Market Infrastructure

Market Infrastructure

IOSCO Issues Recommendations on Managing Extreme Volatility

By Editors | 02/08/2018

IOSCO believes volatility control mechanisms support the goal of ensuring markets are fair, efficient and transparent, thereby increasing market integrity and investor confidence.

Market Infrastructure

PBOC Announces Licence Application by Foreign Payment Firm

By Editors | 02/08/2018

World First Asia subsidiary Yuefan Business Consulting would become the first foreign-funded third-party payment institution in China if its licence is approved.

Enforcement

PBOC Penalises Shanghai-based Payment Firms

By Manesh Samtani | 02/08/2018

Kayou Payment Services and Free Me Pay were ordered to exit merchant acquisition business and to pay penalties totaling $5mn for violating payment and settlement rules.

Market Infrastructure

China Issues New Rules for Foreign Financial Networks, Information Services

By Emma Zhou | 01/08/2018

New regulations require overseas financial network and information services providers such as SWIFT to submit written reports to the PBOC.

Market Infrastructure

Thailand to Offer Fee-Free ‘Basic’ Banking

By Garima Chitkara | 01/08/2018

Thailand’s banks will offer basic accounts that exempt senior citizens and welfare recipients from entry fees, annual charges and minimum deposit requirements.

Market Infrastructure

LIBOR Transition Programmes Should Mobilise Immediately – Report

By Manesh Samtani | 01/08/2018

New report by Oliver Wyman says firms should start developing new non-LIBOR products and managing down LIBOR exposures; those that do not act quickly in anticipation of the transition will increase risks and costs.

Market Infrastructure

Hong Kong’s Revised OFC Regime Goes Into Effect

By Garima Chitkara | 30/07/2018

Hong Kong’s new open-ended fund regime that will allow OFCs to be set up as corporates takes effect on 30 July.

Market Infrastructure

SWIFT Pilots Enhanced Multi-Bank Cross Border Payment Standard

By Editors | 29/07/2018

Pilot participants of SWIFT enhanced gpi standard include 10 multinational corporates and 12 banks; new standard to enable multinational firms to initiate and track gpi payments to and from banks in a single format and integrate payment flows with internal systems.

Market Infrastructure

CPMI-IOSCO Report Shows PFMI Implementation Progress

By Manesh Samtani | 27/07/2018

21 of 28 jurisdictions self-attest to full implementation of PFMI; South Korea’ implementation gap relates to trade repositories, while Indonesia’s relates to clearing and settlement systems.