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Osaka Securities Exchange Revisions of Futures and Options Trading Rules, etc. at the Launch of J-GATE
December 28, 2010-- OSE will revise futures and options trading rules at the same time as the launch of the new derivatives trading system (J-GATE) on February 14, 2011. In addition, OSE will revise the fee schedule for futures and options trading, in order to avoid the fee level fluctuation risks, etc.
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Source: Osaka Securities Exchange
Revision of the tick size for Dividend Index futures and other notices
December 28, 2010--TSE decided to revise tick size for Dividend Index futures scheduled on January 24th, 2011. We hope that it will bring investors more flexibile trading.
| Contracts | New | Current |
| Nikkei 225 Dividend Index futures | 0.1 JPY | 0.5 JPY |
| TOPIX Dividend Index futures | 0.01 point | 0.05 point |
| TOPIX Core30 Dividend Index futures | 0.01 point | 0.05 point |
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Source: Tokyo Stock Exchange
China Suspends Shanghai ETF Approvals, Oriental Says
December 28, 2010--China’s securities regulator has suspended approval of exchange-traded funds seeking to list on the Shanghai Stock Exchange since technical glitches in November, the Oriental Morning Post reported, citing unidentified people.
The unidentified technical issues delayed ETF transactions on the exchange on Nov. 5, the Oriental Morning Post said. The China Securities Regulatory Commission hadn’t approved any ETFs in Shanghai from Nov. 5 to Dec. 23, the newspaper said, citing a statement from the CSRC dated Dec. 27. The nation’s yuan- denominated A-share market has 21 ETFs as of December, the newspaper said.
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Source: Bloomberg Businessweek
China pares back rare earths exports
December 28, 2010-- China is scaling back its exports next year of rare earth minerals used in high-tech products, which could be an unpopular move with countries such as the United States and Japan.
Numbers released on Tuesday by the commerce ministry show export quotas of the rare minerals will be down 11% next year, as compared to the same period this year.
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Source: FIN24
BMO's Fullgoal to launch first Shanghai index ETF
December 27, 2010--Bank of Montreal's (BMO.TO) China fund venture will launch the country's first exchange-traded fund (ETF) that tracks the benchmark Shanghai stock index, heralding more innovations in ETF products to come in the world's second-biggest economy.
Fullgoal Fund Management Co said on Monday it would launch early next year an ETF that tracks the Shanghai Composite Index .SSEC, China's first equity index that was compiled two decades ago when the country's stock market was established.
Despite a boom in index publishing over the past 20 years, the Shanghai Composite Index -- representing 923 companies listed in the city -- remains the most influential index both home and abroad, said Xie Wei, vice general manager of the Shanghai Stock Exchange.
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Source: Reuters
SGX Proposes Admission Of Remote Trading Members For Securities Markets
December 27, 2010--Singapore Exchange (“SGX”) proposes to expand membership on the securities market to foreign brokers based abroad. These brokers, regarded as remote trading members will observe their home rules and deal only for foreign investors.
The proposal will expand the pool of international participation. Foreign investors can deal into the Singapore markets with greater convenience and choice. This will in turn lead to increased liquidity in our Singapore market.
Benefits to the Singapore Market: Increased Participation and Efficiency
At present, some foreign investors transact through multiple layers of intermediaries in order to access the Singapore markets. With the introduction of the remote trading members, foreign investors will be served by a wider pool of trading professionals with access to the Singapore market. This initiative will extend the reach of SGX into the international market.
Maintaining the Standards and Quality
Remote Trading Members will be observing regulatory requirements which are on par with those in Singapore. Some of these are:-
licensing from a recognised foreign regulator/jurisdiction;
high standards of business conduct, including the provision of risk disclosure statements, issuance of contract notes and statements of accounts to investors;
minimum financial requirements such as minimum shareholders’ funds of S$1 million and complying with ongoing financial obligations under a comparable capital adequacy framework; and
proper internal controls and risk management systems.
All trades will continue to be cleared via a Singapore-based SGX clearing member.
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Source: Mondovisione
FSA publishes an English translation of Annual Supervisory Policies for Financial Instruments Business Operators, etc. for Program Year 2010
December 27, 2010--The FSA published today an English translation of Annual Supervisory Policies for Financial Instruments Business Operators, etc. for Program Year 2010.
view the Annual Supervisory Policies for Financial Instruments Business Operators, etc. for Program Year 2010
Reference: Composition of Supervisory Policies (Financial Instruments Business Operators, etc.)
Source: FSA Japan
China raises interest rates for second time in 10 weeks in effort to slow property, inflation gains
December 25, 2010--China raised interest rates for the second time in 10 weeks Saturday to counter the fastest inflation in the country in more than two years, with additional moves seen as possible.
The benchmark one-year lending rate will rise by 25 basis points to 5.81 percent and the one-year deposit rate will climb by the same amount to 2.75 percent, effective Saturday, the People's Bank of China said in a one-sentence statement on its Web site late Friday.
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Source: Washington Post
Japan to tighten short-selling rules
December 24, 2010--Japan’s Financial Services Agency said on Friday it would ban purchases of newly issued shares by those who short-sell shares in an issuer before the offering price is set.
The move is designed to curb excessive short-selling by investors looking to profit by driving a stock down in the run-up to a share offering
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Source: FT.com
Hong Kong acts to ease renminbi capital flows
December 23, 2010-- Hong Kong’s de facto central bank has announced measures designed to ease capital flows of the renminbi for companies seeking to conduct trade in the Chinese currency.
The changes, unveiled on Thursday, came as part of the island’s move to enhance its role as an offshore centre for renminbi trade settlement.
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Source: FT.com
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