MARKET INFRASTRUCTURE

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.