MARKET INFRASTRUCTURE

Market Infrastructure

PBOC Grants Bank Card Clearing Licence to Amex JV

By Editors | 14/06/2020

American Express has become the first foreign company to receive a network clearing licence in China, which will allow it to compete with Tencent, Alipay and China UnionPay for market share.

Market Infrastructure

New Zealand’s New Conduct Regime Not Adequately Developed

By Editors | 13/06/2020

The bill to introduce a new conduct regime in New Zealand is not yet adequately developed, say Consumer New Zealand, the NZBA, and the Financial Services Council.

Market Infrastructure

NAB to Lift Industry Standards with Bank-Wide Education Programme

By Editors | 12/06/2020

The programme, to be launched in partnership with FINSIA, will be rolled out for all of NAB’s Australia and New Zealand bankers and support staff.

Market Infrastructure

WFE Issues Guidance on CCP Handling of Non-default Losses

By Editors | 11/06/2020

At the ten largest CCPs, no CCP has ever allocated a loss to a clearing member related to custody or collateral investment through its rulebook, the guidance makes clear.

Market Infrastructure

MAS’ Menon Warns of Looming Debt Risks, Ratings Downgrades

By Manesh Samtani | 11/06/2020

If Covid-19 is not contained, debt will accumulate and credit risks will mount, leading to ratings downgrades which will exacerbate existing stresses and cause asset sell-offs.

Big Picture

FMSB Offers Guidance on LIBOR Transition Conduct Risks

By Editors | 11/06/2020

Uncertainties associated with the transition may make it harder for firms to identify how to treat their customers fairly, and to demonstrate that they have done so, the FMSB says.

Market Infrastructure

High-Level Forum Charts Course to Achieve EU Capital Markets Union

By Editors | 11/06/2020

In a new report, the EU’s High-Level Forum on capital markets union offers specific recommendations on developing deeper, more dynamic and more harmonised markets across EU member states.

Market Infrastructure

China to Develop Hainan Province into Global Free Trade Port

By Editors | 09/06/2020

The first phase of the plan will focus on liberalising trade and cross-border investment, starting with the launch of QDLP and QFLP pilot programmes.

Market Infrastructure

BNY, Deutsche to Set Up FX Trading Infrastructure in Singapore

By Editors | 08/06/2020

Seven major firms have already set up FX pricing and matching engines in Singapore, the result of a MAS initiative to lower routing latencies in the city-state.