News Articles

The New York Stock Exchange And Korea Exchange Agree To Memorandum Of Understanding For Business Collaboration - Collaboration Covers Settlement Cycle Modernization, Extended Trading Hours, ETFs, And Market Data And Index Products

Thu, 03 Sep 2026 12:55:24 GMT

The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), one of the world's leading providers of financial market technology and data powering global capital markets, and Korea Exchange, the sole securities exchange operator in the Republic of Korea, today announced the signing of a memorandum of understanding to collaborate on a number of key business activities aimed at expanding access to global capital markets.

The collaboration leverages the expertise of both exchanges to drive innovation across U.S. and Korean markets. The exchanges may establish a NYSE-KRX Joint Collaboration Council to support the effective implementation of the memorandum's goals.

"Korea's capital markets play an essential role in connecting global investors to some of the world's most innovative companies, and today's agreement reflects our mutual commitment to making markets stronger and more accessible,” said Lynn Martin, President, NYSE Group. “We are excited to formalize this collaboration and work on streamlining access to the world’s most liquid capital market for global investors."

"This memorandum reflects the shared commitment of both exchanges to strengthening cooperation between two leading capital markets," said Eun-Bo Jeong, Chairman and Chief Executive Officer of Korea Exchange. "We expect it to deepen the partnership between our two exchanges, and we believe this collaboration will support the continued development and competitiveness of the capital markets in both countries."

Nasdaq Dubai Welcomes ICBC’s Dual-Currency USD 713 Million Green Bonds

Thu, 03 Sep 2026 12:06:30 GMT

ICBC reinforces its position as the largest green bond issuer on Nasdaq Dubai, bringing its cumulative outstanding listings on the exchange to USD 4.24 billion.
The USD tranche was oversubscribed 3.8 times with an order book of USD 1.2 billion, while the CNH tranche was oversubscribed 3.5 times with an order book of CNH 10.0 billion
Nasdaq Dubai's total outstanding debt listings now exceed USD 143.9 billion with ESG issuances reaching USD 27.5 billion.

Nasdaq Dubai welcomed the listing of USD 713 million in dual-currency green bonds by Industrial and Commercial Bank of China Limited (ICBC). Issued under ICBC’s USD 20 billion Global Medium Term Note Programme via its ICBC Dubai (DIFC) Branch, the dual-tranche issuance carries the theme "China-Arab States Renewable Energy Cooperation”.

The listings include:

USD 300 million three-year floating-rate notes, priced at SOFR +35 basis points
CNH 2.8 billion (approximately USD 413 million) fixed rate bond

Proceeds from the green bonds will be allocated towards carbon neutrality, renewable energy and sustainable infrastructure projects. The listing reinforces Dubai's status as a premier international hub for fixed income issuances and cross-border capital flows.

The issuance attracted international and regional investor demand across both tranches. The USD tranche was oversubscribed 3.8 times with an order book of USD 1.2 billion, while the CNH tranche was oversubscribed 3.5 times with an order book of CNH 10.0 billion.

With this listing, ICBC now has USD 4.24 billion in outstanding bonds across four issuances on Nasdaq Dubai.

To mark the listing, His Excellency Zeng Jixin, Ambassador of the People's Republic of China to the United Arab Emirates, rang the market-opening bell at Nasdaq Dubai, alongside Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), and senior representatives from both organisations.

Liu Hua, General Manager of ICBC Dubai (DIFC) Branch, said: "The successful listing of ICBC's dual-currency “China-Arab States Renewable Energy Cooperation” themed green bonds issued by its branch in Dubai (DIFC) on Nasdaq Dubai reflects ICBC's confidence and commitment to the UAE capital market. As a pioneer in green financing, ICBC has significantly contributed to environmental sustainability by extending green financial solutions, particularly within the framework of the Belt and Road Initiative. With a cumulative total of USD 4.24 billion in outstanding bonds listed on Nasdaq Dubai, ICBC reaffirms its strategic foresight and dedication to fostering eco-friendly and sustainable development globally."

Hamed Ali, CEO of Nasdaq Dubai and DFM, said: “ICBC's latest dual-currency green bond listing reflects the continued connection between China and global capital markets, reinforcing Dubai's role as a primary international destination for cross-border capital raising and sustainable finance. The strong demand across both the US Dollar and Renminbi tranches highlights the growing investor appetite for high-quality ESG instruments issued through our platform. We look forward to continuing our close collaboration with ICBC as they expand their sustainable footprint globally.”

