活动背景 在全球贸易格局不断演变、地缘政治风险加剧的背景下，关税政策与贸易型洗钱（TBML）风 险正以前所未有的方式交织在一起，给企业合规带来全新挑战。我们诚邀您参加本次专题网络 研讨会，深入探讨如何在复杂多变的环境中，构建更具前瞻性与适应力的合规策略。 本次研讨会将结合真实案例，剖析当前合规与尽职调查中的关键难题，强调金融机构在识别和 应对新兴风险中的核心作用，并介绍如何借助 World-Check 工具提升筛查效率与决策质量。欢 迎合规、风控、审计及贸易相关从业者报名参加，共同探讨应对之道。 活动信息 日期： 2025年8月26日（周二） 时间： 15：30 北京时间 活动议程 负责风险合规产品的数据对接，筛查平台项目的实施以及售后支持和 产品培训；曾就职于LSEG尽职调查业务调查组，对于尽职调查和风险 筛查流程等方面具有丰富经验。 Frank Ling 凌聿丰 LSEG 高级客户学习经理 Frank自从加入公司以来，一直从事向不同类型客户提供金融信息解决 方案的培训和咨询工作。他在从金融数据和文本内容中挖市场掘洞察 方面积累了众多经验和专业能力。熟悉包括投行、资产管理、学校和 量化投研等多种工作流程的信 ...

2023年8月起，浙江大宗与伦敦证券交易所集团在数据、产品、会议等方面深化合作，其系列价格指 数产品正式登陆LSEG平台。 全球船用燃料油、LNG产业客户可通过LSEG Workspace 终端实时获取 浙江大宗价格指数，精准掌握相关产品市场行情。2024年1月，浙江大宗专属页面在Workspace金融 终端上线，该页面整合了浙江大宗基本概况及舟山价格、LNG价格、仓储价格等核心指数产品信息， 为全球用户提供高效便捷的查询渠道，进一步强化了中国油气价格的国际传播效能。 "舟山价格"，全称为"中国舟山燃料油保税船供报价"，是以上海期货交易所期货价格为基准的国内首 个保税船燃现货领域人民币报价产品，已成为全球船燃市场关注的"中国指标"。"LNG价格"全称 为"浙江地区液化天然气（LNG）消费价格"，综合反映浙江省LNG市场供需两端的实际情况。"仓储 价格"包括"舟山仓储综合价格"和"舟山仓储可用商业库容"， 围绕能源化工类仓储市场打造价格指导 产品和可用库容数据产品 ，可以帮助仓储企业、货主、监管部门及时掌握权威、全面、透明的仓储 服务价格，提供租赁渠道以降低寻库成本，助力仓储企业提升效益，增强舟山石化仓储行业品 ...

李冈峰 欧洲天然资源基金 Commodity Discovery 特约分析师 这是一个主要从美国每周的CFTC数据公布基金(Managed Positions)在当地期货市场的各种部署，继而反映 现时市场对贵金属的情绪和对短/中期的一个价格判断。美国每周五收市后公布的CFTC数据，记录日为刚过 去的周二(如果过去一周原本工作日是假日的话数据出炉会延期)。 概要 上周在美国PPI高于市场预期（其实数据可以不用看，通胀、失业率甚至是犯罪率等官方数字跟现 实比都一定是低估了）、美国澄清（暂时）不会对瑞士加工的贵金属征关税、及有"傻子"以为特 朗普能帮俄乌达成和平签约的"担忧"下，上周金价回软，截至上周二为止美国期货基金也大幅度 增加贵金属空头。 反而，最吸引笔者眼球的， 是股神毕菲特，虽然今年第二季依然是卖股票套现多于他买的股票 （套了30亿美元），但有意思的是他买了Lennar和D.R.Horton两家房屋建造商，相信这当中部分 包含了他老也认为美国利率会下跌而作的部署。 如果是以前，美息下跌美元金价不一定会受惠，因为市场信心足资金都在追逐增长股而无视避险 黄金。但现在已有众多金融大佬进场持有黄金， 目前黄金明显 ...

