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MARKET INFRASTRUCTURE
Market Infrastructure
ASX CHESS Replacement Project Under Continued Scrutiny
By Sanday Chongo Kabange | 28/06/2023
ASIC chair Joe Longo said ASX had an “engagement problem” and that officials were working to boost oversight of the CHESS replacement project.
Market Infrastructure
Australia Finalises Review of ASIC Funding Model
By Sanday Chongo Kabange | 28/06/2023
The review recommends that ASIC enhance its reporting, transparency and consultation arrangements on the industry funding model.
Market Infrastructure
SEBI to Introduce ‘UPI Block Facility’ for Equity Trading
By Editors | 26/06/2023
The facility allows investors to use blocked funds in their bank accounts for trading, instead of transferring them to the stock broker upfront.
Market Infrastructure
Australia Passes Bill to Establish Compensation Scheme of Last Resort
By Sanday Chongo Kabange | 25/06/2023
The CSLR will facilitate the payment of up to A$150,000 in compensation for financial services consumers who have unpaid determinations from AFCA.
Market Infrastructure
FSC Korea Approves Financial Hub Development Plan
By Sanday Chongo Kabange | 23/06/2023
The financial hub development plan outline measures the FSC will undertake to promote financial hubs in South Korea.
Market Infrastructure
RBA Consults on Options for Enhancing Debit Card Market
By Sanday Chongo Kabange | 23/06/2023
The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.
Market Infrastructure
CFTC to Propose Rule on Operational and Cyber Resilience
By Editors | 23/06/2023
CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.
Market Infrastructure
FSC Korea Designates KOFIA as CD Rate Administrator
By Sanday Chongo Kabange | 23/06/2023
With KOFIA designated as the administrator, the CD rate will begin to have legal effect as a critical benchmark rate starting on 2 October.
Market Infrastructure
Philippines Sets Temporary Replacement Rate for LIBOR
By Editors | 23/06/2023
The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and “credible” yield curve will be developed by January 2024.
Fintech / Regtech
FSB Consults on Third-Party Risk Management Toolkit
By Editors | 23/06/2023
The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.
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