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Author Archives: Jim Kharouf

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Kharouf is a Chicago-based freelance reporter and editor who was previously CEO and editor-in-chief of John Lothian News.

DB1’s Ankur Kamalia: Fintech Venture Capital Is All About Collaboration Standard

Deutsche Boerse started DB1 Ventures about 2 ½ years ago with the goal of finding new fintech firms that complement the exchange’s wide-ranging technologies but also show potential to grow well beyond that. Ankur Kamalia, managing director, head of venture portfolio management at DB1 Ventures, said his group is looking at everything from post-trade to new trading platforms to regtech firms. “We wanted to start DB1 to take on investments outside Deutsche Boerse Group and with the desire to be much more aligned with the product, design and innovation strategy going forward,” Kamalia said. He added that DB1 believes a…

Crypto Regulation Is Just Getting Started Standard

One thing is certain about regulation of cryptocurrencies and other digital assets. We’re in the earliest of stages. And we’re caught between industry participants clamoring for clarity and regulators taking varied and measured approaches. It’s an awkward time for this markets as new ideas and uses for initial coin offerings range from the next great financial payment system on blockchain to the world’s first blockchain toothbrush that lets you mine coins by brushing your teeth. Last month, the Institute For Financial Markets hosted its second Smart Regulation Roundtable event, Implications of Cryptocurrencies, which covered just where we are and where…

The Dawn of Crypto Regulation Standard

cryptocurrency dollar

On April 11, 2018, regulators, academics and market users gathered in Washington DC to discuss the issues, challenges and future of regulation for the digital asset space. Titled “Smart Financial Regulation Roundtable: Implications of Cryptocurrencies,” the program featured three separate sessions: The first session: The State of Play in Cryptocurrencies – What are cryptocurrencies and how are they being used and regulated? The second session: The Regulatory Response to Cryptocurrencies – What should regulators and policymakers do to help cryptocurrencies achieve their potential while minimizing risk? The final session: A Fireside Chat with CFTC Commissioner Rostin Behnam and Brian Knight,…

TT Appeals to the Crypto Masses with New Crypto Only Trading Platform Standard

In another sign Trading Technologies is going all in on the cryptocurrency space, it announced today a new trading platform just for digital currencies called TT Crypto. Mike Unetich, vice president of cryptocurrencies at TT, said the move could be a game changer for the company. The firm expects initial users to come from its existing customer base, as some users were prevented from trading cash crypto for their own account on the traditional TT platform. This allows some high-powered traders who want to trade bitcoin, litecoin, ethereum and other digital currencies to use essentially the same platform they use…

Treasury Pushing For Capital Rule and Volcker Changes Standard

Paul Volcker

The US Treasury Department is addressing capital intensive rules that have constrained market participants from capital markets to community banks under the Volcker rule. Craig Phillips, counselor to US Treasury Secretary Steven Mnuchin, speaking at the WFE IOMA conference in Chicago last Friday, said the department is looking at a variety of issues and challenges for market participants, ranging from restrictive leverage ratios and how those are calculated, to easing restrictions on banks and institutions in the capital markets to promote liquidity, to changes in the Volcker Rule. The Senate recently passed the Economic Growth, Regulatory Relief and Consumer Protection…

The Future of Exchanges Will Feature More Collaboration, WFE Report Says Standard

Exchanges will have to spend more, share more and collaborate more in the coming years, according to a published report from the World Federation of Exchanges (WFE) and Oliver Wyman. The report, issued on Thursday at the 35th IOMA: The WFE’s Clearing & Derivatives Conference in Chicago focused on the recent trends for the exchange, CCP and market infrastructure providers since the 2008 financial crisis. It points out that five key themes will emerge in the coming decade: higher standards for market integrity; surveillance and supervision as both a regulatory function and customer service; broad industry cooperation and collaboration; near…

So You Have A Token, Now What? OpenFinance Network Aims To Offer Trading, Clearing And Settlement All On the Blockchain Standard

For those who believe that blockchain for markets is years away, there are some examples that are here and now. OpenFinance Network launched a blockchain-based clearing and settlement platform this month aimed at token-based securities in the alternative investment space. What OFN is aiming for is to improve the trading, clearing and settlement for alternative assets that are clunky, fragmented, opaque and frustratingly slow for transactions. The Chicago-based firm comes from the team that built CFX Markets, an online platform that has been focused largely on the private Real Estate Investment Trust market. By creating a trading and clearing platform…

Kids Rock The Market: Magnetar’s Trading Challenge Brings Financial Education To High Schools Standard

When you enter Chicago’s Navy Pier Grand Ballroom for the Magnetar Team Challenge, something feels right – about education, about learning, about our kids and our future. Inside the beautiful and towering landmark space, 34 high schools brought 48 teams and more than 400 students to compete for the best high school trading team in the Chicagoland area. Each team of five to seven students huddled around computer screens at each table to plan and execute a trading strategy on an undefined previous trading period using $100,000 in a simulated stock portfolio. Each team was supported by teachers plus more…

Would You Wait Six Months To Get A Bitcoin Account? TT’s Michael Unetich Outlines The Crypto Obstacles And Opportunities Ahead Standard

Michael Unetich is seeing cryptocurrencies from both sides – as a trader and now on the service side as vice president of cryptocurrencies at Chicago-based Trading Technologies. He joined TT last September, his second stint with the firm, and is helping it break into new territory. The firm signed a deal in January linking TT to Coinbase’s GDAX exchange. JLN’s Jim Kharouf sat down with him at FinTank’s CryptoCon event in Chicago last month to find out where this asset class is going and the many things it still needs to grow. Q: Where are we in the crypto markets?…