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The fourth largest European stock exchange, SIX Swiss Exchange, will list the world’s first crypto exchange-traded product next week. Switzerland's principal stock exchange SIX Swiss Exchange will list the world’s first crypto-based exchange-traded product (ETP) next week, the Financial Times (FT) reported Saturday, Nov. 16. Backed by the Swiss startup Amun AG, the first global crypto ETP will be listed under index HODL, and will track five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). According to the article, each cryptocurrency will acquire a certain market share within the upcoming ETP, with Bitcoin accounting for around half of the ETP’s assets. The rest are set to be divided in fractions, with 25.4 percent in now-second cryptocurrency XRP, and 16.7 percent in Ethereum, while Bitcoin Cash and Litecoin will acquire 5.2 and 3 percent of the market, respectively. Amun’s co-founder and chief executive Hany Rashwan co..
Swiss stock exchange SIX, which is set to launch a blockchain-powered platform in mid-2019, believes digital exchanges will replace traditional ones in a decade. Digital exchanges based on blockchain technology will completely replace traditional ones in ten years, Thomas Zeeb of Swiss leading stock exchange SIX told Reuters Wednesday, Nov. 14. “The existing system could be completely replaced by the digital exchange in about 10 years,” said Zeeb, who is leading the securities and exchanges department at SIX. “The moment that brokers, banks, insurance companies and big asset managers really see the cost advantages [of blockchain], they’ll move relatively quickly,” he further added. Zeeb talked to Reuters in the wake of the launch of SIX’s own digital exchange (SDX), scheduled to start working in mid-2019. As soon as the legal issues with the Swiss government and the country’s financial market regulator (FINMA) are clarified, the company is going to offer trading in selected stocks, fo..
Investment bank J.P. Morgan Chase has named three companies whose stock could benefit from their deployments of blockchain technology. Investment bank and financial services firm J.P. Morgan Chase has identified three public companies whose stock it believes will benefit from their applications of blockchain technology, CNBC reported Nov. 8. In a note to clients, J.P. Morgan reportedly forecast that IT companies will deploy blockchain in the same way that many firms claim to benefit from machine learning and artificial intelligence (AI). As Cointelegraph reported yesterday, some companies have started to drop using the term “blockchain,” as they believe the word is overhyped and too often used as a marketing ploy. However, J.P. Morgan outlined three companies that will purportedly create “material incremental growth opportunities” from the technology. Per J.P. Morgan, those beneficiaries are American content delivery network and cloud service provider Akamai Technologies Inc., San Fra..
The Hong Kong Stock Exchange has teamed up with blockchain firm Digital Asset to accelerate post-trade processes and reduce settlement risks. The Hong Kong Exchanges and Clearing Limited (HKEX) has partnered with blockchain firm Digital Asset to accelerate the post-trade process, financial news agency Finextra reports Oct. 31. HKEX had been working with Digital Asset to test a prototype system “in an effort to accelerate the post-trade process and reduce settlement risk.” According to Finextra, the system was tested by HKEX and the Shanghai and Shenzhen stock exchanges, in a collaboration called “Stock Connect.” The Stock Connect project lets international and mainland Chinese investors trade in each other's markets via their home exchanges' platforms to improve the efficiency of northbound trades. According to the report, the parties are now planning to release a full service platform that aims to solve the problem of discrepancies in time zones and other settlement and ope..
sponsored An AI-driven platform is trading the stock market for the cryptocurrency sector – and says its technology is on par with the machines used by billionaires. What if the volatility of cryptocurrencies could be eliminated, making crypto more of a feasible, mainstream investment? An established fintech company is working to achieve just that. Rise, which was founded in 2012, is planning to adapt its artificial intelligence (AI) trading technology to the cryptocurrency markets – enabling users to manage their investments and trade across dozens of exchanges. The Germany-based software firm began life in 2012, and its algorithms are already being applied to stock markets, forex, precious metals, and other commodities. Since its launch, Rise says its technology has been “proven to outperform major markets.” Unlike other platforms which have excluded clients because their investment size is too small, the company says it has taken pride in offering its products to all. In recent ye..
The National Stock Exchange of India is testing a Hyperledger-based blockchain platform developed by Elemential Labs to conduct e-voting. The National Stock Exchange of India (NSE) is testing a blockchain platform developed by Elemential Labs to conduct e-voting for listed companies, local news outlet Hindu BusinessLine reports September 27. The NSE’s pilot will entail tokenizing voting rights and using the blockchain platform to connect the firm, registrar and transfer agents (RTA), and the regulator. Hindu BusinessLine notes that tokenized votes are both easy to transfer and to proxy, and the test will reportedly be used to evaluate how easy it is to audit the entirety of the voting procedure using blockchain. Sankarson Banerjee, CTO of projects at NSE, is quoted as saying that the blockchain system offers features that can bring the exchange “closer to an environment of improved corporate governance and compliance,” outlining that: “The immutable nature of blockchain will ensure th..
China’s crypto mining giant Bitmain has filed a draft application for listing shares on the Hong Kong Stock Exchange. Chinese crypto mining giant Bitmain has filed a draft application for listing the company’s shares on the Hong Kong Stock Exchange (HKEX), according to an official application document published Wednesday, September 26. Bitmain has provided a draft application proof that is required for public listing on the HKEX, aiming “solely” to disclose information to the public in Hong Kong, and “not for any other purposes.” By providing a detailed business overview, Bitmain has stressed that the application proof is represented in a draft form, as it is a subject to future elaborations due to its incomplete status. In the application’s introduction, Bitmain has described the company as “China’s second largest and among the world’s top ten fabless IC design companies in terms of revenues in 2017,” providing a short description of the equipment supplied by the firm. The company em..
France’s stock market regulator has announced it is blacklisting 21 new investment websites, including multiple crypto-related sites. French stock market regulator, the Autorite des Marches Financiers (AMF), announced it is blacklisting 21 new investment websites, including multiple crypto-related sites, September 26. The AMF characterizes the new additions as “unauthorized websites” that offer “atypical investments,” and directs users to its existing blacklist, which it notes is “not comprehensive.” In March, the AMF had added 15 websites — including those related to crypto and crypto-assets — to its blacklist, reminding consumers that “no advertising materials should make you overlook the fact that high returns always involve high risk.” Cointelegraph has this month reported on a similar move from Belgian watchdog, the Financial Services and Markets Authority (FSMA), which added 28 new sites to its crypto-specific fraud blacklist and reiterated its warnings to consumers about fraudu..
Insider sources have suggested that Hong Kong Stock Exchange (HKEX) is eyeing takeovers in the blockchain and other tech sectors in a bid to boost it’s revenue sources. Insider sources have suggested that the Hong Kong Stock Exchange (HKEX) is eyeing takeovers in the blockchain and other tech sectors, according to a Bloomberg article published September 21. Bloomberg cites “people with knowledge of the matter” as saying that the exchange is considering a change in strategy due to stalling trading links with exchanges in China, citing worsening U.S.-China trade relations as a further cause for concern. The sources reportedly told Bloomberg that HKEX CEO Charles Li has met with “at least three investment banks” to discuss diversifying the exchange’s model, including a possible set of takeovers in the “data, analytics and blockchain sectors.” Due to the sensitivity of the matter, Bloomberg’s sources asked to remain anonymous. They reportedly suggest that Li has been looking to the ventur..