Derivative players in Asia are beginning to revisit contingency plans in the face of the widening breakout of avian flu. Last year houses split up trading desks, transferred traders to other time zones and quarantined staff as the SARS epidemic spread (DW 4, 14). These emergency plans are being dusted off because the flu has hit several countries including Vietnam, Thailand and, most recently, China.
"We've had a few internal memos reminding people of best practices and quarantine procedures but no concrete steps have needed to be taken. However, it is on the radar screen," said Mark Panday, spokesman at UBS in Hong Kong. "We're keeping an eye on this," said a trader at an international house in Bangkok, noting that while no emergency measures have yet been enacted within the firm, it is carefully being watched, given recent human fatalities in Thailand. "The impact won't be as large as SARS," said a dealer at HSBC, noting that while the disease has gained a high profile in Asia, it is unlikely to have a major hit on local markets, unlike last year's outbreak.
