Securities & Trading

State-owned enterprises may only engage in derivatives trading for hedging purposes. Speculative derivatives trading is explicitly prohibited.

To register passport funds that can be offered in overseas markets, fund managers in Korea must have at least $500mn under management and meet a $1mn minimum capital requirement.

The move will help address demands concerns from overseas participants for the availability of better tools to hedge India exposures.

The draft rules require that separate bond issuances be at least six months apart, and that issuers limit their issuances to three times capital.

The SET will look to set up trading links with Cambodia, Laos, Myanmar and Vietnam this year, expecting much of its growth to be driven by offshore-related investment products and IPOs.

The new rules remove stringent tax and minimum public ownership requirements under a 2009 law that prevented the rise of REITs in the Philippine capital market.

Under the new format, listed companies need to disclose deviations in the use of debt issuance proceeds from the objects stated in their offer documents.

Citadel Securities has agreed to pay almost $100mn to settle charges that its algorithmic trading disrupted the market during the 2015 market correction.

Senior management, including the board, responsible officers and MICs will be held accountable for the overall risk management control of their firms.

Trading venues and their participants should synchronise the clocks they use for timestamping reportable events with coordinated universal time (UTC), IOSCO says.