ASIA-PACIFIC REGIONAL COMMITTEES
ISDA’s Asia-Pacific Offices in Hong Kong and Singapore cater for members based in the Asia-Pacific region (excluding Japan). Generally, but not exclusively, attention is focused on members active in Australia, Hong Kong, India, Indonesia, Malaysia, New Zealand, People’s Republic of China, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
In addition to participating in any of ISDA’s global committees (see: http://www2.isda.org/committees/), members of ISDA based in the Asia-Pacific region are encouraged to address any regulatory, legal, market practice, and accounting issues that arise within the region through the following committees:
The Asia Pacific Commodity Committee meets quarterly to discuss issues related to documentation developments for commodities and developing products, as well as operations and other topical issues in that space. The committee comprises documentation and operations practitioners and also focuses on educational efforts for practitioners on commodities and other developing products.CDS Coupon Standardization Working Group
This working group provides a platform for members to address the topic of standardizing coupons of Credit Default Swap transactions, including setting the most common coupon level and other trading practices. Due to the geographical spread of the APAC region, the Coupon Standardization Working Group is divided further into two groups.
The Asia-Pacific Legal and Regulatory (“L&R”) Committee consists mainly of legal professionals. The L&R Committee discusses proposed changes to ISDA current Documentation library. In addition, the group monitors laws and regulations affecting members and/or derivatives markets in the Asia-Pacific region. As appropriate, ISDA will draw on members of the L&R Committee to draft submission letters to regulators on topical matters. Currently, there are two committees - the North Asia based L&R Committee meets on the last Tuesday of each month and the South Asia based L&R Committee meets on the last Thursday of each month.
The Asia-Pacific Risk Management Committee consists mainly of risk practitioners. Committee members receive a selection of regional updates and topical information related to ISDA’s Risk Management activities. This adds to the information made available to members of ISDA's global Risk Management Committee, which mostly follows developments in Europe and North America. The Asia-Pacific Risk Management Committee serves as a forum for regionally based members to discuss issues related to the impending Basel II Accord and also focuses on educational efforts within the Asia-Pacific region.
The Asia-Pacific Steering Committee consists mainly of front office and business people. The Steering Committee aims to address market practice and business matters of topical concern and also determines the overall strategy and direction of ISDA’s activities in the Asia-Pacific region. The Committee reviews issues of general concern to ISDA’s Asia-Pacific based members and addresses these issues with the respective regulators or other organizations, where applicable.
Due to regular interest and efforts in a number of key jurisdictions ISDA has set up Working Groups specific to these jurisdictions. The Working Groups address business and regulatory issues of importance to ISDA members active in this region. In view of enacted legislation and further regulatory initiatives, there are increased efforts in the region to address topical issues promptly and effectively. The focus of these Working Groups is on interacting with local regulators, members and other relevant market participants to familiarize them with ISDA, its documentation, global practices and other relevant matters through discussions, written submissions, meetings and seminars.
Some recent issues discussed by the above Committees:
For more information on ISDA conferences, please visit our website http://www2.isda.org/conference/.