MARKET INFRASTRUCTURE

Big Picture

IMF Proposes Global Marketplace for Trading Between CBDCs

By Mark Johnston | 14/03/2023

A global marketplace for trading tokenised money such as CBDCs would reduce the need for bilateral trust relationships and improve cross-border payments.

Market Infrastructure

Cuban Banks Have Adopted Russia’s Mir Card Scheme

By Editors | 14/03/2023

ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

By Editors | 13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.

Market Infrastructure

CSRC Finalises New Cybersecurity Rules for Securities, Futures Industry

By Editors | 12/03/2023

The rules include requirements relating to stress testing, data backups, emergency response measures, and management of third-party suppliers.

Market Infrastructure

CFTC to Develop Stronger Rules to Address Cyber Risk

By Editors | 12/03/2023

The CFTC is seeking to require derivatives dealers to exercise more due diligence and oversight of the third-party service providers.

Market Infrastructure

RBI Calls for Fair Pricing, Transparency in FX Market

By Editors | 11/03/2023

The RBI has urged banks and FEDAI to ensure fair and transparent pricing for MSMEs and retail customers in the FX market.

Fintech / Regtech

FIA to Form New Global Taskforce in Response to ION Outage

By Manesh Samtani | 08/03/2023

The taskforce will assess existing cyber protections, response protocols, and safeguards around third-party service providers.

Fintech / Regtech

South Korea Approves Amendments to Data Privacy Law

By Editors | 08/03/2023

The amendment introduces new rights for data subjects, such as the right to data portability, and the right to object to automated decision-making.

Market Infrastructure

China Plans Structural Overhaul of Financial Sector Regulators

By Editors | 08/03/2023

A new national financial regulatory authority will be established, absorbing the CBIRC and taking over some functions from the PBOC and CSRC.