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What is Blockchain? Blog

What Blockchain Is and Is Not One of the most frequent topics we are reading and hearing about these days is blockchain technology. The articles run the gamut on how it will affect the financial industry, but very few articles explore what it really is and is not, and how it works. To many, blockchain is a magic box where things are recorded or registered, and that is supposed to help…maybe…somehow, something in the transaction process. The first step is distinguishing between Bitcoin and blockchain. Bitcoin is a cryptocurrency that uses blockchain technology to work. It is not uncommon to…

John Lothian Newsletter: Direct Match hires ex-equity exchange chief in launch push; Vitriolic Presidential Primaries Quelling Economic Uncertainty; EU Lawmakers Approve MiFID II Market Rule Delay by One Year John Lothian Newsletter,Newsletter

First Read ICAP’s blockchain initiative would slim down middle and back office processes Sarah Rudolph, JLN Excitement about blockchain technology and debate about the potential uses for it were top of mind at last month’s FIA Boca conference, and one of the more likely possibilities for its use is to streamline post trade operations for banks and their FCMs. ICAP, the largest broker for OTC trading, just completed a successful proof of technology test case using blockchain technology and the company believes it could transform the middle and back office, cutting down dramatically on the number of processes necessary and…

ICAP’s blockchain initiative would slim down middle and back office processes Blog

Excitement about blockchain technology and debate about the potential uses for it were top of mind at last month’s FIA Boca conference, and one of the more likely possibilities for its use is to streamline post trade operations for banks and their FCMs. ICAP, the largest broker for OTC trading, just completed a successful proof of technology test case using blockchain technology and the company believes it could transform the middle and back office, cutting down dramatically on the number of processes necessary and therefore on time and cost. “Banks own large amounts of technology and spend considerable time validating…

John Lothian Newsletter: Prosecutors Are Not Amused by Hidden Trading Markups; The Coming Default Wave Is Shaping Up to Be Among Most Painful; Wall Street Is Edging Toward Win on Derivatives Capital Rule John Lothian Newsletter,Newsletter

First Read Bits & Pieces By JLN Staff Elisabeth Samuels has joined GreenKey Technologies as managing director. She formerly worked for Eurex’s Chicago office. The PTG has created a committee on diversity and made this a major issue for 2016. They are working with WILD on this issue. BATS has agreed to renew their MarketsWiki Partner Level sponsorship for 2016-17. We appreciate their continued support. Bats was named yesterday’s MarketsWiki Page of the Day for announcing their IPO, again. MarketsWiki is approaching 79 million page views and MarketsReformWiki is nearing 12 million. Next week, Doug Ashburn makes his first trip…

John Lothian Newsletter: Exchanges Condoned Alleged Spoofer’s Trades, Ex-Partner Says; Wall Street Goes Big on Bitcoin Tech; Cut-off for ICE LSE bid moved to “late April” John Lothian Newsletter,Newsletter

First Read Chain, chain, chain By Jim Kharouf, JLN Today, like most days lately, is mostly filled with talk of blockchain. This topic continues to gather great interest and attract quite a bit of investment. Yesterday, the Depository Trust & Clearing Corp. held its first symposium on blockchain technology. An audience poll asked the question “If you had $10 million to invest in one of the following, which would you pick?” Coming in second was blockchain with 19 percent of the votes, lagging behind the other big topic in the industry, cybersecurity with 34 percent, according to the Wall Street…

2016 Exchange CEO Series: Jeff Sprecher Talks Data, Clearing and Growth for ICE Video

For the Intercontinental Exchange (ICE), 2015 was about major investments in data and analytics services. Now in 2016, the exchange is looking to integrate recent data acquisitions into its business and grow well beyond traditional exchange trading and clearing services. ICE CEO Jeff Sprecher spoke with John Lothian News at the FIA Boca Conference about how its purchases of SuperDerivatives, Interactive Data and S&P Analytics fit into its business model. ICE is also working with Blackrock, on exchange traded funds, to become its benchmark index provider.. “We started to pivot the company to get deeper into the data space,” Sprecher…

2016 Exchange CEO Series: CME’s Gill Looking For Customer Efficiencies PART 2 of 2 Interview,Tech / HFT,Video

With new capital requirements of banks and other institutions, John Lothian News sat down with CME Group’s CEO Phupinder Gill at the FIA Boca Conference to talk about CME’s new cleared swaptions service through its clearinghouse, and a repo futures contract. “If you look at the world and look at the situation around the globe, you’ve got South America, which has some bright spots but a growth rate that is at best uncertain,” Gill said. “You have low growth rates in the US. If you look out to Europe, where you have a lot of potential merger and acquisition activity,…

2016 Exchange CEO Series: CME’s Gill Looking For Customer Efficiencies Interview,Tech / HFT,Video

CME Group has been focused on global growth, just like every other major exchange. But to get there, the exchange leader believes it has to work with customers to streamline costs so it can expand. In part one of our two-part interview at the FIA Boca Conference, CME CEO Phupinder Gill said that the exchange is working on new ways to address capital efficiencies through products such as cleared swaptions, but also new clearing services that will help institutions reduce collateral. CME is also continuing to work on market disruptors such as blockchain technology, which may change the way in…

JLN Financials: Deutsche Bank Sees 2016 Industrywide Trading Revenue Drop; Betting on central banks, investors buy junk debt and emerging assets; How the ECB Woke Up to Banks’ Profits Nightmare Financials,Newsletter

First Impressions BlockChain, BlockChain Wherefore Art Thou? (Progress, that’s wherefore!) Carl Gilmore, President, Integritas Financial Consulting There has been a lot of ink spilled lately about bitcoin and the underlying technology, blockchain, that makes digital currencies (if that is what they are) possible. At the risk of spilling a bit more, I would like to end my week as guest editor talking about the possibilities and challenges of this new and potentially disruptive technology. Since I do not profess to understand a lot of the math underlying the concepts, and since I believe there are people out there in the…