Financial Markets
Top stories summarized by our editors
5/21/2018

The European Central Bank has introduced the Euro Short-term Rate, an unsecured overnight rate designed to complement benchmark reference rates. Ester "will be produced before 2020," the ECB says.

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Reuters
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ECB, ESTER, ESTER, European Central Bank
5/21/2018

LMAX Exchange has added bitcoin, ethereum, litecoin, ripple and bitcoin cash to its trading platform, hoping to draw banks, asset managers and wealth funds into the cryptocurrency market. LMAX's London data center will initially handle trading, though the exchange plans to establish LMAX Digital in Tokyo and New York in coming months.

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LMAX Exchange, LMAX
5/21/2018

Citigroup reduced derivatives exposure to $301.8 billion in the first quarter from $308.5 billion in Q4. Exposure decreased $38.7 billion in Q4.

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Citigroup
5/21/2018

The International Swaps and Derivatives Association plans to launch a consultation on contingency for derivatives if the London Interbank Offered Rate ends before participants move to another reference interest rate.

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ISDA
5/21/2018

The Securities and Exchange Board of India has proposed opening some of the physical-commodity derivatives market to foreign entities, as recommended by the Commodity Derivatives Advisory Committee. "The participation by these entities may in the long run pave way for Indian markets in becoming price setters for some of the global commodities," the regulator says.

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SEBI
5/21/2018

Accent Therapeutics, a startup researching the biology of RNA modification, has raised $40 million in a funding round. Co-founder Bob Copeland says the company will need additional funding before it takes its first drug to human testing.

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Xconomy
5/21/2018

The way to make America's startups more diverse is to get more women and minorities onto the capitalization table at the beginning of a company's life, according to entrepreneur and investor Sarah Kunst. "Founders should make sure to look for co-founders, advisers, employees and angels who are from varied backgrounds, a smart move given that diverse teams are smarter," she writes.

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Sarah Kunst
5/21/2018

Ojo Labs, an artificial intelligence startup working on chatbots tailored to real estate businesses, raised $20.5 million in its most recent funding round. Investors included Realogy Holdings, Royal Bank of Canada, Northwestern Mutual Future Ventures and ServiceMaster.

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Xconomy
5/21/2018

La Belle Vie, an online grocery startup based in Paris, raised $6.5 million in its most recent funding round. The company plans to open a second warehouse in Paris and then expand in other cities, beginning with Lyon, France.

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TechCrunch
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La Belle Vie
5/21/2018

British online food and recipe platform Whisk has acquired one of its competitors, Germany-based Avocando. According to sources, the acquisition was an all-cash deal, and Avocando's team, technology and customers will all become part of Whisk.

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TechCrunch