News Centre

Al Hilal Bank Partners With Abu Dhabi Global Market To Promote Islamic Finance

Date 31/07/2018

Al Hilal Bank has announced a new partnership with the Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, aimed at promoting Islamic Finance in Abu Dhabi and across the UAE. The Memorandum of Understanding (MoU) was signed by Alex Coelho, Chief Executive Officer at Al Hilal Bank, and Richard Teng, Chief Executive Officer of the Financial Services Regulatory Authority (FSRA) at ADGM Authorities Building on Al Maryah Island.

HKEX Announces China Tower-Related Initiatives

Date 31/07/2018

• China Tower Futures and Options to be introduced on 8 August
• Issuers can launch China Tower derivative warrants when China Tower shares debut
• China Tower shares to be included in Designated Securities Eligible for Short Selling when they begin trading

BT Brings Fintech Innovation To Global Foreign Exchange Markets With Cobalt - BT Is Making It Easy For Large Financial Institutions To Benefit From The Latest Fintech Innovations

Date 31/07/2018

Global financial institutions’ foreign exchange (FX) post-trade systems are aging, becoming increasingly inefficient, risk-laden and costly. Many are struggling to cope with the demands of accurate data capture during the life cycle of trades. This is creating operational risk and could undermine regulatory compliance.

EEX New Participant: KEN S.A.

Date 31/07/2018

KEN S.A. has been admitted to exchange trading for Phelix Futures and Options, French Financial Power Futures and Options, Belgian Financial Power Futures, Dutch Financial Power Futures, Italian Financial Power Futures and Options, Nordic Financial Power Futures and Options, Spanish Financial Power Futures and Options, Swiss Financial Power Futures, Greek Financial Power Futures, PXE Polish Financial Power Futures, PXE Czech Financial Power Futures, PXE Hungarian Financial Power Futures, PXE Slovakian Financial Power Future, PXE Romanian Financial Power Futures and Futures and Options on Emission Rights.

UK's Financial Conduct Authority Response To Mortgage Lenders' Commitment To Help Longstanding Borrowers

Date 31/07/2018

In our Mortgages Market Study Interim Report we sought views on whether and how to enable customers on an active lender’s reversion rate to switch to a better deal in certain circumstances – including whether this could be achieved through a voluntary agreement. We welcome this initiative(link is external) by UK Finance(link is external), the Building Societies Association(link is external) and the Intermediary Mortgage Lenders Association(link is external) to respond to that challenge. We will work closely with industry to discuss the detail of this arrangement and monitor the impact it will have. We will also continue to work with industry to identify solutions for borrowers who have mortgages with inactive firms and any active lenders not signed up to this agreement.

Dash Financial Technologies Adds Stino Milito As Co-COO

Date 31/07/2018

Dash Financial Technologies, the industry leader in order routing transparency, visualization and customization solutions, today announced the addition of Stino Milito as Co-COO. Reporting directly to CEO Peter Maragos, Milito will be responsible for product strategy and leading Dash’s Institutional buy-side team, a growing group that works with the firm’s asset management and hedge fund clients to help craft highly-tailored trading solutions.

UK’s Financial Conduct Authority: Statement On The Further Investigative Steps In Relation To RBS GRG

Date 31/07/2018

The Financial Conduct Authority (FCA) has today provided an update on its investigation in to Royal Bank of Scotland’s (RBS) treatment of small and medium-sized enterprise (SME) customers transferred to its Global Restructuring Group (GRG).

Nasdaq Dubai Announces Names Of 12 Saudi Companies On Which It Will Launch Equity Futures In September

Date 31/07/2018

• The companies selected are large and liquid stocks active in major industries 
• The new products are part of the exchange’s plans to launch regional opportunities for international investors

ASIC Approves The Banking Code Of Practice

Date 31/07/2018

ASIC has approved the Australian Banking Association’s (ABA’s) new Banking Code of Practice (the Code).

Circular Of Shanghai International Energy Exchange On Trading Margin Update For Crude Oil Futures Contracts SC1901 And SC1902

Date 31/07/2018

Shanghai International Energy Exchange（hereinafter referred to as “INE”）, the subsidiary of Shanghai Futures Exchange has released its circular on the trading margin update for crude oil futures contracts SC1901 and SC1902 listed below effective since the daily clearing process begins on August 2, 2018:

• The trading margin rate of contracts SC1901 will be updated from 7% to 6% of the contract value.
• The trading margin rate of contracts SC1902 will be updated from 7% to 5.5% of the contract value.
• For each of the above contracts, if the open interest reaches 30,000 lots (two-sided) at the market close, the trading margin rate shall return to 7% since the daily clearing process begins.
• In the case that the above adjusted trading margin rates vary from other trading margin rates prescribed in the INE’s rules, the higher ones will prevail. Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margin requirements.