Gemini’s
Asia-Pacific (APAC
Asia-Pacific (APAC)
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
Read this Term) head Jeremy Ng and head of business development Eugene Ng have left the US crypto exchange and now plan to launch their own crypto venture within the next few months. Eugene had a conversation with Business Times media outlets, and revealed the duo are planning to start their own cryptocurrency business. He did not elaborate further details. He however stated that the duo will be ready to talk about more details on the venture at the end of Q1 2022.
“Something is cooking. Jeremy and I have been working on this since we left. In a couple of months, we will probably be able to disclose something,” Eugene said, and added that there are “many parties” involved.
Eugene also declined to share the circumstances that led to his departure from Gemini. Both he and Jeremy had signed non-disclosure agreements with the crypto
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term. They have not updated their LinkedIn profiles about their next designations.
Gemini hired Jeremy in June 2020 to be in charge of its new Singapore office as the managing director. Before that, Jeremy was the CEO of Leonteq, a company that specializes in insurance and structured financial products. Jeremy had also worked in a number of major global banks including Goldman Sachs, Deutsche Bank, and Morgan Stanley.
Meanwhile, Eugene joined Gemini January this year and left the company two months ago. Prior to joining Gemini, he served several tenures in leading global banks such as Barclays Capital, Barclays investment bank, Citi Singapore, and Deutsche Bank, among other financial firms.
Many Crypto Exchanges Seeking to Obtains MAS License
The announcement by Jeremy and Eugene comes at a time when Gemini has been pursuing an expansion across Asia. In June 2020, Gemini, a New-York-based crypto exchange founded by Cameron Winklevoss and Tyler Winklevoss, launched its business office in Singapore. The exchange consequently hired Jeremey Ng, a former Goldman Sachs employee and a Singapore resident to lead the Gemini business in Singapore. The exchange took the move after Singapore enacted the Payment Service Act in January 2020, which allows cryptocurrency companies, including exchanges, to be licensed and conduct their business in the city-state. Gemini applied for an operating license in Singapore, a new requirement for crypto trading platforms in the country. However, the company’s ambitions appeared to have run into regulatory bottlenecks.Gemini is still waiting for its business license to be approved by the Monetary Authority of Singapore (MAS), together with other 170 companies.
Competence in collaborating with regulators across jurisdictions was the major component of Jeremy’s job. Only four companies have been awarded licenses, while the list of several proposals was rejected and many other companies withdrew their applications.
Since June 2020, Gemini’s office in Singapore has grown moderately. Currently, about 30 staff work at the office. Meanwhile, global crypto exchanges such as Coinbase, Binance, and Huobi also have been crystallizing their plans to operate in the city-state. But regulatory hurdles have made things difficult for them. In September, MAS ordered Binance to stop offering services in Singapore and to cease soliciting business from local residents. The regulator stated that Binance had no appropriate license to conduct its business in the jurisdiction.
Gemini’s
Asia-Pacific (APAC
Asia-Pacific (APAC)
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or regulatory differences.In terms of the market as a whole, a series of events over the past decade has resulted in periods of extreme volatility and price spikes.These have helped increase the randomness in volatility that has been exacerbated by the several structural changes in the APAC FX market.This includes the impact of prudential regulation on banks’ ability to warehouse risk, the increased cost of continuing to participate in the market, and the competitive edge some institutions have gained through enhancing the sophistication of their platforms.APAC Outlook for FX MarketThe APAC market still looks friendly for development over a longer period though challenges remain for the FX industry.For example, liquidity is likely to concentrate further among fewer institutions in the decade ahead, which could limit the number of players.Despite its rapid recent growth China’s FX market is still small as a percentage of GDP and primarily domestic, this points to a clear opportunity for the market to develop further.Finally, the internationalization of the Chinese renminbi (RMB) is set to be a major force shaping the global financial system. Consequently, this should make China’s financial markets deeper and more liquid and have significant implications for international investment trends and global asset prices.
Read this Term) head Jeremy Ng and head of business development Eugene Ng have left the US crypto exchange and now plan to launch their own crypto venture within the next few months. Eugene had a conversation with Business Times media outlets, and revealed the duo are planning to start their own cryptocurrency business. He did not elaborate further details. He however stated that the duo will be ready to talk about more details on the venture at the end of Q1 2022.
“Something is cooking. Jeremy and I have been working on this since we left. In a couple of months, we will probably be able to disclose something,” Eugene said, and added that there are “many parties” involved.
Eugene also declined to share the circumstances that led to his departure from Gemini. Both he and Jeremy had signed non-disclosure agreements with the crypto
exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term. They have not updated their LinkedIn profiles about their next designations.
Gemini hired Jeremy in June 2020 to be in charge of its new Singapore office as the managing director. Before that, Jeremy was the CEO of Leonteq, a company that specializes in insurance and structured financial products. Jeremy had also worked in a number of major global banks including Goldman Sachs, Deutsche Bank, and Morgan Stanley.
Meanwhile, Eugene joined Gemini January this year and left the company two months ago. Prior to joining Gemini, he served several tenures in leading global banks such as Barclays Capital, Barclays investment bank, Citi Singapore, and Deutsche Bank, among other financial firms.
Many Crypto Exchanges Seeking to Obtains MAS License
The announcement by Jeremy and Eugene comes at a time when Gemini has been pursuing an expansion across Asia. In June 2020, Gemini, a New-York-based crypto exchange founded by Cameron Winklevoss and Tyler Winklevoss, launched its business office in Singapore. The exchange consequently hired Jeremey Ng, a former Goldman Sachs employee and a Singapore resident to lead the Gemini business in Singapore. The exchange took the move after Singapore enacted the Payment Service Act in January 2020, which allows cryptocurrency companies, including exchanges, to be licensed and conduct their business in the city-state. Gemini applied for an operating license in Singapore, a new requirement for crypto trading platforms in the country. However, the company’s ambitions appeared to have run into regulatory bottlenecks.Gemini is still waiting for its business license to be approved by the Monetary Authority of Singapore (MAS), together with other 170 companies.
Competence in collaborating with regulators across jurisdictions was the major component of Jeremy’s job. Only four companies have been awarded licenses, while the list of several proposals was rejected and many other companies withdrew their applications.
Since June 2020, Gemini’s office in Singapore has grown moderately. Currently, about 30 staff work at the office. Meanwhile, global crypto exchanges such as Coinbase, Binance, and Huobi also have been crystallizing their plans to operate in the city-state. But regulatory hurdles have made things difficult for them. In September, MAS ordered Binance to stop offering services in Singapore and to cease soliciting business from local residents. The regulator stated that Binance had no appropriate license to conduct its business in the jurisdiction.
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