News & Analysis as of

Trading Platforms

Cryptoasset Exchanges Respond to New York Attorney General’s Virtual Markets Integrity Initiative

On April 17, 2018, the New York Attorney General’s Office (“OAG”) launched a Virtual Markets Integrity Initiative and sent letters to thirteen cryptoasset trading platforms requesting, through a questionnaire, disclosures on...more

Who will have the last word with Virtual Currency? IRS, FinCEN, SEC, OFAC or the CFTC?

by Foodman CPAs & Advisors on

Virtual Currency (VC) investors are currently investing without clarity regarding which Government Agency(s) has the final word with respect to the treatment of VC. US Agencies: IRS, FinCEN, SEC and CFTC – have expressed...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Vodafone will spend $23 billion in cash to snap up operations in four European countries from Liberty Global PLC, which specializes in cable operations....more

OECD publishes issues paper on blockchain and competition law

by Hogan Lovells on

Competition law questions are increasingly raised in the public debate about the blockchain technology. While there is yet to be any investigation in this field, the policy debate about applying competition law instruments to...more

OECD publishes issues paper on blockchain and competition law

by Hogan Lovells on

Competition law questions are increasingly raised in the public debate about the blockchain technology. While there is yet to be any investigation in this field, the policy debate about applying competition law instruments to...more

Securities Law/Commodities Exchange Act (CEA) - The World in US Courts: Spring 2018

Claims of Manipulation of Trades on US-Based Globex Trading Platform Used by Korean Options Exchange Cannot Lead to Liability Under the CEA....more

New York’s AG Enters the Cryptocurrency Ring as Federal, State Authorities Find Regulatory Footing

On April 17, 2018, the New York State Attorney General (“NYAG”) sent a “Virtual Markets Integrity Initiative Questionnaire” to 13 companies operating virtual currency trading platforms. The questionnaire consists of 34...more

Orrick's Financial Industry Week In Review

SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Investment Professionals - On April 18, the Securities and Exchange Commission voted to propose a package of...more

New York attorney general launches fact-finding inquiry into trading platforms for virtual currencies

New York is the most recent to join the fray in state-led efforts to regulate the virtual currency markets. On April 17, 2018, New York Attorney General Eric T. Schneiderman announced the launch of the Virtual Markets...more

Why trusted data belongs in the cloud

The cloud is not just a fast and cost-efficient means to address the short-term, large-scale storage needs of financial institutions. Handling trusted data in this way is a powerful tool in the search for alpha....more

Corporate & Financial Weekly Digest, Featuring Topics on Broker/Dealer and UK/EU Developments

BROKER-DEALER - Nasdaq Has Proposed a New Rule Change To Modify Its System of Volume-Based Credits - The Nasdaq Stock Market LLC (Nasdaq) has filed with the Securities and Exchange Commission a proposed rule change to...more

Who’s on First, What’s on Second – Who is Regulating ICOs, Cryptocurrencies and Exchange Platforms?

by Michael Volkov on

When new technologies appear on the scene, Washington regulation is sure to follow. The exact configuration can take years to sort out, especially when it comes to financial products, given the labyrinth of regulatory bodies...more

European Central Bank Confirms Collective Agreement Between TARGET2 Participants

by Shearman & Sterling LLP on

The European Central Bank has confirmed that a collective agreement signed between the central banks operating TARGET2 component systems and the central securities depositories operating on the TARGET2-Securities platform can...more

International Standards Body Proposes Recommendations for Trading Venues on Managing Extreme Market Volatility

by Shearman & Sterling LLP on

The International Organization of Securities Commissions has launched a consultation on proposed recommendations for trading venues and their regulators to consider when implementing, operating and monitoring volatility...more

How FIX is changing post-trade FX for the sell-side

Post-trade FX activities have been dramatically simplified by the FIX interface, allowing sell-side participants to navigate challenges such as liquidity fragmentation and to reduce total cost of ownership (TCO)....more

U.S. Senate Hearing on Cryptocurrencies

On Feb. 6, Jay Clayton and Christopher Giancarlo, the chairmen of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), respectively, jointly testified before the Senate Banking...more

Nasdaq Proposes Changes to Shareholder Approval Rule for 20% Issuances

Nasdaq has proposed to amend its rule regarding shareholder approval for certain securities issuances. Currently the rule requires shareholder approval for security issuances for less than the greater of book or market value...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The UK’s Serious Fraud Office unveiled new charges against Barclays Bank yesterday over a $3 billion loan it made to Qatar in 2008 for the purpose of “allowing the firm to directly or indirectly acquire shares in Barclays...more

Building a data strategy for trading automation

The drive towards automation in trading and investment operations is accelerating the need for quality data, with cloud-based services one way to ensure the goals are met. Spurred on by regulatory change and market pressures...more

AML/BSA Focus by U.S. Senate Committee Testimony – From Beneficial Ownership to Cryptocurrency

by Ballard Spahr LLP on

This week, the U.S. Senate Committee on the Judiciary and the U.S. Senate Committee on Banking, Housing and Urban Affairs held hearings focused in part on Anti-Money Laundering (“AML”) and the Bank Secrecy Act (“BSA”)....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

With Davos 2018 in the rear view mirror, some analysts are pegging the “geopolitical momentum” as China’s to claim, thanks in no small part to its expansive and ongoing “Belt and Road” initiative....more

How FX markets are changing in 2018

With MiFID II regulations now in play, a new set of characteristics is emerging for FX markets in 2018. MiFID II rules are combining with other industry dynamics to shift the way FX markets function in 2018....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A look at Amazon’s newest concept—Amazon Go—a convenience store that opens in Seattle today complete with “shelves of food” found at other stores (including Whole Foods) but with nary a cashier in sight....more

SEC Cyber Unit Increases Efforts to Regulate Crypto-Currency

by Nossaman LLP on

Based on how 2017 ended, entities and individuals in the crypto-currency markets should expect increased scrutiny from the United States Securities and Exchange Commission (“SEC”) in 2018. The SEC’s Cyber Unit commenced its...more

Orrick's Financial Industry Week In Review

CFTC Issues Proposed Interpretation on Virtual Currency "Actual Delivery" in Retail Transactions - On December 15, 2017, the Commodity Futures Trading Commission ("CFTC") announced a Proposed Interpretation concerning its...more

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