MARKET INFRASTRUCTURE

Market Infrastructure

FMSB Issues Draft Standard on ‘Appropriate’ Use of Term SONIA

By Manesh Samtani | 28/03/2021

The main use cases where a robust rationale may be identified for using Term SONIA in lending products include trade finance, working capital, and Islamic finance products.

Market Infrastructure

Cboe Global Markets to Acquire Chi-X Asia Pacific

By Sanday Chongo Kabange | 28/03/2021

The acquisition will provide Cboe with a single point of entry into Australia and Japan and bring block trading capabilities to the APAC region.

Market Infrastructure

HKMA Releases Banks from 30 June LIBOR Transition Milestone

By Manesh Samtani | 26/03/2021

International banks say prematurely restricting the issuance of LIBOR-linked contracts may result in fragmented markets.

Fintech / Regtech

BIS, SWIFT Announce Winners of ISO 20022 Hackathon

By Editors | 25/03/2021

The winners were Atomic Wire, Mojaloop, Virtusa and AWS for solutions that help to enhance cross-border payments using ISO 20022 and APIs.

Market Infrastructure

BOT Issues First Floating Rate Bonds Based on THOR

By Editors | 25/03/2021

Investor interest was stronger than expected, with subscriptions amounting to more than four times the proposed issue size.

Market Infrastructure

Continued LIBOR Use Presents ‘Safety and Soundness’ Risks

By Manesh Samtani | 25/03/2021

ARRC will not be able to recommend a forward-looking SOFR term rate by mid-2021. New York has approved legislation to facilitate transition for tough legacy contracts.

Market Infrastructure

PBOC, SWIFT to Establish Cross-border Payment Stability

By Editors | 25/03/2021

The PBOC’s joint venture with SWIFT will build a localised messaging network to provide Chinese FIs with a more stable connection to the main SWIFT network.

Enforcement

DOJ to Probe Visa Over Debit Card Routing Practices

By Ranamita Chakraborty | 24/03/2021

Visa is alleged to have engaged in anti-competitive practices by preventing merchants from routing payments through other card networks.

Market Infrastructure

SEBI Issues Guidelines for MIIs on Handling Disruptions

By Sanday Chongo Kabange | 24/03/2021

The new guidelines follow last month’s trading halt at the NSE. The exchange has submitted a root cause analysis to SEBI.