MARKET INFRASTRUCTURE

Market Infrastructure

Mirae Asset Daewoo to Launch Payments Business

By Editors | 21/06/2019

The FSC lifted restrictions barring brokerage firms from entering the payments business last December. WeChat Pay will be used in Mirae Asset Daewoo’s new payment gateway.

Market Infrastructure

FMSB Issues Draft Good Practice Statements on Conflicts of Interest

By Editors | 21/06/2019

The FICC Markets Standards Board provides new guidance to help market participants identify, prevent, manage and mitigate conflicts of interest.

Market Infrastructure

BOC Becomes LCH’s First Chinese Clearing Member

By Editors | 21/06/2019

Bank of China now has access to clearing of interest rate derivatives at LCH, and can act as a clearing broker to offer the service to its clients.

Fintech / Regtech

Cambodia Selects Three Banks to Pilot QR Code System

By Editors | 21/06/2019

The QR code system developed by Siam Commercial Bank will enable cross border payments between Cambodia and Thailand using local currencies.

Market Infrastructure

Culture is Being Approached from the ‘Wrong Angle’

By Manesh Samtani | 20/06/2019

The risk culture expert ASIC engaged to observe bank boardrooms says the approach of judging culture moralistically needs to shift to a more proactive approach that assesses risk.

Fintech / Regtech

Singapore Banks Well-Equipped Against Fintech Threat: Moody’s

By Garima Chitkara | 20/06/2019

Singapore’s three largest banks are well placed to ward off threats to their market share by fintech firms, even as friendly regulatory policies encourage greater growth in the sector.

Market Infrastructure

FSC, FSS Agree to Audit KRX, Disagree on Scope

By Editors | 20/06/2019

The FSS and FSC have agreed to conduct an audit of KRX by year end, though they disagree on its possible scope and comprehensiveness.

Fintech / Regtech

HSBC Scraps Fees Ahead of Virtual Bank Launches

By Manesh Samtani | 20/06/2019

HSBC will remove below-balance, counter transaction and annual fees for most personal savings accounts as it braces for incoming competition from newly approved virtual banks.

Market Infrastructure

CSRC, PBOC Ask Leading Brokers to Support Smaller Peers

By Editors | 19/06/2019

Nine leading brokerages and fund managers have reportedly been asked to provide liquidity support to smaller securities firms and funds to help ease cash shortfalls.