by Haley Singleton
“For me, the most valuable session was on the impact of CPSS-IOSCO’s revised principles for financial market infrastructures. These new principles pose significant implications for all clearing houses and central securities depositories. While HKEx is putting efforts and resources into this, the GREAT workshop came at the right time and brought experts from the SEC, Fed and World Bank to provide insights and clarity. The workshop also provided a wonderful opportunity for GREAT delegates to exchange views and align thoughts on subjects. It was no doubt the most fruitful workshop I have attended.”
Leo Chu, Vice President, Clearing Division, Hong Kong Exchanges and Clearing Ltd.
“The conference has certainly put a different perspective on a couple of things – whether they are innovations or different angles to approaching similar issues. I will take home ideas about a few initiatives, and am already asking myself, How do we change or challenge the way we are doing things? Sometimes taking a different perspective on the things we are doing, especially if we are not achieving what we are setting out to do, is helpful, and the interaction with other attendees at GREAT gives just that perspective.”
Dale Connock, Head of Risk Management, Risk Management, Strate Ltd.“
“Taiwan Depository & Clearing Corporation is dedicated to providing better, safer and finer service to our market and in this extremely challenging environment, balancing risk and innovation has become a new and critical agenda for us. I am glad to have had the opportunity to learn how other infrastructures manage the entire risk management process while keeping agile to deliver new initiatives. This was a comprehensive seminar worth attending.”
Fred Fan, Manager, Operations Department, Taiwan Depository & Clearing Corporation.
“For me, the highlight of the conference was the opportunity to share experiences with colleagues from different countries, and communicate how we are dealing with issues that all of us confront. The opportunity to create a network with other people and other institutions, and in doing so learn more about the industry, has been the best part of the conference.”
Javier Jara, Manager, Legal Affairs and Product Development, Depósito Central de Valores S.A
“The sessions were all significant, especially the one on shortening the settlement cycle. Currently, Korea Exchange is considering shortening the settlement cycle from T+2 to T+1 in order to reduce credit risk, facilitate the use of securities and enhance the circulation speed of liquidity.”
Soo-Jae Lee, Vice President, Clearing & Settlement Services, Korea Exchange
“GREAT was an excellent experience that brought me up to date on new regulatory issues in the industry, such as FATCA and new CPSS-IOSCO regulations. It also gave me the opportunity to learn more about matters that are not related to my daily job, such as business continuity, risk management and the development of new products in Asian and other CSDs. I think GREAT is a program that every lawyer working at a CSD would benefit from attending.”
Magaly Martinez, Legal Manager, CAVALI S.A. I.C.L.V.
“I was particularly interested in the session on CPSS-IOSCO principles. The speakers shared highlights of recent developments, and I was able to receive a lot of significant information on these issues. The risk management presentation was also very valuable since we, like DTCC, are particularly concerned about this.”
Natesan Mayuranathan, Managing Director, Corporate Audit, The Canadian Depository for Securities Ltd.
“The GREAT conference was a valuable opportunity for networking with other delegates and learning about innovations in the industry. Two topics I found particularly interesting were shortening the settlement cycle and innovations in fund processing. The global tax panel was also helpful as it focused on the Foreign Account Tax Compliance Act issue, which is one of the challenging topics I will need to focus on this year.”
YuJi Sato, Senior Manager, Fixed Income & Investing Trust Department, Japan Securities Depository Center, Inc.
“The GREAT workshop was an excellent opportunity for us to learn different market practices from around the world. The speakers from all the participating organizations were amazing and it was great to have them share their experiences and exchange information. We covered a range of topics, from the most recently published CPSS-IOSCO principles and risk management, to new initiatives in the industry. All of this will be helpful for us to balance our own risk management and market innovations.”@
Kangjun Yang, Assistant Director, Settlement Department, China Securities Depository & Clearing Co., Ltd.