On September 11, 2023, FIA Japan jointly hosted a seminar with JPX at the TSE Hall, which was attended by around 130 industry professionals. We were honored to welcome CFTC Commissioner Pham as the Keynote Speaker.
Ahead of the seminar, a Bell Ringing ceremony was held to welcome Commissioner Pham, with the attendance of JPX CEO Yamaji. The Commissioner rang the bell 5 times in reference to the traditional “5 type of rice grains harvested in Japan,” which symbolizes growth and prosperity.
During her speech, Commissioner Pham mentioned the importance of regulatory clarity, growth, and market access among other topics. She discussed the CFTC agenda moving forward that includes work on carbon credits and digital assets. Finally, she also touched upon the GMAC (Global Market Advisory Committee) initiative, which advises the Commission on various issues.
The Commissioner then participated to a Fireside Chat titled “The role and outlook of the derivatives market in the financial infrastructure.” The other panelists included FSA Director General Ito, BoJ Associate Director General Hamano, JSCC President & CEO Konuma, and Morgan Stanley MUFG/FIA Japan Director Tomiyasu. Citigroup Global Markets/FIA Japan Vice President Yanagisawa moderated the session that covered a broad range of topics: CFTC’s focus area, global regulatory harmonization, government focus on Japan’s sustainable growth thru household investments, asset management industry enhancements, interest rate derivatives market environment, risk management tools for CCPs etc. Thanks to various initiatives, notably from FSA, it was noted that Japan has been receiving a lot of interest from foreign investors since last year, some firms looking into establishing an office here.
Mr. Shun Yanagisawa made the following comments on the panel discussions: "The panel discussed various topics related to futures and derivatives, from a macro view to a micro level, from the global to the Japan local market, macro prudence to micro prudence.
The Japan market is finally showing signs of revival and catching the attention of global investors for the first time since several decades. It is a great honor to have had such a great panel with senior executives as FIA Japan".
JPX CEO Yamaji commented on the event as follows:
”We were very honored to host an event inviting CFTC Commissioner Pham and industry leaders. Every comment was so intriguing and insightful. I believe this collaboration with FIA Japan should contribute to an even deeper understanding of global investors on the liquid Japanese derivatives markets”.
On the same day in the evening, FIA Japan held its traditional “Summer Party” at the Foreign Correspondent’s Club of Japan. In addition to CFTC Commissioner Pham, we had the privilege of being joined by FSA Commissioner Kurita (right), who also shared a few words and insights on our industry.
During the networking reception that followed, FIA Japan members and guests had a chance to catch up and meet new faces, while enjoying the buffet and cocktails.