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Asia Securities Industry & Financial Markets Association

Developing Capital Markets for Asia

ASIFMA's mission is to promote the development of liquid, deep and broad capital markets in Asia, which is fundamental to its economic development and growth.

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ASIFMA’s Mission

ASIFMA is an independent, regional trade association comprising a diverse range of over 90 leading financial institutions from both the buy and sell side, including banks, asset managers, law firms and market infrastructure service providers.

Together, we harness the shared interests of the financial industry to promote the development of liquid, deep and broad capital markets in Asia.

ASIFMA advocates stable, competitive and efficient Asian capital markets that are necessary to support the region’s economic growth.

We drive consensus, advocate solutions and effect change around key issues through the collective strength and clarity of one industry voice. Our many initiatives include consultations with regulators and exchanges, development of uniform industry standards, advocacy for enhanced markets through policy papers, and lowering the cost of doing business in the region.

Through the GFMA alliance with SIFMA in the US and AFME in Europe, ASIFMA also provides insights on global best practices and standards to benefit the region.

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About ASIFMA

ASIFMA membership is open to all participants in Asian capital markets, approval of the Board.

Being a member of ASIFMA enables an organization to regionally and globally:

• Impact industry issues through one collective voice

• Advocate better regulation more effectively

• Be at the cutting edge of policy development

• Get the latest regulatory reform information

• Shape development of best practices and standardization

• Drive business growth

• Lower costs and improve efficiencies

• Access a professional community and network

• Benefit from industry-specific events and conferences

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Why Join ASIFMA?

ASIFMA operates as an independent regional organization with global integration through membership in GFMA with global alliance partners AFME in London and Brussels and SIFMA in New York and Washington, DC. • AFME in Europe – The Association for Financial Markets in Europe advocates

stable, competitive, sustainable European financial markets that support economic growth and benefit society.

• SIFMA in North America – The Securities Industry and Financial Markets Association in the US develops policies and practices to strengthen financial markets and encourage capital availability, job creation, and economic growth while also building trust and confidence in the financial industry.

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Global Alliance

Vice Chairman Andrew Ng Group Executive, Head of Treasury Markets, DBS

Chief Executive Officer Mark Austen Active member of the board of the Global Financial Markets Association (GFMA) where he represents the Asian perspective on global regulatory issues

Treasurer Jenniffer Emanuel COO Securities Division, Goldman Sachs

ASIFMA is led by a board of directors comprising more than 30 senior representatives from major global financial institutions.

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ASIFMA Leadership

Ajai M. Kaul AllianceBernstein Chief Executive Officer, Asia ex-Japan

Matthew Long ANZ Head of Equities, Global Markets, Asia Pacific, Europe and America

Tzu Ping Tan Bank of America Merrill Lynch Head of FICC Corporate Origination, Asia Pacific Global Markets

Xiaojing Li* Bank of China Limited President of Financial Markets Department

Francis Braeckevelt Bank of New York Mellon Interim CEO Asia Asset Servicing, Asia Pacific

John Laws Barclays Capital Head of Regulatory Relations, Asia Pacific

Nitin Jaiswal Bloomberg Head of Sales, ASEAN

Marc Pelet BNP Paribas Head of IRFX Trading Asia-Pacific (excluding Japan)

Zhou Jiaxing China International Capital Corporation Managing Director & Head of Legal Department

Kok Wei Chu CIMB Senior Managing Director and Group Head, Treasury & Markets

David Binder Citi CAO, Managing Director

Myles Baxter CLSA Limited Head of Compliance

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ASIFMA Board of Directors

*Executive Committee Member

Nick Johnston Commerzbank AG Managing Director / Head of Corporates & Markets Asia

Pierre Lafon Credit Agricole Regional COO, Asia Pacific

Brian Yoon Credit Suisse Managing Director, Fixed Income, Emerging Markets Trading, Asia Pacific

Vinay Pampapathi Daiwa Capital Markets Hong Kong Business Manager, Equities

DBS Bank Andrew Ng* Group Executive, Head of Treasury Markets

David Lynne* Deutsche Bank Managing Director, Head of Fixed Income and Currencies, Asia Pacific

Sing Chan Ng Fitch Ratings Managing Director, Head of Asia Pacific Business Origination

Natalia Watkins* HSBC Managing Director, Head of Regulatory Change, Asia Pacific, Global Markets

