The International Swaps and Derivatives Association is looking at establishing operational and risk management committees for non-Japan Asia in the coming months. "If the critical mass is there, this may well happen this year," said Angela Papesch, head of the Asia-Pacific office at ISDA in Singapore. Papesch added that there has been some discussions in recent months to add operational and risk management working committees to focus on issues such as the effects of the impending Basel Accord. "With the Basel review process coming to a conclusion, it will become relevant for the jurisdictions to consider regional implications," said Papesch.
Similar committees already exist for Japan, but these do not overlap with other countries.
Papesch added that in the next few months ISDA will start asking firms to nominate staff. "It's an open structure--it's not invitation only," she added.
