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March 6, 2017 by Enrico Camerinelli

Despite the outlook on blockchain adoption for financial services starting to move from excitement to criticism, trade facilitation business processes represent a stronghold for blockchain-based programs, as long as basic change management principles hold true.

There is a mounting debate about the limits of blockchain in the world of financial services. Financial consortia R3 and Swift declare banks can do without blockchain because of its immaturity, while a survey across delegates at the DTCC Fintech event also shows that blockchain adoption optimism suffers setback.

March 6, 2017 by Enrico Camerinelli

R3’s recent announcements warn banks to carefully watch blockchain as long as the technology remains immature. This comes at a time when blockchain-based initiatives see financial institutions taking the driver’s seat. The path to blockchain maturity demands the guiding role of bank industry independent associations, exactly what R3 is. This article takes the perspective of corporate banks.

February 27, 2017 by Ron van Wezel

On February 23, 2017, the European Banking Authority (EBA) published its final report on the draft regulatory technical standards (RTS) on strong customer authentication (SCA) and common and secure communication. The EBA was tasked to develop the RTS under Article 98 of EU Directive 2015/2366 (PSD2).

February 22, 2017 by Javier Paz

Blockchain technology (aka chaintech) applied to capital markets has been lauded as the next big thing in database management and ridiculed as vaporware, depending on who one asks. The “in operation” test, meaning real actors and real assets transacting on a blockchain, is a decade away according to the skeptics. But news out yesterday by Northern Trust and IBM suggests that this far, far away operational milestone for blockchain is, in fact, in the here and now.

February 22, 2017 by Javier Paz

With the departure of Forex Capital Markets (FXCM) from the U.S., leadership change, etc., financial reporters far and wide are asking for perspective on these events. Some go as far as probing whether this is the end for the U.S. retail foreign exchange (FX) industry—to which I say, no, it isn’t the death of retail FX in the U.S. since there are still three authorized brokers (Gain Capital, Oanda, and TD Ameritrade/thinkorswim). But why are there merely three viable U.S. brokers for FX when Japanese traders have a good dozen brokers (with 150,000 and more than 500,000 traders each) and another dozen brokers of smaller brokers behind that? Moreover, why did the U.S. and Japan go so far apart over the same (2005 to 2017) period in their regulation of the same industry?

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