Securities / Derivatives

ASX to Move Bank Bill Futures to Cash Settlement

19/08/2019

It is widely believed that cash-settled contracts will increase trading activity and liquidity into and throughout expiry, and result in lower risk of failed settlement.

Market Infrastructure

PBOC Reforms Interest Rate Setting Mechanism

19/08/2019

The new market-oriented mechanism for calculating the Loan Prime Rate is expected to lower the cost of borrowing nationwide.

Capital / Liquidity

HKMA Adjusts Initial Margin Implementation Schedule

19/08/2019

The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.

Securities / Derivatives

HKEX Proposes Changes to Pre-Open Session, Volatility Controls

19/08/2019

The proposals aim to improve market liquidity and global competitiveness of the Hong Kong market, HKEX says in a new consultation paper.

Market Infrastructure

Malaysia Liberalises FX Hedging Framework

19/08/2019

The policy move is aimed at providing greater flexibility and efficiency in foreign exchange risk management and business operations.

Market Infrastructure

FMA Consults on Exemptions for New Financial Advice Regime

19/08/2019

The FMA considers that it may be useful to continue existing exemption relief for Australian licensees and advisers already meeting ASIC requirements.

Securities / Derivatives

Respondents ‘Broadly Supportive’ of New RMBS Framework: RBNZ

16/08/2019

The RBNZ says submissions to its November consultation were broadly supportive of the proposed new standard for mortgage bonds – the RMO framework.

Market Infrastructure

CSDC Consults on Draft Clearing, Settlement Rules

16/08/2019

The rules cover financial resources management and multilateral netting, specifying how the CSDC will handle defaults from settlement participants.

Enforcement

SFC Fines Sincere Securities for Internal Control Failings

16/08/2019

The SFC and an independent reviewer identified deficiencies across 14 areas of Sincere Securities’ business operations and internal controls, resulting in a fine of HK$5mn.