Securities / Derivatives

Moscow Exchange Revises Trading Hours to Attract China Traders

18/02/2021

Russia’s main bourse will open three hours earlier to promote currencies and derivatives trading by Chinese market participants.

ESG / Sustainability

Trade Bodies Set Out Framework for US Transition to Low-Carbon

18/02/2021

The framework sets out ten principles to inform the policymaking process and catalyse the transition to a more sustainable and inclusive low-carbon economy.

Market Infrastructure

ASX Proposes Changes to Netting, Settlement Workflows

18/02/2021

The proposed changes will allow the CHESS replacement system to be scaled to much higher volume levels than previously envisaged, ASX said.

Securities / Derivatives

SGX May Introduce SPACs This Year, Subject to Market Support

18/02/2021

SGX chief Loh Boon Chye says SPACs could facilitate access to capital while minimising market risk exposure by providing another avenue for investment.

Big Picture

Singapore Rated Asia’s Top Regulatory System, Followed by Hong Kong

18/02/2021

Duff & Phelps survey respondents rated the UK as the world’s top regulatory regime, followed by Singapore and the US, which tied for second place.

AML / KYC

Ant Group Undeclared Beneficial Owners Caused IPO Suspension

18/02/2021

The Wall Street Journal says Ant Group’s IPO was suspended last year due to its complex ownership structure and an unease over the likely beneficiaries of the listing.

US Court Rules Against Citigroup Over Revlon Error Payment

18/02/2021

The federal judge ruled that a group of asset managers are not required to return $501mn that Citigroup mistakenly paid early on behalf of Revlon last August.

Market Infrastructure

UK Consults on Legal Safe Harbour to Manage LIBOR Wind-down

18/02/2021

The consultation seeks views on whether a legal safe harbour could be a helpful supplement to the provisions inserted into the BMR by the Financial Services Bill.

Capital / Liquidity

Philippine President Duterte Signs ‘Bad Bank’ Bill Into Law

17/02/2021

The law will help cushion lenders from a build-up of bad loans due to the Covid-19 crisis, allowing them to dispose of bad assets and keep the banking system stable.