Introduction
Building a stronger ecosystem within Asian Financial Markets
As a consequence of the 2008 global financial crisis, Asian exchanges, clearing agencies and depositories are tasked with the important challenge of managing a dynamic trade and post-trade landscape.
In particular, derivatives markets in the region are seeing greater standardization of products, and an increased reliance on common market infrastructure for trading, clearing and reporting of trades. As these exotic financial instruments move onto exchange traded and centrally cleared spaces, competition is expected to grow between high-volume, low-margin trading platforms.
With a number of new rules being finalized and implemented, ensuring compliance with the regulatory regime is paramount. Yet, what does the future hold in light of the implementation of CPSS-IOSCO’s Principles of Financial Market Infrastructure? Will the evolving regulatory regime lead to regional integration or fragmentation in Asia? How can markets build greater depth and continue to attract liquidity? Is the market infrastructure capable of absorbing a higher share of global savings? Finally, what risks remain on the horizon that can potentially undermine financial markets?
It has become imperative for market players to ensure sustained competitive advantage through superior, reliable and cost-effective services translating into lower-risk, faster execution, and transparent data reporting. The question remains whether the financial market infrastructure in Asia is prepared to deliver these breakthroughs. With different products, investment strategies and trading venues coming into play, the future of financial market infrastructure space in Asia remains opaque. Consensus among market participants and policymakers is definite on the importance of central clearing and need for transparency. Certainly, a great deal of work remains to be done to achieve the overriding objective of a robust financial architecture that promotes balanced and sustainable growth in the region.
Key working sessions and dialogues include:
- Building world class markets in Asia.
- Meeting global regulatory requirements in financial markets infrastructure.
- Assessing Asian financial market integration – where are we and next steps.
- Reviewing the derivatives and foreign currency markets in the region.
- Deepening and expanding the scope and sophistication of collateral management.
- Evaluating critical back office role in operational risk management.
- Exploring high frequency trading and dark pools.
Agenda at a glance
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Who should attend
The program is designed for:
- Senior representatives of regulatory agencies across Asia
- Senior representatives of regional exchanges & trading platforms,
- Heads of compliance at Asian financial institutions,
- Heads and/or senior executives at local clearinghouses,
- Heads and/or senior executives at local CSDs,
- Senior executives and business decision-makers from custodian banks.
Speakers
| Financial Markets Infrastructure Conference Advisors | |
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Paul Chow, ex-CEO, Hong Kong Exchanges and Clearing |
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Thomas McMahon, MD/CEO at UD Trading Group Ltd Pte Thomas McMahon is currently the Director/CEO of UD Trading Group Ltd Pte. He previously served as the CEO of the Singapore Mercantile Exchange (SMX) from 2009 to 2011. Before that Thomas was President, Deputy Chairman at the Hong Kong Mercantile Exchange HKEx from 2007 to 2009. In addition, he served as Director-Asia Vice President Tokyo, Singapore at New York Mercantile Exchange (NYMEX) during 2003-2007. Thomas has also served as Advisor at the Dubai Mercantile Exchange and was Member, Board of Directors, and Chairman of the Natural Gas & Petroleum Advisory Committees a t NYMEX. Thomas has a combined 30 years of experience across U.S. and Asian exchange and regulatory frameworks with a focus on the development of exchange traded and cleared futures and OTC products as well as exchange architecture development. |
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Lieven Van den Brande, ex-CIO, Hong Kong Mercantile Exchange Lieven Van den Brande is a senior financial services industry executive with extensive market infrastructure and banking experience. He is the former chief operating officer of the Hong Kong Mercantile Exchange's (HKMEx) Clearing House Project after having served as its chief information and operations officer. Lieven has spent over 20 years as a strategy and management consultant in the financial services industry, focused on delivering business, risk management, operational and technology advice to select clients. During his tenure in Asia, Lieven developed an excellent understanding of business practices and processes unique to the region. He has an established track record as an accomplished manager, thought leader and people motivator managing complex industry projects amidst competing views. |
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Speakers and Panelists |
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Chong Kim Seng, CEO, Bursa Malaysia Derivatives Chong Kim Seng was appointed as CEO of Bursa Malaysia Derivatives in December 2009. He is a specialist in the trading and management of commodities and has worked extensively in the Asia Pacific region, Middle East, Europe and Africa. Prior to this Chong has held positions as global head of derivatives, Bursa Malaysia, MD of the Joint Asian Derivatives Exchange, and head of global customer solutions for R1 International. Chong was also GM of the Singapore Commodity Exchange from 1993 to 1995 where he oversaw the management and strategic development of the exchange. |
