Europe

Securities / Derivatives

BIS Survey Reveals Rising Significance of Asian FX Hubs

By Manesh Samtani | 18/09/2019

Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.

Market Infrastructure

HKEX Merger a ‘Significant Backward Step’, Says LSEG

By Manesh Samtani | 14/09/2019

The London Stock Exchange Group sees no merit in further engagement because of fundamental flaws in HKEX’s offer.

Crypto / Digital Assets

HKEX Seeks ‘Unprecedented’ Market Connectivity Via LSEG Merger

By Manesh Samtani | 11/09/2019

HKEX chief Charles Li says the merger would create the most important investment platform and risk management infrastructure for the free flow of global capital between the East and West.

Market Infrastructure

WFE Warns EMIR 2.2 Could Unduly Fragment Global Markets

By Editors | 29/08/2019

The WFE has issued a letter to the European Commission and ESMA outlining principles it says would support the objectives of EMIR 2.2 while limiting its negative consequences.

Market Infrastructure

EU Shareholder Rights Directive – It’s Time for APAC Firms to Act

By Demi Derem | 26/08/2019

Though a European regulation, SRD II will directly impact Asian intermediaries and hundreds of billions of euros in assets held by APAC investors, says Demi Derem at Broadridge.

Enforcement

Five Major Banks Face UK Class Action in FX Rigging Case

By Editors | 31/07/2019

The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.

Market Infrastructure

No Time for Complacency Despite Two-Year BMR Reprieve

By Gregory Campbell | 21/07/2019

Third country benchmark administrators will need every bit of the additional time granted for BMR compliance to ensure their benchmarks get approved, say PwC’s Gregory Campbell and Daniela Bunea.

Securities / Derivatives

China, UK Seek to Establish Bond Market Connectivity – Report

By Editors | 12/07/2019

Following the success of the Hong Kong Bond Connect and Shanghai-London Stock Connect, China and the UK are exploring the feasibility of a bond connect programme.

Market Infrastructure

BOC Becomes LCH’s First Chinese Clearing Member

By Editors | 21/06/2019

Bank of China now has access to clearing of interest rate derivatives at LCH, and can act as a clearing broker to offer the service to its clients.