Brokers Crypto Markets News Platforms 

Cumberland Launches Crypto Trading Platform for Institutions

“Cryptocurrency trading firm Cumberland announced on Tuesday that it has launched a spot trading platform for its customers” writes David Kimberley for financemagnates.com. Called Marea, the new platform will allow clients to place orders online and interact with members of the Cumberland team.With retail interesting petering out, market makers, brokers and exchanges are turning their attention to the institutional trading world. In some ways, pursuing the latter model could be a positive for the cryptocurrency trading world as lots of poorer investors losing money tends to lead to greater regulatory…

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Large asset managers are thinking about farming off some of their trading desks, and it could be a gold mine for custodian banks and prime brokers

“The external trading groups are often part of investment banks, prime brokers, asset managers, and custodian banks, which typically charge a fee of five basis points per trade” writes Meghan Morris for businessinsider.com. Marenzi has also spoken with a number of large Japanese managers that are considering other companies for their US equities trading.That trader can handle about $1.5 billion worth of annual equities trading, so for strategies with smaller volume, it may make more sense for another company to handle these trades.The asset management industry has faced a tough…

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News Stocks 

Marijuana stocks are mixed with Canopy Growth and Hexo in focus

“The website said the proposed bill would tax cannabis by the ounce, rather than imposing a flat sales tax that state Senate President Stephen Sweeney opposed” reports etfdailynews.com. From Ciara Linnane : Cannabis stocks were mixed on Tuesday, amid a flurry of announcements on the progress of medical and recreational-use bills around the U.S. Pennsylvania’s medical cannabis businesses made at least 600,000 transactions in its first year, allowing 83,000 patients access to the substance, Gov.Among individual stocks, Canopy Growth Corp. shares CGC, -2.92%WEED, -2.79%  fell 2.8% in morning trade. Source: etfdailynews.com

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News Stocks 

The Fate of Bank Stocks Amid Quantitative Tightening

“Given the extrapolated performance of bank stocks, deregulation, quantitative tightening (interest-rate hikes), and a booming US economy do not seem to be having the desired effect on bank stocks” writes Finance Magnates Staff for financemagnates.com. Based on current trends, interest rates are set to rise modestly in 2019, which should propel bank stocks in the process.According to SelectUSA.gov, the financial services industry in the US comprised 7.5% of US GDP (gross domestic product) in 2017.Consider that in 2017, US financial services and insurance exports amounted to $114.5 billion.It is largely…

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trueDigital Appoints Bridgewater’s Thomas Kim as CEO

“Financial technology provider trueDigital, a subsidiary of swap execution facility operator TrueEX, announced on Tuesday that Thomas Kim has joined the firm as Chief Executive Officer (CEO)” writes David Kimberley for financemagnates.com. This will be instrumental as we double down on our ambitions to innovate, grow and scale.” Kim joins the financial technology company from Bridgewater Associates, an American investment management company, where he spent seven years.Prior to that, Kim also spent time at a number of major financial institutions, including Lehman Brothers and UNX. According to a statement released…

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We asked 8 Wall Street recruiters about the hottest trends in hiring across banking, trading, hedge funds, and asset management

“Here’s what recruiters say are the hottest trends driving hiring on Wall Street in 2019” writes Meghan Morris for businessinsider.com. Sign up here for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals. Source: businessinsider.com

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Powerful East hasn’t changed bettors’ feelings for NBA’s power team

“In trading for Harrison Barnes prior to the deadline, the team showed it was seriously trying to make a postseason run” writes Jonathan Von Tobel for nypost.com. Twenty-five games is a long time.” If the Warriors and Thunder are both healthy, Bogdanovich says he would at least give the Thunder a shot.Yet, there are four teams in the East capable of winning the conference, and the best player in the world is in danger of missing the postseason. Source: nypost.com

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Crypto Markets News 

Bitcoin Forms Green Candle on Monthly Chart After 6 Months

“As of the time of this writing, Bitcoin is on an up trend, trading at $3,828.50, marking a 2.29% change in 24 hours” reports livebitcoinnews.com. Among the top ten digital assets, Ethereum (ETH) has posted the biggest gain, seeing a 10.41% 24-hour change, trading at 139.14 to the US dollar.The upward movement has seen its market capitalization grow from USD $64 Trillion to $USD 65.9 Trillion, owning 52.14% of the total cryptocurrency market cap.Ethereum is followed by Bitcoin Cash (BCH) with 6.68% growth, and EOS (EOS) recording a 4.34% increase.Bitcoin’s…

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Crypto Futures Markets News 

Indonesia Launches Regulatory Framework for Crypto Futures Market

“The new regulatory framework announced today is comprised of numerous major rules for operators in the crypto futures space” writes Celeste Skinner for financemagnates.com. Operating under Indonesia’s Ministry of Trade, the regulator has stated that cryptocurrency futures exchanges wanting to operate in Indonesia, must be registered and approved before they can commence operations.The regulation announced today, follows on from reports released back in June of last year, that cryptocurrency futures trading is legal in Indonesia.The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) announced via an official press release that it…

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Crypto News 

CFTC Commissioner Brian Quintenz Suggests Creation of Crypto Self-Regulatory Organization

“United States Commodity and Futures Trading Commission (CFTC) commissioner Brian Quintenz has suggested that participants in the cryptocurrency industry should create a self-regulatory structure” writes Adrian Zmudzinski for cointelegraph.com. Securities and Exchange Commission (SEC) commissioner Hester Peirce, who was also a speaker at the panel, reiterated how confusing the current regulation of the crypto industry is.Still, the CFTC commissioner also pointed out that “a self-regulatory organization is specifically chartered by Congress through the law,” while this would only be a mutual association of private companies participating in the industry. Source: cointelegraph.com

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