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Comment - Will Euribor Be Discontinued? By Joshua Roberts, Associate Director At JCRA

Date 25/06/2019

The global effort to replace interbank offer rates (IBORs) with risk-free rates (RFRs) represents the most significant challenge faced by financial markets in decades. To date, the brightest spotlight has been on Libor, the suite of IBORs published in London, which is set to be discontinued at the end of 2021. Libor is published for five G10 currencies, four of which (GBP, USD, JPY and CHF) use it as the primary benchmark for their rates markets. As a result, Libor underpins contracts with a notional value of over $350 trillion – more than four times the world’s total GDP.
Hong Kong Securities And Futures Commission Issues Restriction Notices To Nine Brokers To Freeze Client Accounts Linked To Suspected Market Manipulation Of China Ding Yi Feng Shares

Date 25/06/2019

The Securities and Futures Commission (SFC) has issued restriction notices to nine brokers, prohibiting them from dealing with or processing certain assets held in their client accounts which are related to suspected market manipulation in the shares of China Ding Yi Feng Holdings Limited (China Ding Yi Feng) between 2018 and early 2019 (Notes 1 & 2).
AxiomSL Partners With Refinitiv For Global Shareholding Disclosures Data Enrichment

Date 25/06/2019

AxiomSL, the leading provider of regulatory reporting and risk management solutions, today announces that it has entered into a partnership with Refinitiv, one of the world’s largest providers of financial markets data and infrastructure. Combining AxiomSL’s robust Global Shareholding Disclosures (GSD) solution with Refinitiv’s reference data enables Financial Institutions (FIs) to automatically enrich their clients’ positions while managing regulatory obligations across multiple jurisdictions.
Mandatory Notification Of trade - Oslo Børs VPS Holding ASA - Ronny Nilsen

Date 25/06/2019

Euronext’s offer to acquire all outstanding shares in Oslo Børs VPS Holding ASA was made unconditional 31 May 2019. Ronny Nilsen (deputy employee representative Verdipapirsentralen ASA) has accepted the offer for 36 shares (new holding: 0 shares)
Itiviti And MIK Partner To Deliver Direct OMS Connectivity

Date 25/06/2019

Itiviti, a leading technology and service provider to financial institutions worldwide, has partnered with MIK Fund Solutions, a software development firm focusing exclusively on the asset management industry. MIK OMS integrates in/outbound FIX messaging with all major EMSs via direct FIX connections and hosted connections provided and managed by Itiviti’s NYFIX order routing network. This gives MIK clients access to the NYFIX service delivery platform.

ASIC: Computer Hacker Steven Oakes Jailed For Unauthorised Access And Insider Trading

Date 25/06/2019

IT consultant Steven Oakes has today been sentenced in the County Court at Melbourne to a total effective sentence of three years imprisonment, and ordered that he be released after serving 18 months of the term of imprisonment, on his own recognisance to be of good behaviour for 18 months, after pleading guilty to a total of 11 charges for insider trading, unauthorised access to data with the intention to commit a serious offence (insider trading) and the alteration of electronic devices required by ASIC.
Shanghai Stock Exchange Launches On-site Supervision of Sponsoring Business For SSE Star Market

Date 25/06/2019

In order to urge the sponsoring institutions to perform their duties diligently and conscientiously, take the responsibility for verifying and checking the sponsoring projects and improve the quality of information disclosure of the public offerings on the SSE Star Market, recently, the Shanghai Stock Exchange (SSE) launched the on-site supervision of the sponsoring business for the market. The first round of supervision involves two sponsor institutions, and the SSE will send inspectors to the locations of the sponsor institutions.
Dalian Commodity Exchange And China Minsheng Bank Corporation Industry-finance Training Base Unveiled In Shenzhen

Date 25/06/2019

The opening ceremony of the industry-finance training base of Dalian Commodity Exchange (DCE) and China Minsheng Bank Corporation (CMBC) was held in Shenzhen on June 18. The 1st training session of the base was opened on the same day. Attending the opening ceremony and the 1st training session were more than 60 business backbones from CMBC Shenzhen Branch, CMBC Guangzhou Branch, the Financial Market Department, the Corporate Business Department, the Credit Review Department, the Trade Banking Department and the operation agencies.
New York State Department of Financial Services Superintendent Linda Lacewell Announces $33 Million Settlement Between DFS And MUFG Bank - Agreement Settles Lawsuit Filed By MUFG In Connection With The Bank’s 2017 OCC Charter Conversion

Date 24/06/2019

Financial Services Superintendent Linda A. Lacewell today announced that the Department of Financial Services (DFS) has entered into an agreement with MUFG Bank, under which MUFG will pay DFS $33 million to settle all claims related to the bank’s conduct occurring while a New York State-regulated institution. The agreement announced today settles a lawsuit commenced by the bank in connection with MUFG’s application with the United States Office of the Comptroller of the Currency in 2017 to convert its state-licensed branches in New York, Illinois, and California and its state-licensed agency offices in Texas to federally licensed branches and agency offices.
DTCC Sponsored Service Achieves Key Milestone In Treasury Market Clearing With Citadel Activity - Transactions Completed By Citadel In Both Cash And Repo Highlight The Potential Of The Sponsored Service To Significantly Increase Centrally Cleared US Treasury Activity, Reducing The Risks Of Bilateral Clearing Referenced In The TMPG White Paper On Clearing In The Treasury Market

Date 24/06/2019

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced its subsidiary Fixed Income Clearing Corporation (FICC) has achieved yet another milestone in the transformation of the U.S. Treasury market toward central clearing as Citadel successfully executed and cleared both cash and repo trades via FICC’s recently expanded Sponsored Service model.