Hong Kong
House of the Year, Hong Kong – HSBC
Asia Risk awards 2013 winner: HSBC – House of the Year, Hong Kong
Hong Kong lags on Esma equivalence
Esma unable to grant equivalence on Hong Kong's OTC clearing regime as framework is not yet in place
Best in Hong Kong: Credit Suisse
Best in Hong Kong
Foreign exchange house of the year: Société Générale
Foreign exchange house of the year
Commodities house of the year: Commerzbank
Commodities house of the year
Dual reporting requirements in Asia cause concern
While Singapore will mandate single-sided trade reporting, regulators in Australia and Hong Kong will follow the European Union’s requirement for dual reporting, leading to concerns among market participants
Asia slow to sign up to IGAs for Fatca implementation
US makes slow progress in signing up Asian states for Fatca IGAs
Expectation of US rates rise moves USD/CNH currency basis
Exit of "tourist money" from Asia provides more attractive funding options for firms swapping CNH into USD
Citi loses pan-Asian head of equity derivative and convertible sales
Nick Smith appointed as replacement
Extraterritorial EU legislation likely to be ‘particularly onerous’ on Asia – Asifma
Extraterritorial aspects of European legislation such as Emir likely to be keenly felt by Asian firms, says Asifma
Demand for Topix options gives dealers hedging headache
Institutional demand for Topix options outweighs supply and is creating basis risk for dealers hedging their positions
Drop in Hong Kong Prada share volume highlights dangers of transaction taxes
Daily turnover in Prada shares listed on Hong Kong Exchange has dropped by over 30% since introduction of Italian financial transaction tax two months ago
Lack of co-ordination of bank resolution regimes behind subsidiarisation push
Asia still behind on global rules forcing subsidiarisation of foreign banks in the region
Mandatory clearing in Hong Kong postponed until January
Banks will have a six-month grace period before they must finally start clearing by July 2014
CNH Hibor fixing to spur interest rate swap market
Launch of the CNH Hibor to lead to an increase in CNH loans and hedging instruments such as floating rate notes and interest rate swaps
Singapore set to be RMB gateway to Asean region
Trade lines
Credit Suisse’s head of Asia equity derivatives sales retires
Min Park, regional head of equity derivatives and convertibles sales, is retiring from his role at Credit Suisse
Asia corporates unfairly ‘penalised’ by CVA capital charge
The move by European authorities to exempt European banks from holding CVA capital should be matched by regulators in Asia, according to senior bankers in the region
Higher Basel III pricing deters Asian banks from issuing new Tier II capital
Banks issued debt before the end-of-2012 deadline for Basel II capital, lessening their refinancing requirements for this year
Rise in CCPs may spur collateral fragmentation
Currency controls
Central clearing obligations cause collateral headaches in Asia
Collateral thinking
China shows signs that it is moving towards opening to hedge funds
China is showing encouraging signs that it is willing to open its market to foreign investors and funds. Hedge funds are still excluded from the market but steps are being taken in the right direction.