Even if the true “Satoshi” provided the programming methodology that helped to establish the bitcoin peer-to-peer system, for him to claim outright the idea of a decentralised encrypted virtual parallel currency as his unique invention would, to say the least, be pretty rich.
“Finance people are in finance for the love of money, not for the love of risk-taking,” said Michael Karp co-founder of recruiting firm Options Group. “Regulators don’t get that, but at least those that run banks understand that and have acted quickly to find a solution to appease both regulators and employees.”
The fast-growing crowdfunding sector will be subject to tighter regulation to provide more transparency and protection for investors, Britain's financial watchdog said on Thursday.
The future looks bright for a long-term and deepening relationship between the capital markets and reinsurance, according to comments from PwC, citing strong demand for insurance-linked securities (ILS) as an alternative asset class investment.
This table lists the 144A property/casualty catastrophe bond transactions that were completed in 2013.
Global reinsurance firms including Swiss Re and SCOR have participated in what is being dubbed the largest ever pension scheme longevity swap, a £5 billion transaction for UK insurance, life and pensions firm Aviva.
A first of its kind Israel earthquake parametric reinsurance transaction has been brought to market successfully by reinsurance firm Munich Re and capital markets reinsurance broker arm Aon Benfield Securities for Israeli insurer I.D.I.
Specialist Swiss-based insurance-linked securities (ILS) and reinsurance-linked investment manager Twelve Capital has completed the issuance of its second private catastrophe bond, the $25m Dodeka II.
Often referred to as the silver to bitcoin's gold, litecoin has lost its third-place spot in the cryptocurrency marketshare league table to auroracoin. Experiencing triple-digit growth over the last two days, Iceland-based auroracoin is as much a political statement as it is a bitcoin alternative. Auroracoin is available to mine now, but on 25 March half of the coins ever produced will be given, for free, to every one of Iceland's 320,000 inhabitants. Each person will be offered 31.8 coins - and at a current value of $96.80, that means a windfall of $3,000 (£1,800).
A global regulatory initiative to rewrite the way derivatives contracts work in a default may be slowed amid concerns that parts of the industry will not sign up to the changes.
Meet the new swaps market. Same as the old swaps market.
The President of global reinsurance broker Willis Re warns reinsurers today that in order to survive the challenges posed by a highly capitalised market, competition from alternative capital and softening rates, they need to stay relevant and diversify for the right reasons.
The Japanese government will set rules for trading bitcoin, including imposing taxes on transactions with the virtual currency, that will become the basis for guidelines applicable to similar currencies in future, the Nikkei reported.
Back in 2008 Jean-Claude Trichet will have had some sleepless nights over securitisation: the slicing and dicing of loans that ensured problems in a small pocket of the US mortgage market went on to engulf global finance. But six years after the height of the crisis set in train by the proliferation of loan bundles, Mr Trichet’s successor as European Central Bank president wants to revive the now-dormant industry.
The BoE’s initiative seems to be symptomatic of something I’ve criticized quite a bit over the past several years: the tendency to view derivatives in isolation. Triggering of cross-defaults and accelerating contracts is a problem because they can hasten the collapse of a shaky bank. So fix that, and banks become more stable, right? But maybe not because it changes the behavior and decisions of others who can also bring down a financial institution. This is why I am skeptical that these sorts of changes will affect the stability of banks much one way or the other. They might affect where a fire breaks out, but not the likelihood of a fire overall.
U.S. primary insurer and regular insurance-linked securities sponsor State Farm is returning to the catastrophe bond market with its fifth Merna Re branded issuance, a $300m Merna Re V Ltd. U.S. earthquake cat bond.
Imagine if Gmail were to close down. Would we say, "The end of email has arrived"? Of course not... People are mixing up a private company with an entire industry. Mt. Gox for example, began as a platform for trading Magic: The Gathering cards, [and] a few short years later they are holding hundreds of millions of dollars in customers' money and became the number one [Bitcoin] exchange. Did they become the number one exchange because they were the best? No, [it's] because they were the first.
Well, there’s good news and there’s bad news. First, the good news: the two clearing banks (Bank of New York and JP Morgan Chase) are completing infrastructure updates to reduce the extension of intraday credit by shortening the daily unwind time for maturing tri-party repo trades. That’s good progress and the Fed is pleased. The problem that still lingers, at least in the eyes of the Fed, is fire-sale risk.