Article: Hong Kong stock exchange to extend circuit breakers to futures products to temper wild gyrations in equities and derivatives

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HKEX incoming CEO Nicolas Aguzin

Hong Kong stock exchange to extend circuit breakers to futures products to temper wild gyrations in equities and derivatives

Yahoo Finance, 09 April 2021

The move will add to similar controls put in place since August 2016, first on extreme gyrations in equities and a year later on derivative products. They followed a series of events that provoked regulatory probes into market misconduct such as price manipulation and pump-and-dump scandals.

“The volatility control mechanism (VCM) has worked as intended without any negative feedback from the market,” said Tom Chan Pak-lam, chairman of Hong Kong Institute of Securities Dealers, the local brokerage industry body. “In many cases, sharp and sudden price movements were smoothed out as the cooling-off periods allowed participants to react while trading continued.”

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Article: Why Is It Moving? Looking Into Why SeaChange International’s Stock is Trading Higher Today

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Why Is It Moving? Looking Into Why SeaChange International’s Stock is Trading Higher Today

Erin Clark,  29 March 2021

Hong Kong Is Set to Target First SPAC Listing by End of Year

(Bloomberg) — Hong Kong is expected to have its own blank check company listing framework ready in June for public feedback and targets allowing deals to start by the end of this year, according to people familiar with the matter.The city is looking at tighter rules for sponsors of special purpose acquisition company listings and their buy-out targets than those enforced in the U.S., said the people, who asked not to be named discussing internal deliberations. Continue reading “Article: Why Is It Moving? Looking Into Why SeaChange International’s Stock is Trading Higher Today”

Article: Ex-UBS trader beats market manipulation charge

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Ex-UBS trader beats market manipulation charge

New York (AFP), 25 April 2018

Former UBS precious metals trader Andre Flotron was acquitted on Wednesday of market manipulation, a development that could spell trouble for similar cases against other Wall Street traders.

Authorities arrested Flotron late last year on charges he engaged in a Wall Street practice called “spoofing,” which involves placing and then immediately aborting trades to move prices. The acquittal follows January’s $46.6 million settlement with UBS, Deutsche Bank and HSBC over allegations traders at the banks worked to manipulate futures markets in precious metals between 2008 and early 2014.

Before this case, only three other people had ever been charged with “spoofing,” according to the Justice Department, a practice banned under the 2010 Dodd-Frank Wall Street reform legislation. Continue reading “Article: Ex-UBS trader beats market manipulation charge”