Clearing & Post-Trade

CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA

01/10/2020

Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.

Trading & Investment

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.

Supervision & 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.

Market Abuse

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.

Trading & Investment

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.

Trading & Investment

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.

Conduct, Culture & Accountability

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.

Clearing & Post-Trade

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.

Resolution & Recovery

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.