Collateral Management Japan Forum
Join leading regulators, treasury and risk practitioners and OTC derivatives experts to discuss the outlook for Japanese derivatives, repo and securities markets; strategies in complying with new regulations, effective ways in collateral optimisation and innovative ways in managing trading costs.
Head of Marketing & Strategy, Asia Pacific
Alexandre looks after the definition, positioning and go-to-market strategy of Murex product solutions with a focus on Risk Management and Regulatory Transformation. His most recent work centers on the implementation of the bilateral Initial Margin and Basel III capital reforms, and on XVA desks operating models. Alexandre also co-heads the Murex task force on the Interest Rates Benchmark Reform.
Since joining Murex in 2000, Alexandre has held both senior client-facing and product management positions, last serving as global head of the Risk Control practice and general manager for Murex Ireland, where he drove the development of the MX.III XVA management solution and Credit Risk simulation engine.
Alexandre holds a « Grande École » MSc in Management and Finance from HEC Paris.
Executive Director, Head of Collateral Management Product, Securities Services Asia Pacific
O’Delle Burke is the Head of J.P. Morgan Agency Collateral Management Asia Pacific. Based in Hong Kong, Burke is responsible for executing product strategy and developing collateral management solutions for derivatives, repos and securities lending across the region.
Burke began his career with J.P. Morgan after joining the firm’s undergraduate management development program in New York in 1996. He spent 8 years within Finance for the firm’s Treasury & Securities Services (“TSS”) business, where he held roles in Client Profitability and MIS Analysis. After which he joined Investor Services where he served for 12 years and held various roles covering markets in Europe, United States and Canada. Prior to his current position, he was the Product Manager in the United States for J.P. Morgan Broker Dealer Services and Collateral Management.
He holds a Bachelors of Science degree in Finance, Business Management and Economics and is a member of the International Swaps and Derivatives Association (“ISDA”) and the Securities Industry and Financial Markets Association (“SIFMA”).
Managing Director, Head of Tokyo Operations
GOLDMAN SACHS JAPAN
Masahiro is head of Tokyo Operations and Asia Pacific Banking Investing Lending Operations.
He also serves as a director of Goldman Sachs Japan Services Co., Ltd., as well as a member of the Goldman Sachs Japan Co., Ltd. Finance Committee, Japan Operations Diversity Forum and Japan Federation Leadership Group.
Director and Business Manager for Collateral Management and Segregation
Toru started his career at the Bank of New York, Tokyo Branch as Asia Product Manager and is currently Business Manager for Collateral Management and Segregation Japan at The Bank of New York Mellon Securities Company Japan Limited (BNYMSJ). His responsibilities include overseeing BNY Mellon Tokyo collateral business, managing Tokyo staff, proposing product solutions to clients, making product presentations, discussing with local regulators and legal counsels.
Toru is a board member of BNYMSJ.
Toru received B.S. in marketing from Indiana University at Bloomington and his M.B.A. in Finance from University of Illinois at Urbana-Champaign. He is a CFA holder.
Head of Equity Finance Support Section
Kanako Hayashizaki has been the Head of Equity Finance Support Section in the GM Operations Department at Nomura Securities since 2015. She is responsible for providing operational services relating to the Stock Lending Business for JP Equity. She started her career at the financial industry at Morgan Stanley Tokyo working in Equity Operations. She then moved to London for family reasons and joined MUFG Bank London working in a Project Management team where she supported main frame system migrations for European branches. After she moved back to Japan in 2005, she joined Lehman Brothers working in Sales Support for Cash Equity and moved to Nomura Securities.
Collateral Management Group, Inter-Market Settlement Department
SUMITOMO MITSUI BANKING
1998 to 2019 worked at Sumitomo Mitsui Banking Corporation, mainly working for FX, Money, derivatives market .During the years worked at derivatives subsidiary at NY. After Lehman shock, focused to establish CCP workflow, and derivatives regulation framework.
Ph.D. candidate in engineering (Tokyo University)
MBA (Tsukuba University)
BA in Economics (Hitotsubashi University)
MITSUBISHI UFJ MORGAN STANLEY SECURITIES Co. Ltd.
Dr. Shinichiro Itozaki is a Senior Manager of Financial Engineering Division at Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Dr. Itozaki is responsible for planning and quantitative research of XVA, ISDA SIMM, interest rate benchmark reform, and OTC derivatives market reform in general. Dr. Itozaki received a Ph. D. in Mathematical Sciences from the University of Tokyo.
BNY Mellon Markets - Japan Cross Sales /Director
Shinya is Director at The Bank of New York Mellon Securities Company Japan Limited. He is responsible for Collateral Management, Segregation, Securities Finance, and Liquidity Services at BNY Mellon Markets Japan, providing local financial institutions and foreign financial institutions with various type of services.
