MARKET INFRASTRUCTURE

Securities / Derivatives

Banks Will Struggle if Prop Trading is Reintroduced

By Peter Guy | 22/01/2018

US banks lobbied hard for a rollback of the Volcker Rule and a return to proprietary trading to bolster profits. They will soon find that it’s now a different world.

Market Infrastructure

LEIs: Asia Following the Rest of the World

By Tony Freeman | 18/01/2018

Firms in the region either embrace, endure or avoid MiFID II’s LEI requirement, but must accept that it’s not just regulations from the US which now have a profound extraterritorial impact.

Market Infrastructure

Korea Announces Measures to Reform Kosdaq Market to Support Startups

By Garima Chitkara | 15/01/2018

Measures include overhauling Kosdaq listing requirements, strengthening competitiveness, and improving market soundness and investor trust.

Crypto / Digital Assets

MAS in Talks with Blockchain Firm Ripple on Cross Border Payments

By Manesh Samtani | 15/01/2018

Ripple chief says technology can speed up cross-border transactions from days to second, save banks trillions in collateral held against settlement risks.

Securities / Derivatives

ESMA Publishes List of Derivatives Subject to MiFID II Trading Rules

By Samuel Riding | 11/01/2018

Listed securities must be traded on regulated markets or organised trading facilities; no APAC venues yet to be granted equivalency.

Market Infrastructure

Korea’s Reduction in Foreign Shareholder Capital Gains Tax Threshold Arouses Concern

By Garima Chitkara | 10/01/2018

Government to cut threshold from 25% to 5%, ASIFMA says reduction will challenge securities firms, produce no tax revenue.

AML / KYC

Banks Must Ensure Foreigners’ RMB Investment Returns Can Be ‘Freely Remitted’ – PBOC

By Samuel Riding | 08/01/2018

PBOC confirms overseas investors can use RMB funds to participate in China’s emissions trading market; send RMB profits, dividends back home.

Market Infrastructure

Indonesia to Establish Derivatives CCP

By Editors | 03/01/2018

Centralising counterparty risk at a clearinghouse will make derivative products offered by Indonesian financial institutions more competitive.

Market Infrastructure

India Overhauls Credit Rating Agency, Fund Sponsor Regulations

By Editors | 02/01/2018

Securities regulator increases net worth requirement for agencies, requires separate legal entities for ‘non-core business’.