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02:44
Shanghai Clearing House and China Foreign Exchange Trade System: Optimized foreign currency repo services will be launched from June 22
Golden Ten Data reported on June 18 that the China Interbank Market Clearing House Co., Ltd. and China Foreign Exchange Trade System issued a notice on June 18. To further optimize foreign currency repo transactions and clearing services, and to meet the needs of market institutions for collateral management and diversified settlement methods, the Shanghai Clearing House and the China Foreign Exchange Trade System will launch optimized foreign currency repo services starting from June 22, 2026. During the term of foreign currency pledged repo transactions, both parties may initiate collateral substitution for unsettled transactions via the Shanghai Clearing House integrated business system or the China Foreign Exchange Trade System’s FX trading system, which will take effect upon counterparty confirmation. Before the settlement date, both parties may initiate cash settlement through the Shanghai Clearing House integrated business system. The Shanghai Clearing House will complete the outright repo settlement at maturity according to the cash settlement instructions. The specific launch schedule for the China Foreign Exchange Trade System will be announced later.
02:41
The Bank of Japan is expected to steadily move toward a 2% terminal interest rate, with another 25 basis point hike possible in October.
(1) Sumitomo Mitsui DS Asset Management strategist Masahiro Ichikawa expects the Bank of Japan to maintain a steady tightening path, ultimately raising rates to a terminal level of 2.0%. (2) He anticipates the specific path will be: a 25 basis point rate hike in October, followed by further tightening in March and September 2027 and March 2028. (3) Currently, the overnight index swap market reflects an approximately 80% probability of an additional rate hike within the year, but Ichikawa believes that market expectations still have room to be adjusted upwards. The Bank of Japan this week has already raised interest rates to 1% and reiterated its commitment to further rate increases.
02:41
CAP token auction concludes: FDV reaches $106 million with 5.5x oversubscription
Foresight News reports that the stablecoin protocol Cap Labs has tweeted that the CAP token auction has concluded. A total of 1,002 unique bids were received in this auction, with total commitments reaching 16.4 million US dollars. The final clearing price was 0.011 US dollars, representing an oversubscription multiple of 5.5 times. Based on the final clearing price, CAP's fully diluted valuation (FDV) is approximately 106 million US dollars.
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