ICMA in Asia Pacific
 
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ICMA has established an Asia-Pacific representative office in Hong Kong and has launched the Asia-Pacific Regional Committee to effectively address the needs of its members in the region and promote regulatory and market practice initiatives related to ICMA’s areas of international expertise.

Among the association’s activities in Asia Pacific:
  • ICMA facilitates two debt primary market committees in the region, the ICMA Asia Bond Syndicate Forum and the ICMA Asia Legal & Documentation Forum, which allow participants to shape cross-border primary market practices in Asia and provide Asian perspectives on European regulation and practice.
  • ICMA has co-published guides to Infrastructure Financing in Asia and to Repo in Asia.
  • In China, ICMA advises the People’s Bank of China (PBOC) on green finance regulations and works with the National Association of Financial Market Institutional Investors (NAFMII) on developing the Chinese onshore and cross-border bond markets.
  • In Southeast Asia, ICMA advises a number of countries on international standards to assist in the development of their repo market structure, oversight, and documentation as well as the development of green bond markets and guidelines.
  • Across the region, ICMA holds frequent workshops on the Global Master Repurchase Agreement (GMRA) and international repo best practice.

ICMA works together with a number of associations in Asia:
ICMA also has observer status on ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF)'s Documentation Recommendation Board (ADRB), which provides recommendations on best market practice and standard documentation for professional bond markets for the ASEAN + 3 region (refers to the 10 members of the Association of Southeast Asian Nations (ASEAN) plus the People’s Republic of China, Japan, and the Republic of Korea).


Useful links:
I. Pan Asia-Pacific

i) Repo
ii) Other

II. China

i) Green bond market

The practice and prospects for green bond market development at home and abroad - published by the NAFMII-ICMA Working Group, 8th UK-China Economic and Financial Dialogue (2017).
China's Green Bond Market, 11 January 2017

English versions of the Green financial bond rules of the People’s Bank of China (PBOC):
These translations have been coordinated and made available by ICMA for information only. In case of any discrepancy between these translations and the original Chinese version, please refer to the Chinese version as the official document.


ii) The Panda Bond Market and Perspectives of Foreign Issuers - published by the ICMA-NAFMII Working Group: 8th UK-China Economic and Financial Dialogue - October 2017

iii) Practices and procedures in the Chinese and international primary debt capital markets - published by the ICMA-NAFMII Working Group, 6th UK-China Economic and Financial Dialogue - September 2015



See also
ICMA Executive Education has held a number of public courses in Asia. These include:-
  • Securities Operations Foundation Qualification (SOFQ) in Malaysia
  • Derivatives Operations in Malaysia
  • ICMA Fixed Income Certificate (FIC) Programme in Hong Kong and South Korea

We have also recently held the following in-house courses:-
  • 4 day Primary Market Certificate course for a leading bank in the Philippines
  • 3 day Repo course for a leading bank in India
  • 3 day Collateral Management course for three banks in Singapore
  • 1 day SLB, Repo and OTC Derivatives course for a bank in Singapore
  • 10 day Operations course for a Clearing House in China

Online courses

We also welcome many delegates on our online programmes from the Asia Pacific region. These courses allow participants to study the material in their own time and at their own pace. The courses are:-

In-house courses

ICMA Executive Education can deliver any of its advertised public courses as in-house programmes. Courses can be delivered in their current format or modifications can be made where necessary to accommodate a client’s specific training needs. This allows for subjects specific to the organisation to be addressed, which might otherwise not be raised in a public forum. Click here for further information.

To see our full course listing, click here.


NDRCTC (Training Center of the China National Development and Reform Commission)

ICMA works in co-operation with the Training Center of the NDRC in accrediting the Corporate Finance Consultant Certificate (CFC) Programme, an international professional qualification in the specialised field of corporate finance. It is based not only on research on how to help enterprise financing, investment and risk management issues by experts both in China and abroad, but also on the financial needs of Chinese based enterprises, especially SMEs. To date, thousands of delegates have successfully achieved the CFC qualification.

Click here for more information on the CFC.
Click here to see lists of the CFC certificate holders.


ICMA EVENTS

Spring/Summer 2018 event dates coming soon.



SUPPORTED EVENTS

Spring/Summer 2018 event dates coming soon.



PAST EVENTS

ICMA and Clifford Chance seminar: an in-depth review of the Global Master Repurchase Agreement (GMRA), Sydney, 7 December 2017
 
This seminar provided attendees with an in-depth review of the fundamental provisions of the GMRA 2000 and the differences with the GMRA 2011 version with a paragraph by paragraph analysis. The sessions covered the GMRA 2011 Protocol, recent case law relating to repo and the key documentation impacts of bank resolution and shadow banking regulation now being implemented.

View event information



Developments in Green and Social Bond Markets – the Asian perspective, Tokyo, 2 November 2017

This event “Developments in the Green and Social Bond Markets – the Asian Perspective” took place in Tokyo on 2 November with the support of the Japan Securities Dealers Association (JSDA).

The conference built on the sharp growth in Asian green bond activity, the recent launch of guidelines by the Japanese Ministry of Environment, pioneering social bond issuance, and increased regional investment in such products.

It brought together issuers, underwriters, investors, policymakers, market infrastructure and service providers and other green bond and social bond market stakeholders to discuss recent developments in Asia. With a focus on the application of the market standards represented by the Green Bond Principles, the Social Bond Principles and the Sustainability Bond Guidelines, as well as official sector guidelines, expert speakers explored requirements for the further development of the green bond market in the region, as well as the increasingly active social and sustainability bond markets.