Total outstanding debt on Nasdaq Dubai has surpassed USD 143.9 billion including USD 98.4 billion in Sukuk and USD 45.4 billion in bonds, with ESG related listings accounting for USD 27.5 billion.

UK Financial Conduct Authority Decides To Ban And Fine Daniel Thomas Over Unauthorised Pension Transfer Advice

Thu, 03 Sep 2026 12:52:41 GMT

The FCA has decided to ban Daniel Thomas from working in financial services and fine him £742,700 after finding he recklessly gave defined benefit pension transfer advice he was neither qualified nor allowed to give.

Mr Thomas has referred his Decision Notice to the Upper Tribunal where he will present his case. Any findings in the Decision Notice are therefore provisional and reflect the FCA’s belief as to what occurred and how it considers his behaviour should be characterised. The FCA will take no action against him until the Tribunal reaches its decision, which will be published on its website.

Mr Thomas was a director and financial adviser at DPT Financial Solutions Limited. Over 5 years Mr Thomas advised 53 clients about 63 transfers out of defined benefit pension schemes and is believed to have earned more than £173,000 in fees.

Mr Thomas repeatedly misled clients and pension providers about his professional qualifications, destroyed client records and failed to co-operate with the FCA's investigation.

Mr Thomas’ firm was an appointed representative. This meant another firm (known as a principal) had responsibility for overseeing its actions. Mr Thomas provided misleading information to his principal firm about his involvement in the pension transfer cases.

It is not normally in consumers’ best interests to transfer out of defined benefit pensions because they provide valuable, guaranteed benefits which increase annually. That is why only those advisers with specialist qualifications and the correct permissions can advise people on whether to transfer out.

Therese Chambers, executive director of enforcement and market oversight at the FCA, said:

'When you advise someone on their pension, you hold their future in your hands. Mr Thomas recklessly betrayed that responsibility. We will not stop acting against those ignoring our rules and unfairly putting people and their hard-earned money at risk.'

Background

Decision Notice: Daniel Philip Thomas (PDF)
DPT Financial Solutions Limited was an appointed representative of Quilter Financial Services Ltd (the principal firm). An appointed representative is a firm or person who carries on a regulated activity on behalf, and under the responsibility of, a firm authorised by the FCA. The FCA has made no findings against Quilter in connection with this matter.
Defined benefit pension schemes provide valuable, guaranteed retirement income that cannot be replicated by other investments, in most cases, the FCA expects consumers to remain in these schemes. Advice on transfers must be provided, or checked, by a qualified Pension Transfer Specialist. Mr Thomas did not hold the qualifications required to perform this role.
In 2021, the FCA confirmed measures to improve the defined benefit pension transfer market. Read the finalised guidance.
See the FCA’s defined benefit pension transfer advice checker to check if you received poor transfer advice.
The FCA has the power to impose financial penalties under section 66 of the Financial Services and Markets Act 2000 and to prohibit individuals under section 56 of that Act.
Information for customers wishing to make a complaint to QuilterLink is external .
Information for customers wishing to make a complaint to the FOSLink is external .
Some of Mr Thomas’ clients were members of the British Steel Pension Scheme and were in a particularly vulnerable position when he was advising them. The FCA has previously taken enforcement action against a wide range of firms and individuals for misconduct involving advice given to consumers to transfer out of the British Steel Pension Scheme.
In addition to fining him £173,000 (plus interest), the penalty imposed includes an amount to reflect the seriousness of the misconduct, which is based on a percentage of Mr Thomas’ relevant income from DPT Financial Solutions Limited during the period connected to the breach. It also includes an uplift for failing to cooperate with the FCA’s investigation. The full calculation is set out at paragraph 6 of the Decision Notice.
Find out more information about the FCA.
Find out more information about the Upper Tribunal (Tax and Chancery Chambers)Link is external.

Carmignac Opens Dubai Office In DIFC And Appoints Christophe Younes As Senior Executive Officer

Thu, 03 Sep 2026 12:01:08 GMT

Carmignac has opened a new regional office in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia region. This follows authorisation from the Dubai Financial Services Authority (DFSA) to conduct regulated activities from the Centre. The firm has also appointed Christophe Younes as senior executive officer of Carmignac Middle East Ltd and head of Middle East.

