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Market Infrastructure
ISDA Consults on Fallback Benchmarks for Discontinued IBORs
By Garima Chitkara | 16/07/2018
ISDA proposes adjustment options that will be applicable to fallback rates in the event a derivative references an IBOR that has been permanently discontinued; FSB cautions on the use of overnight RFR to replace term IBORs.
Fintech / Regtech
Shanghai Bourse Studies Use of DLT for Securities Markets
By Garima Chitkara | 16/07/2018
In a research paper, the SSE envisions DLT efficiency in post-trade settlement and securities issuance and trading, calling on regulators to “adapt to evolving technology.”
Market Infrastructure
ESMA Seeks Extension of Intragroup Clearing Exemption
By Garima Chitkara | 16/07/2018
In intragroup transactions involving a third country entity, ESMA is seeking to extend its temporary clearing exemption for derivatives transactions.
Market Infrastructure
Brexit Shifts Regulatory Powers to Continental Europe
By Peter Guy | 16/07/2018
The UK government’s Brexit white paper reveals disappointing support for London’s global role in financial regulations. London could be disintermediated as a financial centre.
Market Infrastructure
India Proposes to Relax Payments Data Onshoring Rules
By Emma Zhou | 16/07/2018
New proposal would allow international payments firms to store data offshore while only maintaining a copy in India, following lobbying effort by MasterCard, Visa and American Express.
Market Infrastructure
SEBI Amends Stress Testing Methodology for Commodity Derivatives
By Garima Chitkara | 12/07/2018
Minimum capital requirement for settlement guarantee fund has been fixed at INR100mn, as opposed to being determined through daily stress tests.
Market Infrastructure
Shift from London Financial Centre Gains Pace
By Peter Guy | 12/07/2018
With nine months to go before Britain’s scheduled exit from the EU, the effects of Brexit are largely unknown and will take years to resolve. Yet, banks and asset managers have already begun planning for the relocation of staff and offices as the continent clarifies its financial regulations.
Market Infrastructure
AxiomSL Announces Completion of Open Taxonomy to Streamline MAS 610 Compliance
By Manesh Samtani | 09/07/2018
Industry initiative has condensed over 300,000 data points required by MAS 610 into 1,000 reuseable business concepts, simplifying and streamlining compliance with the reporting mandate.
Capital / Liquidity
SGX Proposes Amendments to Boost Capital Efficiency for Members
By Manesh Samtani | 08/07/2018
Proposed amendments include removal of risk-based capital and net liquid capital requirements currently imposed on remote and bank members, among other changes.
Market Infrastructure
Japan FSA Issues Revised Report on Supervisory Overhaul
By Manesh Samtani | 08/07/2018
Report was revised following consultation on proposed move to ‘dynamic supervision’ model; FSA says existing supervisory approaches deter focus from priority issues and may not prevent next crisis.
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