Shinya's career in Finance began with JPMorgan’s Corporate Trust Business in 2005. He managed Securitization of Real Estate, Monetary Claims and other assets. Shinya joined BNY Mellon in 2009 as a part of the business swap between JPMorgan and BNY Mellon Since 2012, he has been engaged in and taking a leading role of the aforementioned BNY Mellon Markets activities and services.
General Manager of Credit Management Office
Naoki Kasai is the General Manager of Credit Office at Mizuho Bank where he is charge of XVA hedge, counter party risk management, collateral management, documentation and client clearing service for CCP. He has spent most of his career in the derivative field.
Prior to this role, from September 2009 to March 2017, he was responsible for hedging operations for JPY interest rate risks in the bank portfolio. From December 2005 to September 2009, he was in charge of market risk management in Mizuho Capital Markets (UK), Ltd. From March 2004 to December 2005, he was responsible for market risk management in Mizuho Capital Markets Corporation, Ltd. From May 1996 to March 2004, he was a trader for interest and currency derivatives for Mizuho Corporate Bank, Ltd. and Fuji Bank, Ltd.
Senior Market Specialist
Artur has been working over 12 years in Capital Markets. He joined Calypso in 2012 and has specializing in Collateral and Post Trade Processing.
Department Manager, Equities & Derivatives Business Division
Tomoaki Kinoshita is the head of Securities Lending Business Unit at Rakuten Securities, Inc. He has over 20 years’ experience in the securities lending industry and used to work for Japan Trustee Services Bank, Ltd. as a senior trader and Mizuho Securities Co., Ltd. as the head of pan Asia equity finance.
Director, Financial Engineering Group Fixed Income, Currency and Commodities (FICC) Dept.
Satoshi Kumeta is Head of XVA in FICC, where he owns planning and development of XVA accounting and regulation such as FRTB-CVA, and management CVA hedge to control P&L as well. He belonged to model development division in MUFG Bank and Mitsubishi UFJ Securities as Quants for more than 10 years prior to joining Daiwa Securities, and responsible for model development of plain vanilla/exotic products mainly for commodity and interest rate. He also contributed to introduction of OIS discounting and CVA accounting. Satoshi has Bachelors and Masters in Mathematics from Tokyo Institute of Technology.
Vice President, Collateral Management
1989 Joined Fuji Bank and associated with sales, loans, general banking business. Have experience in International Treasury Division (USD MM dealing), Market Risk Assessment Division (Risk Management), Indonesia subsidiary (Head of Treasury/Middle/Back office), Settlement & Business Planning Department, Loan/Trade and Services Department (PM for SWIFT related projects), Intl. Market Business Operations Department (Head of MM, funds control and Collateral Management). ALM Dept. and been associated with Collateral Management since 2010.
Director of International Financial markets (Settlements)
FINANCIAL SERVICES AGENCY OF JAPAN
Mr. Mochizuki joined the Financial Services Agency (JFSA) in 2006. He started his career at JFSA in the Office of International Affairs and, for the last several years, he has been involved in issues related to OTC derivatives reforms and to regulation/supervision of financial market infrastructures. In this context, he has been actively involved in the work of FSB as well as CPMI-IOSCO.
Before Joining JFSA, he had worked for several investment banks in Tokyo. He holds a Master of Economics from the Graduate School of Kobe University (1996).
Executive Director, Head of Collateral Risk Management, Corporate & Investment Bank, Asia Pacific
JPMORGAN SECURITIES CO., LTD
Christopher Moores is the Asia Pacific Risk Manager for Collateral within the Corporate & Investment Bank. Based in Tokyo, he is primarily responsible for the collateral risk management of counterparty exposure arising from the firm’s non-cleared derivatives activities.
After earlier experience in Finance, Middle Office and Market Risk he joined J.P. Morgan in 1999 and has served in a variety of roles risk managing Counterparty Credit Exposure and CVA/XVA within the firm’s Credit Portfolio Group.
In his current position much of his time in recent years has been devoted to the firm’s project implementations to meet Non-Cleared Derivatives Margin (NCDM) requirements.
Trevor has worked in Investment Banking for over 20 years, starting his career at Salomon Brothers working in Fixed Income Operations. This was followed by positions on the Equity Lending Desk and in Convertible Bond Sales. After a move to Deutsche Bank working on the Repo Trading Desk he moved into Collateral Management and has spent 15 years in this field. Initially heading up the Collateral New Business Team, he then moved on to manage the EMEA Margining Team responsible for OTC, Repo and FX Margining. Trevor then moved to the vendor side, joining Algorithmics in 2008. He has worked as an SME within Product Development, Strategy and PreSales for the last ten years for Algorithmics, IBM and now Smartstream. Trevor holds a Degree in Economics and Politics.
