Goldilocks’ Comments and Global Economic News Wednesday Evening 5-15-24

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Goldilocks’ Comments and Global Economic News Wednesday Evening 5-15-24

Good Evening ,

“The European Securities and Markets Authority (ESMA) recently revealed that four applications are pending. One of those is from Germany’s 21X (https://www.21x.eu/), the only one of the quartet that has applied for a DLT trading and settlement systems (DLT TSS) license.

If approved, this would allow it to both operate a secondary market (DLT MTF) and run the settlement systems (DLT SS). We were the first DLT TSS applicant in Europe. We do have a first mover advantage that we are hoping to realize,” 21X CEO Max Heinzle told Ledger Insights.”

A secondary market allows investors and traders the ability to exchange with each other when a primary Market adds an item for sale. Securities can be directly traded between two entities without having to go through the primary issuer.

This allows the actual price of an item to be driven by supply and demand. An actual value begins to surface over several trades.

It is a system that allows large and small traders to invest in Market transactions such as stock markets and over-the-counter markets.

Foreign currency exchanges are traded on the secondary Market. Examples of stock markets (or secondary markets) include:

* the NYSE and Nasdaq in the U.S.
* the London Stock Exchange
* the Hong Kong Stock Exchange
* the Bombay Stock Exchange
* the Frankfurt Stock Exchange

(https://www.ledgerinsights.com/esma-explains-why-dlt-pilot-regime-hasnt-taken-off/
When Stablecoins and Tokenized Assets become law on June 30th, 2024, we will have a Digital Ledger System capable of recording these transactions going forward.  Germany’s 21X (https://www.21x.eu/),  

 Ledger Insights    Investopedia 1   Banking Frontiers   Soft Serve Inc    Investopedia 2

© Goldilocks

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“Deutsche Bank today announced it has joined the Monetary Authority of Singapore’s (MAS) Project Guardian (as part of the asset and wealth management workstream). The collaborative initiative is dedicated to testing the feasibility of asset tokenization applications in regulated financial markets.

Project Guardian is a multi-year project involving global policymakers (including the United Kingdom’s FCA, Switzerland’s FINMA, and Japan’s FSA) and financial services industry representatives.

As part of the asset and wealth management workstream, the bank will test an open architecture and interoperable blockchain platform to service tokenized and digital funds. It will then propose protocol standards and identify best practice to contribute to industry progress.”

The Deutsche Bank connects to all banks around the world, and their proposed “protocol standards” from this project test will move us towards Global unification inside the new digital asset economy.   Deutsche Bank   The Block   Fintech Futures


© Goldilocks

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The Monetary Authority of Singapore is finalizing their rules for their new over-the-counter derivatives reporting regimen.

These final regulations come into operation on October 21, 2024. It will introduce the Unified Payments Interface, Unique Transaction Identifier or swaps transaction identifier, cardholder data environment, and ISO 20022 in reporting.

These new developments just so happen to be taking place in the same month of the next BRICS summit.   Exchange Protocols and Regulations are clearly being interfaced onto the QFS during this time. Traction Fintech   DowJones


© Goldilocks

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How Trading Works on OTC Markets | Youtube

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What are Secondary Markets? | Youtube

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Philippines Central Bank Launches Peso-Linked Stablecoin Trials | Bitrue FAQ

Philippines Stablecoin Announcement:

The Philippines will now test a peso-backed stablecoin in payments, trading, hedging, and DeFi applications.

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Finastra certifies multiple solutions for ISO 20022 compliance | The Paypers

Tuesday 14 May 2024 15:05 CET | News

Global provider of financial software applications Finastra has announced the completion of testing and certification for ISO 20022.  (https://thepaypers.com/search/index.aspx?search=Finastra
 
This achievement positions Finastra as one of the early vendors in the industry to complete the certification process for multiple solutions. The certification pertains to four of Finastra’s payment processing solutions, allowing financial institutions across the United States to enhance their innovation capabilities. 

The certified solutions include Payments To Go, Global PAYplus, PAYplus USA, and PAYplus Connect, offering a range of options for financial institutions to comply with ISO 20022 standards for FedWire. Financial institutions are required to conduct their own testing to meet ISO 20022 compliance standards by the end of 2024, emphasizing the importance of selecting a suitable payment processor with the necessary technology.

👆  Goldilocks pointed to this article

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Digital ID Regulations Start THIS MONTH mandatory by 2026. | TheNationalPulse

The Digital Identity Regulation (eIDAS 2.0), the European Union’s latest set of digital ID rules, will take effect on May 20. Big Tech firms and EU member nations must now comply in supporting the EU Digital Identity (EUDI) Wallet, though work on the project remains ongoing, with pilot programs scheduled for 2025.

According to recently published standards by the European Council, the EUDI Wallet must be fully implemented across the continent by 2026. Initial usage will encompass scenarios such as accessing government services and age verification.

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Financial Services and Markets Act Announcement:

Singapore has commenced its second phase of implementing the Financial Services and Markets Act (FSMA). The Act was passed into law in April 2022 to give the Monetary Authority of Singapore (MAS) additional powers to address misconduct, technology, and virtual asset risks.   20 hours ago

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Andrei Belousov: The Economist in Charge of Russia’s Army | The Moscow Times

n economist and technocrat with no military background, Russia’s new Defense Minister Andrei Belousov has been tasked with deploying his number-crunching skills and bureaucratic oversight to secure Russian victory against Ukraine.

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China considers local government purchases of unsold homes, Bloomberg News says | Yahoo News

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Government Acquisition, Regulation of Private Property. Initiative Constitutional Amendment. |  LAO CA Gov

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The Unseen Battles in Iraq USD IQD Ex Rate Value Up | Youtube

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Silver Price Hasn’t Done This In Over A Decade ($30 BREAKOUT Imminent) | Youtube

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Yesterday, the Oesterreichische National Bank participated in the first trial of wholesale DLT settlement transactions as part of the Eurosystem experiments. As reported last month, 16 institutions (https://www.ledgerinsights.com/ecb-wholesale-dlt-trials-first-participants/) were onboarded to participate in the first wave of DLT trials, which use real central bank money. In addition, there are experiments involving simulations.   LedgerInsights

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09 May 2024 (BIS):
BIS added 37 entities to the Entity List under the destination of the PRC for the following reasons:

Supporting the High Altitude Ballon that overflew the United States in February 2023;
Having connections to companies that provided such support;
Acquiring and attempting to acquire U.S.-origin items, applicable to unmanned aerial vehicles, to be used by Chinese military entities;
Being involved in the shipment of controlled items to Russia since its invasion of Ukraine in February 2022;
Acquiring and attempting to acquire U.S.-origin items in support of advancing China’s quantum technology capabilities; and Being involved in advancing China’s nuclear program development. https://overruled.com/china/

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The essential metals for humans: a brief overview – PubMed

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S&P Global Rankings Urges Asset Managers To Embrace Tokenization | TheDefiant

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The DCSA Digital Trade initiative was designed to facilitate universal acceptance and adoption of a standards-based electronic Bill of Lading, applicable to both original Bill of Ladings and Seaway Bills. 

Using open source Application Programming Interfaces (APIs), DCSA BL standard enables straight-through processing of BL data, eliminating paper and manual intervention from BL processes.

Standardised digitalisation of BL data and processes will help create a more secure, agile and sustainable supply chain ecosystem. DCSA is also working closely with eBL solution providers on technical and legal interoperability to enable seamless digital transfer of original BLs across different platforms and stakeholders, which will facilitate the global uptake of BL standards.  DCSA

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