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NEWS TICKER, Tuesday, AUGUST 4TH: The US inland revenue service says the FATCA International Data Exchange Service (IDES) will be unavailable this weekend from 6:00 pm Eastern Daylight Time (EDT) (UTC/GMT -4) on Saturday, August 8th until 2:00 am EDT on Sunday, August 9th. This extends the regularly scheduled maintenance window by an additional 2 hours – According to Telecoms.com Apple has been trialling a mobile virtual network operator (MVNO) service in the US and is in talks to launch one in Europe too. Apple filed a patent in 2006 detailing an MVNO set up in which Apple acts as the hub for a number of networks. The idea seems to be for there to be some kind of real-time process in which network operators effectively bid for business each time an Apple MVNO subscriber wants to make a call for example. Apple has already installed an embedded SIM in the latest iPads, so its interest in controlling the relationship between users of its devices and mobile networks is already apparent. The specialist web news service says that Apple is also reportedly working on using Siri to automatically transcribe voicemails. However, any application is years away. Symbiont, a pioneer in the use of the blockchain and distributed ledger technology in capital markets, today issued the first Smart Securities™ on the Bitcoin blockchain. Symbiont’s live platform allows institutions and investors to issue, manage, trade, clear, settle and transfer a range of financial instruments more efficiently on decentralized and distributed peer-to-peer financial networks that are cryptographically secured. Initial use cases for Smart Securities include corporate debt, syndicated loans, securitised instruments and private equity. Generically known as “smart contracts”, these instruments are programmable versions of traditional securities issued on any type of distributed ledger, such as a blockchain. Once a security is issued onto the ledger, it acts autonomously, eliminating traditionally manual mid- and back-office functions. Mark Smith, CEO and co-founder of Symbiont. “With interest in distributed ledger technology growing rapidly, financial institutions are exploring how to leverage it to improve the efficiency and security of trading and processing financial transactions. Smart Securities™ will ultimately change the way that financial instruments are issued, managed, and traded.” Symbiont was formed as a combination of MathMoney (fx) and Counterparty, the most successful Bitcoin 2.0 project, which was founded in 2013. Mark Smith is joined at Symbiont by co-founders Robbie Dermody (President); Evan Wagner (MD, Operations); and Adam Krellenstein (CTO).

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Creditor's steering committee formed for BTA Bank

Monday, 06 February 2012
Creditor's steering committee formed for BTA Bank Kazakhstan's BTA Bank says that following the meetings arranged over the past two weeks with holders of the bank’s senior, OID and subordinated Notes, its recovery units and participants in the RCTFF, a steering committee has now been formed to represent the interests of its various creditor stakeholders. http://www.ftseglobalmarkets.com/

Kazakhstan's BTA Bank says that following the meetings arranged over the past two weeks with holders of the bank’s senior, OID and subordinated Notes, its recovery units and participants in the RCTFF, a steering committee has now been formed to represent the interests of its various creditor stakeholders.

The steering committee comprises a diversified and representative group of the bank’s public and private sector creditors and includes certain funds and accounts managed or advised by Ashmore Investment Management Limited, the Asian Development Bank, the DE Shaw Group, FFTW UK Limited – a BNP Paribas investment partner, Gramercy Funds Management LLC, JP Morgan Securities Ltd, Nomura International plc and VR Capital Group Ltd.

A seat on the steering committee is also reserved for the Swedish Export Credits Guarantee Board (EKN, which has been participating on a preliminary basis for the purposes of forming the steering committee) and a seat is also reserved for a representative of participants in the RCTFF.



Members of the steering committee collectively hold the Bank’s Senior Notes, OID Notes, Subordinated Notes and Recovery Units. A meeting of the steering committe and its legal advisors is expected to take place on February 8th.

Anvar Saidenov, BTA's chairman says, “We welcome the establishment of the steering committee, which is an important step forward in the bank's restructuring plans. [We recognise] the importance of building a broad consensus for the restructuring process and is pleased by the diversity of creditors and believes that the steering committee will be effective given their representation and restructuring experience. While much work remains to be done we believe that, with goodwill and constructive engagement on all sides, the Steering Committee can help us to arrive at the best solution for the Bank and all its stakeholders.”

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