| ASIA-PACIFIC
REGIONAL COMMITTEES
ISDA’s Asia-Pacific Offices in Hong Kong and Singapore cater for
members based in the Asia-Pacific region (excluding Japan). Generally,
but not exclusively, attention is focused on members active in Australia,
Hong Kong, India, Indonesia, Malaysia, New Zealand, People’s Republic
of China, Pakistan, Philippines, Singapore, South Korea, Taiwan, Thailand
and Vietnam.
In addition to participating in any of ISDA’s global committees
(see: www.isda.org/c_and_a/ca_nav.html),
members of ISDA based in the Asia-Pacific region are encouraged to address
any regulatory, legal, market practice, and accounting issues that arise
within the region through the following committees:
Asia-Pacific Collateral
Committee
The Asia-Pacific Collateral Committee focuses on policy
issues in relation to the increasingly widespread use of collateral as
a credit risk management tool in connection with privately negotiated
derivatives. The goal of the Asia-Pacific Collateral Committee is to promote
the use of collateralization to identify and resolve problems in collateral
management that may be specific to the region and to discuss market practice
in regard to collateral practices.
The Asia-Pacific Collateral Committee consists of active members based
in the Asia-Pacific region.
Asia-Pacific Commodity Committee
The Asia Pacific Commodity Committee meets quarterly to discuss issues
related to documentation developments for commodities and developing products,
as well as operations and other topical issues in that space. The committee
comprises documentation and operations practitioners and also focuses
on educational efforts for practitioners on commodities and other developing
products.
Asia-Pacific Credit Derivatives Committee
The Asia-Pacific Credit Derivatives Committee meets to discuss the use
of ISDA’s credit derivatives documentation in the region and to
consider local practices to the extent they are similar or different from
business practices elsewhere. There has been some suggestion that further
locally tailored credit derivatives documentation should be developed.
The Asia-Pacific Credit Derivatives Committee is co-chaired as follows:
- Asia-Pacific Credit Derivatives Committee - Hong Kong
Co-Chair: David Cummins, Senior Counsel, Lehman Brothers
Asia-Pacific Legal and Regulatory
Committee
The Asia-Pacific Legal and Regulatory (“L&R”)
Committee consists mainly of legal professionals. The L&R Committee
discusses proposed changes to ISDA current Documentation library. In addition,
the group monitors laws and regulations affecting members and/or derivatives
markets in the Asia-Pacific region. As appropriate, ISDA will draw on
members of the L&R Committee to draft submission letters to regulators
on topical matters. Currently, there are two committees - the Hong Kong
based L&R Committee meets on the last Tuesday of each month and the
Singapore based L&R Committee meets on the last Thursday of each month.
The Asia-Pacific Legal and Regulatory Committee is co-chaired
as follows:
- Asia-Pacific Legal and Regulatory Committee - Hong Kong
Co-Chair: Tricia Bowden, Managing Director and Senior Counsel, Goldman
Sachs (Japan) Ltd.
- Asia-Pacific Legal and Regulatory Committee - Singapore
Co-Chair: Akash Mohapatra, Director and Senior Legal Counsel, Deutsche
Bank AG
- Asia Ex Japan Equity Working Group
The Asia Ex Japan Equity Working Group seeks to address documentation
projects specific to the Equity Derivatives space. The Working Group
meets regularly as and when specific projects are considered. For
details, see Equity Documentation Projects.
Asia-Pacific Operations
Committee
The Asia-Pacific Operations Committee focuses on back-office
related issues, such as confirmation processing, automation, the use of
ISDA Definitions and other operational issues surrounding new products.
This committee is a subgroup of the ISDA's global Operations
Committee and follows the developments in Europe and North America.
The Asia-Pacific Operations Committee serves as a platform for Asia-Pacific
members to discuss regional issues and also focuses on educational efforts
within the Asia-Pacific region.
The Asia-Pacific Operations Committee is co-chaired
as follows:
- Asia-Pacific Operations Committee - Hong Kong
Co-Chair: Mandy Chan, Senior Manager, Structured Rates, Credit and
FX Derivatives Operations, The Hong Kong and Shanghai Banking Corporation
Limited
- Asia-Pacific Operations Committee - Singapore
Co-Chair: Sheila Thangavelu, Executive Director, Operations, Morgan
Stanley Dean Witter Asia (Singapore) Pte
- Asia-Pacific FpML Working Group
The Asia Pacific Financial products Mark-up Language (“FpML”)
Working Group consists of mainly operations professionals. This
working group aims at promoting the awareness of FpML and encourages
more institutions to automate their operation and settlement process
by using FpML. See also: http://www.fpml.org
Asia-Pacific Risk Management
Committee
The Asia-Pacific Risk Management Committee consists mainly of risk practitioners.
Committee members receive a selection of regional updates and topical
information related to ISDA’s Risk Management activities. This adds
to the information made available to members of ISDA's global Risk
Management Committee, which mostly follows developments in Europe
and North America. The Asia-Pacific Risk Management Committee serves as
a forum for regionally based members to discuss issues related to the
impending Basel II Accord
and also focuses on educational efforts within the Asia-Pacific region.
Asia-Pacific
Steering Committee
The Asia-Pacific Steering Committee consists mainly
of front office and business people. The Steering Committee aims to address
market practice and business matters of topical concern and also determines
the overall strategy and direction of ISDA’s activities in the Asia-Pacific
region. The Committee reviews issues of general concern to ISDA’s
Asia-Pacific based members and addresses these issues with the respective
regulators or other organizations, where applicable.
Country Specific Working
Groups in Asia
Due to regular interest and efforts in a number of key
jurisdictions ISDA has set up Working Groups specific to these jurisdictions.
