MARKET INFRASTRUCTURE

AML / KYC

HKEX Publishes Operational Details for New Investor ID Regime

By Manesh Samtani | 15/08/2021

Market system development and testing will start in Q3 2021 and intermediaries will have to develop their internal systems by the end of Q1 2022.

Market Infrastructure

Banks Already Pricing Transition Risks in Loans: HKMA

By Manesh Samtani | 15/08/2021

New research finds that APAC banks are charging ‘brown’ firms a higher lending rate than ‘non-brown’ firms, by around 23 basis points, since the Paris Agreement.

Market Infrastructure

Japan Decides Start Date to Shift Cross-currency Swaps to RFRs

By Editors | 15/08/2021

Japan will change interdealer trading conventions for cross-currency basis swaps from LIBOR to RFRs on 21 September.

Enforcement

ASIC to Adopt ‘Reasonable Approach’ to Financial Sector Reforms

By Ranamita Chakraborty | 13/08/2021

ASIC will take a ‘reasonable approach’ to technical or inadvertent breaches, in recognition that six new reforms taking effect in October will present challenges to firms.

Market Infrastructure

ACCC Sees Price Transparency Improvements Among FX Remitters

By Sanday Chongo Kabange | 13/08/2021

The ACCC says 12 of 15 prominent remitters are either adhering to best practice for price disclosure or need to make only minor improvements.

Market Infrastructure

Refinitiv Launches Prototype USD Fallback Rates for Cash Products

By Editors | 13/08/2021

There are two versions of the Refinitiv USD IBOR Cash Fallbacks: one for consumer cash products, the other for institutional cash products.

Big Picture

IPCC Reaction: Political Leadership Needed to Drive Transition

By ESG Investor | 12/08/2021

“Concrete and actionable carbon-reduction strategies” required from governments to drive capital reallocations, say investors, while reinforcing commitment to science-based targets.

Market Infrastructure

DTCC Urges Readiness for MAS Derivatives Reporting Requirements

By Sanday Chongo Kabange | 12/08/2021

Finance companies, subsidiaries of banks in Singapore, insurers and CMS licence holders will come into scope for reporting from 1 October.

Market Infrastructure

DSB Signs MoU on UPI Governance Arrangements

By Editors | 12/08/2021

The Derivatives Service Bureau and Regulatory Oversight Committee will cooperate to enshrine governance and oversight arrangements in the UPI service.