MARKET INFRASTRUCTURE

    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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