Europe

Market Infrastructure

European Commission Drafts Decision on UK Clearinghouse Equivalence

By Manesh Samtani | 13/12/2018

The European Commission’s draft provides the legal means to grant UK clearinghouses equivalence rights in the EU for 12 months in a no-deal Brexit scenario.

Capital / Liquidity

FRTB Capital Requirements Set for Further Delays – Report

By Editors | 12/12/2018

European legislators have reportedly agreed to initially introduce only the reporting requirements under FRTB and delay the capital requirements.

Market Infrastructure

Industry Bodies Seek Clarity on Temporary Recognition of UK CCPs

By Manesh Samtani | 10/12/2018

ISDA, FIA, AFME and ICMA have written to the European Commission asking for greater clarity on proposed temporary equivalence and recognition of UK-based CCPs in a no-deal Brexit.

Market Infrastructure

Shanghai-London Stock Connect Launch Delayed – Report

By Editors | 07/12/2018

The launch has reportedly been delayed in connection with a Brexit parliamentary vote and a lack of clarity from Chinese regulators on technical issues.

Market Infrastructure

Huatai Securities Wins First Approval to Issue GDRs in London

By Editors | 03/12/2018

The approval marks the launch of the Shanghai-London Stock Connect, which allows China- and London-listed firms to issue depository receipts in each other’s markets.

Big Picture

Industry Bodies Call for Extended Benchmarks Regulation Transition Period

By Manesh Samtani | 22/11/2018

ISDA, FIA, GFMA and EMTA have jointly published a briefing advocating an extension of the Benchmark Regulation transition period for critical and non-critical benchmarks.

Fintech / Regtech

Singapore, UK Sign MoU on Fintech Collaboration

By Editors | 19/11/2018

The agreement builds on the existing fintech bridge between the UK and Singapore and intends to foster closer ties on fintech industry initiatives.

Market Infrastructure

ESMA Proposes Relief from EMIR Clearing Obligation in No-Deal Brexit

By Manesh Samtani | 09/11/2018

In a no-deal Brexit, ESMA’s proposal would give EU firms 12 months to replace UK counterparties in legacy derivative contracts without triggering the EMIR clearing obligation.

Market Infrastructure

GDPR and Hong Kong’s PDPO: Are They So Different?

By Peter Lancos | 06/11/2018

Hong Kong’s data privacy ordinance is conceptually similar to GDPR, but perhaps with ‘smaller teeth’, say Peter Lancos and Jennifer Boyse at Exate Technology.