The move marks an important milestone in Carmignac’s international expansion strategy and reinforces its long-term commitment to the region. DIFC offers a robust regulatory framework, internationally recognised legal standards and an efficient business environment, making it an attractive location for asset managers with a long-term strategic outlook, like Carmignac. Dubai’s increasing influence as a financial city, supported by the Dubai Economic Agenda (D33), further reinforces its appeal as a global hub.

Based in Dubai, Christophe Younes will support the development of Carmignac's distribution across the UAE and the wider region, with a focus on strengthening relationships with institutional and wealth investors. Christophe will be supported by a seasoned board of directors including Habib Achkar.

Christophe rejoined Carmignac earlier this year from PIMCO, where he was responsible for raising capital across the firm's public and private investment strategies in France and Monaco, working primarily with private banks and family offices. He previously spent 10 years at Carmignac, joining as a fixed income product specialist before moving into a sales role covering banking and institutional clients across France and Monaco. Fluent in English, French and Arabic, he graduated from Paris-Dauphine University with a Master’s degree in Finance and is a CFA charterholder.

Habib Achkar spent more than 30 years at Morgan Stanley, where he held a number of senior positions, including head of the trading room in Paris, CEO of Morgan Stanley Saudi Arabia, CEO of Morgan Stanley MENA and, ultimately, vice chairman. He is the founder of Marcory Advisors Limited and joined Carmignac’s board of directors in 2024.

Carmignac's investment capabilities span equities, fixed income, multi-asset, alternatives, and private assets. Its high-conviction approach makes it well placed to support the long-term interests of clients in the UAE and across the GCC seeking diversified portfolios through changing market conditions.

The decision to establish a new office in the UAE reflects Carmignac's confidence in the country’s long-term growth prospects and its ambition to build lasting partnerships with local and regional investors across one of the world's fastest-growing wealth markets.

Rose Ouahba, group deputy CEO, board member of Carmignac Gestion Luxembourg and Carmignac Middle East, comments: “The launch of a dedicated Dubai office marks a major milestone in Carmignac’s international ambitions across growth markets. With deep experience serving private banks and institutional clients across Europe, we look forward to bringing our expertise to the UAE while learning from local and regional institutions.

I am pleased to welcome Christophe back to the team. His experience advising private wealth clients internationally makes him ideally suited to lead our expansion into this strategically important and rapidly evolving market. His humility, technical expertise and passion for this project have been a genuine source of inspiration as we embark on this new chapter.”

Christophe Younes adds: “I am honoured to lead the opening of Carmignac’s Dubai office – our first on-the-ground presence in the Middle East and the foundation for long-term growth in the region. As one of the world’s most dynamic and advanced financial centres, underpinned by an ambitious economic agenda, DIFC offers agile, conviction-driven active asset managers like Carmignac unrivalled access to some of the world’s most sophisticated and discerning investors. We look forward to contributing meaningfully to the local investment ecosystem through our knowledge, experience and commitment to building lasting relationships.”

Salmaan Jaffery, Chief Business Development Officer of DIFC Authority, said: “Dubai is home to the Middle East’s highest concentration of wealth, creating significant opportunities for DIFC-based asset managers such as Carmignac to build new relationships, develop innovative investment solutions and participate in the continued growth of one of the world’s most dynamic wealth markets. As the region’s leading global financial centre and largest wealth and asset management ecosystem, DIFC provides Carmignac with a platform to access sophisticated investors and build lasting partnerships across Dubai, UAE and wider region.”

Non-Jordanian Ownership In Companies Listed On The Amman Stock Exchange Reached 46.2%, Of Which 32.7% For Institutional Investors

Thu, 03 Sep 2026 11:52:34 GMT

Amman Stock Exchange (ASE) revealed that the value of shares bought by non-Jordanian investors at the ASE in August 2026 was JD30.4 million, representing 11.6% of the overall trading value, while the value of shares sold by them amounted to JD47.9 million.

The value of shares bought by non-Jordanian investors since the beginning of the year until the end of August 2026 was JD262.0 million, representing 11.7 % of the overall trading value, while the value of shares sold by them amounted to JD329.7 million.

