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With the internationalization of the renminbi (RMB) and rapid expansion of the RMB denominated OTC derivatives on the back of bond issuance, Hong Kong has become the largest offshore RMB OTC derivatives trading centre. Based on 2016 BIS’ Triennial Central Bank survey, daily averages turnover of RMB OTC interest rates derivatives and foreign exchange have reached USD66 billion and USD77 billion respectively. Even though it’s not mandatory to clear RMB denominated OTC derivatives, international banks find it difficult to execute RMB denominated OTC derivatives deals especially with Chinese banks due to high capital charges and insufficient credit limits.

Against this backdrop, TMA is pleased to have invited Mr. Jacky Mak, Managing Director, OTC Clear, Hong Kong Exchanges and Clearing Limited, to share with members on how the industry can overcome these challenges, how to mitigate the risks and the future growth of Hong Kong as the largest offshore RMB market in the world.

Speaker:

Jacky Mak, Managing Director, OTC Clear, HKEX

Jacky Mak has more than 20 years of experience in financial services and consulting.  His roles have included chief financial officer of the Hong Kong and Taiwan branch of Societe Generale's corporate and investment banking unit and director, OTC product development of HSBC's global banking and markets group in Hong Kong.  Before joining HKEX, he was a Hong Kong-based director in Bank of America Merrill Lynch's global markets division.

In addition to an undergraduate degree in computer science from the Hong Kong University of Science and Technology (HKUST), Mr Mak has an MBA and a Master's degree in investment management from HKUST.  He also has completed the advanced management programme of French graduate business school INSEAD.

As Individual and Institutional Members' benefit, TMA Members are cordially invited to attend this seminar free-of-charge and light lunch will be provided during the seminar. TMA Individual Members are entitled to receive 1 CPT (TMA) credit upon completion of the seminar. TMA is a recognized institution for providing continuous professional training (CPT) of the Securities and Futures Commission (SFC). The CPT hours can be used to meet CPT requirements of the SFC.  TMA Office will update your CPT record with the TMA (i.e. your CPT record as a TMA Individual Member) after the seminar is held.