Tue, Feb 9 to Tue, Mar 9, 2021
Most LIBOR settings are almost certain to cease to exist after the end of 2021, although the most popular US dollar settings are expected to continue until mid-2023. This ISDA Virtual Conference will explore regulatory expectations on new LIBOR use across Asia and describe the upcoming milestones for transition. The event will also set out the steps that Asian firms need to take to shift to alternative reference rates and the implications for their legacy portfolios.
Registration for this event will close 2 hours before the live broadcast on Day 1
This is a 2 Day ISDA Virtual Conference:
- Event will be live on March 17, 2021 from 9:00 AM – 12:10 PM and March 18, 2021 from 9:00 AM – 12:00 PM HKT/SGT | Timezone Converter
- Miss part of the event or aren’t able to watch live? The recording will be available to registrants until April 18, 2021
- Registration for this conference is complimentary.
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Agenda
Back to TopWednesday, March 17, 2021
Print Agenda Benchmark Strategies Forum Asia Pacific forDAY 1
9:00 AM Opening Remarks Scott O’Malia
9:05 AM Welcome Remarks Calvin Tai
9:10 AM Keynote Address Edmond Lau, JP
A senior regulator will describe progress on IBOR transition in the region and set out regulatory expectations in 2021.
Edmond Lau, JP, Senior Executive Director, Hong Kong Monetary Authority9:30 AM Timetable for LIBOR Cessation Ann M. Battle, Christophe Mayol, Andrew Ng, Alvin Teo, Paul Wylie
It now seems certain that all euro, sterling, Swiss franc and yen LIBOR settings and one-week and two-month US dollar LIBOR will cease after the end of 2021, with the remaining US dollar settings ending in mid-2023. What does this mean for transition of legacy LIBOR exposures and execution of new transactions in Asia-Pacific, and how will cessation play out in practice? What approach will the clearing houses take following a cessation announcement?
Moderator: Ann M. Battle, Assistant General Counsel, Head of Benchmark Reform, ISDA
Christophe Mayol, Head, Derivatives Strategies, AIA Investment Management Private Limited
Andrew Ng, ISDA Board Member, Group Executive, Head of Treasury and Markets, DBS Bank
Alvin Teo, Deputy Director, Monetary & Domestic Markets Management Department, Monetary Authority of Singapore
Paul Wylie, Head of Risk Asia-Pacific, LCH
10:20 AM Break
10:30 AM The Regional Approach Jing Gu, Penluk Lothuvachai, Johnson L. Sia
How are central banks and regulators in Asia-Pacific responding to LIBOR transition and what progress has been made to transition local benchmarks linked to US dollar LIBOR? This panel will feature speakers from across the region, who will set out the steps Asia-Pacific authorities, administrators and national risk-free rate working groups are taking.
Moderator: Jing Gu, Head of Legal, Asia Pacific, ISDA
Penluk Lothuvachai, Deputy Director, Financial Markets Department, Bank of Thailand
Johnson L. Sia, Chairman of the BAP OMC Benchmark Committee and Head of Financial Markets - Philippines, ING Bank N.V.
11:20 AM Tackling Cross-currency Swaps John Feeney, Chu Kok Wei, Shinichiro Itozaki, Jacky Mak
What challenges does LIBOR cessation pose for use of cross-currency swaps in the region, and how is the industry responding? Will both legs of the trade ultimately shift to risk-free rates? How will the expected end date of mid-2023 for most US dollar LIBOR settings affect behavior?
Moderator: John Feeney, Partner, Martialis Consulting
Chu Kok Wei, Group Head, Treasury & Markets, Group Wholesale Banking, CIMB Bank Bhd and President, Financial Markets Association Malaysia and Vice Chairman, Asia Securities Industry & Financial Markets Association (ASIFMA)
Shinichiro Itozaki, Senior Manager, Financial Engineering Division, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Jacky Mak, Managing Director, OTC & FIC Business Development, Post Trade, Hong Kong Exchanges and Clearing Limited (HKEX)
12:10 PM Day 1 of Conference Concludes
DAY 2
9:00 AM Welcome Remarks Katherine Tew Darras
9:05 AM Keynote Address Christopher Kent
A senior Reserve Bank of Australia official will discuss progress in benchmark transition and official sector expectations in the Australian market.
Christopher Kent, Assistant Governor, Financial Markets, Reserve Bank of Australia9:25 AM Managing Cash and Derivatives Jing Gu, Andrew Ferguson, Joyce Lai, Atsuya Watanabe
While a growing volume of bonds and some loans have been issued on a global basis that reference risk-free rates compounded in arrears, some issuers have expressed a preference for forward-looking term rates – something various public-/private-sector RFR working groups are exploring. Others have voiced support for alternative rates that incorporate a credit-sensitive component. What approach are bond and loan issuers in Asia-Pacific taking, both in terms of LIBOR transition and contractual fallbacks for LIBOR-linked cash products? What implications does this have for derivatives hedges?
