A 20% ceiling was introduced in 2012 to prevent banks from buying up bonds issued by their own underwriting departments; banks can now buy any portion of a bond sale that is not fully subscribed.
Continuous trading will enable real-time trading by matching orders immediately; existing call auction mechanism collects orders over five seconds before matching occurs.
Testing phase of new platform deployed at financial institutions including BOC, CCB, CMB, Ping An and StanChart, in a bid to boost efficiency of trade and financing activities.
New global initiative announced by ANNA and GLEIF will map ISINs to their corresponding LEIs, effectively linking the issuer and issuance of securities.
On 1 September, India’s postal services launched a payments bank to offer basic banking and remittance services, starting from 650 post offices with an aim to expanding to its network of 155,000 post offices by 31 December.
Hong Kong firms need to step up AML/CFT compliance keeping in mind deficiencies and gaps found during the regulator’s thematic reviews and on-site exceptions.
First commodity derivatives clearing house in India, MCX Clearing Corporation, begins operations from 3 September 2018.garima
Central bank to exempt institutions incorporated overseas from new local IRRBB framework in cases where parent group is not additionally represented in Hong Kong through a locally incorporated institution.
The chairman of Shanghai Fuxing Group fled the country in June amid allegations of market manipulation, after defaulting on bank loans and $2.6bn in investor payouts.
The ex-UOB employee, without a capital markets services licence, had setup a company to invest on behalf of other investors, and later misappropriated SG$520,000 entrusted to him by clients.