PASLA was incorporated in Hong Kong in 1995 and is an association of firms that are active in the business of borrowing and/or lending securities in Asian markets.
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PASLA provides a collective voice and an industry consensus on issues that affect the development of the securities lending business.
PASLA works with regional regulators and exchanges to assist in the further development of the securities lending business.
On 3 January 2022, the Financial Supervisory Commission (FSC) announced the relaxation on the handling of foreign currency (FCY) collateral provided by the foreign institutional investors (FINIs) for securities borrowing with the local broker acting as a lender and for obtaining TWD loan from the local broker.
As announced last year, ISLA and PASLA are working together to develop GMSLA addenda and other relevant legal documentation for the Asia Pacific markets.
The current regional addenda have now been added to the ISLA website as well as remaining on the PASLA document section. PASLA members are able to request a log in to the ISLA website to review supplementary information including, for example, the GMSLA Pledge documentation and ISLA's clause library. PASLA's Legal Working Group will work with ISLA to prioritize and develop further annexes and addenda identified as essential for securities lending activity across Asian Pacific markets that will be available to members of both associations.
This is a further step along the digitalization journey of industry documentation, enabling members of both associations to access market-standard templates and promote the adoption of standard provisions across the securities lending markets.
On the 5th of January, the HKEx kindly presented PASLA members with a summary of their new listing regime.
The session materials are now available by clicking on the "Read More" link below.
PASLA is excited to partner with HKEx who have offered to provide an update for our members concerning the planned changes to Hong Kong’s listing rules on the 5th of January at 4:30pm HK time. This is a rare opportunity to engage directly with the exchange on one of their largest initiatives that will have an impact on both market liquidity perspective and access/hedging. The original consultation papers can be found on the link in the "Read More" tab below.
Your PASLA official representative will already have received an invite with dial in details - please contact info@paslaonline.com if you would also like them.
Thursday 16th December at 12pm (and subsequently available on demand) Register here or follow the "Read More" option below
Please join us for the latest in our current series of webinars.
This panel includes regional industry experts with representatives from the Lender, Borrower and local Broker community who will take a look at the headlines, trends and markets that have driven Securities Lending performance in APAC this year including a deep dive into Taiwan – a market that has been one of the star regional performers. The panel will explore the economic dynamics and investment themes that have shaped the APAC Securities Lending landscape and will look to the future as we ask what we can expect from 2022 and beyond.
The panel will also discuss the work that PASLA has undertaken to promote Securities Lending within the APAC region and provide an update on some of the important developments that have taken place within these markets.
If you didn’t get the opportunity to watch any of our earlier webinars in this series, they are still available to view on demand. Please register on the following links for:
· Securities Borrowing and Lending - Modern Day Essentials
· Introduction to Collateral Management
· The Increasing Importance of Collateralization In Asia Pacific
· Technology - the Digital Dilemma
· China Market Access
We would like to thank our Gold Sponsors BNY Mellon, Equilend and Morgan Stanley for their support of the webinar series and BNP Paribas and Societe Generale for their support of this event.
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Membership is open to any organisation that is a regular borrower or lender of securities or regularly enters into repo transactions. The Board may decide to confer honorary member status on institutions that do not meet this definition.
Membership includes access to country profiles, summaries of Executive Committee meetings, country updates and much more.