Payments & Settlements

PEPs & Sanctions

More of Central Asia Stops Accepting Russian Mir Cards

By Editors | 04/04/2024

Kyrgyzstan’s national payments operator, and banks in Kazakhstan and Tajikistan, have stopped accepting Mir cards due to sanctions concerns.

Tokenisation

New BIS Project Seeks Overhaul of Global Payment System

By Manesh Samtani | 04/04/2024

Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.

CBDCs

HKMA to Explore Common Industry Standards for Digital Money

By Manesh Samtani | 02/04/2024

Phase 2 of HKMA’s e-HKD testing initiative will explore the development of standards on interoperability and smart contract design.

Structural Regulation

India: Panel Proposes Measures to Make GIFT City a Global Finance Hub

By Ajoy K Das | 01/04/2024

Government-appointed experts’ committee says clearer criteria should be provided to those wishing to set up a financial services company in GIFT City.

Clearing & Post-Trade

UK Starts Preparing for Move to T+1 Settlement Cycle

By Manesh Samtani | 31/03/2024

Some operational changes will be implemented by end-2025, to enable the market to prepare for a full transition to T+1 before end-2027.

Clearing & Post-Trade

HKMA, SFC Call on Firms to Ensure Readiness for US Move to T+1

By Editors | 28/03/2024

Firms should consider deploying additional staff and or making adjustments to work shifts or working hours to cope.

Structural Regulation

Visa, Mastercard to Settle 2005 Antitrust Case for $30b

By Sanday Chongo Kabange | 28/03/2024

The settlement, which is subject to court approval, will also give merchants more negotiating power and enable more competitive pricing.

PEPs & Sanctions

Russia Launches Scheme to Unblock Foreign Securities

By Editors | 27/03/2024

Russian broker is accepting offers from Russians looking to free up overseas-held shares affected by sanctions.

Clearing & Post-Trade

ISDA to Commence Work to Update FX Standards

By Manesh Samtani | 26/03/2024

CEO Scott O’Malia said ISDA is also prioritising the development of a new industry notices hub and continuing to engage with US policymakers on the proposed Basel III reforms.