The Working Groups address business and regulatory issues of importance
to ISDA members active in this region. In view of enacted legislation
and further regulatory initiatives, there are increased efforts in the
region to address topical issues promptly and effectively. The focus of
these Working Groups is on interacting with local regulators, members
and other relevant market participants to familiarize them with ISDA,
its documentation, global practices and other relevant matters through
discussions, written submissions, meetings and seminars.
- Asia-Pacific - India Working Group
- Asia-Pacific - Korea Working Group
- Asia-Pacific - PRC Working Group
Some recent issues discussed by the above Committees:
- PRC focus has been on promoting the need for close-out netting to
be enforceable. In addition, ISDA has engaged in the development
of a bridge agreement to resolve uncertainty between two local language
Master Agreements.
- Measures by Reserve Bank of India and Securities and Exchange Board
of India to support the growth of the OTC markets in India.
- Impact of South Korea’s new and improved bankruptcy legislation
and regional documentation developments.
- Discussions with Bank Negara to enhance legal certainty as it relates
to close-out netting in Malaysia.
- Hong Kong Dollar (HKD)
ISDAFIX rate published daily on Reuters
- Local language documents provided by ISDA for educational purposes:
- 2002 ISDA Master Agreement – Simplified
/ Traditional
Chinese / Korean
- ISDA
Glossary of Collateral Terms - Chinese Translation
- Chinese Translation of Changes between 2000 and 2006 Definitions
Summary
of Changes in ISDA 2006 Definitions (Chinese)
Introduction
to ISDA 2006 Definitions (Chinese)
- Member interest in Shariah law compliant derivatives documentation.
- Use of collateral arrangements in Asian jurisdictions.
- Enforceability of close-out netting in the Asia-Pacific region.
- Developments on ISDA Documentation.
- Implementation of new Basel Accord in the Asia-Pacific region.
2002 – 2007 Conferences
and Seminars in the Asia-Pacific region:
2008 Conferences and Seminars in the Asia-Pacific region (schedule
subject to change):
Date |
Events |
Tuesday,
22nd January |
Fundamentals of Derivatives Seminar
Venue: Conrad International, Hong Kong |
Wednesday,
23rd January |
Understanding the ISDA Master Agreements Conference
Venue: Conrad International, Hong Kong |
Monday,
10th March |
Fundamentals of Derivatives Seminar
Venue: Marina Mandarin, Singapore |
Tuesday,
11th March |
Understanding the ISDA Master Agreements Conference
Venue: Marina Mandarin, Singapore |
Thursday,
13th March |
Fundamentals of Equity Derivatives Seminar
Venue: Pacific Place Conference Center, Hong Kong |
Friday,
14th March |
Documenting and Confirming Equity Derivative Transactions
Conference: The Equity Derivatives Specialist
Venue: Pacific Place Conference Center, Hong Kong |
Monday,
17th March |
Documenting and Confirming Equity Derivative Transactions
Conference: The Equity Derivatives Specialist
Venue: The Westin, Sydney, Australia |
Tuesday,
20th May
|
Understanding the ISDA
Master Agreements Conference
Venue: The Westin, Sydney, Australia |
Wednesday,
21st May
|
Critical Legal Issues to Support Risk Management and
Collateral Arrangement in OTC Derivatives Contracts Seminar
Venue: Intercontinental Beijing Financial Street, Beijing, China |
Monday,
9th June |
Introduction to Operations Training Course
Venue: Marina Mandarin, Singapore
|
Wednesday,
11th June |
Fundamentals of Derivatives Seminar
Venue: Shangri-La, Kuala Lumpur, Malaysia |
Thursday,
12th June |
Understanding the ISDA Master Agreements Conference
Venue: Shangri-La, Kuala Lumpur, Malaysia
|
Tuesday,
24th June |
Fundamentals of Derivatives Seminar
Venue: Grand Formosa Regent, Taipei, Taiwan |
Wednesday,
25th June |
Understanding the ISDA Master Agreements Conference
Venue: Grand Formosa Regent, Taipei, Taiwan
|
Tuesday,
8th July |
Fundamentals of Derivatives Seminar
Venue: Grand Hyatt, Shanghai, China
|
Wednesday,
9th July |
Understanding the ISDA Master Agreements Conference
Venue: Grand Hyatt, Shanghai, China
|
Thursday,
5th August |
Fundamentals of Commodity Derivatives Seminar
Venue: Singapore |
Wednesday,
6th August |
Credit Derivatives Conference
Venue: Singapore
|
Wednesday,
10th September |
Fundamentals of Derivatives Seminar
Venue: Beijing, China
|
Thursday,
11th September |
ISDA Documentation Conference
Venue: Beijing, China |
Thursday,
16th October |
Regional Conference
Venue: Sydney, Australia |
Friday,
17th October |
Operations Training Course
Venue: Sydney, Australia |
Monday,
20th October |
Fundamentals of Derivatives Seminar
Venue: Conrad International, Hong Kong |
Tuesday,
21st October |
Understanding the ISDA Master Agreements Conference
Venue: Conrad International, Hong Kong |
Tuesday,
25th November |
Fundamentals of Derivatives Seminar
Venue: Singapore |
Wednesday,
26th November |
Understanding the ISDA Master Agreements Conference
Venue: Singapore
|
Tuesday,
9th December |
Fundamentals of Derivatives Seminar
Venue: Mumbai, India |
Wednesday,
10th December |
Understanding the ISDA Master Agreements Conference
Venue: Mumbai, India
|
| For more information on
ISDA conferences, please click here.
If you are interested in receiving further information
or registering for any of these committees, please contact ISDA’s
Office in Singapore (Telephone: (65) 6538 3879; Fax: (65) 6538 6942;
Email: isdaap@isda.org) |
|