Market Infrastructure

Hardware Failure Causes Full Day Closure at Tokyo Exchange

01/10/2020

The TSE apologised for inconvenience caused to investors and said it is replacing the faulty hardware. Trading is expected to resume Friday.

Enforcement

ASIC Commences Proceedings Against Cigno, BHF Solutions

01/10/2020

Both companies have been providing credit to a large number of consumers and charging “substantial fees”, without holding an Australian credit licence.

Enforcement

US Authorities Settle JP Morgan Spoofing Charges for $920m

01/10/2020

The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.

Market Infrastructure

SONIA Quoting Conventions to be Adopted in UK Swaps Market

01/10/2020

Interdealer brokers should base quotes in the sterling swaps market on SONIA rather than LIBOR from 27 October, the FCA and BOE say.

Market Infrastructure

DBS, ICBC Issue First Club Loan Pegged to SORA

01/10/2020

The SORA-pegged club loan coupled with a cross-currency swap, which provides added certainty on interest rates and swap SGD proceeds into USD.

Securities / Derivatives

SFC Sets Minimum Period for Client Access to Trade Documents

01/10/2020

Intermediaries have one year to align the minimum online retrieval period of their posted trade documents with the new requirements.

Securities / Derivatives

DTCC Outlines Steps to Fully Dematerialise US Securities Market

01/10/2020

DTCC believes that the industry can achieve full dematerialisation of over 98 percent of all US physical certificates in the next three years.

Capital / Liquidity

China Issues G-SIB TLAC Rules for Consultation

30/09/2020

Under the rules, China’s G-SIBs must have loss-absorbing capacity amounting to at least 16 percent of risk-weighted assets starting from 1 January 2025.

Capital / Liquidity

PBOC Enhances Policy Toolbox with CCyB Implementation

30/09/2020

The initial countercyclical capital buffer ratio will be set at zero, meaning capital requirements of banks have not been increased.