Mondo Visione Worldwide Financial Markets Intelligence

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  • The Unauthorized Virtual Currencies Are Illegal Inside The Kingdom Of Saudi Arabia

    Date 13/08/2018

    The standing committee warns against trading in the digital currencies or what is known as virtual currency for their negative consequences and high risks on traders as they are out of government supervision. The committee assured that virtual currency including, for example but not limited to, the Bitcoins are illegal in the kingdom and no parties or individuals are licensed for such practices. The committee warns all citizens and residents about drifting after such illusion and get-rich scheme due to the high regulatory, security and market risks involved, not to mention signing of fictitious contracts and the transfer of funds to unknown recipients/entities/parties.

  • DIFC Courts Memorandum With The Hong Kong High Court Cements China Links

    Date 13/08/2018

    • DIFC Courts and the Hong Kong High Court sign Memorandum of Guidance to enhance enforcement of cross-border judgments
    • Alliance builds on existing memoranda with dispute resolution entities of major Chinese trading hubs

  • Shanghai Stock Exchange Adjusted Market-Closing Trading Mechanism To Come Into Effect On Aug. 20

    Date 13/08/2018

    To further maintain the price stability at the market closing stage, the Shanghai Stock Exchange (SSE) has adjusted the market-closing trading mechanism to adopt the call auction for the 3-minute market closing as approved by the China Securities Regulatory Commission and has revised the "SSE Trading Rules" accordingly. Meanwhile, the SSE has accordingly revised the "SSE Measures for Implementation of Shanghai – Hong Kong Stock Connect Business", the "SSE Measures for Management of Stock Trading on Risk Alert Board", the "SSE Detailed Rules on Real-time Monitoring on Abnormal Transactions of Securities" and the "Notice on Relevant Issues of Trading Regulation at Preliminary Listing Stage of New Shares" (Shang Zheng Fa [2015] No. 59 Document). The market-closing trading mechanism and relevant adjustments shall come into effect on August 20, 2018. 

  • The Saudi Arabia Capital Market Authority Publishes The Draft Rules For Registering For Auditors Of Entities Subject To The Authority's Supervision For Public Consultation

    Date 13/08/2018

    The Capital Market Authority ("CMA") invited specialists, interested parties and the public to provide their comments and observations on the Draft Rules for Auditors of Entities Subject to the Authority's Supervision ("Draft Rules"), which are available on the CMA’s official website for a period of (30) calendar days from its publication. The CMA assured that all comments and observations received will be taken in consideration for the purpose of adopting the final version of the Rules.

  • Dalian Commodity Exchange: Benefited From Basis Trading Instead Of Hedging Via Floor Market Large Leading Iron & Steel Enterprises Accelerate Pace Of Taking Part In Futures Trading

    Date 13/08/2018

    As the futures market’s influence on the iron and steel industry has been growing, basis trading based on futures prices has been promoted in the industry. At the “Signing Ceremony of Basis Trading – Forum on the Basis Trading of Iron & Steel Raw Materials” held by Dalian Commodity Exchange (DCE) and the China Iron and Steel Industry Association on August 6, participants said that basis trading has been a major trend for the bulk commodity trading in contemporary world, as it is able to lock cost or profits and satisfy the flexible negotiation demands of the trading parties.