Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.
The Hub will foster collaboration between central banks and scale up the application of innovative technologies globally, says the HKMA’s Norman Chan.
Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.
Moody’s says the downgrade of Hong Kong’s outlook to negative is the result of a shift in its equilibrium with China, in addition to the ongoing protests in the city.
The London Stock Exchange Group sees no merit in further engagement because of fundamental flaws in HKEX’s offer.
HKEX chief Charles Li says the merger would create the most important investment platform and risk management infrastructure for the free flow of global capital between the East and West.
Voice recording was inadvertently not enabled on some private banking service lines, resulting in over 5,800 client order instructions not being tape-recorded.
The APAC RegTech Network was established by the regtech committees of the fintech associations of Hong Kong, Japan and Singapore in May.
Following the release of the FATF mutual evaluation report for Hong Kong, the SFC has highlighted key work areas for licensed firms and their associated entities.
Derivatives trading was suspended on Thursday due to software issues in HKEX’s vendor supplied trading system, which "have now been isolated".