Published On: Sat, Apr 24th, 2010

Highlights of The Asian Banker Markets and Exchanges Convention

asian_banker_summit_logoThe Asian Banker held its 11th annual summit earlier this week in Singapore. More interestingly (to the summit was extended this year to include the Markets and Exchanges Convention (M&EC). The two day affair brought a wide range of panels, speeches and discussions on insights into Asia’s electronic trading industry. While it did have a distinctly bankers approach topics ranged from algorithmic trading, liquidity in Asia, OTC derivatives, Asia’s commodity industry, electronic trading infrastructure, market data and multi-asset classes.

The speakers were an excellent assortment of the industry’s leadership including Tom McMahon CEO of the SMX, Ito Warsito, Chairman of Asian and Oceanian Stock Exchange Federation (AOSEF) President and Director of the Indonesia Stock Exchange, Jane Diplock, Chairperson of the Securities Exchange Commission of New Zealand and Heng Swee Keat the Managing director of the Monetary Authority of Singapore (MAS) to name just a very few. I would have liked to have seen a few more buy-side on the panels however and a discussion on FIX protocol too.

One of the highlights of the event was the awards dinner held to congratulate achievements in electronic trading last year. The following awards were bestowed:

Stock Exchange of the Year 2009 – Singapore Exchange Limited

Broker of the Year 2009 – Goldman Sachs (Asia) LLC

Buy Side Trading Platform of the Year 2009 – Investment Technology Group, Inc

Dark Pool of the Year 2009 – Liquidnet Asia Limited

Financial Derivatives Exchanges of the Year 2009 – National Stock Exchange of India Limited

Sell Side Trading Platform of the Year 2009 – Fidessa Limited

Clearing House of the Year 2009 – National Securities Clearing Corporation Limited

The awards selection committee was chaired by David Eldon, Chairman, Board of Directors, Dubai International Financial Centre Authority and former Chairman of HSBC Asia Pacific. Other notable members included Sir George Mathewson, Dr Jeffrey Carmichael, Byung Chul Yoon and Cesar Virata. Candidates were assessed on 5 criteria 1) Superior financial performance, 2) Operational efficiency, 3)Product/system enhancement 4) Innovation and 5) Competitive advantage. I don’t know that I would agree with all those winners however, but the choices are certainly representative of the industry.

Despite the volcano that prevented some international delegates from attending the Markets and Exchanges Convention (and the main conference) it was a great success. I am sure that with the growth of electronic trading in Asia and the increasing interdependence of the financial industry next year will be an even bigger event.

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