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The Five APFF Work Streams

Work Stream 4: Financial Market Infrastructures & Cross-Border Market Practices The Asia Pacific Financial Forum (APFF) Seattle Symposium, 7 July 2014. The Five APFF Work Streams. Linkages & Structural Issues group. Work Stream 4. Key dates 2013 – 2014.

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The Five APFF Work Streams

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  1. Work Stream 4: Financial Market Infrastructures & Cross-Border Market PracticesThe Asia Pacific Financial Forum(APFF)Seattle Symposium, 7 July 2014

  2. The Five APFF Work Streams Linkages & Structural Issues group Work Stream 4

  3. Key dates 2013 – 2014 • July 2014: Updates to Third ABAC Symposium, Seattle Washington USA • February 10-14 2014: Updates to First ABAC Meeting, Auckland • Q4 2013: Work Stream kick off meetings, participant invitations • May 2014: Updates to Second ABAC Meeting, Santiago • September 2014: ABAC Report to Finance Ministers, Beijing

  4. Work Stream 4 • Two focus areas for recommendations to Finance Ministers • Cross-border investment market practices, access and repatriation • Technical substructure mapping for financial market infrastructure

  5. China Japan Geographic Focus Philippines Hong Kong Thailand Malaysia Singapore Indonesia Australia 7

  6. Cross-border investment, market access & repatriation promoting cross-border investment flows emphasis on risk management, standards and platforms that can selectively harmonize market access repatriation practices, enhancing interoperability, liquidity and connectivity of domestic and cross-border financial markets, and reduce systemic risks

  7. Promotion of liquidity Communication Standards Enhanced capital mobility Security and Resilience Technology Standards Ensuring solvency Ability to recognize spillover effect between asset markets Oversight, supervision TECHNICAL SUBSTRUCTURE POLICY AND PRACTICE Computing and Protocols Rules, norms and conventions INSTITUTIONAL INFRASTRUCTURE Regionally focused Institutional infrastructure Supervision Prudential oversight Resolution Insurance Financial Market Architecture

  8. Work Stream 4: Next steps? • Identifying ways to improve or define cross-border market practices, including KYC and AML and working with stakeholders on adoption of agreed market practices; • Promoting a deeper understanding within the Asia-Pacific industry of the issues around a shortening of the settlement cycles and developing consensus on best practice; • Identifying standards that can selectively enable harmonized market practices and cross-border connectivity across FMIs; and • Facilitating better understanding of other key enablers required in the securities investment ecosystem that are being driven by current initiatives like Asia Region Funds Passport (ARFP), including domestic technical standardization, data availability, confidentiality and privacy rules/regulations, risk identification and management and the need for dispute, recovery and resolution mechanisms.

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