Vincenzo Dimase LSEG 全球客户战略与执行总监 全球贸易监控领域正经历重大变革。 曾经仅是为满足监管要求而进行的基于规则的工作；如今，已成为一门充满活力、数据驱动的学科， 并对企业运营模式产生影响。 Liam Smith LSE plc及数字与证券市场 COO 合规在决策中占据一席之地 在LSEG网络研讨会中，一项观众调查抛出这样一个问题：合规团队如今是否在企业决策进程中拥有 更大的影响力？绝大多数参与者给出了"是"或"似乎是"的回答，这彰显出企业文化的显著转变。过 去，合规常被视为业务运营的潜在阻碍，而如今，它则被视为业务发展的推动因素。 调查问题：随着行业内新的、更强大的 " 合规文化 " 兴起，合规与监控团队在关键决策流程中是否已拥有更 强的话语权？ LSE股份有限公司及数字与证券市场首席运营官Liam Smith就合规角色的演变发表看法，他表 示："我确实亲眼见证了合规职能的深刻变革，而且种种迹象表明，这一变革没有减缓迹象。" 如今，企业不再仅仅将监控视为规避监管审查与处罚的手段，更将其视为优化业务运营的契机。 近期，LSEG举办的一场网络研讨会探讨了监控与合规领域中数据、技术和文化 ...

Core Viewpoint - The article discusses the impact of recent political and economic turmoil, such as tariff increases and central bank policy shifts, on the volatility of stock, bond, and commodity markets [1][2]. Market Volatility - Following the announcement of a series of tariff policies by the Trump administration, global markets experienced significant turbulence, with nearly $6.6 trillion in market value evaporating from the U.S. stock market within two trading days. The S&P 500 index rebounded by 9.5% the following day, marking the largest single-day gain in over a decade [2]. - The volatility reflects deeper uncertainties regarding global trade policies, inflation, and central bank directions, leading to a reassessment of inflation risks and U.S. Federal Reserve policy paths, resulting in dramatic fluctuations in U.S. Treasury yields [2]. Cross-Asset Awareness - Isolated analysis of stocks is no longer sufficient; stock volatility is influenced by multiple asset classes, including commodity price fluctuations, currency volatility, interest rate expectations, and geopolitical risks [3][4]. - The divergence between U.S. and European stock markets exemplifies this, where the S&P 500 is buoyed by strong technology sector performance, while European indices are pressured by tariff concerns and energy price shocks [3]. Data Tools and Decision-Making - Investors must leverage advanced data tools like LSEG Workspace and StarMine to filter market noise and extract actionable insights, enabling them to make informed decisions in volatile markets [4][5]. - The ability to focus on critical information and utilize refined data-driven signals is increasingly valuable, as it helps identify potential opportunities during market dislocations [5]. Strategic Adjustments - Recognizing market dynamics is crucial, but the ability to act under pressure is equally important. Tariff policy adjustments can have complex ripple effects across industries and asset classes [6]. - Integrated decision-making environments, such as LSEG Workspace, allow investors to analyze and adjust strategies without switching systems, enhancing agility in responding to market changes [6]. Maintaining a Competitive Edge - Market volatility is expected to persist, and investors must build processes, utilize appropriate tools, and apply precise insights to turn market complexities into competitive advantages [7]. - The ultimate winners in this rapidly changing market will be those who can accurately determine where to allocate funds and seize the best timing for action [7].

