Asia Risk Congress: Local trade repositories are necessary, says HKMA’s Lee
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
The setting up of multiple domestic trade repositories is necessary to ensure smaller local financial institutions can meet the derivatives reporting requirements agreed by the Group of 20 (G-20) nations, according to Esmond Lee, executive director, financial infrastructure, at the Hong Kong Monetary Authority.
Speaking on the sidelines of the Asia Risk Congress in Hong Kong following his keynote presentation this morning, Lee disagreed with those who argue that market participants should report
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