View event information
View press release

Supporting Organisations:
The Investment Trust Association of Japan
Japan Investment Advisors Association
JPX


Media Partner:
Environmental Finance.



The internationalisation of the Chinese capital market: Opportunities and challenges, Shanghai, 31 October 2017

Jointly organised by the International Capital Market Association, Shanghai Lujiazui Financial City Development Authority, and Zhong Lun Law Firm


This half day conference looked at the latest developments in Chinese capital markets and the opportunities that they present for international issuers and investors.

Reflecting the changes currently underway, keynote speakers and panels of local and international experts discussed: Bond Connect, green bonds, panda bonds and the opening of China’s domestic bond market and One Belt One Road - infrastructure financing through the capital market.

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Briefing call for ICMA Asia-Pacific members on MiFID II and research unbundling, 12 October 2017

With the MiFID II implementation date fast approaching, investors and market participants are actively trying to figure out the best way of adapting to the new EU research unbundling rules, their implementation in Europe, and their effect on market practices globally.

This presentation by Patrik Karlsson, Director, Market Practice and Regulatory Policy, ICMA covered research unbundling; how it is being implemented, particularly by the buy-side, what the landscape might look like in 2018 and beyond and how this impacts non-EU firms.

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ICMA and Clifford Chance seminar: an in-depth review of the Global Master Repurchase Agreement (GMRA), Singapore, 29 September 2017

This seminar provided attendees with an in-depth review of the fundamental provisions of the GMRA 2000 and the differences with the GMRA 2011 version with a paragraph by paragraph analysis. The session also covered the GMRA 2011 Protocol, recent case law relating to repo and the key documentation impacts of bank resolution and shadow banking regulation now being implemented.

View event information



ICMA lunchtime briefing - MiFID II/R implications for Asian fixed income, Hong Kong, 28 August 2017 and Singapore, 31 August 2017

This lunchtime briefing from ICMA’s Andy Hill, Senior Director of secondary markets provided an overview of the main changes that MiFID II/R will bring to European fixed income market structure and operation and highlight the opportunities that are being created for new market entrants and new ways of doing business. An open discussion on the likely impacts for Asian fixed income issuers, investors and banks will follow the session.

Among the topics covered were:
  • Market structure – what are regulated markets, MTFs, OTFs and Systematic Internalisers under MIFID II/R?
  • Transparency and reporting – what are the new requirements, how do they apply to liquid/illiquid instruments, what are the rules for post trade deferrals?
  • Research unbundling
  • Best execution reporting
  • Potential market impacts and challenges
  • Implications for firms in Asia-Pacific
View Hong Kong event information
View Singapore event information



Japan Securities Summit 2017, London, 8 March 2017

The Japan Securities Dealers Association (JSDA) and the International Capital Market Association (ICMA) co-hosted the Japan Securities Summit on 8 March at the Mansion House in London.
 
The summit, featuring contributions from a high-level delegation from the Japanese market, government and central bank, helped European investors and financial market professionals to understand challenges and the potential of Japanese economy and securities market.

The seminar was open to all ICMA members and interested financial market participants.

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Briefing on “The International Capital Market Association Primary Market Handbook”, 28 February 2017

This half-day briefing helped market participants to gain a better understanding of the International Capital Market Association (ICMA) Primary Market Handbook and its practical application to transactions in the international capital markets.

The ICMA Primary Market Handbook, which sets out recommendations, guidance and standard wording and documentation for syndicated cross-border securities issuance, is widely used by ICMA members when lead managing such issues.

Since its launch in 1985, the Handbook has grown from a few short pages covering the issuance of straight Eurobonds to a comprehensive document covering a broad range of international securities. It is very much a ‘live document’, continuously responding to market developments when guidance or standardisation is required. Recent revisions include changes to the form of debt selling restrictions and an explanatory note on the operation of pre-sounding, bookbuilding and allocation processes.

Key areas covered:
•    History, nuts and bolts of the ICMA Primary Market Handbook;
•    Scope and practical application of the ICMA Primary Market Handbook; and
•    Recent revisions and topical issues (e.g. Market Abuse Regulation, allocation procedures and stabilisation).

View event information



ICMA & Clifford Chance seminar: an in-depth review of the Global Master Repurchase Agreement (GMRA), Hong Kong, 13 December 2016

View event information



ICMA & Clifford Chance seminar: an in-depth review of the Global Master Repurchase Agreement (GMRA), Singapore, 29 November 2016

View event information



ICMA Repo Workshops

ICMA has held several in-house repo workshops in recent years in Manila, Kuala Lumpur, Jakarta and Hanoi. If your firm is interested in hosting an in-house repo workshop, please email Allan Malvar.


ICMA Legal & Regulatory Helpdesk in Hong Kong

(Members only)


+852 2531 6590


For legal enquiries: legalhelpdesk@icmagroup.org

For market practice and regulatory policy queries: regulatoryhelpdesk@icmagroup.org



ICMA representative office in Hong Kong

Phone: +852 2531 6592

Address
Hong Kong Representative Office
Unit 3603, Tower 2, Lippo Centre
89 Queensway Admiralty
Hong Kong

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Mushtaq Kapasi

Chief Representative, ICMA Asia Pacific

Direct line: +852 2531 6590

EMAIL
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Ricco Zhang


Director, ICMA Asia Pacific

Direct line: +852 2531 6591

EMAIL
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Wing Wong


Assistant, ICMA Asia Pacific

Direct line: +852 2531 6592

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