Kynetix Brings the Blockchain to Commodity Markets
Kynetix, a global settlement and post-trade technology platform from Croydon in the United Kingdom, has announced plans to offer a blockchain consortium. The focus is on the effect of distributed ledgers across commodity and settlement markets. The organization has an active interest in exploring these digital concepts and will have an inaugural dinner....
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Kynetix, a post-trade technology company, is putting together a consortium to look into the use of distributed ledger technology in commodities markets. UK-based Kynetix, a firm that deals in commodity post-trade technology platforms has launched a consortium focusing on integrating blockchain technology into commodities post-trades and mainstream financial services. The firm announced an inaugural meeting to take place in London today wherein 15 major commodity exchanges, investment banks, brokers and clearing houses will collaborate in bringing blockchain to the physical economy. Kynteix....
Post-trade technology services firm Kynetix is seeking to assemble a consortium of commodities market stakeholders to explore the collaborative use of blockchain technology. Kynetix announced today that it has so far assembled a "coalition of 15 commodity exchanges, investment banks, clearing houses and brokers", though it declined to name those involved in the effort. Despite this silence, however, Kynetix is seeking to liken the project to similar efforts by distributed ledger startup R3, which has united 30 brand-name banks in a similar initiative. In interview, Guillaume Kendall, head....
A commissioner at the Commodity Futures Trading Commission (CFTC) has asserted the agency has the authority to take enforcement actions against price manipulation in bitcoin markets. Commissioner Mark Wetjen made the remarks at a bitcoin conference held at Bloomberg in New York on Monday. When asked if the CFTC has the authority to become intervene in such an event, he said: "It has not been tested, but I do believe we have the authority because bitcoin, by I think a very rational reading of our statute, classifies as a commodity and the definition of a commodity under the Commodity....
The struggle between US regulatory agencies about who can act in cases involving Bitcoin continues as the Commodity Futures Trading Commission, an independent United States Federal agency determined that it has enforcement powers against price manipulation in Bitcoin markets. This agency was established in 1974 by the Commodity Futures Trading Act to promote “competitive and efficient futures markets and protect investors against manipulation, abusive trade practices and fraud.” In remarks at the Bitcoin conference held at Bloomberg, CFTC Commissioner Mark Wetjen stated when asked if his....
Mettalex, a decentralized commodities derivatives exchange on Fetch.ai, is integrating industrial-grade price feeds in the DeFi ecosystem leading to higher blockchain efficiencies following their partnership with S&P Global Platts. Mettalex Empowers Commodity Traders Details on January 25 revealed that the deal would be advantageous to traders and businesses. Notably, Mettalex global traders would have access to unique commodities markets with a guarantee of smooth operations due to the use of premium and secure price feeds supplied by S&P 500 Platts. Meanwhile, businesses’ pain....