explore the use of blockchain for the issuance of fixed income securities in a joint trial with Singapore Exchange (SGX) and investment firm Temasek” writes Helen Partz for cointelegraph.com. Focused on the Asia bond markets, the trial intends to streamline the bond issuance process and reduce associated costs by applying tokenized securities and smart contracts, HSBC Singapore announced Nov. 13.Tony Cripps, CEO at HSBC Singapore, said: “The potential of DLT is an evolving story, and its role in overcoming inefficiencies in the fixed income market…

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Crypto News 

Archax to Provide Liquidity Service to HighCastle

“HighCastle, a share registrar and investment marketplace, has entered into a strategic partnership with Archax to increase the secondary market liquidity of digital securities issued by it, the company announced on Wednesday” writes Arnab Shome for financemagnates.com. HighCastle offers varied services with digital securities including prime issuance, registry, and settlement distribution network known as Primenet.The blockchain network is based on a permissioned consensus mechanism that makes it secure and suitable for investment firms, brokers, and exchanges.It is planning to tokenize all types of assets including equities of private companies, debts,…

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Markets News 

Sarwa Capital to close 2nd phase of securitisation NUCA bonds this month

“Regarding Sukuk issuances, El-Sawy said that Sukuk issuance face the challenge of raising awareness of Sukuk” writes Alyaa Stohy for dailynewssegypt.com. Sarwa Capital issued in March a securitisation bond portfolio for the securitisation of futures valued at EGP 760m for Palm Hills Development.Besides leading securitisation operations, the company is seeking over the next year to undergo a new experience in the successful issuance of Sukuk.The first is the second phase of the securitisation of the New Urban Communities Authority (NUCA) worth EGP 4bn. Source: dailynewssegypt.com

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Crypto News Platforms Stocks 

London Stock Exchange Invests in Bond Tokenization Startup

“London Stock Exchange Group (LSEG) today made its first investment in enterprise blockchain, leading a $20 million Series B in Nivaura, a London-based startup working to automate tokenized bond issuance on the Ethereum network” writes Aziz Abdel-qader for financemagnates.com. Earlier this month, the operator of the Swiss Stock Exchange, SIX Group, said it will launch its new blockchain-powered exchange, dubbed SIX Digital Exchange (SDX), in the second half of 2019.Nivaura enables owners of cryptocurrencies to borrow fiat funds via the issuance of crypto asset-backed bonds. The technology has already been deployed…

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Crypto News 

Thai Parliament Approves Amendments Allowing Issuance of Tokenized Securities

“The Thai Securities and Exchange Commission (Thai SEC) will issue additional rules so that crypto platforms can seek a securities depository license” writes Ana Berman for cointelegraph.com. Earlier this year, the Thai Ministry of Finance issued digital asset business licenses to four crypto-related firms under the recommendation of the Thai SEC Board.Previously, the aforementioned act defined Thailand Securities Depository Co Ltd, a subsidiary of the Stock Exchange of Thailand (SET), as the only company permitted to operate as a securities depository for the SET’s securities trading operations. Source: cointelegraph.com

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Markets News 

The risky ‘leveraged loan’ market just sunk to a whole new low

“The leveraged loan market just set a new record: The quality of investor protections in this market just hit a new all-time low” writes Jim Edwards for businessinsider.com. Leveraged Commentary & Data/S&P Global Market Intelligence In Europe, the situation was even worse. 87% of leveraged loans were “cov-lite.”. Leveraged Commentary & Data/S&P Global Market Intelligence Last year, $452 billion in new cov-lite issuance was added to the market.A leveraged loan is risky because it is “leveraged” against the private-equity group’s money and its ability to turn a struggling company around…

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News 

China says will step up fiscal spending this year to support economy

“BEIJING (Reuters) – China will step up fiscal spending this year to support its economy, focusing on further cuts in taxes and fees for small firms, finance ministry officials said on Wednesday” writes Midwest Communications Inc for 95kqds.com. China’s fiscal spending rose 8.7 percent to 22.1 trillion yuan ($3.3 trillion) in 2018, while revenue increased 6.2 percent to 18.3 trillion yuan, said Li Dawei, an official at the finance ministry.Special purpose local bond issuance is expected to be completed by September, Hao said. Source: 95kqds.com

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Crypto News 

Egypt’s Central Bank Conducting ‘Feasibility Studies’ Around Digital Currency Issuance

“The central bank of Egypt wants to introduce a digital version of the Egyptian pound to reduce costs, local English language news outlet Amwal Al Ghad reported Dec. 16” writes William Suberg for cointelegraph.com. In line with various authorities in the vicinity, Egypt believes a blockchain-based digital version of its fiat currency can help keep issuance and transaction costs to a minimum compared to coins and banknotes, Amwal Al Ghad notes. Source: cointelegraph.com

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News 

China’s local government debt sales is reaching annual limit amid greater fiscal support

“Local government debt swaps reached 148.3 billion yuan in October, the ministry said, compared with 44.1 billion yuan in September” writes Vcg Visual China for cnbc.com. China has capped outstanding local government debt issuance at 21 trillion yuan for 2018.In October, China’s local governments issued 256 billion yuan ($36.94 billion) in debt, according to the ministry, down from 748.5 billion yuan in September and was the lowest since March.Outstanding local government debt reached 18.4 trillion yuan at end-October, the ministry added.New general purpose bond sales meanwhile stood at 798 billion…

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