Arab investors’ purchases during August 2026 were JD29.1 million, or 95.7% of the overall purchases by non-Jordanians, while their sales amounted to JD44.2 million, or 92.4% of non-Jordanians total sales. The value of non-Arab purchases amounted to JD1.3 million, constituting 4.3% of the overall purchases by non-Jordanians, while their sales value amounted to JD3.7 million, representing 7.6% of the total sales by non-Jordanians.

Hence, non-Jordanian investors' ownership in companies listed on ASE as of end of August 2026 represented 46.2% of the total market value, of which 32.7% for institutional investors including companies, institutions and funds. Arab investors own 29.7% and non-Arab investors own 16.5%. At the sectoral level, the non-Jordanian ownership in the financial sector was 47.9%, in the services sector was 22.2% and 51.4% in the industrial sector.

SGX Group: Straits Times Index (STI) Quarterly Review - September 2026

Thu, 03 Sep 2026 12:47:01 GMT

No changes to the constituents of the STI

FTSE Russell announces that there will be no changes to the constituents of the Straits Times Index (STI), following the September 2026 quarterly review.

A full list of STI constituents can be found on the website.

There is no change to the STI reserve list.

The STI Reserve List (in alphabetical order)

First Resources

Keppel REIT

Olam Group

Sheng Siong Group

Suntec REIT

All changes from this review take effect at the start of business on 21 September 2026 and the next review will take place in December 2026.

The indexes are reviewed quarterly in accordance with the index ground rules and to facilitate the inclusion of eligible IPO stocks. The FTSE ST methodology ensures the indexes accurately represent the investable universe for benchmarking purposes and can be easily replicated as the basis of index-linked products.

FTSE Russell has partnered with SPH Media Trust, publisher of The Straits Times newspaper, and SGX Group (Singapore Exchange) to jointly calculate Singapore’s main stock market benchmark. The STI is widely followed by investors as the benchmark for the Singapore market and is used as the basis for a range of financial products including Exchange Traded Funds (ETFs), warrants, futures and other derivatives. FTSE Russell is the index administrator.

Further information on the FTSE ST Index Series, including all additions and deletions as well as ground rules, is available at FTSE Straits Times (ST) Index Series | LSEG

Hong Kong Securities And Futures Commission Enhances Guidance For Authorised Funds With Exposure To Private Market Assets

Thu, 03 Sep 2026 12:30:17 GMT

The Securities and Futures Commission (SFC) today issued a circular to provide guidance on SFC-authorised funds with exposure to private credit and private equity (collectively, private market assets) to enhance their transparency on underlying investments and associated risks (Notes 1 and 2).

Recent market developments have prompted regulators to pay closer attention to private market assets. The SFC has observed that some funds may gain indirect exposure to private market assets through various types of investments for asset allocation and yield enhancement purposes. The SFC also noted that retail investors in Hong Kong may have limited familiarity with private market assets and their associated risks, as some of these indirect exposures involve layered structures and complex financial instruments, which may lack transparency.

Against this backdrop, the SFC sets out in this circular its enhanced disclosure requirements, obligating fund managers to provide a clear, sufficiently completed and balanced picture of the characteristics, nature and risks associated with a fund’s exposures to private market assets.

In addition, the SFC may, where appropriate, subject such funds to enhanced scrutiny and classify them as a complex product with heightened distribution requirements for offering in Hong Kong (Note 3). For existing funds that may have exposure to private market assets, the SFC also expects fund managers to review their funds and update the funds’ offering documents as soon as practicable.

“As markets evolve, it is crucial that fund managers provide investors with clear, meaningful information about SFC-authorised funds to make informed investment decisions,” said Ms Elisa Ng, the SFC’s Executive Director of Investment Products. “The enhanced guidance strengthens Hong Kong’s regulatory framework for retail funds with private market exposure by increasing transparency and introducing appropriate investor safeguards.”

The SFC would like to thank industry participants for responding to its earlier consultations and has duly incorporated their feedback into the guidance published today.

