News Centre

Notice On Issuing “Shanghai Stock Exchange Guidance For Business Management On Split-capital Funds”

Date 29/11/2016

To strengthen the business management on split-capital funds and protect the legitimate rights and interests of investors, the Shanghai Stock Exchange (SSE) formulated the “SSE Guidance for Business Management on Split-capital Funds” (the “Guidance” for short). Approved by the China Securities Regulatory Commission (CSRC), the “Guidance” is hereby issued and the related matters are notified as follows:

1. The “Guidance” shall come into effect as of May 1, 2017. After the enforcement of the “Guidance”, the investors without permissions for split-capital funds will not be able to buy split units of split-capital funds and partition basic units of split-capital funds. Investors who have split units of split-capital funds but without the related permissions may continue to hold or sell the units of split-capital funds currently held by them at their discretion.

UK Communications Regulator Ofcom Update On Plans To Reform Openreach (Division Of BT Group)

Date 29/11/2016

Ofcom has today announced that it is proceeding with a formal notification to require the legal separation of Openreach from BT, after BT failed to offer voluntary proposals that address our competition concerns.

UK Financial Conduct Authority Launches Call For Input On High-Cost Credit And Overdrafts

Date 29/11/2016

The Financial Conduct Authority (FCA) has today announced that it is seeking evidence and feedback to further inform its work on high-cost credit, including a review of the payday loan price cap.

Shanghai Stock Exchange Guidance For Business Management On Split-Capital Funds Released

Date 29/11/2016

Upon approval by the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) has recently released the “SSE Guidance for Business Management on Split-capital Funds” (the “Guidance” for short). As a major system arrangement for ensuring sound operation of the fund market, the “Guidance”, with the ideas of “let the buyers beware” and “let the sellers perform their duties”, specifies the investor suitability arrangement of the split-capital funds’ secondary market, the requirements for investors to sign “Risk Disclosure Statement of Investment in Split-capital Funds”, and the risk alert arrangement for fund mangers and securities companies.

Shenzhen Stock Exchange Market Bulletin 28 November, 2016, Issue 40

Date 29/11/2016

China's Ministry of Finance will support treasury bond market makers by buying or selling bonds when there is a glut or short supply in the market. The move will ensure the continuous operation of the secondary market, promote coordinated development of the primary and secondary market and further raise liquidity. After consulting the central bank, the MOF decided to conduct the support once in a month at most with a fixed quota in the initial stage.

Intercontinental Exchange Announces Appointment Of Lee Yi Shyan As Chairman Of ICE Futures Singapore And ICE Clear Singapore

Date 29/11/2016

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced the appointment of Lee Yi Shyan as Chairman of ICE Futures Singapore (IFSG) and ICE Clear Singapore (ICSG) effective as of November 24 2016.

Saxo Bank Taps Fix8Pro For Global Market Connectivity

Date 28/11/2016

Fix8 Market Tech, the next-gen FIX solution provider, today announced their technology had been chosen by Saxo Bank A/S.

Department Of Justice And Federal Trade Commission Support Federal Energy Regulatory Commission’s Reexamination Of Market Power Analysis - Agencies Urge Consideration Of Broad Range Of Evidence When Assessing Potential For Exercise Of Market Power

Date 28/11/2016

The Department of Justice’s Antitrust Division and the Federal Trade Commission have submitted a comment in response to the U.S. Federal Energy Regulatory Commission’s (FERCs) Notice of Inquiry addressing how FERC assesses market power with respect to mergers and electricity sales at market-based rates.  

CFTC Divisions Extend Time-Limited No-Action Relief From The Clearing And Trade Execution Requirements For Certain Affiliated Counterparties

Date 28/11/2016

The U.S. Commodity Futures Trading Commission’s (CFTC) Divisions of Clearing and Risk (DCR) and Market Oversight (DMO) today each extended previously-issued no-action relief from the clearing and trade execution requirements for certain inter-affiliate transactions. As described further below, DCR and DMO are extending, until December 31, 2017, no-action relief that was previously provided in DCR No-Action Letter 15-63 and DMO No-Action Letter 15-62, respectively.

Umbrellas Don’t Cause Rain - Speech By Gertjan Vlieghe, External MPC Member, Bank Of England

Date 28/11/2016

In a speech at Sheffield University, external MPC member Gertjan Vlieghe discusses the how the UK economic outlook has evolved recently and what this implies for the stance of monetary policy. He also examines several arguments that have been used to support the idea that low interest rates are counterproductive, either for the economy as a whole, or for a particular sector of the economy.