Core Viewpoint - Effective and efficient Customer Due Diligence (CDD) is an essential component of risk management strategies, helping organizations understand customer identities and clarify business partners [1][2]. Summary by Sections What is Customer Due Diligence (CDD) and Its Importance - CDD involves verifying customer data to understand potential risks associated with new or existing clients, significantly reducing the risk of fraud and financial crimes [2]. - Effective CDD should be rigorous and in-depth, going beyond basic checks to create a comprehensive profile of each customer while ensuring a seamless service experience [2]. Common Challenges - Organizations face several common challenges in implementing CDD processes, including: - **Data Challenges**: Incomplete or distorted customer information can hinder thorough CDD [4]. - **Technical Shortcomings**: Manual processes are time-consuming and prone to errors, making timely CDD completion difficult without appropriate technological support [5]. - **Resource Limitations**: Budget and human resource constraints put pressure on compliance teams to efficiently conduct CDD [6]. - **Complex Regulatory Environment**: Keeping up with evolving regulatory requirements adds complexity to CDD processes [7]. Customer Due Diligence Checklist - A checklist is provided to help build an accurate and efficient CDD framework, covering key elements such as: - **Screening**: Identifying potential financial crime threats and ensuring compliance with global regulations [8]. - **Enhanced Due Diligence (EDD)**: Necessary when risks are detected, providing critical information about high-risk business relationships [9]. - **Identity Verification**: Essential for reducing fraud risk and establishing brand trust by verifying the true identity of clients [10]. - **Ongoing Monitoring**: CDD is a continuous process, requiring regular reports to identify suspicious activities and adapt to changing risks [11].

Core Viewpoint - The article discusses the evolving dynamics of the Mortgage-Backed Securities (MBS) market since 2025, influenced by factors such as the Federal Reserve's monetary policy, high interest rates, and the performance of residential RMBS [1]. Group 1: Event Background - The MBS market has been experiencing continuous changes since 2025, driven by multiple factors including the Federal Reserve's monetary policy and the high interest rate environment [1]. - Understanding the dynamics of the Agency RMBS market is crucial for assessing the pressures and opportunities facing MBS demand and refinancing activities in a high-rate environment [1]. Group 2: Event Information - The event is scheduled for September 3, 2025, from 10:00 AM to 11:00 AM, and will be held online via Tencent [2]. - The agenda includes presentations on mortgage market dynamics, MBS trading practices, and an overview of the Yield Book's prepayment model [2]. Group 3: Speakers - Hui Ding, the Head of RMBS Research and Modeling at LSEG, has nearly 20 years of experience in the securitization product industry [6]. - Helen Zhang, the Head of Research Model Development at LSEG, has a background in technology and finance, particularly in securitized products [7]. - Irene Shi, a Senior RMBS Researcher at LSEG, focuses on market research and quantitative modeling related to agency RMBS [8]. Group 4: Yield Book Overview - Yield Book has been a reliable source for fixed income analysis for 35 years, offering extensive features for in-depth security and portfolio analysis [11]. - The platform provides market-leading models and derivative analysis solutions, enabling clients to maintain a competitive edge [16]. Group 5: Applications of Yield Book - Yield Book's data and models assist in identifying interest rate and credit risks, crucial for achieving robust financial performance [18]. - The platform offers deep insights into investment strategies, helping clients efficiently allocate their portfolios [19]. - Yield Book serves as a comprehensive solution for pre-trade and post-trade analysis, ensuring accurate assessments of cash flow engines and prepayment/default models [20].

Core Viewpoint - The article discusses the recent fluctuations in gold prices due to political statements and potential tariffs, highlighting the impact of U.S. monetary policy and the shift towards digital currencies as a means to sustain financial prosperity [2][25][26]. Group 1: Market Reactions and Price Movements - Trump's announcement of a 39% tariff on Swiss gold bars led to a nearly $100 increase in gold prices, but this was later clarified as a misunderstanding, stabilizing the market [2][25]. - Gold prices experienced volatility with a significant drop followed by a rebound, reflecting market uncertainty regarding geopolitical events and U.S. policy [2][25]. - The gold price has accumulated a 28.9% increase year-to-date as of August 5, while silver prices have risen by 31.0% in the same period [7][10]. Group 2: Fund Positions and Market Sentiment - Managed positions in COMEX gold saw a net long position increase of 13.3% to 503 tons, marking the highest level since September 2019 [3][7]. - In contrast, COMEX silver experienced a 29.8% decrease in net long positions, dropping to 4,762 tons, the lowest in 11 weeks [3][7]. - The article notes that palladium has been in a net short position for 135 weeks, indicating a bearish sentiment in that market [8]. Group 3: Economic Indicators and Future Outlook - The article highlights the potential for U.S. interest rate cuts, with a significant probability of maintaining rates in the upcoming Federal Reserve meeting [23]. - The gold-to-North American mining stock ratio fell by 9.3%, indicating a potential divergence between gold prices and mining stocks, which may signal caution for investors [21]. - The gold-silver ratio, a measure of market sentiment, was reported at 88.673, reflecting ongoing high risk awareness in the market [22]. Group 4: Geopolitical and Policy Implications - The article suggests that U.S. policy changes may be aimed at diverting investment from commodities to digital currencies, which are closely tied to the dollar [26]. - The geopolitical landscape is expected to become more complex, particularly with Trump's focus on resolving the Russia-Ukraine conflict, which may have broader implications for global markets [25][26].

