The Securities and Futures Commission (SFC)in Taiwan has agreed that foreign investors be allowed to participate in bond futures trading for hedging their cash market positions. However, the SFc has reminded foreigners that the initial margin value of open interest
The first index linked JGBs will be issued on 10 March 2004, the Japanese authorities announced yesterday. The distribution of the new instruments will be restricted to domestic investors only.
New York City is expected to take its securities lending fight with Citibank to court and has also undertaken a search for a new custodian. New York City's pension funds last week sued several banks, accusing them of aiding bankrupt
The agency securities lending group at Dresdner Kleinwort Wasserstein (DrKW) has been awarded the third party securities lending mandate for the Apple Bank for Savings' investment portfolio. The 140 year old Apple Bank for Savings, which has lent securities since
Securities lending in Norway is on the threshold of sweeping reforms. Proposals are now before the Norwegian Parliament which will authorize securities loans as genuine transfers of title, but not ones which trigger a taxable event. However, borrowers paying manufactured
The International Securities Market Association (ISMA) has changed its rules and recommendations governing trading in the international securities market by bringing its rulebook more in line with the TBMA ISMA Global Master Repurchase Agreement (GMRA). The rule change, shortening the
In a letter recently submitted to the European Central Bank, The Bond Market Asso ciation and the European Securitisation Forum commented on the Bank's Public Con sultation Paper on Measures to Improve the Collateral Framework of the Eurosystem. The Association
As part of its efforts to improve the liquidity and stability of the JGB market, the Japanese Ministry of Finance has confirmed it will introduce a primary dealer system in October 2004. Primary dealers will compete in tenders of JGBs,
NewEuroMTS, the market for trading euro denominated government securities of the EU Accession States and which is aimed at promoting the efforts of the EU Accession States towards integration into the European fixed income capital markets, was successfully launched on
The Ministry of Finance (MOF) has announced its plan to issue Exchangeable Government Bonds by the end of first quarter 2004. The first offer will be approximately NTD 30 40 billion (USD 880 million to USD 1.2 billion) with a