MARKET INFRASTRUCTURE

    Market Infrastructure

    Shenzhen Exchange to Pilot Cross-Border Bonds to Serve GBA

    By Editors | 20/12/2022

    Issuers can be Chinese government entities or high-quality corporates. The SZSE is temporarily not charging any fees for cross-border bond listing services.

    Market Infrastructure

    SFC, CSRC Announce Move to Expand Scope of Stock Connect

    By Editors | 19/12/2022

    After the expansion, Stock Connect is expected to include stocks that account for more than 80 percent of equity trading in each market.

    Market Infrastructure

    EU Council Agrees to Implement Global Minimum Tax

    By Editors | 19/12/2022

    The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.

    Market Infrastructure

    FSB Offers LIBOR Transition Update, Warns of ‘Residual Risks’

    By Manesh Samtani | 19/12/2022

    Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.

    ESG / Sustainability

    Japan Finalises Code of Conduct for ESG Data Providers

    By Manesh Samtani | 19/12/2022

    The FSA is now calling on ESG evaluation and data providers to endorse the code of conduct, publish it on their websites, and notify the regulator.

    Securities / Derivatives

    HKEX Proposes to Further Expand Paperless Listing Regime

    By Editors | 19/12/2022

    Paperless initiatives announced since 2020 have improved efficiency and lowered costs for issuers, HKEX says, proposing changes to further simplify its administrative procedures.

    Securities / Derivatives

    ICE Opens Access Centres in Hong Kong, Shanghai, Tokyo

    By Editors | 18/12/2022

    ICE says the enhanced connectivity includes ultra-low-latency access to exchanges in Hong Kong, Shanghai and Tokyo.

    Market Infrastructure

    Japan to Raise Taxes on Wealthy Individuals, Corporations

    By Mark Johnston | 18/12/2022

    Taxes will be raised on those who earn over JPY 3 billion through stocks and real estate. A corporate surtax of 4 to 4.5 percent will also be adopted.

    Market Infrastructure

    US SEC Proposes Major Rule Changes to Improve Market Fairness

    By Editors | 18/12/2022

    The proposals include a new best execution regulatory framework, a new order competition rule, and requirements for brokers to provide better disclosures on execution quality.

    Capital / Liquidity

    PBOC Issues Draft Regulations for Financial Infrastructures

    By Editors | 17/12/2022

    The regulations cover registration and custody systems, clearing and settlement, trading facilities, transaction reporting databases, important payment systems, and credit reporting systems.

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