Published On: Fri, Apr 23rd, 2010

NSCCL Wins The Asian Banker Award for Clearing House Of The Year

• Securities Clearing Corporation introduced significant service innovations in 2009.

• Rigorous selection process chaired by David Eldon, Chairman, Board of
Directors, Dubai International Financial Centre Authority and former Chairman of
HSBC Asia Pacific.

• International jury uses comprehensive selection criteria.

The Asian Banker Achievement awards for Markets and Exchanges were announced April 19 in a ceremony in Singapore. An exclusive audience of top industry leaders from around the world witnessed the award ceremony for 52 of the top professionals and organisations in the financial industry and markets & exchanges industry in the Asia Pacific region.

This is the highest award programme of its kind for individual and institutional achievement in the financial industry and markets and exchanges industry in the Asia Pacific region today.

“The achievement awards programme for market and exchanges takes the idea of business excellence in financial markets and exchanges very seriously. Here we look at various aspects of these companies, including profitability, innovativeness, client support, new product development, and assess their performance relative to peers in the entire Asia Pacific region.” says Yi Yuandong, Research Managing of The Asian Banker. “The winners of this year’s award have truly outperformed their peers in the region whom we have studied; their institutions and customers have benefited as a result.”

An audience of top industry leaders from around the world witnessed the awards ceremony for 18 of the top chairmen, CEOs and industry leaders. Among the honoured guests were Neel Kashkari, former Assistant Secretary, US Treasury and head of the TARP Programme, Ronald Arculli, Chairman, Hong Kong Exchanges and Clearing, David Conner, Vice Chairman and CEO, OCBC, Han Mingzhi, Director General, China Banking Regulatory Commission, China, David Eldon, Chairman, Dubai International Financial Centre and Chairman, The Asian Banker Summit Advisory Council, Cesar Virata, Vice Chairman, RCBC Bank, the Philippines, and Banthoon Lamsam, Chairman and CEO, Kasikornbank, Thailand.

The award ceremony was held in conjunction with The Asian Banker Summit, the largest gathering of financial services industry professionals in the Asia-Pacific region. The Summit is held annually in different Asian cities, and this year’s was held in Singapore with the full support of the Monetary Authority of Singapore and the Association of Banks of Singapore.

Among the key speakers at the event are Neel Kashkari, Ásgeir Jónsson, Chief Economist, Arion Bank and author of the book Why Iceland?, Heng Swee Keat, Managing Director, Monetary Authority of Singapore, David Eldon, former Chairman of The Hongkong and Shanghai Bank and currently the Senior Advisor of PricewaterhouseCoopers, and Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, and Chairman of The Association of Banks in Singapore.

• Securities Clearing Corporation introduced significant service innovations in 2009.

The National Securities Clearing Corporation is a wholly-owned subsidiary of National Stock Exchange of India and it was the first clearing corporation in the country to provide innovation/settlement guarantees that revolutionized the entire concept of settlement system in India.

The National Securities Clearing Corporation is a dominant player in its market. In 2009, it had a market share of 75% in equity clearing, 100% in equity derivatives clearing, and 50% in currency derivatives clearing.

The cross margining mechanism across equity and equity derivatives segments that The National Securities Clearing Corporation implemented in 2009 brought significant benefits to investors. As a result of the implementation, the margin requirements for offsetting positions were reduced by 75% of the total margin requirement in the respective segment and therefore investors’ trading capability increased.

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