Banks and financial services firms in Asia continue to struggle as they seek to adapt to a rapidly changing – and ever more stringent – global regulatory environment designed to improve transparency of transactions and reduce systemic risks in the financial markerts. In this section, you will see the latest news, analysis, market insights and best practices in managing financial risk, regulations and trading.
The importance of uncleared margin rules (UMR) was brought sharply into view by the collapse of Archegos Capital Management at the end of March, resulting in more than $10 billion in losses at several prime brokers. IHS Markit considers how partnerships with third parties can help buy-side firms in Asia prepare for the new rules.
For financial services, compliance is as inevitable as death and taxes. But with compliance costs spiraling amid intensifying competition, banks are finding themselves increasingly squeezed. How can banks effectively and efficiently navigate the shifting compliance landscape? These four best practices can help banks enhance the efficiency and effectiveness of their next compliance project.
One major problem to tackle in the transition from LIBOR to alternative reference rates (ARRs) such as SOFR, €STR and SONIA (which are also referred to as risk-free rates, or RFRs) is how to handle legacy LIBOR positions when LIBOR is no longer published. It is fundamentally a challenging issue. While LIBOR is a credit-sensitive rate, the new risk-free ARRs such as SOFR are risk-free rates without a credit component. However, with the ISDA Fallbacks Protocol the problem is largely resolved. Or is it?
Previously, he was the firm's global head of Pricing and
Reference Data, an award-winning set of services providing
independent pricing and market data to help financial institutions
manage risk and operations effectively. As a senior leader, Mr.
Tran has been involved in multiple acquisitions in the IHS Markit
pricing, indices and loans businesses. He had joined Markit in 2005
to run North American credit operations and build the firm's
comprehensive services for the syndicated loan market. He started
his career as a fixed income analyst at BlackRock. Mr. Tran
graduated magna cum laude with a degree in economics and business
management from Binghamton University in New York, United
Sage Patel has been with IHS Markit since 2011, starting with the legacy Markit entity. Prior to joining Markit, Sage was responsible for Pricing and Valuations at Fitch Solutions. He spent a portion of his career at tier-one investment banks, starting at Salomon Brothers then Citi Global Markets, Bank of America N.A and RBC Capital Markets across Fixed income Trading, Product Management and Product Development functions across London, New York and Toronto.Over the last 9 years, Sage has been driving IHS Markit's expansion into the APAC Fixed Income markets, more recently expanding his responsibilities into IHS Markit's Derivatives business providing solutions addressing challenges and market reforms faced by our customers in today's ever-changing regulatory landscape.
He is responsible for the franchise across Asia Pacific, including
all expansion into China and India. Mr. Chesser joined the firm in
2012 from Fidelity International, where he was COO for Fixed Income
based in London. He was the Accountable Executive for a major
technology re-stack including risk management and trading. He
worked at J.P. Morgan from 1997 to 2002 in London, New York and
Milan and was co-head of fixed income operations from 2000. Mr.
Julian Chesser holds an LLB from the University of Warwick, UK, and
completed his bar finals in London.
Mr. Allen is a member of the global benchmark reform program at
IHS Markit and is also Global Head of Term Risk Free Rates
(TRFR).Previously, he served as Head of Financial Markets APAC and was
responsible for leading and growing the IHS Markit Financial
Markets business across Asia-Pacific. Mr. Allen has an accounting
and OTC derivatives background and has worked extensively on
regulatory impact to develop innovative products to meet regulatory
change. He has over 20 years experience in the financial services
industry covering cash, derivatives and alternative assets markets
across a variety of roles. Mr. Allen has worked in London,
Singapore and currently based in Sydney and spent the last decade
focusing on Asia-Pacific market development.
With more than fifteen years of experience in the capital
markets Operations and Processing space, he partners with
regulators, industry associations, banks and asset managers to
develop innovative solutions for the industry to meet regulatory
challenges. He focuses on the OTC derivatives regulatory reforms
and he is based in our Singapore office.Mr. Baudez joined IHS Markit in 2017 from J.P. Morgan where he
was the Asia Trade Repositories lead for Markets Control Office
based in Singapore. He began his career as a consultant for
PricewaterhouseCoopers in Paris and later worked for Societe
Generale in Singapore as a project manager within Capital Markets
Operations.Mr. Baudez holds a Master's degree in Computer Networks and
Telecommunications from ESIEE Amiens and a specialized Master in
Management of Information Systems from HEC Paris.
Mr. Nishimura is Head of MarkitSERV Japan where he is in charge
of its derivatives and FX trade processing business. MarkitSERV
provides multi asset class platforms, such as MarkitWire, for the
management of trade confirmation, clearing, and regulatory
reporting.Prior to joining IHS Markit in 2016, Mr. Nishimura was a deputy
director of JFSA, where he participated in the committees and
working groups under IOSCO and FSB as a representative of JFSA.
Before joining JFSA, Mr. Nishimura was Head of TriOptima Japan
where he was responsible mainly for commercial strategy and
partnerships to expand the firm's compression and reconciliation
services for OTC derivatives in Japan. Mr. Nishimura also has a
variety of experiences in relation to OTC derivatives and cash
products in Nomura and a couple of buyside firms in his career.Mr. Nishimura holds a B.Sc. from The University of Tokyo and a
M.Sc. from MIT Sloan School of Management.