News Centre

China’s 1st Shantytown Reconstruction Bond Issued By Tender On Shanghai Stock Exchange

Date 29/06/2018

The 2018 Tianjin Municipality Hongqiao District Shantytown Reconstruction Bond (Phase 1) was successfully issued through the MOF-SSE Government Bonds Issuance System on June 20. It marked an official landing of the 1st shantytown reconstruction bond in China after the issuance of the “Notice of Printing and Releasing the ‘Management Measures on Pilot Issuance of Local Governments’ Shantytown Reconstruction Bonds’” by the Ministry of Finance (MOF) and the Ministry of Housing and Urban-Rural Development on March 1.

BETTER FINANCE: The Key Information Document Will Provide Investors With Misleading And Non-Comparable Future Projections

Date 29/06/2018

On Thursday 28 June, the European fund and asset management industry body issued a press release stressing the worrying shortcomings of the rules governing the Key Information Documents (KID) for Packaged Retail and Insurance-based Investment Products (PRIIPs). This follows the publication of its Evidence Paper that found that the new methodology for calculating transaction costs imposed by the PRIIPs regulation often produces positive “costs” and that the new KID deprives investors of a crucial past performance information.

Shenzhen Stock Exchange Q&As On The 2017 Cash Dividend Distribution Of SZSE-Listed Companies And The Supervision

Date 29/06/2018

1.Q: In 2017, the total amount of cash dividend distributed by listed companies hit a record high. Can you brief about the basic cash dividend situations of SZSE-listed companies? And what’s different from those in previous years?

A: More than 2,100 SZSE-listed companies have disclosed their 2017 annual reports so far. Among them, 1,620 companies, accounting for 77%, have cash dividend distribution plans, with the distribution amount totaling more than CNY220 billion, up by 17% from that in the last year and setting a record high. Among them, a number of companies have continued to devote great efforts to distribute cash dividends, playing a good exemplary role. For instance, VANKE has paid cash dividends every year since its listing in 1991. Its cumulative dividend amount has reached CNY41.21 billion, accounting for more than 25% of its cumulative net profit realized. The cumulative cash dividends of Midea Group have exceeded CNY33 billion, far more than its cumulative financing amount of approximately CNY9.6 billion since its listing. NHU has distributed cash dividends for 14 consecutive years since its listing in 2004, with its cumulative cash dividend surpassing CNY4.5 billion and its average cash dividend ratio over the years exceeding 40%. The companies that have been paying dividends every year since listing include HIKVISION, BY-HEALTH, Inovance Technology, Sino Wealth Electronic and Jingsheng M&E etc. The SZSE-listed companies’ cash dividends in 2017 are of the following characteristics:

Notice Of Releasing “Shanghai Stock Exchange Measures On Implementation Of Pilot Listing And Trading Of Stocks Or Depository Receipts Of Innovative Enterprises”

Date 29/06/2018

To standardize the pilot listing and trading of stocks and depository receipts of innovative enterprises on the Shanghai Stock Exchange (SSE), maintain the market order and protect legitimate rights and interests of investors, the SSE has formulated the “SSE Measures on Implementation of Pilot Listing and Trading of Stocks or Depository Receipts of Innovative Enterprises” (see the attachment) in accordance with such laws, administrative regulations, departmental regulations and normative documents as the “Opinions on Pilot Issuance of Stocks or Depository Receipts by Innovative Enterprises in China’s Mainland” and the “Management Measures (Pilot) on Issuing and Trading of Depository Receipts”, as well as the “SSE Stock Listing Rules” and the “SSE Trading Rules”. It is hereby released and shall come into effect as of the date of issue.

Contineo Announces New CEO

Date 29/06/2018

Contineo, Asia’s largest messaging network and data provider for structured products, announced today that Antoine de Charnacé has been appointed as CEO.

China Securities Museum Debuts On 14 June

Date 29/06/2018

The 1st exhibition of China Securities Museum was officially unveiled at the 10th Lujiazui Forum on 14 June. Wu Qing, Deputy Mayor of Shanghai, and Huang Hongyuan, Party Chief and Chairman of the Shanghai Stock Exchange (SSE), unveiled the plaque for the exhibition; Jiang Feng, SSE Deputy Party Chief and President presided over the opening ceremony; and Zheng Yang, Director of the Shanghai Financial Service Office (SFSO), Zhang Dongke, SSE Vice Chairman, and heads of relevant departments attended the ceremony. On the occasion of the 40th anniversary of the reform and opening-up of China and at the new historical beginning, the Financial Culture Exhibition will add radiance to the construction of Shanghai International Financial Center.

Montréal Exchange Interest Rate Derivative Trading Ceases At 13:30 P.m. Today - Exchange's Markets Closed On July 2, 2018

Date 29/06/2018

Interest rate derivative trading will cease at 1:30 p.m. today, June 29, 2018. Furthermore, the Exchange's markets will be closed on July 2, 2018.

The Investment Industry Regulatory Organization Of Canada Closes The Market

Date 29/06/2018

Andrew J. Kriegler, President & CEO, The Investment Industry Regulatory Organization of Canada (IIROC), joined John McKenzie, Chief Financial Officer, TMX Group, to close the market to celebrate 10 years as a public interest regulator, protecting Canadian investors and supporting healthy capital markets. IIROC is the national self-regulatory organization that oversees all Canadian investment dealers and their trading activity in Canada's debt and equity markets.

Decisions Taken By The Governing Council Of The ECB (In Addition To Decisions Setting Interest Rates)

Date 29/06/2018

Monetary policy

Non-standard monetary policy measures

On 14 June 2018 the Governing Council decided that net purchases under the asset purchase programme (APP) would continue at the current monthly pace of €30 billion until the end of September 2018 and announced that it anticipated that, after that date – and subject to incoming data confirming the Governing Council’s medium-term inflation outlook – the monthly pace of net asset purchases would be reduced to €15 billion until the end of December 2018, and that net purchases would then end. The Governing Council also announced its intention to maintain its policy of reinvesting the principal payments from maturing securities purchased under the APP for an extended period of time after the end of the net asset purchases, and in any case for as long as necessary to maintain favourable liquidity conditions and an ample degree of monetary accommodation. More detailed information on the background to these decisions can be found in the introductory statement available on the ECB’s website and in the press release published on that day.

Statement On Investment Company Liquidity Disclosure, SEC Commissioner Robert J. Jackson Jr.

Date 28/06/2018

Thank you, Chairman Clayton, and thank you to the terrific Staff in the Division of Investment Management, especially the Division’s exceptional David Bartels and Division Director Dalia Blass, for all of the hard work that has gone into this process.