Asia Pacific Financial Services Insights
Risk & Regulation
Banks and financial services firms in Asia continue to struggle as they seek to adapt to a rapidly changing – and ever more stringent – global regulatory environment designed to improve transparency of transactions and reduce systemic risks in the financial markerts. In this section, you will see the latest news, analysis, market insights and best practices in managing financial risk, regulations and trading.
Latest Insights
Navigating UMR with the right partnership
The importance of uncleared margin rules (UMR) was brought sharply into view by the collapse of Archegos Capital Management at the end of March, resulting in more than $10 billion in losses at several prime brokers. S&P Global considers how partnerships with third parties can help buy-side firms in Asia prepare for the new rules.
4 Best Practices to Reverse Rising Compliance Costs for Banks
For financial services, compliance is as inevitable as death and taxes. But with compliance costs spiraling amid intensifying competition, banks are finding themselves increasingly squeezed. How can banks effectively and efficiently navigate the shifting compliance landscape? These four best practices can help banks enhance the efficiency and effectiveness of their next compliance project.
One major problem to tackle in the transition from LIBOR to alternative reference rates (ARRs) such as SOFR, €STR and SONIA (which are also referred to as risk-free rates, or RFRs) is how to handle legacy LIBOR positions when LIBOR is no longer published. It is fundamentally a challenging issue. While LIBOR is a credit-sensitive rate, the new risk-free ARRs such as SOFR are risk-free rates without a credit component. However, with the ISDA Fallbacks Protocol the problem is largely resolved. Or is it?
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Experts
Sage Patel
Sage has been with S&P Global since 2011. Prior to joining S&P Global, Sage was responsible for Pricing and Valuations at Fitch Solutions in London. He spent a portion of his career at tier-one investment banks, starting at Salomon Brothers then Citi Global Markets, Bank of America N.A and RBC Capital Markets across Fixed income Derivative Trading, Product Management and Product Development functions across London, New York and Toronto. Over the last 11 years, Sage has been leading S&P Global's Pricing, Valuations and Reference Data franchise in APAC across Fixed Income & Derivatives markets. The PVR product suite provides information which addresses the challenges and reforms faced by our Asia Pacific customers in today's evolving financial markets landscape.
Julian Chesser
He is responsible for the franchise across Asia Pacific, including all expansion into China and India. Julian joined the firm in 2012 from Fidelity International, where he was COO for Fixed Income based in London. He was the Accountable Executive for a major technology re-stack including risk management and trading. He worked at J.P. Morgan from 1997 to 2002 in London, New York and Milan and was co-head of fixed income operations from 2000.Julian holds an LLB from the University of Warwick, UK, and completed his bar finals in London.