Events Committee Events AmCham Capital Markets Committee Luncheon - Taiwan's Securities Borrowing and Lending Market: Issues | AmCham Capital Markets Committee Luncheon - Taiwan's Securities Borrowing and Lending Market: Issues |
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Date: Tuesday, 12 January 2010
Taiwan is one of the most important Securites Borrowing and Lending (SBL) markets in Asia, however presently there are only 2/3 off-shore Agent lenders lending their clients Taiwanese assets. More are slowly coming but it has taken many years for them to enter this market – Why? Combination of the recommendations highlighted in AmCham’s 2009 position paper, such as to “creating a lender of last resort” “allowing omnibus accounts among lenders”, and “improving the recall process”, are still relevant. Every market is unique, but it is also helpful to look to others in the Asian region for reference. Taiwan is a market which is very liquid and has very good depth yet off-shore lenders are still reluctant to participate. To benefit all participants, local and off-shore, it will be constructive to examine some of the restrictions and possible solutions that can lead to the development of a more liquid and well-functioning SBL market in Taiwan. We are inviting you all and representatives from SFB and TSEC to join us on Jan. 12, 2010 to jointly review the existing barriers and further enhancements of the SBL market in Taiwan. About the Speakers
Datong Chang is the Head of Securities and Fund Services at Citibank Taiwan since 1994 where she is in charge of securities services for Foreign Institution Investors (FINI), insurance companies, Securities Investment and Trust Enterprises, Public funds and Depositary Receipts. Previously Ms. Change worked in the Merchant Banking Group. She began her banking career 30 years ago working for Chemical Bank, Shearson Global Investment Advisory Company as Credit Analyst, Relationship Manager and Asset Management Sales. Ms Chang obtained a MS in Accounting from the State University of New York at Albany and a MA in Economics from the National Taiwan University. Eric Jai, Head of Custody and Clearing, HSBC, Taiwan, has been in charge of investment applications, quota control, advising on regulatory and market practices, and all client support matters, and client queries for 17 years since Taiwan market was opened to foreign investors. Before joining HSBC in 1992, he spent 5 years as a marketing executive for overseas mutual fund companies in Taiwan. Tambi Mincer is a Managing Director at State Street in Hong Kong in charge of Product Development for Asia. Previously she worked at Credit Suisse in Prime Services in Hong Kong and Legal in London (she is a NY State licensed lawyer) supporting the equity finance and prime brokerage business. Tambi’s experience also covers derivatives and structured products as well as SBL from both the Lender’s and the Borrower’s side of the business.
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