Blockchain comes to bond market as Lombard Odier backs $15m deal

first_imgBlockchain also “mitigated counterparty risk” in the transaction and sped up the completion of the deal, Vuille added, “reducing what normally takes a few days to a matter of seconds”.Stéphane Rey, chief technology officer at LOIM, said: “Through this blockchain transaction, we have learned more about using the technology and the more practical aspects that needed to be handled, not least legal and compliance to name a few.”Solidum developed its own blockchain-based system, dubbed ILSBlockchain, to support its transactions in insurance-linked securities.Cedric Edmonds, director of Solidum Re, said the project was in part a reaction to difficulties raising small amounts of capital efficiently through traditional platforms such as Euroclear.The transaction is the latest example of asset managers and other financial services providers exploring the uses of blockchain.Last year, Northern Trust teamed up with IBM to provide a blockchain administration system for a private equity fund run by Unigestion.At the time, Northern Trust’s president of corporate and institutional services Peter Cherecwich said the system was “designed to deliver a significantly enhanced and efficient approach to private equity administration”.Vanguard is currently exploring the use of blockchain in the construction of its index-tracking products, while Dutch pension managers APG and PGGM are jointly working on a blockchain-based administration service. Lombard Odier Investment Managers (LOIM) has completed a bond deal using blockchain technology, in a transaction it claims is among the first of its kind.The manager participated in a $15m (€12.6m) issue of catastrophe bonds by a Guernsey-based subsidiary of insurance specialist Solidum Partners in August.Details of the transaction were recorded and communicated to deal participants via blockchain, a digital ledger technology that has risen to prominence in finance as the backbone of Bitcoin. The system allows participants near-instant access to secure, encrypted records of transactions that would otherwise be handled manually and take several days to complete. These records can be shared with regulators if needed.Simon Vuille, a portfolio manager in LOIM’s insurance-linked strategies team, said the technology had “markedly lowered the transaction costs relative to other settlement methods where costs are prohibitive for transactions of this size”.last_img read more

Medicinal cannabis oil arrives in NZ

first_imgRadio NZ News 8 December 2017Family First Comment: Not smoked or grown in back yard like the Green Party wants. But here’s the key bit:“Trials are underway to test Tilray products’ effectiveness for treating childhood epilepsy, post-traumatic stress disorder and nausea and vomiting in chemotherapy patients.”So it’s STILL being tested for efficacy and safety. The arrival of a new, cheaper medicinal cannabis product in New Zealand is good news for patients but will still be prohibitively expensive for many, advocates say.The cannabis oil, produced by Canadian company Tilray, was first granted an export licence to New Zealand in February, but until now has only been shipped to Middlemore Hospital in Auckland.However, the first shipment that will be made available for GPs to prescribe has now arrived in the country.It contains cannabidiol (CBD) – a cannabinoid that has been shown to have therapeutic properties, but is considered a class B drug under New Zealand law so cannot be advertised or promoted by the company.Medical Cannabis Awareness New Zealand coordinator Shane Le Brun said the product had arrived “in the last week or so”.“It is now available for GPs to prescribe… [but] as an unregistered medicine they can’t make therapeutic claims and as a controlled drug they can’t advertise … so it’s kind of snuck in under the radar.”Since September, doctors have been able to prescribe CBD products without needing approval from the Health Minister.READ MORE: https://www.radionz.co.nz/news/national/345752/medicinal-cannabis-oil-arrives-in-nzlast_img read more

Fury, Wilder separated by security in heated stand-off ahead of rematch

first_imgRead Also: Fury: I’m happy no British judge was selected ahead Wilder rematchInsults continued to fly between the two men, even when the broadcast cut to commercials.The tension was eased by the introduction of each fighter’s trainer on stage and the press conference ended without any further fireworks, or the customary final face-off.Fury and Wilder go to war again on Saturday night, with the winner expected to proclaim himself the best heavyweight in the division.FacebookTwitterWhatsAppEmail分享 Tyson Fury and Deontay Wilder had to be separated by security during a heated and lengthy stand-off before the final press conference.Advertisement Wilder was waiting for Fury when he was invited to make his entrance and the pair immediately went nose-to-nose at the centre of the stage.With no security in sight, the exchange quickly escalated before the Gypsy King shoved his rival after receiving a push from the Bronze Bomber. When calm was eventually restored and the fighters were convinced to sit down, Wilder opened with an angry statement rebuking Fury’s claim he had made the WBC champion a star.Wilder and Fury were immediately in each other’s faces‘This is the final countdown and well should be happy,’ he said.‘This is what we’ve been waiting for. ‘The biggest fight of both our lives.‘I’ve been waiting so long to put my hands on a body, but someone put on their running shoes.’The stand-off lasted for five minutes‘Don’t you ever forget who brought you back to big time boxing,’ Wilder said directly to Fury.‘The fans are here to see me do unfinished business.’Fury, who kept his hood up and dark shades on through-out the presser, responded: ‘Wilder is spouting rubbish.‘I gave him his biggest payday and brought him to Vegas.‘And this is how he thanks me? I’ve fed him, looked after him, he owes me.’Wilder shoved Fury Loading… center_img The presser in Las Vegas was delayed by a full five minutes as security and team members tried to pull the heavyweights away from each other. Promoted Content9 Facts You Should Know Before Getting A TattooPretty Awesome Shows That Just Got CanceledTop 10 Tiniest Phones Ever MadeMind-Bending Technology That Was Predicted Before It Appeared8 Things You Didn’t Know About CoffeeBest & Worst Celebrity Endorsed Games Ever MadeWhat Happens To Your Brain When You Play Too Much Video Games?13 kids at weddings who just don’t give a hoot8 Things That Will Happen If An Asteroid Hits EarthBirds Enjoy Living In A Gallery Space Created For Them7 Universities Where Getting An Education Costs A Hefty Penny6 Incredibly Strange Facts About Hurricaneslast_img read more

RAPHOE TEA DAY A MASSIVE SUCCESS

first_imgGary McCullagh presenting Tony Ryan from the Irish Kidney Association a cheque for €500 for the Irish Kidney Association Hostel at Beaumont Hospital. The money was raised from a bake sale held During the recent Tea Day in Raphoe.The organisers of the Tea Party in aid of the Make a Wish Foundation held recently in Raphoe have hailed the event a massive success this week after they presented two cheques of the proceeds to different organisations.A total of €4,565.13 was raised on the day for the Make a Wish Foundation, while a bake sale held on the same day raised €500 for the Irish Kidney Association Hostel at Beaumont Hospital.The Tea Day on May 28 in Raphoe Boxing Club was attended by a huge number of people from the local community, while sports stars Jason Quigley and Finn Harps captain Kevin McHugh were also in attendance on the day.Organiser of the event, Aileen McCullagh, said she was overwhelmed by the success but said it would not have been possible without the help of so many people. “We would like to say a massive thank you to everyone who helped out in any way on the day, all the businesses who donated baking and vouchers. Thank you to everyone who couldn’t make it but have sent donations and last but not least, thank you to everyone who came along on the day to make it such a big success. We really appreciate all the help and support that was given.”Christian McCullagh pictured presenting a cheque for €4,565.13 to Barbara Kilbride from the Make a Wish Foundation, proceeds of the recent Tea Day held in Raphoe. RAPHOE TEA DAY A MASSIVE SUCCESS was last modified: June 14th, 2016 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:donegalRaphoetea daylast_img read more