Notes:

SFC-authorised funds for offering to the public in Hong Kong are subject to the applicable investment restrictions under the Code on Unit Trusts and Mutual Funds, such as a 15% limit of the fund’s net asset value (NAV) for investments in securities and other financial products or instruments that are neither listed, quoted nor dealt in on a market.
Funds may gain exposure to private market assets via direct investment in bank or non-bank direct lending in the form of loans or equities to unlisted companies; or indirect exposures including through investments in business development companies, collateralised loan obligations or financial derivative instruments. Non-exhaustive examples of indirect exposure are further set out in the circular.
For example, a fund will be considered as a complex product if its total direct and indirect exposures to private market assets amount to 50% or more of the fund’s NAV. Such funds will be subject to the SFC’s prevailing requirements for sale of complex products, including but not limited to ensuring the suitability of the funds for their investors, irrespective of whether solicitation or recommendation is involved.

ASIC: Scams And Governance Failures Dominate Misconduct Report

Thu, 03 Sep 2026 12:12:54 GMT

New ASIC data released today highlights the important role reports from the public play in helping ASIC identify misconduct, emerging risks and scams across Australia's financial system.

Between 1 January and 30 June 2026, ASIC received 9,807 ‘Reports of Misconduct’ with retail investor issues and governance matters continuing to dominate reports received by ASIC, which together account for over four in five of all reports.

ASIC Chair Sarah Court said, ‘The data ASIC receives provides critical insights into the trending issues facing consumers and businesses, helping to inform our enforcement priorities. We continue to welcome tip-offs from the public.’

ASIC recorded 170 reports that directly assisted existing surveillance or investigation matters, while 351 reports raised issues that were linked to other reports and were considered together.

Reports from the public have helped ASIC take swift action against emerging pump-and-dump scams, which are becoming increasingly sophisticated using fake celebrity endorsements, causing substantial harm to Australian investors. Scams accounted for nearly one in five reports. Scam disruption is prioritised for assessment because of the harm caused to consumers.

Additionally, the registered agent status of entities has been cancelled where they have been found to breach ASIC’s Registered Agent terms and conditions, following reports from the public.

Other matters progressed for further action include creditor-defeating dispositions in companies being wound up, allegations of whistleblower victimisation and failures to obtain a director identification number.

Common concerns in the reports included unlicensed financial services, governance failures, insolvency concerns and failures to provide company books and records to liquidators.

‘ASIC encourages members of the public to continue reporting suspected misconduct to help identify patterns and trends. Reports from the public remain a vital source of intelligence for ASIC, that help us identify consumer harm and to target resources where they will have the greatest deterrence and consumer benefit,’ Ms Court said.

Reports of misconduct and tip-offs can be made to ASIC online at Reporting misconduct to ASIC.

Background

ASIC has secured a record $830 million in civil penalties orders giving $644 million back to Australians in 2025-26. Many of the actions ASIC has taken have come from reports of misconduct.

Further information about reporting misconduct and the latest reports of misconduct data is available on ASIC's website: Reports of misconduct data.

ASIC also encourages members of the public to report scams to Scamwatch, a service run by the National Anti-Scam Centre (NASC), which has three simple steps to help Australians avoid scams online:

Stop before you share money or personal information
Check who you're really dealing with using contact details you find yourself
Protect yourself and others by reporting scams to your bank, cyber.gov.au and Scamwatch.

NZX Shareholder Metrics - August 2026

Wed, 02 Sep 2026 21:43:35 GMT

Please see attached NZX Limited shareholder metrics for August 2026.

NZX Shareholder Metrics - August 2026 PDF 134.21 KB

CME Group Sets New Open Interest Record In Henry Hub Natural Gas Futures

Wed, 02 Sep 2026 20:29:09 GMT

CME Group, the world's leading derivatives marketplace, today announced that its Henry Hub natural gas futures reached a new open interest record of 1,807,497 contracts on September 1, 2026, surpassing the previous record of 1,801,183 contracts traded on November 8, 2024.

Trading in physically-delivered Henry Hub futures tends to rise ahead of winter months, with open interest usually peaking around November of each year. In 2026, as clients positioned for geopolitical shifts and winter volatility, CME Group open interest rose faster than usual and to record levels.

"Clients are turning to CME Group's energy futures and leading options markets to manage their risk as a Super El Niño reshapes weather-driven demand, record LNG output reorders global gas flows, and the Middle East creates ongoing supply uncertainty," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "We remain focused on delivering around-the-clock, on-screen liquidity that market participants need to hedge effectively in any environment."

CME Group's energy business had a record first half of 2026, with average daily volume climbing 11% to 3.3 million contracts.

For more information on CME Group Natural Gas futures and options, please visit here.