Industry speaks about impact of regulations in Asia
Fidessa paper examines how EU and US initiatives are affecting firms in the region
Hong Kong, 7th August 2013 – Fidessa group plc (LSE: FDSA) has today announced the publication of its latest discussion paper, Harmony or Discord?, which looks at how the actions of regulators in North America and Europe are affecting trading and investing activities in Asia. In the paper, four industry leaders based in Asia-Pacific share their views on the ways in which the waves of regulation from other regions are impacting the practical realities of doing business there.
David Rabinowitz from UBS, John Fildes from Chi-X Australia, Macquarie's Robert Laible and Andy Maynard from CLSA joined Fidessa's Steve Grob and Emily Thomas for the discussion in Hong Kong.
Grob, Fidessa's Director of Group Strategy, commented: "From the conversation we had, it is clear that while regulations are heavily affecting Asian markets, there is a refreshingly pragmatic view amongst local participants across the region." He continued: "Firms are also having to interpret these global regulations against the fragmented regulatory structure that has always existed across Asia."
The group discussed issues ranging from Dodd-Frank and Financial Transaction Taxes, through the cost of additional compliance requirements and how they affect the ultimate investor, to the ways in which firms differentiate themselves in a bundled environment, and the upcoming ‘clearing crunch’.
"It’s fascinating to hear practical examples of how Asia-based businesses are reacting to what are very significant changes for global markets," Grob added. "This particular discussion highlighted how the operating environment in Asia is different from anywhere else in the world. Hearing how local firms are dealing with that made very interesting listening."PDF (0.05 MB)