Global CCP Conference on Clearing Set for Japan in April
A summit of the world’s major providers of central counterparty (CCP) clearing services, accompanied by key representatives of exchanges and marketplaces, global financial firms, central securities depositories and regulators, will be held in Tokyo from Wednesday, April 16, through Friday, April 18. It will discuss a broad range of emerging issues and challenges that CCPs and other elements of the trading infrastructure are facing as the financial industry demands progress from its trading infrastructure towards a more seamless, efficient and safer global environment for securities and derivatives.
The conference is being organized by CCP12, a global organization which, since 2001, has been working to further the industry’s dialogue on the adoption of best clearing and risk management practices, regulatory harmonization and pursuit of strategies to support the increase in cross-border trading and facilitate interconnections between and among global markets, instruments and liquidity pools.
The CCP business
“The financial firms and capital markets that we support around the world understand how critical the infrastructure is to bringing about greater efficiency, risk management and lower cost during a period when trading volumes are growing, when financial markets are increasingly looking to trade across national borders, and particularly at this time of acute market volatility,” said Amarílis Prado Sardenberg, chairman of CCP12, and COO of the Brazilian Clearing Corporation and Depository (CBLC).
“Regulatory issues are high on the agenda, with changes needed to foster the evolution of markets and to create secure cooperative arrangements to facilitate cross-border access. The discussion of the recent market environment, initiatives and the trends in regulation are a key aspect of the CCP business in the future,” said Rory Cunningham, chairman of the European Association of Central Counterparty Clearing Houses and director of Strategy and Development at LCH.Clearnet.
“Holding this conference is recognition by many of our CCPs that, with growing momentum in financial services toward consolidation globally, the industry is looking to them for leadership,” added Sardenberg. “The response thus far to our invitations has been very strong. We expect to have more than 150 participants from over 70 financial organizations.”
The Japan Securities Clearing Corporation and the Tokyo Stock Exchange, Inc. will be the venue hosts for the event at the Palace Hotel, Tokyo.
“All central counterparties are dealing with a number of challenging issues on how to address marketplace consolidation, manage investment in our local and regional market infrastructure and collaborate as the need grows for global clearing capabilities,” said Yoshimasa Yamashita, president and CEO of Japan Securities Clearing Corporation. “As a venue host with the Tokyo Stock Exchange, I am looking forward to seeing you all in Tokyo.”
“We all recognize and respect that each market has unique characteristics, market practices and technology capabilities, but we share a common challenge to support the growth of capital and help our customers lower their costs and reduce risk,” said Donald F. Donahue, chairman and CEO of DTCC in the U.S., and one of the founding members of the organization. “There are no simple solutions to fostering cross-border clearing, but this type of dialogue is a critical step in that process.”
Second conference
This will be the second global dialogue sponsored by the leading infrastructure organizations worldwide that clear and settle securities transactions. The first was held in London in 2001 and involved more than 150 industry leaders representing more than 70 of the most important financial services infrastructure organizations and firms from Europe, Asia/Pacific and the Americas. Since that time, as its membership expanded to 20 CCP organizations, CCP12 has been meeting at least biannually, as well as working in smaller teams to advance risk management awareness and analyze regulatory developments. @