Over-the-Counter Reform May Harm Asian Markets

Even though Asia has some of the world’s quickest growing economies, their over-the-counter derivative markets may struggle with the upcoming U.S. regulatory deadline. The regulatory overhaul comes about in response to the 2008 market meltdown. One of the major targets of the financial reforms that are to...

TAIFEX Partners with Eurex to Expand Taiwanese Derivatives Market

TAIFEX, a Taiwan futures exchange, has entered into a deal with Germany’s Eurex Exchange, offering Europe-based traders the ability to clear Taiwanese derivatives products. The partnership between Deutsche Börse-owned Eurex, one of the largest derivatives market, and TAIFEX through a letter of intent,...

OTC Derivatives Framework Released by Chinese Regulators

In a message from The Securities Association of China, (SAC), Chinese regulators released the first management method for the newly launched national OTC equity transfer system for non-listed small and medium-sized enterprises. China Daily reports that the China Securities Regulatory Commission...

Regulators in India, U.S. Loosen Grip on Credit Default Swaps (CDS)

Regulators in the U.S. and India now plan to ease up on the credit default swaps (CDS) market. CDS in India The Reserve Bank of India announced this week that it will allow credit default swaps (CDS) for unlisted rated corporate bonds. It already allows CDS for listed bonds. “In addition to listed...

China Opens Up on Futures: How Will U.S. Regulators React?

The Shanghai Futures Exchange (SHFE) is finalizing a five year development plan (2013 – 2017) that will open up a variety of derivatives contracts and options to foreign access. The SHFE will simultaneously develop crude oil, index, and metals futures, alongside financial derivatives. “The exchange...

Asia Derivatives Update: Korean Banks Strong on Cap Levels; China & FX

The South Korean banking sector is already well ahead of international regulatory benchmarks for capital requirements, according to Lee Sangche, deputy chairman for international affairs at the Financial Services Commission, and Risk. Sangche clarifies the need to stay ahead of Basel III requirements: At the...

Dodd-Frank Style OTC Derivatives Clearing Kicks in for Asian Markets

OTC derivatives markets in Asia are getting ready for new, Dodd-Frank style clearing requirements. The new financial regulation is emerging as Asia develops the infrastructure required for OTC derivatives exchanges and clearing houses. KRX, an exchange in South Korea, will begin voluntarily clearing interest...

Asia Derivatives Update: FX in S. Korea; Progress in Indonesia; Libor in HK

Hong Kong After Libor Hong Kong plans to revamp Hibor, the Hong Kong equivalent of Libor, in the wake of the derivatives scandal that ended with a $464 million fine for Barclays. Some bank traders manipulated the self-reported Libor in order to profit from interest rate derivatives. The Hong Kong Association...

China’s CSRC Rapidly Expands Futures Business

The CSRC, China’s head securities regulator, is revving up its futures business in order to draw in foreign business. According to Zhang Yujun, an assistant to the Chairman of the CSRC, the plan is to begin with glass futures, which are slated to debut on the Zhengzhou Commodity Exchange in the coming...

Buy-Side Nervous Ahead of OTC Clearing Regulation

New swaps regulation that forces a large amount of OTC derivatives through central counterparties (CCPs) has some domestic and international buy-side advocates nervous, according to panelists at the 2012 Sibos conference. The question remains whether the buy-side is prepared for the looming regulation that...
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