The German Association of Private Banks, which includes more than 200 financial institutions, has published a document calling for the release of a "programmable digital euro."
The document emphasizes that a digital euro based on cryptography should work on a pan - European payment platform, which will be supported by the monetary policy of European countries. In order to be competitive, the system must be based on a common standard and currency. A digital currency based on these principles can quickly gain in popularity, but the existing monetary system should not be jeopardized. But private crypto currencies, such as Libra, can easily become the cause of economic and political conflicts, the Association of German Banks believes. Also, the authors of the document called on regulators and legislators to take a balanced approach to the regulation of digital assets.
Note that recently the Minister of Finance and Vice Chancellor of Germany Olaf Scholz advocated the creation of a national digital currency, however, according to the country's parliament, crypto currencies will not be able to become money and a means of accumulating capital.
BitMEX said the update will allow users to trade contracts by index, which will reflect more reliable and accurate prices. The biggest change is the inclusion of the Huobi cryptocurrency exchange with significant weight in most indices. BitMEX indices are composite, that is, calculated using data from several exchanges.
Currently, BitMEX uses data from 6 exchanges - Binance, Bitstamp, Bittrex, Coinbase, Kraken and Poloniex. On November 22, three more will be added - Huobi, Gemini and Itbit. It is noteworthy that although BitMEX currently does not include Huobi in its indices at all, on
November 22, the exchange will receive a weight of 7 out of 9 indices. Gemini and Itbit, on the other hand, were added with a slight weight to two indexes - BXBT (Bitcoin price index every minute) and BETH (Air price index every minute).
European stocks rose modestly on Friday after a strong report on the US labor market and an unexpected improvement in manufacturing activity in China. The composite index of the largest enterprises in the region, the Stoxx Europe Index 600, grew by 0.68% to 399.43. However, over the week the index fell 0.6%. Almost all sectors and major exchanges completed trading in positive territory. The growth leaders were in the automotive and mining sectors.
Official data released on Friday showed that manufacturing activity in the world's second largest economy grew at the fastest pace since February 2017, as both export orders and production increased. The expansion surprised analysts and contradicted official production data released Thursday.
Meanwhile, data from the US Department of Labor showed that non-farm employment increased in October by 128,000, which far exceeded economists' estimates (+89,000). As for individual stocks, Swedish Loomis quotes jumped more than 6% after the cash processing company reported revenue growth in the third quarter.
In October 2019, the National Clearing Center (part of the Moscow Exchange Group) received the status of a clearing member on the Shanghai Gold Exchange (SGE). Access to SGE was carried out within the framework of an agreement on cooperation between exchanges, signed in April 2018, as well as a memorandum on cooperation in the field of exchange trading in gold between the Bank of Russia and the People's Bank of China, signed in September 2017. The status of a clearing member in the future will allow the Moscow Exchange to implement a trading and clearing link with the Shanghai Gold Exchange. This will help increase the liquidity and trading volumes of precious metals on the Moscow Exchange, diversify sales markets and increase the efficiency of gold operations for Russian precious metals market participants and their customers.
The Moscow Exchange is steadily developing cooperation with leading Chinese exchanges and financial institutions.
Japanese stocks rose to a high in more than a year on Tuesday, as the US and China are one step closer to weakening the trade war, which has improved prospects for company profits. The Nikkei Index rose 0.47% to 22.974.13 points. Earlier, it reached 23.008.43 points, the peak since October 11, 2018. Since the beginning of the year, the index added 14.25%. The broader Topix Index rose 0.86% to 1.662.68 points, peaking since December 4, 2018. The largest growth was seen in shares of Nitto Denko Corp, a manufacturer of materials for chips and automotive products, which grew by 6.48%. Shares of pharmaceutical company Sumitomo Dainippon Pharma Co Ltd added 4.25%, while shares of non-ferrous metals producer Toho Zinc Co Ltd - 3.71%.