Chinatex traders engaged in wash trading in order to liquidate a long position in the account of an affiliated company and re-establish the position in its own account, to the ultimate benefit of its parent company, COFCO.
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Going into this week all eyes were on the Jackson Hole Symposium which commenced on Thursday. Several Federal Reserve members issued statements.
The firm already offered lifetime zero commissions for US stocks.
“ETF Connect is an important milestone because for the first time Stock Connect is expanded beyond stock trading.”
Stock Connect is a platform designed to allow international and Mainland Chinese investors to trade securities in each other’s markets through the trading and clearing facilities of their home exchange.
The US Senate could pass new legislation to ban hosting China’s e-CNY – also known as the digital yuan – by US app stores like Apple store, Google Play, and other providers.
“Saxo is well-positioned to work with more institutional clients in the region to accelerate their digital transformation and improve end client experience.”
2022 kicked off with a major leap forward for the e-CNY – also known as the digital yuan as Chinese authorities have broadened the range of public services included in its pilot project.
Hong Kong’s securities regulator has banned a former licensed representative of China Tonghai Securities Limited from re-entering the industry for 18 months after he was convicted of conducting unauthorized trades from clients’ accounts.
Charlie Hu, former head of Polygon China, is joining the blockchain development platform Syscoin as an ecosystem advisor.
In December, ASIC approved Marex to operate in Australia with its OTC derivative products, futures execution, clearing services, and broader OTC offerings.
People’s Bank of China (PBOC) has rolled out a pilot version of a mobile app that allows users to open a digital yuan wallet and pay with the currency, also known as e-CNY.
The partnership with Tencent’s subsidiary Weixin is a major move by Tencent in its quest for international expansion, namely into the Greater China market.
Morgan Stanley is set to increase its stake in its Chinese brokerage venture after a mainland partner had put up 4.06% of its ownership for sale, an exchange filing showed on Wednesday.
Preparations are expected to take approximately six months to complete before ETFs become available on the Stock Connect.
China has officially banned cryptocurrency trading and mining activities. Many Chinese digital currency exchanges have already established bases outside of mainland China. There are now reports that Beijing is pressurizing its State-run enterprises to cease crypto mining, and the nation’s government is expected to impose severe penalties on businesses that don’t comply with these orders.
Huobi, the world’s sixth-largest crypto exchange by trading volume, said it will terminate all its services for mainland investors by the end of the year.
China is proceeding towards the establishment of a central bank digital currency, which is popularly called the digital yuan or the e-yuan, and as is the case with any major rollouts, it is fraught with risks and scams as well.
Market participants in Mainland China will have real-time access to prices in Asia’s most international marketplace.