Hong Kong

Market Infrastructure

Tradition Executes First HONIA-SOFR Cross Currency Basis Swap

By Manesh Samtani | 08/10/2020

The trade provides a foundation for the structure of cross-currency swaps that use SOFR and the local ARR, in this case HONIA.

Fintech / Regtech

RegTech Asia 2020: RegTech Lessons from Digital Banks

By Editors | 06/10/2020

What were some of the challenges of rolling out virtual banks in Hong Kong, and what were the biggest factors in technology and regulatory compliance considerations?

Securities / Derivatives

HKFE Obtains CFTC Certification for More MSCI Contracts

By Editors | 06/10/2020

Two broad-based Taiwan equity index contracts have received CFTC certification, allowing them to be offered and sold to persons in the US.

Securities / Derivatives

HKEX Set to Adopt Enhancements to Pre-opening Session

By Editors | 06/10/2020

The POS enhancements, finalised in December, involve the adoption of features from the closing auction session, with the aim of improving price discovery and trading liquidity.

Fintech / Regtech

Fusion Bank Kicks Off Virtual Banking Soft Launch

By Manesh Samtani | 05/10/2020

Under the HKMA’s sandbox, Fusion Bank will provide savings and time deposits, local fund transfers, payments, and become the first virtual bank to offer FX services.

HKMC Gets Expanded Credit Facility Amid First Half Loss

By Editors | 05/10/2020

HKMC recorded a new loss of HK$197mn for the first half of 2020. A revolving credit facility provided to HKMC through the Exchange Fund will increase from HK$30bn to HK$80bn.

Securities / Derivatives

SFC Issues Guidance on E-dissemination of Product Documents

By Editors | 03/10/2020

Investors currently receiving paper investment product documents need to be notified at least one month before e-dissemination arrangements take effect.

HKMA Directs Banks to Review, Enhance Sales Practices

By Manesh Samtani | 02/10/2020

A mystery shopping programme has identified product disclosure, risk profiling, and suitability assessment as some of the key areas where improvement is needed.

ESG / Sustainability

HKMA Pushes Forward Green & Sustainable Banking Initiatives

By Manesh Samtani | 01/10/2020

A pilot climate stress testing exercise involving Hong Kong banks will commence early next year. A local green taxonomy is under development.