MARKET INFRASTRUCTURE

Fintech / Regtech

HKMA Issues Guidance on Managing Cloud Computing Risks

By Manesh Samtani | 02/09/2022

Banks’ agreements with CSPs should ensure the HKMA can access information stored in the cloud and relevant risk management controls for on-site examinations.

Market Infrastructure

ORX, McKinsey Launch Operational Risk Control Library

By Editors | 01/09/2022

The ORX Reference Control Library contains 761 typical operational risk controls based on data collected from nearly 50 banks and insurers.

Fintech / Regtech

SWIFT Applies Data Intelligence to Remove Payment Friction

By Editors | 01/09/2022

SWIFT says its new capability ensures payments will go through regardless of whether the parties have transacted with each other before.

Market Infrastructure

Bangladesh Bank to Enable FX Clearing via RTGS System

By Editors | 01/09/2022

Banks can clear USD, GBP, EUR, CAD and JPY through the RTGS system starting from 4 September. CNY clearing will be allowed “soon”.

Market Infrastructure

IBA Consults on Cessation of USD LIBOR ICE Swap Rate

By Editors | 31/08/2022

USD SOFR ICE Swap Rate settings are available for the same tenors for use as a benchmark in financial contracts and instruments.

Big Picture

BIS Examines Adequacy of Operational Resilience Requirements

By Editors | 31/08/2022

Bigtech groups that are interconnected within the financial industry should be subject to group-wide requirements on operational resilience.

Market Infrastructure

Singapore Industry Group Launches New Funds Settlement Utility

By Editors | 31/08/2022

The utility will reduce manual steps, centralise processing, and facilitate reconciliation, thereby reducing settlement time and improving efficiency.

Fintech / Regtech

US to Launch FedNow Instant Payments Platform in Mid 2023

By Editors | 31/08/2022

The technical testing phase of the new FedNow Service will kick off in mid-September. The service will be ready to launch between May and July of 2023.

Securities / Derivatives

Sri Lanka Launches Third Phase of Capital Market Digitisation

By Duruthu E Chandrasekera | 30/08/2022

SEC chairman Viraj Dayaratna said the CSE will introduce new products, including paper gold, SPACs, Islamic products, structured warrants and green bonds.