News and Notes

WFE warns that DLT settlement may raise transaction costs with negative price impact

FSB weighs expanding private repo markets for CP and CD collateral

CACEIS launches digital assets business for tokenized finance

ICMA publishes 2 proposals for pair-offs and error trades

CME launches corporate bond repo trading venue to bolster market liquidity

FDIC Chair Greenberg will resign once successor is named, paving the way to US Basel III Endgame proposal rejection

ISLA’s Rayner provides details on CDM progress

ADIA and Spain’s Minsait to develop ethical and sustainable AI

NY Fed adds repo and SRF counterparties

ISLA incorporates ISLA Americas and announces first Board Directors

People moves: Apex, BCBS, CFTC, Citi, DBS, Deutsche Börse, ESMA, ICMA, Morgan Stanley, SEC, Vanguard

ISSA: DLT project success has common themes and practices

DTCC: “Smart NAV” DLT pilot with 10 banks and Chainlink can boost mutual fund tokenization

GLEIF: LEI at forefront of combatting identify-related fraud

World Bank lists CHF200mn digital bond on SDX settled in SNB’s wCBDC

BCBS weighs risks of financial digitalization

QSE and Edaa conduct first onshore SBL with HSBC as agent lender

ECB: bank funding costs increase while composition shifts to more expensive instruments

ESMA takes aim at “greenwashing” with new guidelines – fintech commentary

Commerce Bank goes live on FedNow with Temenos SaaS in cloud

Eurex to connect GC Pooling with Clearstream Triparty via VERMEG ahead of ECMS

AIMA: EU’s Withholding Tax Directive a positive step towards CMU

ICMA: Europe’s repo market grows 5% yoy to hit ATH at €10.9tn

Broadridge’s DLR to use JPM Coin as settlement mechanism in June

SDX survey shows market interest prioritizes tokenizing hedge funds and fixed income

Barclays goes live on CLS’ cross currency swaps service

OSTTRA prepping market for CORRA to CDOR transition

DTCC analysis shows 83.5% of transactions affirmed by T+1 cut off time

IIAC: Bank of Canada warns on hedge fund repo borrowing

MarketsMedia: collateral mobility among “powerful use cases” for tokenization

Fed’s Cook says hedge fund leverage at “high end of its range”

BBVA trials distributed quantum simulation in AWS cloud for complex financial tasks

BBH’s Whelan on global implications of EU’s DORA

People moves round-up: AIMA, ECB, FSB, Goldman Sachs, Houlihan Lokey, SEC, SocGen, UBS, Wematch

Finteum receives UK FCA registration

MarketsMedia: KfW to issue first blockchain-based digital bond in Q3 2024

SIFMA: Major US banks to test multi-asset shared ledger settlement with USD

Institutional Investor: US SEC paid out $300mn to short sellers for whistleblowing

Goldman Sachs launches alternative lending for RIAs

ECB gears up for cash leg settlement in tokenization strategy

SOMA’s Perli on balance sheet reduction progress and repo indicators

Provable markets raises $8mn led by Dialectic CM

LGI taps NeoXam for data optimization across middle/back office

Yahoo: BoE postpones repo operation on tech issues

BNP Paribas first EU GSIB to be approved as LEI validation agent

ESMA consults on UCITS eligible assets directive, including for short sales

South Korea finds 9 banks illegally shorted 164 stocks

OFR issues rule for non-cleared bilateral repo data collection

Clearstream adds central bank money settlement for uncleared triparty repos

People moves round-up: BNP Paribas, Caixabank, Cboe Clear, CFTC, CIBC, Clear Street, Fidelity Prime, FNZ, HSBC, ISSA, MarketAxess, OCC, Provable Markets, Xceptor