Market Infrastructure

Market Infrastructure

US SEC Recognises NZX as Designated Offshore Market

By Editors | 11/04/2019

NZX participants will no longer be required to maintain a reasonable belief that clients are non-US domiciled persons in order to trade on their behalf.

Fintech / Regtech

HKMA Grants Fourth Virtual Bank Licence to WeLab Digital

By Editors | 11/04/2019

The HKMA has granted a fourth virtual bank licence to WeLab Digital, the first stand-alone company to receive the licence.

Securities / Derivatives

Close-Out Netting Essential for Asia Derivatives Markets – ISDA

By Manesh Samtani | 11/04/2019

Close-out netting is the single most effective tool for reducing credit risk between counterparties, says ISDA chief Scott O’Malia, highlighting the ambiguity over its treatment in key jurisdictions.

Enforcement

UniCredit China Employee Embezzled $15mn of Client Money

By Editors | 10/04/2019

The employee allegedly used a group supervisor’s password to access the funds, which were used to buy apartment units in the US, Greece and Japan.

Securities / Derivatives

Digital Asset, ISDA Collaborate to Drive Adoption of ISDA CDM

By Editors | 10/04/2019

Digital Asset will help create a new reference code library that will simplify and standardise the process of generating lifecycle events defined in the ISDA Common Domain Model.

Market Infrastructure

Payments Connectivity Sees Continued Progress in ASEAN

By Editors | 10/04/2019

Bank of Thailand outlined a number of key initiatives with other ASEAN nations to increase regional connectivity in cross-border payments.

Market Infrastructure

DTCC Partners with Droit to Automate Pre-Reporting Decision-Making

By Editors | 10/04/2019

DTCC’s pre-reporting solution can now determine – in real-time – the global cross-regulatory reporting implications and obligations for a particular transaction.

Market Infrastructure

RBI to Unify Complaints Handling for Digital Payments

By Editors | 10/04/2019

The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.

Market Infrastructure

Australia Consults on Payments System Migration to ISO 20022

By Editors | 10/04/2019

The RBA and Australian Payments Council have issued a consultation to help the industry agree on key strategic decisions for migrating the payment system to ISO 20022 by end-2024.