Asia-Pacific CSD Group (ACG), the premier industrial association for central securities depositories (CSDs) and central counterparties (CCPs) in the Asia-Pacific region, held its first webinar on Monday 7th September 2020 to discuss the opportunities and challenges that the region’s post-trade infrastructures face amid the ongoing COVID-19 pandemic.
The webinar featured a keynote representation by Mr. David Lynne, Head of Corporate Bank APAC and Head of FICC APAC at Deutsche Bank, an ACG Associate Member, under the theme of “The Year of the COVID – Insights, Lessons Learnt and Opportunities Gained”. As the pandemic spreads across the globe, the initial public health crisis spilled over into the economic and financial sectors, bringing normal economic activities to a halt and affecting corporate cash flows. The decisive response by central banks and authorities to support the market with greater liquidity looks set to maintain, if not strengthen, the low interest rate environment that many parts of the world are in since the aftermath of the GFC. Mr. Lynne went on to point out that financial market infrastructures, in particular those in the Asia-Pacific region, should find in the pandemic both the challenge of ensuring market operation while protecting their staff from infection, and the opportunity for accelerated digitization, with areas such as regional post-trade secure API standards, digital signatures and documents and the applications of the Distributed Ledger Technology (DLT). Such technologies can bring promising benefits, including the potential to allow dispersed resilient operations, promote settlement risks management efficiency and facilitate ease of investments by international investors.
The keynote was followed by a report presentation by Mr. Shariq Naseem, Head of Product Development and Marketing at Central Depository Company of Pakistan Ltd (CDCPL) on the contingency readiness of ACG members amid the pandemic. As the Convener of the ACG Risk and Recovery Management Task Force (R&RM TF), CDCPL led a survey of ACG members on their contingency planning and COVID-19 response earlier this year. The survey found the responding ACG members on the whole well prepared to continue stable operation, and CDCPL has planned to update the survey in time. Findings of the survey are available on ACG official website. “The COVID-19 pandemic is probably the most impactful event of our times, with the potential to transform the way that the business of capital market post-trade processing is conducted, “ said Dr. Wenhua DAI, Chairman of ACG, “as a successful attempt to facilitate dialogue when face-to-face communication has been rendered impossible, the Webinar bears testimony to the strength and resilience of the ACG community.”
About ACG
Asia-Pacific Central Securities Depository Group (ACG) is the industry organization for CSDs and CCPs in the Asia-Pacific region. Founded in November 1997, ACG aims to facilitate exchange of information and promote mutual assistance among member CSDs and CCPs. ACG now has 35 full members and 2 associate members, covering almost all financial market infrastructures in the region. To learn more, please visit us at www.acgcsd.org or connect with us on LinkedIn .
