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Coverage of regulatory developments, market trends, and operational standards across asset classes, financial products, and trading venues.

Structural Regulation
Hong Kong Virtual Banks Saw Narrower Losses in 2022 – Report
By Editors | 02/05/2023
ZA Bank and Mox Bank have the largest customer bases. None of the eight virtual banks are profitable yet, but their losses have mostly narrowed.

Trading & Investment
New BOJ Governor to Review Past Monetary Policy Moves
By Editors | 01/05/2023
The review will look into various monetary policy moves taken over the past 25 years, and not be tied to near-term policy shifts.

Trading & Investment
PBOC Issues Rules to Facilitate Introduction of Swap Connect
By Editors | 01/05/2023
Initially, centrally-cleared interest rate swap products will be eligible for trading under the northbound scheme. A southbound leg will be considered later.

Trading & Investment
Korea Exchange to Jointly Develop Indices With Cboe
By Editors | 01/05/2023
Cboe Global Indices and KRX will publish advanced strategic indices based on Korean derivatives, including KOSPI 200 options.

Trading & Investment
Korea Takes Measures to Address Fraudulent IPO Subscriptions
By Editors | 30/04/2023
IPO bookrunners must verify institutional investors can pay for stocks before allotment; risk weight for carbon emissions rights is reduced.

Cryptocurrency
SFC Chief Julia Leung Offers View Into 2023 Priorities
By Manesh Samtani | 29/04/2023
Julia Leung said the SFC will issue the new virtual assets rules in May, and that it developing a free carbon emissions calculator tool to help SMEs in climate-related reporting.

Trading & Investment
Firms Must Continue to Act to Ensure Orderly LIBOR Transition: FSB
By Editors | 28/04/2023
A “pile-up” towards end-June 2023 that could introduce operational risks and wider market disruption, the FSB said.

Market Data & Technology
Cboe Global Markets Unveils New 1-Day Volatility Index
By Manesh Samtani | 27/04/2023
The VIX1D measures the expected “current trading day” volatility of the S&P 500 Index, whereas the existing VIX Index reflects expected volatility 30 days out.

Market Abuse
CFTC Fines Mizuho Capital Markets for Swaps Conduct Failures
By Editors | 26/04/2023
Mizuho Capital Markets engaged in anticipatory hedges of deal-contingent FX forwards without appropriate disclosure to customers.

Resolution & Recovery
Singapore Retail Investors Underrepresented in Bond Restructuring
By Manesh Samtani | 26/04/2023
The Law Reform Committee of the Singapore Academy of Law proposes reforms to improve Singapore’s framework for bond restructuring.
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