OCC Joins Baton Systems' DLT Derivatives Collateral Management System

Jinze Finance reported that Baton Systems announced that it will add the Options Clearing Corporation (OCC) to its central clearing counterparty (CCP) roster. It has a DLT-based collateral management system that automatically manages margins for exchange-traded and cleared FX derivatives. Its other users include JP Morgan and Citi, linked to 11 CCPs such as ICE Clear Europe, LCH, CME, Eurex and SGX.

OCC is one of eight systemically important financial market utilities in the United States. It is the world's largest clearinghouse for equity derivatives, with most of its trading volume coming from equities. At the same time, this is not the first DLT experience for OCC. It is working with another fintech, Axoni, on a blockchain solution to create a golden record of securities lending transactions and lifecycle events. (ledgerinsights)

Other news:

The US OCC warns that it will take a more cautious approach to encryption regulation: News on November 17, Michael Hsu, acting director of the Office of the Comptroller of the Currency (OCC), the US banking regulator, said at a financial technology conference hosted by the Federal Reserve Bank of Philadelphia on Tuesday that federal agencies A joint statement will be released soon, stating the conclusions of the "crypto sprint" (encrypted sprint) joint research project. He suggested that the OCC, the Federal Reserve and the FDIC have drawn conclusions that are far from industry-friendly. "These agencies are approaching crypto activity very carefully and with a high level of caution," he said. Hsu also said that the guidelines issued by the OCC during the Trump administration should not be interpreted as encouraging banks to enter the encryption field. The OCC is also preparing to clarify the explanatory letter issued previously. the most important. The OCC will proceed with caution and hold banks to the same. (Bloomberg) [2021/11/17 21:56:56]

ZenLedger Closes $6M Series A, Bloccelerate VC Leads: Cryptocurrency tax analytics and blockchain analytics firm ZenLedger announces $6M Series A led by Bloccelerate VC, Mark Cuban's Radical Ventures, G1 VC, Borderless Capital , 4RC, Centrality, BIGG Digital Assets, CoinGecko, Accelerator Ventures, and angel investors Jon Staenberg and Darren Lau participated in the investment. (PR Web) [2021/8/3 1:32:12]

OCC Senior Deputy Comptroller: Banks are unlikely to start providing services to encrypted companies immediately: Golden Finance reported that the U.S. Office of the Comptroller of the Currency (OCC) issued an explanation letter last month, stating that in addition to custody, banks regulated by the federal government can also provide services for encrypted currencies. Startups provide services. In this regard, OCC Senior Deputy Auditor and Chief Advisor Jonathan Gould said that, in fact, the OCC has been studying the field of cryptocurrencies since at least 2018, and possibly even longer. Writing a letter of explanation usually takes months, he said. While the OOC’s letter of explanation last month opened the door for banks to offer services to crypto companies in addition to directly offering custody services for cryptocurrencies, it’s unlikely banks will start offering both services immediately. Banks still need to make sure they have appropriate risk management practices in place, or else make sure they are legally ready before they can actually provide these services. [2020/8/19]