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Asia Pacific Financial News from John Lothian News – December 6, 2017 Standard

Lead Stories ASX selects distributed ledger technology to replace CHESS Reuters Staff Australia’s main bourse ASX Ltd on Thursday said it would replace its existing technology used to record shareholdings and manage the clearing and settlement of equity transactions in Australia, with blockchain developed by its technology partner Digital Asset (DA). https://goo.gl/K4CaCG ASX Selects DLT to Replace CHESS – Media Release 7 December 2017 ASX https://goo.gl/by7MVW China’s financial sector opening raises prospect of talent war Sumeet Chatterjee – Reuters In the last two years, more than 30 global asset managers have been awarded licences to set up wholly-owned units in…

The Silent Screams of the Bitcoin Shorts Standard

If bitcoin were a standard commodity or securities instrument, headlines would be screaming about how the “shorts” were being squeezed. With bitcoin in a parabolic price rise, some calling it a mania, there are no shorts to scream bloody murder. Many commodities and companies have key constituents who apply political pressure when futures markets are moving so sharply that common sense tells you there is something wrong or unbalanced happening in the market. Sometimes rules are changed or obscure procedures exercised at futures exchanges in order to accommodate an orderly liquidation of positions in cases where the powers that be…

Asia Pacific Financial News from John Lothian – December 5, 2017 Standard

Lead Stories Trump’s Tax Plan Triggers Ire From China to the EU By Mark Deen , Birgit Jennen , and Viktoria Dendrinou – Bloomberg European Union finance ministers to review U.S. legislation Concern that tax cut could violate global trade, tax rules As legislators in Washington work to get the most sweeping rewrite of the U.S. tax code in three decades, regions including the European Union and China are expressing their concern that the bill may not comply with international rules and frustration about the effect it may have on local markets. https://goo.gl/2dx6Ee Tokyo Financial Exchange Takes First Step Toward…

Cboe Throws Launch Date Punch at Crosstown Rival CME Standard

Aren’t people supposed be getting into holiday mode? Isn’t December supposed to be slow, with nothing but junior staff running around trying not to mess things up?  In the cryptocurrency space, that’s clearly not the case. The CFTC on Friday said CME Group and Cboe Global Markets were okay to launch their respective bitcoin futures products through the self-certification process. CME quickly announced it would launch bitcoin futures on December 18, and then on Monday morning, Cboe announced a December 10 launch date and free trading for the first month to help the contract gain traction. Cboe’s contract will trade…

Asia Pacific Financial News from John Lothian News – December 4, 2017 Standard

Lead Stories Asia To Stay World’s Fastest-Growing Region Through 2030; Asia should remain the world’s economic heavyweight for another 10 years. By Anthony Fensom – The Diplomat The global economy is continuing its gradual recovery from the financial crisis, with the latest data pointing to a broad-based pickup. However, longer term Asia is seen maintaining its position as the fastest-growing region, with China and India leading the charge. https://goo.gl/ezD1pP China Likely to Overtake U.S. as Largest Importer Within 5 Years; Shift to a more consumer-focused economy causing the change, CICC researchers say Bloomberg News From iron ore to baby formula,…

Asia Pacific Financial News from John Lothian News – December 1, 2017 Standard

Lead Stories Trump puts talks to boost China economic ties on ice; Treasury’s David Malpass says Beijing is not liberalising economy as hoped Sam Fleming in New York and Shawn Donnan in Washington – FT Donald Trump’s administration has put its main programme for bolstering economic relations with China on ice as it complains about the two countries’ swollen trade imbalance, and says Beijing’s efforts to liberalise its economy have gone into reverse. https://goo.gl/mgZrfy   What’s in Asia’s New Anti-Terror Financing Group?; A recently formed working group is just the latest step taken by regional states to confront terrorism financing….

Putting on My Broker Hat About Bitcoin Standard

Everyone is asking about bitcoin. A journalist called and asked to interview me. A magazine called and asked me to write something. A brokerage firm chief risk manager called to ask me my opinion about bitcoin and bitcoin futures. Two weeks ago, a former employer I have not seen in 10 years called me out in Coindesk.com for my bitcoin qualms. At the dinner table my son Robby opened up about owning not just bitcoin, but bitcoin cash, ether and monero. This is a full-fledged mania. As I was driving home last night and thinking about bitcoin (as opposed to…

Asia Pacific Financial News from John Lothian News – November 30, 2017 Standard

Lead Stories Australian Banks’ U-Turn on Misconduct Probe Is Bid to Cut Risk By Emily Cadman – Bloomberg Government sets up Royal Commission into alleged failings; Tight deadlines, strict terms may limit potential damage If you can’t beat ’em, join ’em. That’s the calculation Australia’s biggest banks and the government have made in deciding to cave in to pressure for a public inquiry into alleged misconduct in the financial industry. https://goo.gl/dqg9pn Is China’s Central Bank Losing Its Monetary-Policy Mojo?; The gap between policy and market interest rates is widening, throwing up challenges for the PBOC By Shen Hong – WSJ…

A New Exchange, a Different Asset Class and a Hearty Dose of Blockchain Standard

Madison Ave gets a new solution for buying and selling digital advertising (Editor’s note: For background on NYIAX and the state of the advertising business, see JLN’s You Look Mahvelous Dahling: “Mad Men” Ready To Walk The Exchange Red Carpet With Nasdaq.) Want to see a proper use case for the ever-buzzworthy blockchain? Look no further than NYIAX, an exchange for guaranteed advertising contracts that runs on Nasdaq’s technology and deploys the blockchain to track trades, positions and, in the end, streamline reconciliation. On October 10, NYIAX’s product went live and the exchange continues to line up publishers and advertisers…