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Market Infrastructure
Misguided Derivatives Regulation Distorts Markets
By Peter Guy | 23/07/2018
Basel’s new capital rules have impacted global derivatives markets by purging participants and liquidity. Whether or not this was the intended outcome, it will create onerous costs for entire markets and consumers.
Market Infrastructure
SGX Proposes Clearing House Enhancements for Managing Defaults
By Editors | 23/07/2018
Proposals include introduction of auction protocol for liquidating defaulted derivatives clearing members’ positions, with a mechanism to distribute the resulting losses.
Market Infrastructure
Australia Consults on Second Tranche of CCIV Bill
By Mark Pufpaff | 23/07/2018
The bill covers winding up administration for corporate collective investment vehicles, and director liabilities for contraventions of the law, among others.
Market Infrastructure
A Different Approach to Accelerating Settlement and Reducing Risk
By Murray Pozmanter | 19/07/2018
Optimising settlement and moving beyond T+2 will enable firms to reduce capital requirements, systemic risk and operational costs while preserving resiliency of existing infrastructure.
Market Infrastructure
HKMA Lays Out Regulatory Framework for Open API
By Garima Chitkara | 19/07/2018
The HKMA is set to launch an Open API on its website to make financial data more accessible to consumers and facilitate client onboarding by banks starting 23 July; the API will begin with providing 50 sets of financial data.
Market Infrastructure
SEBI Proposes New Rules for Auditors, Other Fiduciaries
By Manesh Samtani | 19/07/2018
Under the new proposals, fiduciaries providing false information in audit or valuation reports will face stringent penalties, including bans from securities markets and forced repayment of any gains deemed unlawful.
Market Infrastructure
SFC Fund Manager Code of Conduct – Five Steps to Compliance
By Derek McGibney | 17/07/2018
Investment management firms with operations in Hong Kong must turn their attention to the new SFC Fund Manager Code of Conduct, which comes into force in four months.
Market Infrastructure
ISDA Consults on Fallback Benchmarks for Discontinued IBORs
By Garima Chitkara | 16/07/2018
ISDA proposes adjustment options that will be applicable to fallback rates in the event a derivative references an IBOR that has been permanently discontinued; FSB cautions on the use of overnight RFR to replace term IBORs.
Fintech / Regtech
Shanghai Bourse Studies Use of DLT for Securities Markets
By Garima Chitkara | 16/07/2018
In a research paper, the SSE envisions DLT efficiency in post-trade settlement and securities issuance and trading, calling on regulators to “adapt to evolving technology.”
Market Infrastructure
ESMA Seeks Extension of Intragroup Clearing Exemption
By Garima Chitkara | 16/07/2018
In intragroup transactions involving a third country entity, ESMA is seeking to extend its temporary clearing exemption for derivatives transactions.
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