Market Infrastructure

China, Germany Enhance Capital Markets, Banking Cooperation

23/01/2019

The two countries will promote depository receipts, build an offshore market for A-share index derivatives in Frankfurt, and improve access for banks and insurers in either market.

Securities / Derivatives

Bank of Korea to Entrust Foreign Reserves to Local Asset Managers

22/01/2019

South Korea’s central bank said it plans to entrust local asset managers with up to $300mn of its investments in developed markets.

Enforcement

S. Korean Regulator Fines Four Global Banks for Rigging FX Derivatives

22/01/2019

South Korea’s Fair Trade Commission has fined JP Morgan, HSBC, Deutsche Bank and StanChart a combined $613,000 for rigging forex derivative prices.

Securities / Derivatives

China Bourses Ease Restrictions on Lending Against Pledged Shares

22/01/2019

The SSE and SZSE have extended the repurchase period for pledged shares to over three years and loosened restrictions on the number of shares that can be pledged.

Securities / Derivatives

India’s Brokers Push Back Against Higher Margining for Equity Derivatives

22/01/2019

Brokers say SEBI’s new margining norms increase the cost of trading without any real reduction in risk and will result in “unprecedented damage” to India’s equity derivatives market.

Securities / Derivatives

Affin Hwang, Bursa Malaysia Launch Retail SBL Facility

21/01/2019

Affin Hwang Investment Bank and Bursa Malaysia have formally launched a securities borrowing and lending facility for retail investors.

Enforcement

ASIC Officials Fear Excessive Focus on Litigation – Report

21/01/2019

While ASIC officials talk up plans to fund more court cases, behind the scenes they are reportedly concerned about the community backlash and loss of confidence if cases are lost.

Capital / Liquidity

RBNZ Bank Capital Proposal Excessive, Expensive, Unnecessary – UBS

21/01/2019

The RBNZ’s endeavours to strengthen the banks could come at a significant cost to the New Zealand economy, UBS has said in a research note.

Securities / Derivatives

Myanmar to Establish Derivatives Market

21/01/2019

A plan to launch a derivatives market in Myanmar is afoot, but an important step is to put in place an appropriate regulatory regime.