The Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) have announced the approval, in principle, of the structure of Shenzhen-Hong Kong Stock Connect, which will provide mutual stock market access between Hong Kong and Shenzhen via a northbound trading link and a southbound trading link. There will be no aggregate quota under…
Read moreJust a month after the Brexit 'Leave' vote, Singapore-based global forex and commodities broker PhillipCapital Group unveiled a new look for its FCA regulated UK retail arm, PhillipCapital UK. And, the company continues to invest in and grow its business. Is PhillipCapital concerned about what Brexit might mean for its UK based business? What are…
Read moreThe Futures Industry Association (FIA) has welcomed publication of reports from the Committee on Payments and Market Infrastructures (CPMI), the International Organization of Securities Commissions (IOSCO), and the Financial Stability Board (FSB) as an important step in ensuring the safety and resilience of the derivatives clearing infrastructure globally (CPMI-IOSCO consultative document and FSB discussion paper). Walt Lukken, president…
Read moreHKFE Clearing Corporation Limited (a wholly-owned member of the Hong Kong Exchanges and Clearing Limited Group) has determined that with effect from the commencement of trading on Thursday, August 18, 2016, the margin levels of the following Futures Contracts shall be as follows: Client Margin Clearing House Margin Initial (HK$) Maintenance (HK$) (HK$) Ping An Insurance…
Read moreReports published today by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) are aimed at enhancing the resilience of central counterparties (CCPs), an important move towards completing the regulatory agenda for central clearing laid out after the financial crisis. CPMI chair Benoît Cœuré, said: Ensuring that central…
Read moreEuromoney Institutional Investor PLC (LON:ERM), the international online information and events group, and the owner of Metal Bulletin, the global metals and mining price reporting agency, has signed a binding contract to acquire 100% of the shares of FastMarkets Ltd. FastMarkets is a leading provider of real-time metals market information. It will become an integral…
Read moreThe banking company Clearstream has just announced its July report. The pan-European settlement platform TARGET2-Securities (T2S) is gaining momentum. The third migration wave will take place next month, and more and more market participants now focus on optimising their operating model in a T2S world. Clearstream Chairman Jeffrey Tessler when presenting Clearstream’s monthly figures, mentioned: Although T2S…
Read moreThe Competition and Markets Authority (CMA) has provisionally found that ICE’s acquisition of Trayport may give rise to competition concerns. The operator of exchanges and clearinghouses in the trading of European utilities, Intercontinental Exchange, Inc. (ICE), has its own proprietary software which allows trading of energy commodity and utility derivatives on its exchanges. Trayport’s software…
Read moreIt was announced today by UnionPay International that a number of daily-spending merchants in Canada will start to accept UnionPay mobile QuickPass, which marks the debut of this innovative service in North America. Previously, UnionPay mobile QuickPass has been accepted at over 220,000 POS terminals in Hong Kong, Macau, Taiwan, South Korea, Singapore and Australia. The merchants accepting…
Read moreAlternative lending fintech, FundX, has announced the appointment of a new Business Development Manager chosen specifically for his expertise in finance broking, in recognition of the growing importance of fintech lenders partnering with finance brokers. Phil Foweraker has spent over 15 years in finance covering all facets of funding, including at Westpac and NAB, however…
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