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Chua Kong Khai, Chief Market Operations Officer, Bursa Malaysia Berhad Chua Kong Khai is chief of market operations at Bursa Malaysia, responsible for charting overall business strategies and development plans on market operations for the Bursa Malaysia group of companies in meeting the changing needs of its customers both domestic and overseas. He has been with Bursa Malaysia for more than 20 years. Prior to this, Chua was the head of exchange operations, head of information services business and head of depository. He was instrumental in the setting up of Bursa Depository which has grown by leaps and bounds since its inception in 1992. |
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Tim Thurman, Chief Information Officer, Australian Securities Exchange Tim Thurman is currently chief information officer (CIO) with Australian Securities Exchange (ASX), responsible for providing strategic IT leadership and oversees the development and delivery of IT services and new technologies. Prior to this, Thurman held several senior positions with Credit Suisse Canada, Alpha Trading Systems, TD Securities (Newcrest), TMX Group, and IBM Global Services. He is a senior IT executive with more than 25 years of technical and project management experience in building, deploying and supporting high availability (HA) low-latency financial applications and infrastructure with exchanges, alternative trading systems, and investment banks. |
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Yutaka Imanishi, CEO Asia Pacific, TriOptima Asia Pacific |
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Olivier Grimonpont, General Manager and Regional Head, Euroclear |
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Nick Ronalds, MD Equity Division, Asia Securities Industry and Financial Markets Association Nick Ronalds is MD of Asia Securities Industry and Financial Markets Association’s equity division and works closely with the equity committee. Prior to this, Ronalds was with RhoFinancial working with clients to develop their presence in Asia’s exchange-traded derivatives markets. In the past, Ronalds has held roles with Chicago Mercantile Exchange’s Asia office and ABN AMRO Securities. He negotiated with Japan’s Ministry of Finance for approval of GLOBEX, the first-ever offshore electronic trading system permitted in Japan. |
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Jonathan Woodward, Senior Director, co-Head of AP – Transaction Sales, Thomson Reuters Jonathan Woodward is co-head of the Transaction Sales division in Asia-Pacific responsible for FX trading and post-trade solutions for the interbank, asset management, corporate & broker markets. He joined Thomson Reuters in September 2012, following Thomson Reuters’ acquisition of FXall where he was Head of Asia-Pacific. Prior to joining FXall Woodward held variety of roles in Asian and European business development, product management and sales within Global Link, State Street's multi-asset class e-trading platform including FX Connect. He has also worked for Bridge in Asia managing FX, equity, futures & commercial paper trading and information services. |
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Eli Cohen, Head of Legal (Regulation), Singapore Exchange Eli Cohen is head of legal (Regulation) at the Singapore Exchange, responsible for handling all legal issues related to the company. He also manages SGX’s relationships with all non-Singapore regulators including the European Securities and Market Authority, the US Commodity Futures Trading Commission and the Hong Kong Securities and Futures Commission. Prior to this, Cohen was Asia General Counsel for Euroclear Bank, Hong Kong and Assistant General Counsel for Euroclear SA/NV in Brussels, Belgium. He was also Executive Secretary of the Euroclear Bank Management Committee. |
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Sam Ahmed, Former Sales Head, Collateral Services APAC, Citi Sam Ahmed was formerly with Citi as sales head of collateral management services, Asia Pacific responsible both for originating business around OTC and collateral related services while looking at market and regulatory changes in the OTC derivatives landscape to create relevant solutions. Sam began his career at Westpac, Sydney at the management program following which in 1997 he joined the Lehman Brothers FX trading desk. In 2005, Sam moved on to Merril Lynch, Japan where he headed several trading desks support teams ranging from fx, credit and rates. His experience has brought him a strong understanding of Asian market practices, financial products, collateral and regulatory practice. |
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Noritaka Akamatsu, Deputy Head, Office of Regional Economic Integration, Asian Development Bank Noritaka Akamatsu is deputy head of the office of regional economic integration (OREI) at Asian Development Bank (ADB), joining them in March 2009. He concurrently serves as chair of financial sector community of practice to lead ADB-wide financial sector operations. At OREI, he leads projects supporting financial cooperation and integration initiatives of ASEAN+3 including the Asian Bond Market Initiative. He also serves as co-chair of the steering committee for capacity building of the ASEAN central bank forum as part of the effort of ASEAN economic community 2015. Prior to this, Akamatsu also worked with World Bank and Nomura Research Institute. |
