FIA Japan hosted the FIA Japan 2021 Virtual Conference "Establishment of Japan as a Global Financial Center" on March 4th 2021. Highlighting the event was a keynote speech delivered by Mr. Ryozo Himino, JFSA Commissioner, followed by Mr. Hiromi Yamaji, Director and Representative Executive Officer, Group COO, Japan Exchange Group (JPX) and President and CEO, Osaka Exchange (OSE).
A lively discussion with rich perspectives from industry leaders: FIA Japan Committee Chairpersons provided industry perspectives via Q&A-style sessions and a panel discussion titled “LIBOR Benchmark Reform and Implication for the Futures Market” featuring speakers from JSCC, TFX, Citigroup and Morgan Stanley.
In this 2-part session, moderated by FIA Japan Vice President Shun Yanagisawa, the Head of Market Infrastructure Division at the Bank of Japan, Mr. Inamura, touches upon the transition away from Yen LIBOR, as it will cease to be published by end-of-year, and shares his insights on the preparedness of market participants for this upcoming conversion. This was followed by an in-depth discussion on the subject from a panel of industry experts from JSCC, TFX, Morgan Stanley MUFG and Citigroup, including the pros/cons of replacement benchmarks (such as TONA for JPY, SOFR for USD, SONIA for GBP) and the potential impact on related swaps/derivatives trading, cleared and uncleared.
Takehiro Hosomura - Japan Securities Clearing Corporation, Executive Officer, Clearing Planning & OTC Derivatives Clearing Executive Director
Ryosuke Seo - Tokyo Financial Exchange, Director, Head of Wholesale Business Department
Atsuya Watanabe - Citigroup Global Markets Japan Inc. ,Director, Markets Planning and Control / Regulatory Specialist
Hiroki Tomiyasu - Morgan Stanley MUFG Securities Japan Inc. , Managing Director, COO of Fixed Income / FIAJ Tokyo International Finance Center Committee chairperson
All video recordings can be found here: 2021 Virtual Conference | FIA JAPAN