Marie C. Patton ICAP Senior Vice President, Product Development, Asia Pacific

Remko Witteveen ING Bank Head of Financial Markets, Asia

Filippo Gori* J.P.Morgan Head of Sales & Marketing, Markets & Investor Services, Asia

Mark Weekes Macquarie Bank Managing Director, Head of Execution Services, Asia

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ASIFMA Board of Directors

*Executive Committee Member

Norifumi Akiyama Mizuho Securities Asia President & CEO

Yasutaka Suehiro Mitsubishi UFJ Securities (HK) CEO

Min Ye Moody's Asia Pacific Managing Director, Regional Head Asia Pacific

Fred Clatworthy Morgan Stanley COO of IED Asia and COO for Asia Equity Trading

Jessica Tilton National Australia Bank Head of Markets, Asia

John Baker* Nomura CAO Asia, Ex-Japan

Kirk West Principal Global Investors Executive Director, International Offices, CEO Asia

Lieven Debruyne Schroders Chief Executive Officer, Hong Kong/China, Head of Intermediary Business, Asia Pacific

Kenneth Bentsen* SIFMA President & CEO

Guillaume Depauw* Société Générale Chief Operating Officer, Asia Pacific, Global Markets

Marcella Chan Standard Chartered Head, Debt Capital Markets Transaction Management

Denis O’Sullivan Standard & Poor’s Head of Sales, Asia-Pacific

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ASIFMA Board of Directors

*Executive Committee Member

Hon Cheung State Street Regional Director, Asia-Pacific, Official Institutions Group

Sanjeev Chatrath Thomson Reuters Managing Director, Region Head, Asia Financial & Risk

Peter Stein UBS Head of Group Governmental Affairs, Asia Pacific

Mark Jones Wells Fargo Securities Managing Director, Head of Well Fargo Securities Asia

Sneha Sanghvi Westpac Banking Corporation Head of Financial Markets, Asia

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ASIFMA Board of Directors

*Executive Committee Member

ASIFMA committees work closely with members, regulators and policymakers to help drive the development of broader and deeper capital markets in Asia.

Each committee is made up of members who guide its activities and take part in working groups and informal discussions to contribute to regulatory reform proposals and the development of the industry best practices.

GFMA Committees: ASIFMA participates in ad hoc working groups with our global alliance partners SIFMA (U.S.) and AFME (EU) on key global issues, such as OTC derivatives, ending ‘Too Big to Fail,’ Global LEI, and Cybersecurity, among others.

* FX initiatives are managed by the Asia-Pacific representative of the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA), which is funded and supported separately by GFXD members.

** AAMG is managed by its own steering committee and has separate membership fees.

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ASIFMA Committees

Fixed Income Equities Cross-Markets Foreign Exchange* Asset Management**

• Credit Markets • Offshore RMB • Secured Funding

Markets • Structured Credit

• Equities • Equity Capital

Markets

• COO Markets • Compliance • Post Trade • Product Tax • Public Policy

• Asia Pacific Subcommittee

• Distribution • Investment

− Equities Sub-Committee

− Fixed Income & Currency Sub-Committee

• Regulatory

Across its divisions and committees, ASIFMA is currently focused on a wide range of areas:

• China: domestic market development, government bond market liquidity, underwriting, repo market, bond futures market, collateral management.

• Offshore RMB: liquidity, infrastructure, CNH repo, fixings, internationalisation.

• Secured Funding Markets: collateral management and securities financing and close-out netting, withholding tax in Korea.

• India: domestic market development, government bond market liquidity, repo market, India tax developments.

• Korea: reverse decision to re-impose withholding tax on government bonds.

• Regional initiatives: engagement in ABMI/ABMF and ABAC/APFF forums on financial markets development and integration.

• Electronic trading: design & development of an industry “utility” for electronic trading due diligence to further enhance the efficiencies from development of the E-Trading Template.

• HKEx: improved practices and models at HKEx with regard to Gateway/throttle, closing auction, circuit breakers, single-stock trading halts.

• Best practices: promote best practices, succinct position papers on E-Trading, circuit breakers, ATSs.

• Exchange costs: exchange costs reduction.

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Current Focus Areas

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ASIFMA Members – Banks

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ASIFMA Members – Non-Banks

Deloitte

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AAMG Members

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GFXD Members