Hong Kong

Fintech / Regtech

HKEX Fights Market Abuse with AI, Machine Learning Tech

By JP Reimann | 19/04/2018

NASDAQ technology aims to better safeguard market integrity, detect unusual trading and market abuse, and provide immediate review of group activity involving coordinated trades.

Market Infrastructure

HK, Japan to Connect Settlement Systems

By JP Reimann | 19/04/2018

BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.

Fintech / Regtech

HK Brokers Rush to Comply with SFC Cybersecurity Rules

By JP Reimann | 18/04/2018

Several online brokers had been hoping for a delay, tech advisory firm suggests some are ‘willing to trade a little security for convenience’.

AML / KYC

HK Banks Introducing Biometrics Expected to Comply With IT Upgrade Guidelines

By JP Reimann | 17/04/2018

Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.

Enforcement

SFC Reprimands, Fines Nomura’s Instinet $2.2mn

By Editors | 16/04/2018

The firm failed to put in place reasonable controls to ensure non-proprietary orders received execution priority, prevent erroneous and disorderly orders being sent to the market.

Fintech / Regtech

SFC Eying Rules on Instant Message Trade Orders

By Samuel Riding | 16/04/2018

Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.

Market Infrastructure

PBOC Confirms Financial Sector ‘Opening up’ Plans

By Samuel Riding | 14/04/2018

Governor Yi Gang confirms there will eventually be no limits on foreign ownership of financial institutions; quadruples Stock Connect quotas.

Fintech / Regtech

HKMA, HKEX Adopt New Messaging Standard

By Editors | 13/04/2018

Monetary authority and stock exchange to use messaging system across cross-border payments and remittances, support ‘open banking’.

Securities / Derivatives

SFC Identifies Best Practices for Alternative Liquidity Pools

By Editors | 10/04/2018

ALP operator guidelines should include third-party order routing and information about prioritisation for orders simultaneously posted to exchanges; all ALP users should be qualified investors.