search.noResults

search.searching

saml.title
dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
4-7 J.P. Steiner New Issuance? No Problem! Over the past two years, the U.S. Treasury has increasingly been reliant on Treasury bills (T-bills) to meet its financing needs, a shift driven by the high cost of financing long-term debt and volatile macroeconomic environment.


9-11 Tom Higgins


The Rise of Crypto & How This Will Shape the Future of FX The FX market has always thrived on innovation. From electronic trading to the rise of algorithmic execution, every major technological shift has reshaped how liquidity is sourced, priced, and delivered. We are now at the next major inflection point: the integration of crypto liquidity into the broader FX ecosystem.


12-13


Edwin Burgers How the dairy market ended up in a perfect storm The dairy year 2025 has caught nearly everyone off guard, especially in Northwest Europe. At the start of the year, the expectation was that milk volumes would decline. The opposite has happened. Production has increased so rapidly that some people are speaking of a true “milk tsunami”.


Jon Shamah Digital Wallets: The Future of Secure and Efficient Transactions As digital transformation is reshaping every aspect of our lives, Digital Wallets emerge as a groundbreaking innovation poised to revolutionise the way we manage our identities and conduct transactions.


14-15


16-17 Alberto Peixoto Sweet Sugar, but sweeter for some than others! What a beautiful sunny morning, with birds singing and sun shining! Well, that’s how Coffee Roasters may be feeling with the 40% tariff on Brazilian Coffee (and other Commodities/Products) being cancelled by the US Gov.


18-19 Marc Ostwald The Perception Reality Divide Revisited’ In one of the earlier editions of the Ghost in the Machine back in 2016 (click here to read) I wrote about the disconnect between the financial and the real (non- financial) economy.


20-21 Eddie Tofpik


‘Tis the Season’…to kick the can down the road! Another multinational initiative pushed back!


22-24 Nathan Cartmill Rachel Lindstrom Reimagining the Middle Office The middle office plays a crucial, yet often underappreciated role in investment banking operations. As the name suggests, middle- office processes, people and technology sit between the client-facing, revenue-generating front office and the operationally- intensive back office.


26 27 28


ADMISI Youtube Playlist


ADMISI Events ADMISI Social Links


About Grains & Oilseeds 29


The Ghost In The Machine Library


31 About ADMISI


About Soft Commodities 30


3 | ADMISI - The Ghost In The Machine | Q4 Edition 2025


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32