Securities / Derivatives

CFETS to Launch Interest Rate Options Pilot in February

07/01/2020

Market participants must demonstrate adequate internal operating procedures and risk management systems are in place, and apply by 7 February to become interest rate option market trading members.

Market Infrastructure

UPDATED – 21 Digital Bank Licence Applications Received: MAS

07/01/2020

MAS will announce the successful applicants in June 2020. The new digital bank licencees will be expected to commence business by mid-2021.

Securities / Derivatives

HKEX Chief Lays Out Vision for Decade Ahead

07/01/2020

Charles Li says HKEX will leverage the disruptive power of technology to enhance connectivity between China and the rest of the world in stock, bond and commodity markets.

Securities / Derivatives

RBI Expands Scope of Currency Derivatives Reporting Regime

07/01/2020

To date, the reporting framework only required banks to report currency derivatives transactions worth over $1mn. All transactions below this threshold now have to be reported.

Securities / Derivatives

PBOC Clarifies Handling of Defaulted Interbank Bonds on Maturity

07/01/2020

The clarification is aimed at improving the disposal mechanism for interbank bonds that have defaulted on maturity or have matured early due to legal reasons such as bankruptcy.

Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity

07/01/2020

Universal banks, commercial banks and their subsidiary thrift banks and quasi-banks are required to submit the ‘report on intraday liquidity’ by end-June 2021, and every month thereafter.

Market Infrastructure

RBI Names Six ‘Significant’ Financial Benchmarks

06/01/2020

Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

Enforcement

Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses

06/01/2020

Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.

Market Infrastructure

Philippines Approves Introductory Rules for Islamic Banking

06/01/2020

The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.