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DTCC Takes the OTC Derivatives Dialogue to Asia Global Trade Repository

DTCC’s strategy for gaining support for the Global Trade Repository in Asia is multifaceted. “We are leveraging longstanding relationships with regional infrastructure organizations and we are expanding our network to include regulators, officials and market participants to build consensus around the need for a global infrastructure,” said Michael Bodson, DTCC’s COO, emphasizing that outreach is always in the form of dialogue.

The company’s efforts entail:

  • Raising awareness of DTCC and its capabilities;
  • Explaining the Global Trade Repository initiative and its benefits;
  • Learning the needs and priorities of local regulators, authorities and financial institutions;
  • Understanding financial reform in key Asian countries;
  • Sharing insights about global financial reform and its potential impact on Asian markets;
  • Building relationships with embassies and economic/trade offices based in Washington, D.C.

Criss-crossing the region, DTCC executives are focusing initially on markets with the highest over-the-counter derivatives volume – Japan, Hong Kong, Singapore and Australia – while keeping infrastructure organizations in other markets abreast of developments through ongoing communication channels.

To further raise its Asia-Pacific profile, DTCC has been on the agenda at regional meetings sponsored by International Swaps and Derivatives Association. In addition, the company has joined ASIFMA, the Asia Securities Industry & Financial Markets Association, which will strengthen its ability to reach Asian-based customers and gather regulatory intelligence. Lastly, DTCC also plans to have a robust presence at the 2012 Sibos meeting to be held in Osaka, Japan, in November.