Market Infrastructure

The guide seeks to help firms subject to margin rules analyse multiple foreign rule sets, identify situations in which different rules apply, and improve understanding on substituted compliance.

Stock exchanges, depositories and clearing corporations are required to include compliance with SEBI rules in the scope of their system audits, and to report any non-compliance to the regulator.

The bill proposes that the BSP grant five virtual bank licences every year for at least five years, and to allow both financial and non-financial firms to apply.

The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.

If the core settlement guarantee fund is used up during a calendar month, non-defaulting members of clearing corporations shall immediately replenish the fund.

Local governments have been told to revise their procedures and remove restrictions to allow foreign-invested banks to participate in bond underwriting syndicates.

MAS will announce the successful applicants in June 2020. The new digital bank licencees will be expected to commence business by mid-2021.

Charles Li says HKEX will leverage the disruptive power of technology to enhance connectivity between China and the rest of the world in stock, bond and commodity markets.

Financial Benchmarks India Pvt Ltd has three months to make an application to the RBI for authorisation to continue administering the benchmarks.

The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.