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"OTC derivatives are and will remain vital risk management and hedging tools for corporations, investment managers, governments and financial institutions in the region and around the world”, said Stephen O’Connor, ISDA Chairman and Managing Director at Morgan Stanley. “ISDA is committed to ensuring market participants continue to realise the benefits of OTC derivatives by working with them and global policyholders to build safe, efficient markets.”
Over 700 attendees are expected at ISDA’s 28th AGM, drawn from the Association’s more than 800 members around the world. This includes members from 12 countries in the Asia-Pacific region: China, Hong Kong, India, Indonesia, Kazakhstan, Korea, Malaysia, Pakistan, Philippines, Singapore, Taiwan and Thailand. In addition, ISDA has offices in Hong Kong, Singapore and Tokyo. This is ISDA’s second AGM in Singapore, the first being in 2006. Other recent ISDA AGM venues in the region include Beijing in 2009 and Tokyo in 2003.
“With approximately 10 per cent of ISDA’s global membership headquartered in the Asia-Pacific region, our presence in Asia is substantial and it continues to grow”, said Robert Pickel, ISDA Chief Executive Officer. “Initially, our focus in Asia meant Board representation from Japan, active committees in the region and regulatory outreach. Now, we have had Board members from Hong Kong, Singapore, China and Australia and established offices throughout the region.”
The Celent report issued by ISDA at the AGM analyses the size and scope of the Asia OTC derivatives markets (Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Singapore, South Korea and Taiwan). The report also discusses the steps taken by these countries to respond to global calls to reform the OTC derivatives segment.