Cboe to Acquire EuroCCP, Forex Club Exists Russia: Editor’s Pick

Another busy week in the foreign exchange (forex) and crypto industries has passed us by - Instinet launched an eFX spot trading platform, and ConsenSys shut down two of its offices in India and the Philippines. All this and more in our best of the week segment.

Barclays sells equity options market making to GTS

This week brought a big change to Barclays. As Finance Magnates reported, Global Trading Systems (GTS), the largest designated market maker on the New York Stock Exchange, closed the deal to acquire Barclays’ equities automated options trading unit’s assets.

The UK lender’s New York-based unit buys and sells options to offer Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term in the US derivatives markets. Upon completion of the acquisition, nearly 40 Barclays personnel will become full-time employees at GTS.

ConsenSys closes Asian offices

ConsenSys, a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term software technology company, announced this week that it has closed down two of its offices in Asia - one in India and another in the Philippines.

The organization has also removed its presence in those two locations from its website. The local team was reportedly informed via an email from Joseph Lubin, head of ConsenSys and Ethereum co-founder.

Analysis: are Turbo certificates the new CFDs?

With leverage restrictions now permanent for contracts for differences (CFDs) throughout Europe, and other jurisdictions looking to follow suit, could a different investment product take its place – turbo certificates?

This week, Finance Magnates posed this question, and we spoke to Mazhar Manzoor, the Director of Risk, Regulation & Financial Crime at ESMA Compliance Consultants. Read our article here to find out more.

Analysis: will more CBDCs hit the market in 2020

Ever since the whitepaper for Facebook’s Libra was released, governments have been examining creating their own digital currencies - Central Bank Digital Currencies, or CBDCs - in order to compete or remove the threat that the Libra stablecoin could pose.

Because of this, the list of countries exploring CBDC issuance is growing. Could we see more CBDCs in the market next year? Check out our analysis on the topic to find out more.

Cboe to acquire EuroCCP

Cboe Global Markets, Inc. confirmed this week that it has entered into a definitive agreement to acquire EuroCCP, as part of its efforts to expand into equities trading and clearing in Europe.

In order to complete the acquisition, Cboe and Euronext have entered into a binding agreement where the exchange will sell its 20 percent stake in EuroCCP to Cboe Global Markets, alongside the other current EuroCCP shareholders. Euronext expects to receive net proceeds of approximately €9 million (around $9.96 million) from the sale of its minority stake.

NYDFS publishes proposal for BitLicense regulation changes

The New York State Department of Financial Services (NYDFS) Superintendent Linda Lacewell on Wednesday released the final proposal for amending the BitLicense regulations, which mainly concern easing the listing of new crypto coins.

The regulator has made two proposals to the regulations. To find out what changes might be on the horizon, read our article here.

Instinet launches eFX spot trading platform

The next story in our best of the week segment concerns Instinet. In particular, the equities trading arm of Nomura announced the launch of Newport FX, an electronic spot forex trading platform.

As Finance Magnates reported, the new trading platform is a web-based desktop application that can be accessed via multiple avenues – Newport EMS, direct FIX API, or on a stand-alone basis.

Freetrade launches flagship brokerage platform in UK

Freetrade has headed to the UK, with the mobile-based stockbroker announcing the launch of its flagship brokerage platform in the United Kingdom.

Dubbed Invest by Freetrade, the product suite is regulated by the UK’s Financial Conduct Authority and will offer the traders on the platform thousands of new stocks and exchange-traded funds (ETFs). The platform also secured the Financial Services Compensation Scheme certification for ensuring security.

Forex Club closes FX operations in Russia

According to a recent message on the group’s website, Forex Club has stopped accepting services for Russian users and is no longer registering for services for residents of the Russian Federation.

The Russian FX market has been in a state of flux over the past couple of years. This, in turn, has led to a strategic abandonment of Russian users amongst brokers, with Forex Club being the latest venue to chart this course.

Will BTC get a Christmas rally?

A “Santa Rally” or “Santa Claus Rally”–which actually is not, in fact, unique to Bitcoin or even cryptocurrency–is when there is a sustained increase during the price of an asset throughout the last week of December and into the first two trading days in January.

The price of BTC has often seen sustained increases through the last week of the year. With Christmas fast approaching, will this year be any different? Read our analysis to find out.