#Fortesays: News - Forte Markets

MiFID II

UK brokers begin to feel the squeeze from MiFID

Source: Financial Times It is crunch time for the UK’s small corporate brokers, as new European markets rules begin to squeeze the sector. Mifid II legislation, which came into force in January, requires fund managers to pay banks and brokers directly for analysts’ research instead of combining the cost with trading commissions. The shake-up has […]

VAT News

FTA: More than 275,000 businesses registered for VAT

Source: The National More than 275,000 UAE businesses have registered for VAT, but tens of thousands have yet to do so and the government plans to crack down on unregistered businesses, said the director general of the Federal Tax Authority. Khalid Al Bustani said on Wednesday, “[275,000] is a good number, however in our opinion […]

MiFID II

ESMA updates its double volume cap register

Source: ESMA Updates include DVC data and calculations for the period of 1 March 2017 to 28 February 2018 (so-called March 2018 publication) as well as updates to already published DVCs. MiFID II introduced the DVC to limit the amount of dark trading in equities allowed under the reference price waiver and the negotiated transaction […]

VAT News

GCC deal flow unaffected by VAT

Source: CPI Financial The recent introduction of five per cent Value Added Tax (VAT) in the UAE and KSA has not impacted deal flow in the GCC as the tax rate is relatively low compared to global markets. This is despite many companies finding themselves unprepared for the 1 January implementation date and scrambling to […]

MiFID II

ESMA updates its MiFID II Q&As on Market Structure and Transparency

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding transparencyand market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The Q&As provide clarification on the following topics: the scope of the trading obligation for derivatives; the default tick size regime; fee structures; SI […]

MiFID II Uncategorised

Redefining your affiliates under MiFID II

Source: LeapRate MiFID, or the Markets in Financial Instruments Directive, has presented European financial institutions with a vast array of challenges. One of these is the relationship with and definition of Introducing Brokers, or IBs. The real question is whether all member company affiliates must be classified as IBs. Financial trading companies have been working […]

VAT News

VAT Gains: GCC Residents Benefit From the Cheapest Tax Rates

Source: Albawaba Business Governments all over the world impose and implement taxes to strengthen their economic development and enable it to be a real competitor among the world’s advanced economies. Value Added Tax (VAT) also known as Goods and Services Tax (GST), is a major source of revenue for governments around the world. When the […]

Basel

BASEL III and BASEL IV Implementation, ALM and ICAAP and ILAAP Best Practice Process

CourtesyAxiomSL From a supervisory perspective, there is maybe nothing more important than the principle of ensuring Banks’ viability in times of crisis The window to this for the Regulator and indeed internally, is via two processes conducted separately, ICAAP and ILAAP. The stakeholders of these processes, including the CEO, CRO, CFO, Head of ALM and […]

VAT News

2018: A busy year ahead for Dubai contractors

KhaleejTimes 2018 will see the most number of construction contracts awarded related to Expo 2020, reckons JLL, a real estate consultancy. The value of contracts directly related to Expo 2020 is $6.1 billion. “2018 will be a busy year for contractors who have bagged Expo contracts as they will be in delivery mode. They can […]

Basel Uncategorised

Strategic ALM and integrated balance sheet management: the future of bank risk management

Strategic ALM and integrated balance sheet management: the future of bank risk management By Professor Moorad Choudhry Abstract The traditional approach to asset-liability management (ALM) practice in banks operated as a reactive process following product origination by the customer-facing business. In the Basel III era a more proactive approach to ALM is required, in order […]

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