Asifma: OTC extraterritoriality to boost Asia's capital markets
As part of Asia Risk's 20th anniversary Asifma CEO, Mark Austen, writes about how enforced Asia regulatory co-operation will have long-term benefits
The extraterritorial application of EU and US derivatives regulation, which was designed for a western crisis, exposed the adverse impacts that global reforms can have on nascent capital markets in Asia. There is now widespread recognition that conflicting and duplicative derivatives rules fragment markets, distort competition, and reduce financial market participants' abilities to operate across borders – much to the detriment of Asia-Pacific financial markets.
This created a clear economic and
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