NEWS RELEASE
For Immediate Release
ISDA Hosts Regional Regulators Workshop
HONG KONG, Thursday, July 21, 2011 – The International Swaps and Derivatives Association, Inc. (ISDA) hosted an Asia Pacific Regulators Workshop in Hong Kong today with supervisors and policymakers from 19 regulatory bodies across the Asia Pacific region. The one-day session, which was a follow-up to the ISDA Asia Pacific Regulators Summit held in May, addressed specific challenges related to the implementation of over-the-counter (OTC) derivatives regulatory reform in the region.
Topics discussed included the current status of central clearing and trade repository developments in Asia Pacific, implications of market-by-market regulatory and infrastructure solutions, and the impact of Financial Stability Board and G20 standards.
ISDA recognizes the importance of central clearing (assuming it is prudently structured and managed) and trade reporting to regulators in improving the safety and transparency of the marketplace. ISDA urges regional regulators to take a coordinated and cooperative approach to ensure that initiatives in these areas are harmonized so that they decrease rather than increase risk.
“ISDA believes that harmonization market structure initiatives is critical to reducing systemic risk and maximizing market efficiency. We are committed to working closely with regulators around the world and in the region to implement solutions that help the market operate safely and efficiently,” said Robert Pickel, Executive Vice Chairman, ISDA.
For More Information, Please Contact:
Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org
Deirdre Leahy, ISDA New York, +1 212 901 6021, dleahy@isda.org
Rose Millburn, ISDA London, +44 203 088 3526, rmillburn@isda.org
Documents (1) for ISDA Hosts Regional Regulators Workshop
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