US natural gas may follow crude oil as the next commodity to enter super-contango. Near-term natural gas contracts are priced at a 25-year low as the coronavirus pandemic has shutterd businesses worldwide and slashed gas consumption.
Turmoil from the coronavirus outbreak has caused Hong Kong Exchanges and Clearing to see average daily turnover of futures and options contracts jump 9% during the first quarter over last year. Meanwhile, the Australian Stock Exchange saw its Q1 futures and options contracts rise a tenth over last year.
European banks are asking the European Commission to delay the implementation dates for the market risk reporting rules under the Fundamental Review of the Trading Book, sources say. Market participants are warning that preparing for the standardized reporting rules is adding more strain to the current uncertain environment caused by the coronavirus outbreak.
Goldman Sachs chief technology officer Atte Lahtiranta discusses the challenges of shifting the bank's 38,000 employees to remote working amid the coronavirus pandemic. Lahtiranta also discusses Goldman's push into new technology, saying "we are going to be adopting new technology, not as a fast follower but in many cases as a leader."
The Bank of Korea has established a 22-month pilot program to explore the technical and legal possibilities of introducing a central bank digital currency to replace physical cash. The central bank says it abandoned its wait-and-see stance after Japan and the US started showing more interest in CBDCs.
Biotech startup Second Genome has entered a collaboration with Gilead Sciences to identify microbiome-based markers. Second Genome is receiving $38 million upfront under the deal, and could see up to $1.5 billion if certain milestones are reached.
Kurly, a South Korean grocery and produce delivery startup that also goes by the name Market Kurly, raised $150 million in its Series E funding round. Kuly's business model prioritizes convenience over price.
Privitar, a British startup that helps businesses analyze big data without violating their customers' privacy, raised $80 million in a Series C funding round led by Warburg Pincus, which also included investments from ABN AMRO and Salesforce Ventures. With the new capital the company will broaden the range of its platform's capabilities, add personnel and bolster its position in international markets.