Markit Selected by ASIFMA for Hong Kong Electronic Equities Compliance
The solution will help institutions automatically transmit information and acknowledgements required by the new rules, set to go into effect in January 2014, by using an electronic format for questionnaires designed by ASIFMA and related interested industry associations to help brokers sign off on internal vetting of their electronic platforms, and buy-side clients attest to understanding those platforms.
“For several months, the Asia TraderForum buy-side industry group has been seeking an efficient solution to facilitate compliance with the SFC’s new electronic trading rules, and we are pleased the industry has selected a single platform to assist us in managing the process," says George Molina, senior vice president and director of Asian trading at Franklin Templeton Investments.
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