China has agreed to delay the implementation of rules that require banks to purchase “safe and controllable” technology products, effectively excluding some foreign technology firms in the market.
The Financial Supervisory Commission (FSC) said it will expand the daily price limit for stocks to a fall or rise of 10% from the current 7% effective June 1.
Foreign banks stand to benefit from the launch this year of China’s international payment system (CIPS), which is seen to end the monopoly that China's renminbi clearing banks enjoy.
To boost the post-trade environment of the Singapore securities market, Singapore Exchange (SGX) plans to introduce position accounts for clearing members of the Central Depository (CDP).
Singapore and London are playing an increasingly important role in the adoption of the Chinese currency in global payments outside Hong Kong, said global transaction services organization SWIFT.
SWIFT has introduced a free-to-use utility that will help smaller institutions achieve compliance and reduce the cost and problems of procedures.
The Depository Trust & Clearing Corporation (DTCC) has urged institutions to stay ahead of reporting deadlines under the next phase of Australia’s derivatives market reporting rules, which will be implemented next month.
Credit rating agencies are adopting a new code of conduct that should enhance transparency and promote the integrity of the credit rating process.
People's Bank of China governor Zhou Xiaochuan has vowed to further liberalize capital account controls this year in an apparent bid to convince the International Monetary Fund to recognize the renminbi as an international reserve currency.
China has allowed trade of two new types of stock index futures on the China Financial Futures Exchange (CFFEX) next month.