News Platforms 

Catena Chosen by Southern Ridges for MAS OTC Reporting

“Catena Technologies announced this Thursday that Singapore-based investment management firm, Southern Ridges Capital, has selected its TRACE trade reporting platform in order to report over-the-counter (OTC) derivatives trades to the Monetary Authority of Singapore (MAS)” writes Celeste Skinner for financemagnates.com. We look forward to working in partnership to roll out Catena’s off-the-shelf MAS trade reporting solution.”. The TRACE Reporting solution allows financial firms to report over-the-counter (OTC) derivative trades to regulators through trade repositories around the world.The platform handles trade reporting requirements related to cross-asset coverage, valuation, collateral reporting, reconciliation,…

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News 

GMO Click Also Struggles with FX OTC Volumes in October

“GMO Click, the retail brokerage unit of Japanese IT giant GMO Internet, has published its over-the-counter (OTC) foreign exchange (forex) trading for October this Wednesday” writes Celeste Skinner for financemagnates.com. Moving on, GMO Click also reported its on-exchange forex volumes for the month of October.Specifically, when taking a look at the company’s trading volumes in the United States dollar, the firm reported an OTC forex trading volume of $646.5 billion.So far, many trading providers and brokers have published mixed trading volumes for the month of October.That’s because, on a year-on-year…

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Crypto Markets News 

Tether’s Red Dragon: Why USDT is Dominating Chinese Markets

“The explosion of usage of USDT in Chinese crypto markets has also been reflected in the other coins that Chinese traders are using the Tether dollars to purchase–primarily, Bitcoin” writes Rachel Mcintosh for financemagnates.com. Dovey Wan tweeted that “this may impact local liquidity to quite some extent.” The popularity of USDT in Chinese crypto markets has also been demonstrated by the development of a premium price for USDT on OTC platforms.While a wave of bullish activity in cryptocurrency markets can explain much of this, a great deal of new USDT…

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Crypto News 

Alipay Denounces Bitcoin OTC Trading: Regulatory ‘Gray Area’ in China

“Indeed, following the 2017 trading and ICO ban, reports began to emerge of growing P2P Bitcoin trading in China” writes Osato Avan-nomayo for cointelegraph.com. These exchanges reportedly mask such activities by using the guise of running a P2P trading desk for the BTC/USDT trading pair.While the Alipay/Binance situation was unfolding, a Twitter account named Blocfilo posted some startling revelations about the Chinese crypto trading scene.There are even reports that major crypto exchanges use these backchannel avenues to conduct P2P Bitcoin trading in China.Earlier in October 2019, Binance announced a fiat on-ramp…

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ASIC keeps responding to high incidence of misconduct in retail OTC derivatives sector

“In April 2019, for instance, ASIC conducted an extensive information-gathering exercise of the licensed entities active in retail OTC derivatives, covering 18 areas” reports financefeeds.com. ASIC also worked to ensure that retail OTC derivatives providers are complying with foreign laws.The Australian Securities & Investments Commission (ASIC) has earlier today tabled its Annual Report for the 2018-19 financial year in the Australian Parliament.Information obtained is set to help ASIC address key themes and concerns in the sector. Source: financefeeds.com

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Binance Launches P2P Trading for Chinese Yuan

“Major cryptocurrency exchange Binance has launched peer-to-peer trading for Bitcoin (BTC), Ether (ETH) and Tether (USDT) against the Chinese Yuan (CNY)” writes Marie Huillet for cointelegraph.com. Binance CEO Changpeng Zhao has indicated in a tweet that Binance’s foray into P2P trading won’t stop with the Chinese market: As Cointelegraph previously reported, Binance also plans to launch an over-the-counter (OTC) trading platform in October — likewise initially CNY-exclusive.The exchange already runs an OTC trading desk for large-scale investors which raked in solid profits earlier this year.Both OTC trades and P2P functionality…

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Brokers Crypto News Platforms 

Crypto Exchange Coindirect Launches OTC Brokerage in South Africa

“As industry news outlet CoinInsider reported on Sept. 27, the platform creates a vast liquidity pool by integrating with global platforms, allows for Bitcoin (BTC) price locks after a confirmation and for instant processing with no fees or slippage” writes Adrian Zmudzinski for cointelegraph.com. The exchange’s COO Nic Haralambous added: “During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading.Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a…

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Crypto News Platforms 

Binance.US to Launch Trading Tomorrow With 13 Currency Pairs

“Binance.US will launch 13 fiat-to-crypto and crypto-to-crypto trading pairs, according to a blog post on Sept. 23” writes Eric Zabelin for cointelegraph.com. Binance.US, the United States-based arm of major crypto exchange Binance, will start trading on Sept. 24, offering zero trading fees until Nov. 1.The approaching launch of Binance.US comes the same day that Binance is expected to list another altcoin on its major platform.The trading pairs include major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and the Tether (USDT) stablecoin.China…

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Crypto Markets News 

‘Bad things could happen’: Turning to tech to tame the crypto jungle

“Over-the-counter (OTC) trading – buying and selling through a broker – is now beginning to change, however” writes Midwest Communications Inc for 95kqds.com. Brokers estimate the OTC market typically accounts for 10% to 30% of global volumes on any given day.The OTC market blossomed as bitcoin’s value soared during its 2017 bubble.Global cryptocurrency trading volumes are highly erratic.”Things have shifted quite rapidly toward electronic trading,” said George Zarya, CEO of London-based cryptocurrency exchange BeQuant, which also runs an OTC desk and is planning to switch toward automation. Source: 95kqds.com

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Crypto News Platforms 

Off-Exchange or OTC Crypto Trades Now Available on Gemini Clearing

“The Winklevoss brothers-led Gemini crypto exchange has introduced its new clearing and settlement product Gemini Clearing” writes Helen Partz for cointelegraph.com. Gemini announced the new clearing and settlement solution in a blog post on Sept. 5, explaining that the Gemini Clearing allows traders to negotiate off-exchange or over-the-counter (OTC) crypto trades using Gemini accounts.According to the announcement, off-exchange or OTC trades on Gemini Clearing platform can be carried out both between two parties or through third-party brokers.Gemini Clearing is a fully digital platform providing regulated clearing and settlement services for…

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