Market Infrastructure

Market Infrastructure

China Issues Draft Rules for Depository Receipt Issuance

By Manesh Samtani | 07/05/2018

Rules include requirements related to investor protection, information disclosures; Shanghai-London Stock Connect to allow cross listings of depository receipts.

Market Infrastructure

China Upgrades Interbank Payment System in Phase Two Launch

By JP Reimann | 04/05/2018

CIPS phase two launch extends operating hours to 24 hours on working days, among other improvements to expand participation globally and better meet participants’ needs.

Market Infrastructure

SEBI Issues New Risk Management Guidelines for Derivatives

By Editors | 04/05/2018

Guidelines to take effect in June specify margin calculation methods, collection and enforcement norms, and method of calculation of trading and clearing members’ liquid net worth, effective from June.

Market Infrastructure

Indian Exchanges Seek CFTC Approval for GIFT City Derivatives

By Garima Chitkara | 04/05/2018

NSE and BSE are looking to sell derivatives traded at GIFT City exchanges to American investors; aimed at countering competition with SGX, which is launching its own Indian equity derivatives offering in June.

Market Infrastructure

S.Korea Revamps Approval Process for Aspiring Financial Firms

By JP Reimann | 03/05/2018

FSC to dedicate committee of experts to assessing banking, insurance, securities licenses; aimed at boosting transparency, efficiency, lowering entry barriers.

Securities / Derivatives

China Allows Foreign Ownership Majority at Securities Firms

By Manesh Samtani | 02/05/2018

Ceiling on foreign ownership raised from 49% to 51%, effective immediately; CSRC reviewing first application from UBS to boost stake in China-based UBS Securities.

Market Infrastructure

Singapore to Mandate Central Clearing of OTC Derivatives

By Editors | 02/05/2018

Mandatory clearing to apply to SGD and USD fixed-floating interest rate swaps; applicable to banks with OTC derivatives exceeding SGD20 bn.

Securities / Derivatives

PBOC Announces Stricter Asset Management Rules

By Editors | 02/05/2018

New rules include leverage limits, a ban on implicit guarantees, risk reserve provisioning amounting to 10% of management fees; transition period for full compliance to last until end-2020.

AML / KYC

Regulation in the Age of Cryptocurrencies

By Will Hallatt | 02/05/2018

Blockchain technology is ushering in a new epoch of monetary oversight, creating opportunities and challenges for regulators in a world disrupted by the advent of cryptocurrencies.