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  • Exchanges Round The World Ring The Bell All Week For Financial Literacy In 2020 - The World Federation Of Exchanges Initiative Draws Record Support

    Date 05/10/2020

    Exchanges around the world have united to promote financial literacy and boost financial inclusion, ringing the bell in multiple countries on multiple days all week during World Investor Week (“WIW”) 2020.

  • SET Forges The First Partnership With KBTG To Develop An End-To-End Platform For Digital Assets

    Date 05/10/2020

    The Stock Exchange of Thailand (SEThas initiated the fully integrated Distributed Ledger Technology (DLT)-based digital asset investment service, spanning from a linkage with Initial Coin Offering (ICOportals, digital asset exchanges to digital wallets via a collaborative development with KASIKORNBANK (KBank)’s technology arm Kasikorn Business-Technology Group (KBTG). The imminent service will broaden fundraising and investment opportunities that harness creativityunleashing unlimited growth under related law and regulatory frameworkSET is poised to partner with other entities to create a complete digital asset ecosystem to enhance capabilities at an international levelThis digital asset initiative, in compliance with the Thai Securities and Exchange Commission (SEC)’s policy, is set to go live in 2021.   

  • Reply To Singapore Parliamentary Question On The Recent Cases Of Trade Financing Fraud

    Date 05/10/2020

    Question:

    To ask the Prime Minister in light of the recent cases of trade financing fraud involving billions of dollars leading to steps taken by banks to de-risk from this area, what steps will be taken to (i) ensure that there will be a sufficient number of banks providing such facilities on reasonable terms to traders (ii) reduce the fraud risks involved in such transactions on banks and other stakeholders and (iii) restore Singapore's reputation as a premier global trade financing hub.

    Answer by Mr Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS:

    1.      The fraud cases in the commodities trading sector have been attributed to weak disclosure practices and internal controls among a minority of trading companies. However, we do not take this lightly. To prevent such fraudulent activities and restore confidence, there needs to be a strengthening of standards and practices of transparency and governance in the commodities trading sector, more robust credit risk assessment, as well as a move away from paper-based processes as they are more susceptible to risk of fraud. These are the follow-up actions that banks, the Monetary Authority of Singapore (MAS) and other government agencies are undertaking. 

  • Genesis, The Low-Code Application Platform For Financial Markets, Receives Strategic Investment From Citi

    Date 05/10/2020

    Genesis Global Technology Limited (hereafter Genesis) the global financial markets software firm, has received a strategic investment from Citi via its Markets FinTech Investments and SPRINT groups to leverage Genesis’ “Low-Code Application Platform” (LCAP) to drive its key innovation priorities. Genesis’ LCAP, enables financial firms to accelerate the delivery of technology roadmaps with a clear focus on identifying and delivering digitization opportunities across business lines. These initiatives ultimately increase business workflow efficiencies and reduce costs not only within a firm, but also drive innovation for the benefit of the industry as a whole. The amount and terms of the investment are undisclosed. 

  • HKFE Obtains U.S. Commodity Futures Trading Commission Certification For MSCI Taiwan 25/50 (USD) Index Futures Contracts And MSCI Taiwan 25/50 Net Total Return (USD) Index Futures Contracts

    Date 05/10/2020

    Hong Kong Futures Exchange Limited (“HKFE”) is pleased to announce that the U.S. Commodity Futures Trading Commission (“CFTC”) has certified the following 2 broad-based equity index contracts to be offered and sold to persons in the United States (“U.S.”). U.S. investors can trade the contracts within the U.S.