Some investors who had subscribed to a public offering by Postal Savings Bank of China have refused to pay for and accept about 3% of shares, a rare event. The bank aims to raise 28.45 billion yuan in the first part of the offering.
A European Central Bank document says the central bank should offer a digital currency if the private sector fails to come up with an efficient pan-European payment system. An ECB digital currency "could guarantee that all users have, in principle, access to a cheap and easy means of payment", the document says.
The Global Foreign Exchange Committee plans to prioritize getting asset managers and hedge funds to sign on to the FX Global Code. The GFXC is also exploring how the use of algorithms and anonymous trading platforms can adhere to the FX code.
A panel of Asian exchange leaders at FIA's 15th Annual Asia Derivatives Conference in Singapore discussed plans to attract more international clients and boost market share.
FIA's annual exercise to help derivatives market participants prepare for tech disruptions saw mock hackers hold the fictional Boston Financial Futures Exchange's operations up for ransom after infecting its systems with a malicious "worm" program.
A panel discussion at FIA's 15th Annual Asia Derivatives Conference in Singapore explored the commodity market environment for 2020 with the opening of Chinese markets to global financial participants.
Tech Republic looks at the 10 most significant cyberattacks of the past decade, including those targeting Equifax, Capital One and Sony Pictures. "For me, the largest hacks of the decade are not just the ones that were the biggest, but the ones that were game-changers in how we approach security," said Etay Maor, chief security officer at the cybersecurity firm IntSights.
Sen. Elizabeth Warren, D-Mass., is expected to introduce a bill that would require more testing for banks that want to merge and approval of mergers from the Consumer Financial Protection Bureau. Rep. Jesús García, D-Ill., will introduce similar legislation in the House of Representatives.
France and other countries should suspend taxation of internet companies until an international agreement is signed, Treasury Secretary Steven Mnuchin says in a letter to Organisation for Economic Co-operation and Development Secretary-General Angel Gurria.