Chris Davis

Hong Kong

Senior Markets Reporter and Asia Editor at Risk.net

Senior markets reporter and Asia editor at https://t.co/gORioFTzWv

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Articles

Indonesian CCP seeks thumbs-up from US, UK and Japan

1 month ago | risk.net | Chris Davis

Indonesia's new central counterparty (CCP) for foreign exchange derivatives is to seek recognition from regulators in three overseas jurisdictions this year, amid a flurry of membership enquiries from foreign banks. "[Foreign banks] have shown their enthusiasm [and] willingness to join," said Abdul Hadie, head of strategic planning and enterprise risk management at Indonesia Clearing and Guarantee Corporation (IDClear).
Japan, Basel III and the pitfalls of being on time

1 month ago | risk.net | Chris Davis

The Japanese are renowned for the cultural emphasis they place upon punctuality. On the Shinkansen - or bullet train - network, delays are famously measured in seconds; disruptions longer than a few minutes can make national headlines. In business, too, being on time is not merely a matter of professional courtesy, it's a fundamental mark of social respect.
Japan's regulator stands firm behind Basel as peers buckle

2 months ago | risk.net | Chris Davis

Japan's bank supervisor won't backtrack on its implementation of internationally agreed bank capital rules, despite other jurisdictions diverging or delaying. Concern is rising among the country's banks, however, that they will suffer from competitive distortions against rivals with laxer rules.
Hong Kong dealers make Honia transition push

2 months ago | risk.net | Chris Davis

Banks and brokers are making an industry-led bid to kick-start a transition away from the Hong Kong interbank offered rate, or Hibor, the market's prevailing interest rate benchmark, by ramping up liquidity in swaps linked to the alternative Hong Kong overnight average, or Honia.
Autocall curbs hit long-dated Nikkei and HSCEI options

Feb 13, 2025 | risk.net | Chris Davis

Long-dated options on popular Asia stock indexes are becoming a rare sight on exotics desks lately. The reason, dealers say, is that Mrs Watanabe is no longer supplying volatility. Regulatory clampdowns on the sale of retail structured products in Japan and South Korea have seen autocallable bond issuance on once-popular underlyings including the Nikkei 225 and China's HSCEI come to a near standstill, choking off the supply of longer-dated volatility on these indexes.
South Korea's FX reforms working amid political crisis, dealers say

Jan 16, 2025 | risk.net | Chris Davis

Foreign exchange activity in the wake of South Korea's political crisis indicates recent reforms aimed at bringing more Korean won trading onshore and away from the offshore non-deliverable forward (NDF) market are beginning to have an effect, dealers say. The Korean won sunk to a succession of historic lows against the US dollar last month amid political turmoil sparked by President Yoon Suk Yeol's surprise attempt to impose martial law.
US senators press CFTC on Japan swap clearing

Dec 18, 2024 | risk.net | Chris Davis

Two US senators have written to the Commodity Futures Trading Commission's chairman, Rostin Behnam, calling for US investors to be given access to yen interest rate swap clearing in Japan. US investors are currently barred from clearing yen swaps at Japan Securities Clearing Corporation, shutting them out of a market that can be cheaper and more liquid for certain positions.
India postpones IM go-live date

Nov 12, 2024 | risk.net | Chris Davis

The Reserve Bank of India (RBI) has pushed back the implementation of its initial margin requirements for non-cleared derivatives trades by nearly five months, just one day before the rules were due to come into force. Posting of initial margin was scheduled to start on November 8. The delay comes amid industry concerns about the preparedness of custody arrangements for initial margin collateral.
Deep-learning models reveal how context and listener attention shape electrophysiological correlates of speech-to-language transformation

Nov 11, 2024 | journals.plos.org | Andrew Anderson |Chris Davis |Western Sydney |Edmund C. Lalor

Loading metrics Open Access Peer-reviewedResearch Article ? This is an uncorrected proof. Citation: Anderson AJ, Davis C, Lalor EC (2024) Deep-learning models reveal how context and listener attention shape electrophysiological correlates of speech-to-language transformation. PLoS Comput Biol 20(11): e1012537.
New benchmark to give Philippine peso swaps a fillip, post-Isda add

Oct 28, 2024 | risk.net | Chris Davis

Tweet Facebook LinkedIn Save this article Send to Print this page The Philippine peso interest rate swaps market is expected to get a reboot when a new overnight reference rate is incorporated into documentation, say sources. The Bangko Sentral ng Pilipinas’s variable reverse repo rate will be added in the International Swaps and Derivatives Association’s next update to its interest rate derivatives definitions, due in November.