Brace for more Nasdaq-like losses, HKEx CRO warns
Roland Chai says defaults are more likely as global instability increases, so CCPs should focus on auction processes
A Hong Kong Exchanges and Clearing executive has called for greater focus on default auction processes in light of the recent losses at Nasdaq Clearing, and warns that growing global instability means it won’t be the last of its kind.
Speaking at the Futures Industry Association’s Asia Derivatives conference in Singapore on November 29, Roland Chai, group risk officer at HKEx, said the pursuit of deleveraging, the end of monetary stimulus and increasing geopolitical tensions increases the risk
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