Market Infrastructure

Big Picture

BIS Paper Offers Options for Regulating Big Tech

By Manesh Samtani | 04/10/2022

One option is to group financial activities into a dedicated subgroup under an FHC structure. A second is to create a new regulatory category for big tech financial groups.

Market Infrastructure

Hong Kong to Launch Dual Counter Trading in H1 2023

By Editors | 03/10/2022

A market-maker system will be established to facilitate yuan-denominated stock trading. Stamp duty will be waived for market makers providing liquidity for yuan shares.

Market Infrastructure

1M, 6M Synthetic GBP LIBOR to Cease at End March, FCA Says

By Editors | 03/10/2022

The FCA is still considering when to cease the 3-month synthetic GBP LIBOR setting, and whether to compel IBA to produce synthetic USD LIBOR settings after mid 2023.

Market Infrastructure

RBA Expresses Concerns Over CHESS System Delays in ASX Assessment

By Editors | 02/10/2022

ASX recorded a “strike” against the adoption of its remuneration report, which included a A$1.2mn bonus for former CEO Dominic Stevens despite the CHESS replacement delay.

Market Infrastructure

ESMA Calls for Greater Use of €STR in Derivatives

By Editors | 02/10/2022

Further develop of €STR products will provide the inputs needed to enable the calculation and provision of €STR term rates, ESMA says.

Enforcement

Enhanced Penalties for Data Breaches Take Effect in Singapore

By Editors | 02/10/2022

Organisations with annual turnover exceeding S$10mn are liable for penalties for data breaches worth up to 10% of annual turnover.

Securities / Derivatives

SWIFT Launching New Service to Reduce Settlement Fails

By Editors | 02/10/2022

The service will use UTIs to enable automated tracking of both sides of the transaction by all market participants involved.

Market Infrastructure

New Zealand Consults on Regulations to Support CoFi Regime

By Editors | 01/10/2022

Two consultations have been issued, including an exposure draft on regulations defining prohibited volume-based sales incentives.

Capital / Liquidity

Standard Setters Publish Review of Global Margining Practices

By Editors | 30/09/2022

Market volatility and model reactions to volatility were responsible for the majority of the peak increase in IM requirements in March and April 2020.