Stock exchange of hong kong options clearing house - About BRICSMART

Australian Superannuation Legislation,16th ed. The publication includes the complete superannuation industry supervision SIS legislation, superannuation guarantee Act, unclaimed superannuation money Act, and government co-contributions Act.

It also includes relevant extracts from the income tax and taxation administration Acts, and other laws impacting on superannuation operation.

Selected pages Table of Contents. Contents Superannuation Industry Supervision Act Superannuation Industry Supervision Regulations Superannuation Resolution of Complaints Act My library Help Advanced Book Search. Shop for Books on Google Play Browse the world's largest eBookstore and start reading today on the web, tablet, phone, or ereader.

The Structure of Derivatives Exchanges: Lessons from Developed and Emerging MarketsIssue George TsetsekosPanayotis N. World Bank Publications- Clearing of securities - 44 pages. February Derivatives exchanges can offer emerging market economies certain important benefits, including risk transfer, price discovery, and more public information.

This was done by establishing the necessary regulatory framework in the form of the Financial Markets Act, No. The draft regulations deal with:. The OTC derivatives market plays an important role in domestic financial markets and the economy, particularly as these institutions use derivative products primarily for risk-hedging.

Domestic participants in the OTC market are mainly corporates and banking institutions. South Africa has adopted a three-part phased approach to implementing the G20 obligations. Further discussions are planned with all the relevant stakeholders as these entities undertake to refine and finalise the regulations.

Delivery, Exercise and Corporate Actions

What is clear is that the FMA will regulate the OTC derivatives market and also provide for the establishment and licensing of a trade repository to which OTC derivatives trades will have to be reported and will be monitored by the regulators. The market for OTC derivatives is significant and global by nature.

The G20 Summit noted that OTC derivatives had contributed significantly to the global financial crisis and that certain features of the market had the potential to exacerbate systemic risk. In order to understand OTC derivatives, it is important to understand derivatives in general.

Derivatives are defined as the type of security in which the price of the security depends or is derived from the price of the underlying asset. The most common underlying assets include bonds, commodities, stocks, currencies and interest rates.

Hong Kong's Stock Exchange: The Next Step

The common types of derivatives include forwards, options, futures, warrants and swaps. OTC derivatives are traded between two parties bilateral negotiation without going through an exchange or any other intermediaries. The common types of OTC derivatives are interest rate derivatives, credit derivatives, commodity derivatives, forex derivatives and equity derivatives.

CCPs interpose themselves between involved parties in a excyange to serve as the focal point of each trade. They have a pivotal role in reducing systemic risk through centralised risk management that contributes to reducing total counterparty risk exposure.

A challenge for the South African market has been the general lack of market infrastructure to provide central clearing services for OTC derivatives to South Honng market participants. Accordingly, the draft regulations therefore introduce a rigorous framework for the regulation of CCPs, and contain stringent prudential, governance and conduct requirements.

EMIR also requires risk mitigation techniques for derivatives not cleared via a CCP for example, reconciling portfolios periodically and agreeing dispute resolution procedures between counterparties.

There are also higher capital requirements for non-centrally cleared derivatives.

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Description:In finance, a contract for difference (CFD) is a contract between two parties, typically described CFDs may be traded as stocks, bonds, futures, commodities, indices, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, The Netherlands, . Exchange-traded contracts traded through a clearing house are generally.

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