China establishes RMB 10 billion
Fin Tech fund
Several Chinese companies have
combined to establish Asia’s Fin-
Tech merger and acquisition fund-
of-funds worth more than RMB 10
billion. The fund will be led by Credit
China Fin Tech Holdings alongside
China Huarong International, Shang-
hai Xinhua Publishing Group and Jilin
Province Investment Group. It will aim
to focus on mergers and acquisitions
in Fin Tech fields including big data,
artificial intelligence and blockchain.
SGX to use blockchain for bond
The Singapore Exchange (SGX)
will explore the use of blockchain
technology for fixed income trading.
The Monetary Authority of Singapore
(MAS) explained SGX will lead the
way in focusing on making the trading
and settlement of fixed income
cycle more efficient with blockchain.
MAS has now partnered with R3 to
explore how blockchain technology
can be applied to securities settle-
ment and cross-border payments.
SESC looks to fine Morgan Stanley for
Japan’s Securities and Exchange
Surveillance Commission (SESC) has
recommended that Morgan Stanley
be fined based on the findings of an
investigation into market manipu-
lation. The SESC found a trader at
Morgan Stanley had placed orders
and conducted trades on the Tokyo
Stock Exchange over a 14-day period
in October 2015, without intention to
execute. Morgan Stanley bought a total
of 416,500 Seibu Holdings shares, whilst
placing purchase orders for over nine
million shares on its own account.
Mizuho Bank integrates
Thomson Reuters’ FX trading
Japanese bank adopts Thomson Reuters FX
trading platform due to diverse order methods.
Mizuho Bank in Japan has adopted Thomson Reuters’ next generation FX trading desktop into its trading business.
The FX Trading service combines all of Thomson Reuters’ FX
venues onto an end-to-end platform and one point of access to
its FX liquidity pool.
Thomson Reuters claims users have access to the world’s largest professional FX community, with 14,000 dealing counterparties, 1,500 FXall buy-side liquidity takers and over 300,000
Eikon Messenger contacts.
FX Trading also provides compliance tools, settlement,
straight through processing and trade history reports.
Michael Go, head of FX market development, Asia Pacific
at Thomson Reuters, explained market volatility, regulatory
scrutiny and decreased risk appetite have impacted FX market
“FX Trading allows users to easily access maximum liquidity
while complying with stringent regulatory standards,” he added.
Yosuke Takahashi, foreign markets team 1 at the international
foreign exchange department at Mizuho Bank, added the biggest advantage of Thomson Reuters FX platform is the availability of more ordering methods.
“The diversification of ordering methods leads to the improvement of operating functions and also translates into more
opportunities for trading profits,” Takahashi said.
The Bank of International Settlement’s latest survey on FX and
OTC derivatives markets found Japan was one of the top five financial centres in 2016, accounting for 77% of global FX trading.