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Shunichiro Unno, Director of Information Services, Tokyo Stock Exchange Shunichiro Unno is currently the Director of Information Services at the Tokyo Stock Exchange – one of Asia’s largest exchanges. Earlier he was Director of Post-trade Services at Japan Securities Depository Center (JASDEC). Shunichiro has close to 30 years of experience in Japan’s securities industry, having joined the Tokyo Stock Exchange in 1986. He also served at Japan’s Ministry of Finance, where he was incharge of international affairs. In addition, Shunichiro was a member of the ISO20022 Securities Standards Evaluation Group. |
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Philip York, Director, Alt224 Group & eTrading Association Philip York is a director and CEO of the Alt224 Group, a specialist advisor in the Pure Alpha space. He is also a Director of the eTrading Association, a professional advocacy group focused improving communication and consensus with the finance industry and its regulators. York has been involved in the quantitative trading of derivatives and equity for over 25 years. In 1992, York commenced trading Managed Accounts, forming his first hedge fund in 1996 before selling his business in 2004. Through the 90’s he also set up a financial software business building, amongst other things, electronic exchange interfaces. Through to 2007 York formed and oversaw the operations of an FX cash and derivatives business (which included automated market-making), and in 2008 reacquired his funds management business to move back to his specialty of fully automated quantitative trading of the global markets. |
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Matthew Chan, Director, Enterprise and Strategic Planning, APAC Omgeo Matthew Chan is enterprise and strategic planning director for Omgeo. Besides corporate strategy and industry relations, Chan manages key strategy projects and has recently been working on the consolidation of DTCC and Omgeo's combined corporate strategy. Prior to Omgeo, Chan was departmental business and policy advisor to the Australian federal minister for finance from 1999 to 2001 before moving back to the private sector to work in corporate planning and strategy at PepsiCo International and Cadbury Schweppes. |
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Caleb Gibbons, Director, Global Fixed Income Division, The Bank of Nova Scotia Caleb Gibbons recently joined The Bank of Nova Scotia Asia Limited, based in Singapore as a director in the global fixed income division. Gibbons 20-year career has given him extensive experience in global capital markets, working in a variety of centres (Toronto, Singapore, Tokyo & New York), with a focus on the fixed income derivatives markets. He was most recently in a PM-fixed Income role in New York, prior to returning to Asia in 2013. Gibbons holds both the CFA and FRM charters, and volunteers with PRMIA as a subject matter expert on OTC derivative counterparty risk (SME Advisory Group). |
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Alex Medana, Director, Securities Markets, Asia Pacific, SWIFT Alex Medana is director for securities markets of the Asia Pacific region at SWIFT, responsible for the post-trade strategy to drive the adoption of secure, resilient and cost-effective automation across asset classes and counterparties. He also plays a key role in promoting and supporting renminbi internationalisation within the global securities community. He has more than 15 years’ experience in the securities industry in various key roles in client services, middle office, settlements and project management. Prior to joining SWIFT Medana was regional head of client services for cash equities, prime brokerage and equities derivatives at Deutsche Bank. |
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Usama DeLorenzo, Director, Asia Policy & Advocacy, SWIFT Usama DeLorenzo is ASEAN director for SWIFT in Asia Pacific, responsible for coordinating support to member states in their goal of realising an integrated financial system through various initiatives towards the envisioned ASEAN Economic Community. Prior to joining SWIFT, he held positions either directly or in a consultant’s capacity related to IT and finance, including with Northrop Grumman, Nextel, Saturna Capital, Bank Vontobel, Baer Capital Partners, Kuwait Turkish Participation Bank, Oppenheimer, Dow Jones, Securities Commission Malaysia and the US Central Geospatial Intelligence Agency. |
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Kaz Kempers Kaz Kempers joined ABN AMRO Clearing in 2010 as head of IT Hong Kong, responsible for the technical infrastructure both for clearing as well as market access. Starting his career at a clearing company in Holland 15 years ago, he has come full circle after being tied to the industry in various roles. He has worked as an independent contractor handling various projects for market makers including setting up dealing rooms and monitoring systems. Finally, he ended up in Hong Kong as the IT manager Asia for a global market maker, setting up and managing offices in Hong Kong and China and taking responsibility for the trading and development infrastructure in four different countries. |
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