Citi’s Post

HSBC Launches Tokenized Gold #HSBC Holding has launched #tokenized physical #gold trading on its single-dealer platform. The new capability will keep ownership records of the physical gold on a distributed ledger. The new service works with the bank’s Orion platform which issues digital assets & its digital custody service, slated to go live in 2024. “These services underscore HSBC’s commitment to the overall development of digital asset markets,” noted John O’Neill, global head of digital assets strategy, markets & securities at HSBC, in a prepared statement. The global market for physical gold is approximately $13 trillion as per the World Gold Council (WGC) trade association. Adopting digitalization is another way to increase the use of #technology to document & trade gold in a way that could increase #transparency, Joe Cavatoni, CEO of the WGC. Tokenizing physical gold is not a new concept, but having such a significant bullion bank like HSBC, which has expertise in gold vaulting & clearing, certainly is, according to Ruth Crowel, CEO of the London Bullion Market Association (LBMA). “Hopefully, this new platform will attract new & different investors to the reserve asset, leveraging on the liquidity of the Loco London,” referring to the physical gold stored in London vaults. #globalfinance Global Finance Magazine

Delighted to announce that the Japan Securities Clearing Corporation (JSCC) has joined our Core-Collateral network. This means that JSCC’s Clearing Member clients using the Core-Collateral platform will be able to directly access the largest CCP in APAC. This direct connectivity ensures clearing members receive normalised data from Baton directly from the CCP - enhancing efficiency and enabling clearing members to receive real-time balances with the ability to check eligibility and then to instruct and move cash and non-cash collateral to JSCC. With bi-directional integration to the JSCC now complete, Core-Collateral clients can now automate and expedite the movement of cash and securities across 13 CCPs, including the largest nine, covering 95% of global initial margin according to Public Quantitative Disclosures (PQDs) data. All via a single platform. Learn more about this news: https://lnkd.in/gQuvaneY Learn more about Core-Collateral: https://lnkd.in/gFN6XJMT Japan Exchange Group #CCP #Collateral #JPX #Clearing #JSCC

Great to hear a client testimonial on Securities View and how adopting this solution - leveraging the Unique Transaction Identifier - helps with transparency on the securities settlement side. All the better to hear it from Ms. Strandberg, who heads up the securities services product team at SEB and is well known in SMPG and other community standardization circles. ----- Greater transparency into the #securities settlement lifecycle could help avoid fails, especially as more markets move to T 1. Tracy Chou, Senior Securities Expert at Swift, sat down with Christine Strandberg, Head of Product Management for Investor Services Banks at SEB to discuss the problems #settlement fails cause, and what the industry can do about it. 👉 Read more: https://okt.to/fdrgp7 #posttrade #capitalmarkets #sibos

🌐 JPMorgan's Market Shake-Up in Asia: Key Points!   JPMorgan is poised to outsource the operations of its local custody business in Hong Kong and Taiwan with Citigroup, HSBC, and Standard Chartered, vying for the mandate.   Sources reveal JPMorgan's local custodian operations in these North Asian markets account for approximately $520 billion in client assets under custody.   Despite the shift, JPMorgan will continue providing global custody services and managing cross-border investments with its vast network. The bank aims to complete the transition to another bank by the end of next year.   📈 With $29.7 trillion worth of client custody assets globally, JPMorgan posted a 9% year-on-year revenue increase in securities services, including its custody operations, in Q3.   #jpmorgan #banks #trading

Mastering Securities Settlement: A Closer Look at CMTA's In-House Expertise At CMTA, we've been pioneering in the financial industry for quite some time. But did you know about our comprehensive in-house knowledge in the field of #securities settlement?   🔍 Deep Dive into Our Settlement Expertise:   👉 Your Direct Counterparty: With CMTA, you have a direct and reliable #settlement counterparty, ensuring efficient transaction processing. This eliminates time-consuming order routes and allows you to settle securities transactions mediated by CMTA AG directly with us. 👉 In-House Mastery: Our settlement team boasts in-depth competence and industry know-how, ensuring that settlement of transactions is managed with the utmost proficiency. 👉 Global Access & Local Insight: We have access to the two largest settlement houses in Europe – #Euroclear and #Clearstream as well as to the wide range of domestic markets, partnering with industry-leading custodians. 👉 Versatile Transaction Settlement: Settlement of #OTC and #MTF (including BTFE/Bloomberg) Fixed-Income transactions, we've got it covered. 👉 Key Industry Participation: As a direct participant of DTCC CTM & ALERT, we stay at the forefront of industry standards and practices. 💡 Experience the Difference with CMTA's In-House Settlement. Get in touch! #CMTAAG #FinancialExpertise #SecuritiesSettlement #InnovationInFinance Disclaimer: This publication is for information purposes only. Financial instruments and investments can involve considerable risks.  

BNP Paribas achieves best year for securities services revenue in 2023 Annual revenue reaches high of €2.91 billion, while assets under custody/administration sees slight decline in previous quarter.  

On December 1, 2023, the first commercial digital securities transaction using wCBDC was completed on SDX, involving Swiss bonds from Basel-Stadt and Zurich, led by Basler Kantonalbank and ZKB. These transactions, part of Helvetia III and facilitated by the Swiss National Bank, also involved settlements on SIX SIS, integrating DLT infrastructure. #switzerland #leadershipdevelopment #tokenization #blockchaintechnology

LCH an LSEG business, today announces that Mizuho Bank Ltd has joined #SwapAgent as a member and has processed its first cross-currency swap through the service. Mizuho Bank Ltd is now able to benefit from SwapAgent’s offering including centralised trade processing and optimisation. Nathan Ondyak, Head of SwapAgent, LCH, said: “We are delighted to welcome Mizuho Bank Ltd as our latest member. As financial institutions across Asia and Japan increasingly seek to benefit more from robust risk management and capital efficiencies, we remain committed to offering our members the processing, margining and settlement benefits that SwapAgent brings.” Kenichiro Kobayashi, Head of Europe Treasury Department, Operating Officer, Mizuho Bank, said: “Joining SwapAgent as a member is crucial for us to be able to offer our own clients an enhanced service that improves standardisation and efficiency in the cross-currency swap market, as well as reduces operational and credit risk. We look forward to unlocking these capabilities through SwapAgent.” Learn more here: https://lseg.group/4ddEoJn