Market Infrastructure

Market Infrastructure

BOJ Forms Benchmark Reform Committee

By Editors | 24/07/2018

Committee to discuss developing recommendations on JPY interest rate benchmarks, the challenges arising from each and proposals for other solutions.

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.