Moderator: Jing Gu, Head of Legal, Asia Pacific, ISDA
Andrew Ferguson, Chief Executive Officer, Asia Pacific Loan Market Association (APLMA)
Joyce Lai, Head of Legal and Compliance-Treasury & Markets, DBS Bank Ltd.
Atsuya Watanabe, Director, Markets and Securities Services, Citigroup Global Markets Japan Inc.
10:15 AM Break
10:25 AM Trading and Liquidity Bihui Ong, Thijs Aaten, William Shek
With less than 12 months to go until most LIBOR settings are expected to disappear, how liquid are the various risk-free rates identified as replacements? Which RFR-linked products are proving popular, and what trading strategies are emerging in the Asia-Pacific region? How are firms managing basis between different rates?
Moderator: Bihui Ong, Executive Director, Treasury & Markets, DBS Bank Ltd.
Thijs Aaten, ISDA Board Member, Chief Finance and Risk Officer, APG Asset Management Asia
William Shek, MD, Head of FX, EM Rates & Commodities, Debt Trading & Financing, ASP, HSBC Global Banking & Markets
11:15 AM Next Steps John Ho, Damian Lobb, Tomoko Morita, Danny Tang, Dennis To
How should firms in the region approach transition in the remaining months of 2021? What are the immediate priorities and remaining challenges relating to IT infrastructure, tax and accounting treatment, regulatory requirements and litigation and conduct risk? What can Asia learn from the experience in the US, Europe and elsewhere?
Moderator: John Ho, Head, Legal, Financial Markets, Standard Chartered Bank
Damian Lobb, Partner, Financial Services, Deloitte China
Tomoko Morita, Senior Director and Head of Tokyo Office, ISDA
Danny Tang, Senior Vice President, OTC & FIC Business Development, Post Trade, Hong Kong Exchanges and Clearing Limited (HKEX)
Dennis To, Regulatory Specialist APAC, Enterprise Solutions, Bloomberg
12:00 PM Conference Concludes
Agenda is subject to change.
Speakers
Back to TopThijs Aaten
ISDA Board Member, Chief Finance and Risk Officer
APG Asset Management Asia
Chu Kok Wei
Group Head, Treasury & Markets, Group Wholesale Banking, CIMB Bank Bhd and President, Financial Markets Association Malaysia and Vice Chairman
Asia Securities Industry & Financial Markets Association (ASIFMA)
John Feeney
Partner
Martialis Consulting
Andrew Ferguson
Chief Executive Officer
Asia Pacific Loan Market Association (APLMA)
John Ho
Head, Legal, Financial Markets
Standard Chartered Bank
Shinichiro Itozaki
Senior Manager, Financial Engineering Division
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Christopher Kent
Assistant Governor, Financial Markets
Reserve Bank of Australia
Joyce Lai
Head of Legal and Compliance-Treasury & Markets
DBS Bank Ltd.
Edmond Lau, JP
Senior Executive Director
Hong Kong Monetary Authority
Damian Lobb
Partner, Financial Services
Deloitte China
Penluk Lothuvachai
Deputy Director, Financial Markets Department
Bank of Thailand
Jacky Mak
Managing Director, OTC & FIC Business Development, Post Trade
Hong Kong Exchanges and Clearing Limited (HKEX)
Christophe Mayol
Head, Derivatives Strategies
AIA Investment Management Private Limited
Andrew Ng
ISDA Board Member, Group Executive, Head of Treasury and Markets
DBS Bank
Bihui Ong
Executive Director, Treasury & Markets
DBS Bank Ltd.
William Shek
MD, Head of FX, EM Rates & Commodities, Debt Trading & Financing, ASP
HSBC Global Banking & Markets
Johnson L. Sia
Chairman of the BAP OMC Benchmark Committee and Head of Financial Markets - Philippines
ING Bank N.V.
Calvin Tai
Interim Chief Executive
Hong Kong Exchanges and Clearing Limited (HKEX)
Danny Tang
Senior Vice President, OTC & FIC Business Development, Post Trade
Hong Kong Exchanges and Clearing Limited (HKEX)
Alvin Teo
Deputy Director, Monetary & Domestic Markets Management Department
Monetary Authority of Singapore
Dennis To
Regulatory Specialist APAC, Enterprise Solutions
Bloomberg
Atsuya Watanabe
Director, Markets and Securities Services
Citigroup Global Markets Japan Inc.
Paul Wylie
Head of Risk Asia-Pacific
LCH
Course Level
Back to TopIntermediate
Contact
Back to TopFollow us on Twitter @isdaconferences for the latest on upcoming events. For general questions, including exhibition/sponsorship opportunities, conference topics or location suggestions contact us: conferences@isda.org | +1 212-901-6000