Latest Asia Derivatives news
Despite the PBoC having injected a record amount of funds into China's financial system this week, liquidity concerns are rising ahead of the Chinese New Year break. The fixings pushed higher and shorter NDIRS were well bid on Wednesday morning. Looking forward though sources see limited scope for further upside, writes Deirdre Yeung of Total Derivatives.
Hong Kong Exchanges and Clearing (HKEX) has gone live with a volatility control mechanism (VCM) on its derivative market to prevent extreme price volatility.
The Thailand Futures Exchange (TFEX), which enjoyed a 72% growth in trade volume last year, is set to add futures on 24 stocks.
The People’s Bank of China (PBoC) went into reverse gear on Monday, weakening the dollar fix by 0.9%, China’s foreign currency reserves cling on to the $3tr level, and Shenzhen Connect sees slow but steady foreign interest.
RMB round-up: RMB surges against dollar, CNH futures set new trading record, Zhejiang FTZ gets going
The year started with plenty of excitement, as the RMB gained ground against the dollar in onshore and offshore markets, activity surged in RMB futures in Hong Kong, and the third batch of free trade zones (FTZ) opened for business. Plus, a recap of our coverage.
Hong Kong Exchanges and Clearing (HKEX) plans to introduce options on the Chinese renminbi currency, as well as a US dollar/offshore renminbi contract, having gained approval from the Securities and Futures Commission of Hong Kong.
People & Markets
- RMB round-up: FTSE Russell adds two China indices, MRF sales slump, IFFO adds nine partners
- Malaysia regulator updates rules for MOG listings
- HKEX seeks new board to help stay top IPO city
- Asia fundraises drown out Trump volatility
- Asia people news in brief, January 20, 2017
- HKEX lines up Chinese T-bond futures, Bond Connect for 2017
- China green lights bond, share sales for foreign firms
Mirae Asset Group listed last week on the Korea Exchange two synthetic exchange-traded funds in South Korea, making it the most prolific issuer in the market.
South Korean authorities are looking at two different ways a derivatives capital gains tax could be implemented; either an annual rate of 10% on capital gains earned in excess of KRW2.5 million, or an annual rate of 20% on total earnings from gold trading and financial investment products, including derivatives.
The likelihood of Taiwan’s Bank SinoPac being forced to unwind its US dollar, offshore China yuan target redemption forward positions rose yesterday as the country’s financial regulator banned the firm from issuing further notes.
Latest Regulatory News
- RMB round-up: RMB surges against dollar, CNH futures set new trading record, Zhejiang FTZ gets going
- ICE named secretary of credit derivs determinations committees
- DGCX preps first offshore RMB gold contract
- Push on blockchain as market faces big inefficiency dangers
- Hong Kong's SFC looks to relax derivative limits
- Wrong approach on Japan derivs, but right result
- RMB round-up: HK sees deposits drop, HKEX new contracts set records, Shenzhen Connect closer
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Panda Bonds Top Arrangers
|Rank||Arranger||Share % by Volume|
|1||Bank of China (BOC)||18.01|
|3||Agricultural Bank of China (ABC)||10.59|
|5||Industrial and Commercial Bank of China (ICBC)||6.36|
Bookrunners of Asia-Pac (ex-Japan) ECM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|1||Haitong Securities Ltd||1,602.34||9||13.94%|
|3||China Securities Co Ltd||1,440.03||7||12.53%|
|4||Bank of China||1,188.86||5||10.34%|
|5||Guotai Junan Securities Co Ltd||689.79||3||6.00%|
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
|Rank||Lead Manager||Amount $m||No of issues||Share %|
Asian polls & awards
China’s private banking industry is growing in leaps and bounds. High- and ultra-high-net-worth mainland customers are increasingly mobile, demanding best-in-class service from their financial providers. Banks are adapting to the changing world, rolling out innovative and sophisticated services to their high-end clientele. In recognition of China’s advances in the field, Asiamoney is proud to announce the winners of its awards for best mainland private banks for 2016.
Asia has taken its time in improving corporate governance standards, with experts agreeing on the need for broader action. But Taiwan and Hong Kong firms seem to be moving in the right direction, as shown in the results of this year's Asiamoney Corporate Governance poll. Paolo Danese reports.
Asiamoney is pleased to present its choices for Asia’s Best Managed Companies in 2016. In a year marked by political and economic upheaval, the region’s best firms and executives impressed on through a combination of factors including financial performance, innovation and strategic execution.
Analysts in Asia are used to dealing with dynamic and unpredictable markets but the events of this year provided a real test of mettle. Against a backdrop of global political upheaval and worsening economic outlook at home, the winners of Asiamoney’s 2016 Brokers Poll have proved they have what it takes to impress their clients.
Asia’s brokerages have needed to stay nimble in the face of volatile markets and changing regulation that has tested their industry. HSBC and CLSA are well placed to meet the challenge after coming out top in the Asiamoney Brokers Poll. Peter McGill reports.