Fnality International’s Post

UBS and CIBC executed a world-first #intraday #FX #swap #transaction on the Finteum #DLT #platform The #EUR/ #USD swap was completed within minutes. This new #trade type aims to #reduce #banks’ High Quality Liquid Assets (#HQLA) #requirements for #intraday #liquidity, potentially #saving up to $75 million per year for large banks. The Finteum Platform offers #FX #swaps and #repo #trades, integrating with existing #marketinfrastructures and using R3’s #Corda for #secure #transactions.

🌐 UBS and CIBC execute world’s first intraday FX swap via Finteum Platform 📈 New trade type promises to create super-short-term interbank markets, dramatically reducing banks’ High Quality Liquid Assets (HQLA) requirements for intraday liquidity and boost their dynamic access to funding 🗣 Rupert Hume Kendall, former Chair of Bank of America Merrill Lynch International, who recently joined as Finteum Vice-Chair and as a board member, said: “Recent regulatory focus has highlighted the need for banks to have access to multiple tools and sources of liquidity. Intraday FX swaps and intraday repo are recognised to be an increasingly important part of liquidity management strategies at global banks and we’re excited to be working with many of the world’s largest banks to bring this new technology to fruition and reduce their costs.” 🗣 Adam Roberts, Head of Post Trade Solutions, EMEA, TP ICAP, said: “This groundbreaking achievement enables partner banks to realise significant capital efficiencies and demonstrates our commitment to partnering with exciting new fintechs to drive financial market innovation. TP ICAP is committed to working with exciting start-ups like Finteum to bring new and innovative trading solutions to our customers.” 🗣 Kate Karimson (née Henry), Chief Commercial Officer at R3, said, “R3’s Corda is designed for regulated markets, facilitating interoperability and integration. We are pleased to be supporting another innovation in market structure with the launch of Finteum’s intraday FX swaps and intraday repo solution, which will maximise the efficiency of this exciting new market.” 🗣 Anthony Clark-Jones, who leads the Strategic Ventures portfolio at UBS, added, “this world-first trade over Finteum is another step towards institutions and their partners realising the commercial, risk-associated and client-related benefits of truly digital capital markets, and compliments recent progress elsewhere with, for example, institutional digital cash and digital collateral.” 📖 Read the full news by clicking the link in comments ⬇ #fxswap #risk #hqla

I spent many years working in one of the largest #FX business, based in Asia. Managing huge flows in currencies that were (and still are) hard to fund I found myself having many challenging conversations with our local #Treasury teams who didn't have the visibility and control to fund and settle these obligations with confidence. Things haven't changed at many firms, and yet the technology exists to provide operations and #LiquidityManagement teams the tooling they require. My recent blog-post provides more insight and I hope you find it interesting. #IntradayLiquidity #Fintech https://lnkd.in/esc2TfBF

Project Meridian to test synchronised settlement in FX The Eurosystem and London Centres of the Bank for International Settlements (BIS) Innovation Hub have launched a new initiative to build on the findings of Project Meridian by focusing on foreign exchange (FX) transactions synchronisation. The new Project Meridian FX will provide insights on how operators of real-time gross settlement (RTGS) systems could enable interoperability with new payments technologies, such as distributed ledger technology (DLT). It will highlight the opportunities that the synchronisation model could unlock, including more innovative and efficient settlement services for a wider range of assets that are settled in central bank money. What are your thoughts on the proposal for “synchronisation operators”? #FinanceInnovation #DLT #Fintech #Banking

A company has secured approval from the Jersey Financial Services Commission to launch an investment-grade digital assets platform leveraging Jersey’s VASP framework. The platform targets challenges such as counterparty risk and over-collateralization, aiming to expand its user base and foster financial innovation in Jersey. #Digitalassets, #Investmentgrade, #Financialinnovation, #Counterpartyrisk, #VASPframework, #DeFinityMarkets, #Fx, #Forex

Project Meridian FX: Joint Project by the Eurosystem and London Centres, and the Bank of England, to Test Synchronised Settlement in FX "The project will provide insights on how operators of real-time gross settlement (RTGS) systems could enable interoperability with new payments technologies, such as distributed ledger technology (DLT). It will highlight the opportunities that the synchronisation model could unlock, including more innovative and efficient settlement services for a wider range of assets that are settled in central bank money." https://lnkd.in/e8bNrBHp Bank for International Settlements – BIS #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

In the last of our preview articles ahead of the Finadium in Securities Lending conference (FISL), we highlight what our panelist experts from BNY Mellon, EquiLend and GLMX - Access, Automate, Analyze expect everyone will want to dig into in greater detail as the markets innovate to meet the demands of rapidly evolving dynamics. Nehal Udeshi, Mike Norwood, Salvador Giglio Anna Reitman More on #finadium: https://lnkd.in/eBSsZY3J

#Custodians expand their reach as the market evolves | Traditional custodians are maintaining their dominance in the face of growing #fintech activity in the sector | #treasury #ESG #custodybanks #transactionbanking http://spr.ly/6044niw9I

Sponsored content: smartTrade Technologies Banks are enhancing their front-office offering with FX options and structured products to meet client demand and diversify revenue streams. smartTrade facilitates this shift by providing robust support for low-latency connectivity, trading and distribution of FX products, enabling banks to efficiently manage and scale their front-office trading operations. https://hubs.li/Q02GC3cP0