Asia-Pacific
Dealers favour central XVA desks, but splits remain on funding
Most banks run a single desk within the front office, but more than half share responsibility for its funding needs with treasury
Japan Post’s HTM markdowns grow 21% in Q3
Markdowns on securities hit record ¥2.7trn
XVA desks may be standard – their tech and mandates aren’t
A decade into centralised management of XVAs, Risk Benchmarking data finds divergent approaches to pricing, methodologies and tech stacks
China margin negotiations wait on new collateral document
With 2026 deadline looming, banks await key Nafmii document to begin contract negotiations
Korean autocalls to make comeback, with ‘smaller pie’ for banks
As equity-linked autocallable channels look set to reopen, new rules could limit market’s revival
Upcoming Asia-Pacific events
Global banks ‘hassled’ by China’s mystery data rules
Some firms left in the dark as new guidance on exporting data overseas is distributed bilaterally
Technology vendor of the year and System support and implementation provider of the year: Murex
Murex has combined investment in its MX.3 platform with a delivery model that helps clients upgrade continuously and scale with confidence
US hedge funds eyeing JSCC after regulations eased
FCMs see strong interest and expect funds to start clearing yen swaps before year-end
Op risk data: For Yes Bank, no mercy over insider fraud
Also: Cracking Brazil’s Pix hacks, Macquarie fund fumble, and taxing time for Crédit Agricole. Data by ORX News
How US hedge funds won big on permission to clear at JSCC
But CFTC no-action letter won’t allow netting of Japanese trades with those cleared at US FCMs
Market awaits GMRA green light after China repo relaxation
Icma reviewing new PBoC rules and “potential implications” for GMRA eligibility onshore
Real money rides the hybrid options wave
Insurers follow hedge funds into exotic trades with equity-down, yields-down recession plays
Environmental products house of the year: ENGIE
Energy giant signs raft of forward-thinking environmental deals in Apac
Volatile Q2 reshapes margin composition at top CCPs
JSCC introduces new cash collateral method, CME sees gold hit record high
Goldman’s Houghton on Asia’s watchful bondholders
Talking Heads 2025: Fed independence and debt concerns could fuel new moves away from US debt, says Apac Ficc co-head
Hedge funds switch yen bets after Japan election shock
Takaichi victory forces unwinds and a move to topside trades, while barriers give dealers a headache
JPM and MS offer US Treasury algos on Tradeweb
Dealer algos form part of broader execution strategy following acquisition of r8fin
Best operations or back-office solution: Murex
Murex’s MX.3 platform underpins trading operations across Apac, supporting institutions in automation of the lifecycle of bilateral and cleared trades
Collateral manager of the year: CCDC
Risk Asia Awards 2025
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Technology vendor of the year and System support and implementation provider of the year: Murex
Environmental products house of the year: ENGIE
Best operations or back-office solution: Murex
Technology product of the year: Murex
Newcomer of the year: Marex
