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China publishes rules to boost data security in money brokering
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +2 min
SHANGHAI, Aug 30 (Reuters) - China published rules on Wednesday aimed at boosting data security in the money brokering industry, five months after a disruption in data services caused two days of chaos in the country's $21 trillion bond market. Five financial watchdogs, including the central bank as well as forex and securities regulators, urged interdealer brokers to improve data and risk management, and safeguard data security. Interdealer brokers, when offering data services, "must not endanger national security, financial safety and public interest," the regulators said in a joint statement. Chinese regulators in March suspended the data feed business of money brokers, citing data security concerns, triggering a slump in bond trading turnover as many traders lost immediate access to real-time data. China has in recent years grown more concerned over data security and rolled out new laws and compliance requirements for companies.
Persons: LSEG, Tullett, Jacqueline Wong, Muralikumar Anantharaman, Mark Potter Organizations: China Foreign Exchange Trade System, Shanghai Stock Exchange, Information Co, Refinitiv Information Services, Co, Bloomberg L.P, Thomson Reuters, London Stock Exchange, Reuters, NEX International, Partners, Central, Financiere, National Administration of Financial, Cyberspace Administration, Shanghai, Thomson Locations: SHANGHAI, China, LSEG ., Central Tanshi
"After the chaos, coordination between bodies will be strengthened," one of the regulatory sources said. Turnover in the market — the world's second-largest bond market with $21 trillion in notes outstanding — slid and traders said they had to scramble to chat groups for quotes. In contrast to the pre-ban market, Tullet Prebon's data is now available on all other bond market information platforms including Wind, Dealing Matrix and government-affiliated iDeal. China's interbank bond market operator also said on March 20 that iDeal now offers price data from six interdealer brokers. The strength of the market's reaction to the data ban had surprised authorities, according to one of the regulatory sources.
TP ICAP obtains crypto exchange license in the UK
  + stars: | 2022-12-01 | by ( ) www.reuters.com   time to read: 1 min
Dec 1 (Reuters) - TP ICAP (TCAPI.L) has obtained a license to register as a cryptoasset exchange provider with UK's financial regulator through its Fusions Digital Assets marketplace, the world's largest inter-dealer broker said on Thursday. The company added the crypto exchange platform, which is for institutional investors only, will be operated by its unit Tullett Prebon Ltd. Reporting by Sinchita Mitra in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.
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