Auditing company SAMIL PricewaterhouseCoopers, the Korean member firm of PricewaterhouseCoopers, is partnering with Fernbach-Software to establish an IFRS Centre of Excellence in Seoul, South Korea, to train, educate and prepare banks for IFRS compliance, set to become mandatory in Korea in 2011.

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A hybrid model in Australia, where market operators could be allowed to smart order route orders to other markets for participants, could be considered by the Australian Securities & Investments Commission (ASIC), the country’s financial regulator, Chi-X Global has suggested.

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In a move to embrace the reform and development of the capital markets in China, the Shenzen Stock Exchange is looking to build multi-tier capital markets, enhance investor education and technical support, rev up construction of its service system for small and medium sized entrants to the capital markets and strengthen its infrastructure, says party committee secretary and chief director of the bourse, Chen Dongzheng.

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The Australian Securities & Investments Commission (ASIC) has permitted responses from banks and brokerages to a second round consultation process, CP 95 Competition for Market Services, until January 29 2008, following responses gathered last year from around 30 participants on its CP 86 document. Respondents to the first round included AXE ECN and Liquidnet, which are seeking to operate fully in Australia.

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Bank of Thailand’s (BoT’s) Bank of Ayudhya Public Company Limited (BAY) has implemented Fermat Private Limited’s Basel II RWA calculation engine and BoT reporting tool in a record five months. BAY also licensed Fermat’s IAS 39 solution. “A successful implementation of Fermat’s Basel II puts BAY in a leadership position in moving towards regulatory compliance,” says Gilbert Gagnaire, co-founder of Fermat.