Core Viewpoint - The APPEC (Asia Pacific Petroleum Conference) aims to enhance information sharing and cooperation in the Asia-Pacific energy market, focusing on "energy security" and "sustainable development" for the 2025 conference, which will strengthen the region's role in global energy transition [1]. Group 1: Conference Overview - The APPEC has evolved over 40 years into a key platform connecting governments, businesses, and academia, with its discussions often referenced in global energy policy-making [1]. - The 2025 APPEC will feature the "China Energy Futures Seminar" organized by the London Stock Exchange Group (LSEG), focusing on energy derivatives markets and international cooperation [1]. Group 2: Event Details - The seminar is scheduled for September 10, 2025, from 14:00 to 17:00 at LSEG's Singapore office [3]. - The agenda includes a welcome address, discussions on crude oil market challenges and opportunities, and the impact of U.S. tariffs on the Asian petrochemical industry [4][5]. Group 3: Expert Participation - Key speakers include Victor Rubtsov, Emril Jamil, and Sok Peng Chua, who will provide insights on market trends and the implications of geopolitical events on the oil and petrochemical markets [9]. - The seminar will also feature discussions on the opening process of China's futures market and opportunities for foreign investors [6].

Core Insights - The article discusses the opportunities and challenges for Chinese enterprises in overseas mergers and acquisitions (M&A) by 2025, highlighting the significant changes in global trade dynamics and the need for compliance, financing, and transaction structuring considerations [1][5][11]. Group 1: M&A Market Overview - As of June 2025, M&A transactions involving Chinese mainland companies accounted for 13% of the global market share, totaling $252 billion, a 130% increase year-over-year, with transaction numbers up by 13% [6]. - The number of mega-deals (over $5 billion) globally increased by 67% compared to the previous year, while transactions over $1 billion involving Chinese mainland companies surged by 440% [6]. - However, cross-border transactions involving Chinese mainland companies totaled $7.4 billion, a decrease of 32% from the previous year, with Sino-American cross-border M&A down by 30% [6]. Group 2: Regional Insights and Trends - Southeast Asia has seen nearly $500 billion in cross-border M&A over the past decade, primarily in high-tech, finance, and industrial sectors, with Singapore, Indonesia, Vietnam, and Malaysia being popular target countries [6]. - Indonesia is highlighted as a growing market with a young workforce and a projected economy ranking seventh globally by 2030, attracting more companies for investment [12]. Group 3: Risks and Challenges - The article outlines the risks and challenges of entering the Indonesian market, including significant changes in economic trends and industry distributions, particularly in infrastructure and public construction [12]. - Legal considerations for investments in Indonesia are emphasized, including requirements for LLCs and specific industry regulations [12]. Group 4: Strategic Insights - The article notes that Chinese enterprises are increasingly adopting strategies such as nearshoring and brand acquisitions to navigate global tariff challenges, with examples of companies successfully leveraging local production to reduce costs [19]. - The importance of risk management tools is highlighted, with companies utilizing geopolitical due diligence and digital tools to monitor tariff policies and streamline decision-making processes [19].