MarketVoice News
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Startup Raises $32 Million to Fund Blockchain for Derivatives
Financial technology firm Axoni is proving that the promise of blockchain may live up to the hype. Axoni, a provider of enterprise blockchain technology that was founded in 2013, raised $32 million in a Series B financing in August. The funding round was led by Goldman Sachs and fintech-focused venture capital firm Nyca Partners. Other investors included well-known venture capital investors Y Combinator and Andreesen Horowitz as well as financial firms such as Citigroup, J.P. Morgan, NEX Group and Wells Fargo.
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SGX Targets OTC FX with Flexible Futures
FX futures trading is exploding at the Singapore Exchange, with volumes more than double last year's level, as the exchange benefits from structural changes in the FX market that are driving more business to central clearing. Recognizing this trend, the exchange is rolling out a new version of its FX futures contracts that provides more flexibility for OTC traders. The contracts has the same security and capital efficiency advantages as standard futures, but can be traded bilaterally with tailored expiration dates.
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Photo Gallery - IDX 2018
Photos from FIA's 11th annual International Derivatives Expo conference in London from June 4 to 6, 2018. FIA held sessions covering a broad mix of topics and strategic issues in the cleared derivatives industry, from the fintech developments in all parts of the value chain to the direct impact of MiFID II.
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Special Report: U.S. Treasury issues recommendations to promote fintech innovation
On July 31, the U.S. Treasury Department released a report on financial technology and innovation. The report is the fourth and final in a series drafted in response to an executive order issued by President Trump in February 2017. The 200-page report describes the dramatic advances in financial technology in recent years and makes more than 80 recommendations to promote innovation in financial services.
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Special Report: CFTC Nominee Passes Key Hurdle in Senate Confirmation Process
The Commodity Futures Trading Commission moved one step closer to having a full slate of commissioners on July 24, when the Senate Agriculture Committee held a hearing to review the nomination of Daniel Berkovitz, a derivatives lawyer who served as the CFTC's general counsel from 2009 to 2013.
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U.S. Lawmakers Aim to Foster Fintech in Derivatives Markets
Newly introduced legislation aims to improve the research and testing capabilities of the Commodity Futures Trading Commission, with the goal of helping the agency better understand and support emerging financial technologies.
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Special Report: CFTC Market Risk Advisory Committee Discusses Libor Transition
On July 12, the Commodity Futures Trading Commission hosted a meeting of its Market Risk Advisory Committee in Washington, D.C. to discuss the transition from the Libor benchmark used in U.S. dollar-based interest rate markets to a more robust alternative known as the Secured Overnight Funding Rate or SOFR, and the implications of this multi-year transition for derivatives markets.
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