News Centre

Circular Of Shanghai International Energy Exchange On The Price Limit Update For SC201

Date 19/11/2020

Shanghai International Energy Exchange has released its Circular on the Price Limit Update for SC2012 as follows:

The price limit for SC2012 will be updated from ±8% to ±10% since November 26, 2020.

Banking Apps Prove More Popular Than Social Media During Pandemic

Date 19/11/2020

• New research from Mastercard reveals that people in the UK are more likely to have a mobile banking app (59%) than they are to have a social media app (50%).
• This digital trend is most pronounced in the older population with 44% of over 65s saying they have a mobile banking app compared to 27% with a social media app.
• One in five (21%) over 65s are using banking apps more than before the pandemic and 58% find them easier to use than expected.
• 100% of older users have said that they will continue to use their banking apps after the pandemic as well, highlighting a positive experience. 

Boaz Zilberman Joins AccessFintech As Executive Vice President For Business Development - Appointment Underpins AccessFintech’s Momentum, Expanding Its Network Of Participants Sharing Data, Standardising Workflows And Collaborating On Exception Resolution

Date 19/11/2020

AccessFintech, a leading fintech company evolving the financial operating model through data and workflow collaboration, announces the appointment of Boaz Zilberman as Executive Vice President for Business Development.

CryptoUK Welcomes Electroneum As Seventh Executive Member Alongside Coinbase, eToro, Ripple, Binance, CryptoCompare, Simmons & Simmons

Date 19/11/2020

Electroneum, the award-winning crypto start-up, has announced its Executive Membership of CryptoUK, the UK’s self-regulatory trade association representing the digital asset sector.

Genesis And Symphony Partner To Accelerate Digitisation And Connectivity For The Global Financial Markets Community

Date 19/11/2020

Genesis, the Low-Code Application Platform (LCAP) and Symphony Communication Services, LLC (hereafter Symphony) are pleased to announce their strategic partnership to provide the financial markets community with interoperable technology and applications, built and deployed both securely and at speed. The partnership will help to transform financial markets collaboration by pairing Genesis Low-Code Application Platform to drive digitisation with Symphony’s collaboration platform which securely and compliantly connects people, organisations and financial markets.

Monetary Authority Of Singapore Unveils 2021 Year Of The Ox Chinese Almanac Coins

Date 19/11/2020

The Monetary Authority of Singapore (MAS) today unveiled the 2021 Year of the Ox Almanac coins, the fifth issue in the Singapore Fourth Chinese Almanac Coin Series  . The 10 versions of the collectible coins will be issued on 1 January 2021.

The Saudi Arabia Capital Market Authority (CMA) Grants A Financial Technology Experimental Permit (FinTech ExPermit) To DFN RoAd Company To Experiment Robo-Advisory Service

Date 19/11/2020

Based upon the Capital Market Law issued by Royal Decree No. (M/30) dated 2/6/1424H, and reference to the Financial Technology Experimental Permit Instructions issued by CMA in 10/01/2018, which aims to provide a regulatory framework that is conducive for the innovation of Financial Technology (FinTech) in the capital market within the Kingdom. In relation to this, the CMA Board of Commissioners issued its resolution to grant DFN RoAd Company a Financial Technology Experimental Permit (ExPermit) to experiment Robo-Advisory service.

Statement Of CFTC Commissioner Dan M. Berkovitz On Registration Exemptions For Derivatives Clearing Organizations, Final Rule

Date 18/11/2020

I am voting for the final rule establishing procedures for granting registration exemptions to foreign derivatives clearing organizations (Exempt DCOs) to clear swaps for certain U.S. persons (Final Rule).  The Final Rule exercises the exemptive authority provided by Congress in the Commodity Exchange Act (CEA) in a limited, pragmatic manner that will provide U.S. financial services firms that operate globally with access to foreign clearinghouses and cleared swaps in order to more effectively manage the risks arising from their global operations.

Concurring Statement Of CFTC Commissioner Rostin Behnam Regarding Exemption From Derivatives Clearing Organization Registration - Final Rule

Date 18/11/2020

I respectfully concur with the Commodity Futures Trading Commission’s final rule regarding policies and procedures that it will follow with respect to granting exemptions from derivatives clearing organization (DCO) registration pursuant to authority under section 5b(h) of the Commodity Exchange Act (CEA) (the Final Rule).  The Final Rule, with limited exceptions, codifies the policies and procedures followed by the Commission in issuing the four exempt DCO orders which currently limit clearing organizations organized outside of the United States to clearing only proprietary swap positions of U.S. persons and futures commission merchants, and not customer positions (exempt DCOs).  Critical to my vote today, the Final Rule prohibits the clearing of U.S. customer positions at an exempt DCO.

Supporting Statement Of CFTC Commissioner Brian Quintenz Regarding Exemption From Derivatives Clearing Organization Registration Final Rule

Date 18/11/2020

I support today’s final rule to codify the CFTC’s existing practice of exempting non-U.S. derivatives clearing organizations (DCOs) from registration, pursuant to a provision of the Commodity Exchange Act that allows for U.S. swap market participants to access comparably regulated foreign DCOs. That provision authorizes the Commission to defer to its counterparts abroad, which I believe properly conserves the Commission’s resources and enables firms to avoid duplicative regulation, while providing U.S. market participants with greater choice.  I am proud that today’s final rule provides yet another example of the CFTC deferring to foreign regulators that provide comparable regulation and supervision.  During my tenure as a Commissioner, the CFTC has properly provided such deference in many areas, including swap dealer (SD) registration, uncleared swap margin requirements, swap execution facilities (SEFs), registered DCOs,  and foreign futures.  Like these other actions, today’s final rule holds exempt DCO to a high regulatory standard.  Under the final rule, a DCO is only eligible for an exemption if its home country regulator ensures the clearinghouse complies with rules consistent with the internationally accepted “Principles for Financial Market Infrastructures” (PFMIs) issued by CPMI-IOSCO.  Moreover, the exempt DCO must regularly provide the CFTC with margin information concerning U.S. clearing members, among other key information.