The first government cryptocurrency is a fact – Petro coin

As Bitcoin mania took over the world, governments the world over considered launching their own digital currencies. However, none actually took the leap until now. The government of Venezuela, a South American country, has launched its own form of cryptocurrency, the ‘Petro’, on Tuesday. Amid the country’s rising economic crisis which has led to hyperinflation […]

Saudi central bank teams up with Ripple to test settlement solution ‎xCurrent

The Saudi central bank is set to carry out a test of Ripple’s settlement solution, xCurrent, ‎in a bid to improve ‎payments infrastructure and ‎enables KSA’s banks to instantly settle cross-border payments with ‎end-to-end tracking. The deal is another boost for Ripple’s expansion in the region, after it has signed foreign exchange giant UAE Exchange […]

Citi and Bank of America limit cryptocurrencies access

Bank of America, Citigroup, and some additional consumer-facing lenders are reportedly considering preventing their customers from using credit cards issued by the firms to buy cryptocurrencies. While it’s not clear exactly how or when these institutions would put these policies into place, the decision could result in a new set of restrictions and limits surrounding […]

JP Morgan continues to hire experts to develop artificial intelligence

In further evidence that the financial world is moving towards artificial intelligence and machine learning, JP Morgan, one of the largest investment banks in the world, has hired a machine learning expert. Previously working for Goldman Sachs, Chris Murray is joining the firm to advance the company’s use of artificial intelligence in a rapidly changing […]

JP Morgan to take stake in a veteran high-speed trader’s quantitative hedge fund

A veteran high-speed trader’s quantitative hedge fund raised almost $1 billion, bucking an industry malaise, and won the backing of JPMorgan Chase & Co.’s investment arm. The firm, Mana Partners, will begin trading Jan. 1, according to Chief Executive Officer Manoj Narang. Clients of JPMorgan’s alternative asset management division took a minority stake in Mana […]

Renaissance Technologies will patent a new technology against HFT

The 16-page document was quietly published by the U.S. Patent and Trademark Office in February. Replete with schematic drawings, the filing describes a novel way for “executing synchronized trades in multiple exchanges.” The invention consists of not only sophisticated algorithms and a host of computer servers, but atomic clocks — precisely calibrated to vibrations of […]

Who win and who lose from HFT

Investors and traders in capital markets have always sought to be better informed and to trade more quickly than their competitors. Thus new information technologies have been quickly adopted. As technology has evolved there has been a transition from carrier pigeons and semaphores, through telegraph, ticker tape and telephones, to fast computers and optic fibre […]

The new generation traders

You want to work as a trader. Does this mean you need to learn how to code? If you want to build an enduring career, the answer is almost certainly yes. If you’re simply a market maker, you won’t need to know how to code, but if you’re going into electronic trading, then coding will […]