‘No way’ Asia can meet CCP deadline; probably the same for Europe
Panellists speaking at a derivatives industry event in Hong Kong believe Asia is unlikely to meet its obligations to have full mandatory clearing in 14 months – the deadline established in the 2009 G-20 agreement. They say a lack of regulatory clarity is holding back local buy-in
Asian financial institutions and asset managers are unlikely to fulfil a G-20 deadline to move over-the-counter derivatives activities onto central counterparty (CCP) clearing by the end of 2012. "From an Asian perspective there's still a lot of work to be done," said James Pike, regional head of derivatives operations at Morgan Stanley, who was speaking at the 2011 Isda Annual Asia-Pacific Conference on October 25 in Hong Kong. "There is no way we [the industry] will make the 2012 deadline."
Pi
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