Director, Head of RM & Business Development - Japan
Hiroshi began his career with Manufacturers Hanover Trust Company, and went through the series of mergers, Chemical Bank, Chase Manhattan Bank, and JP Morgan. Hiroshi served as a Corporate Finance officer at the firm’s New York Japan Desk from 1993 to 1999. After he returned to Tokyo, he joined Corporate Trust group in JPMorgan and worked on various securitized products as Japan Trustee. As a result of the business swap between JP Morgan and BNY Mellon, he joined BNY Mellon in 2009, and moved to Broker Dealer Services (BDS) in 2010. Since then, he has worked on a number of collateral management transactions. BDS has changed its name to BNY Mellon Markets in 2015. He also covers securities finance products while expanded the scope of collateral management to derivative spaces in relation to the regulatory required Initial Margin segregation in addition to securities lending / repo related collateral management.
Managing Director, Asia Pacific & Japan
Shawn Paul is Managing Director CloudMargin Pte Ltd, the Fintech collateral management firm (an IHSMarkit portfolio company). Previously he was Director of Wolters Kluwer risk and compliance business. Shawn has been responsible for industry platforms such as FRSGlobal, Iris, SAASGAS and FinArch. Prior to Wolters Kluwer he worked with Calypso growing the companies Asia Pacific business.
Shawn’s career began as a manager with the Commonwealth bank in Australia. Shawn also works as an investor and coach with FinTech and other start-ups in the Asia Pacific region.
MICHAEL REEVES CONSULTING
Michael is based in Japan, specialising in central counterparty clearing (CCP), collateral management, and global regulation. Recently he has worked extensively with fintechs specialising in blockchain on technical solutions to support collateral management and asset servicing.
With experience going back to the original design of SwapClear, Michael has worked with CCPs, including JSCC and ASX, helping them design clearing services that meet current regulatory demands.
Director, Head of Market Infrastructure Group
BANK OF JAPAN
Education: 2001, B.A. in Law, The University of Tokyo
Apr. 2001 Joined the Bank of Japan
July 2006 Financial Markets Department
July 2009 Monetary Affairs Department
Apr. 2010 Associate Director, Monetary Affairs Department
Apr. 2011 Deputy Director, Monetary Affairs Department
July 2011 Deputy Director, Financial System and Bank Examination Department
June 2013 Director, Operations Department
June 2016 Director, Financial System and Bank Examination Department
June 2018 Director, Head of Market Infrastructure Group, Financial Markets Department
SVP / Head of Global Securities Business Group
SUMITOMO MITSUI BANKING
Hiroshi Suzuki is in charge of Secured Financing Products in SMBC and responsible for its promotion, expanding business with financial institutions and various firms which have lots of securities and would like to utilize them effectively. Suzuki graduated from Tokyo University with economics faculty and joined SMBC in 2000, starting his career with business promotion and relationship management with Japanese companies. From 2002 to 2008, Suzuki had been engaged in business planning and promotion with regard to capital market business. Suzuki has been leading secured financing business of SMBC since 2009. Suzuki has 10 years of experience in this field.
Deputy Head of Transaction Legal, Executive Director
Hiroaki Usui is an Executive Director of Transaction Legal Dept. at Nomura Securities. He covers legal and regulatory issues mainly relating to OTC derivatives.
2019 conference highlights:
- Keynote address from top Japanese regulatory body on global and domestic regulatory landscape
- Practical insights on managing margin requirements and collateral challenges
- Topical discussion around CVA pricing, margin calculations and functioning of repo market
- New, interactive sessions led by experts on IM management, tri-party collateralization and auto allocation
- Masterclasses on MiFID II, OTC derivatives trading regulatory data
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of March 31, 2019, BNY Mellon had $34.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).
Calypso Technology, Inc. is a cloud-enabled provider of cross-asset front-to-back solutions for financial markets with over 35,000 users in 60+ countries. Its award-winning software improves reliability, adaptability, and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury, liquidity, and collateral. Calypso is leveraging innovative cloud microservices and blockchain distributed ledger technology (DLT) based solutions to reduce trading costs and improve time to value.
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2019 IHS Markit Ltd. All rights reserved.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
With our presence dating back to 1872 in Asia Pacific, we have enjoyed over 140 years of success in serving clients in the region. Our Corporate & Investment Bank is a leader across banking, markets and investor services. Each business is linked to our global network to offer clients industry specific expertise and resources, as well as regional market insight. This integrated approach further positions J.P. Morgan as the provider of choice to offer strategic advice, raise capital, manage risk and extend liquidity to clients in markets around the region and the world.
Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
For more than 30 years, Murex has been providing enterprise-wide, cross-asset financial technology solutions to capital markets players. Its cross-function platform, MX.3, supports trading, treasury, risk and post-trade operations, enabling clients to better meet regulatory requirements, manage enterprise-wide risk, and control IT costs. With more than 50,000 daily users in 60 countries, Murex has clients in many sectors, from banking and asset management to energy and commodities.
Murex is an independent company with over 2,000 employees across 17 countries. Murex is committed to providing cutting-edge technology, superior customer service, and unique product innovation.
SmartStream provides Transaction Lifecycle Management (TLM®) solutions and Managed Services to dramatically transform the middle and back-office operations of financial institutions. Over 1,500 clients, including more than 70 of the World's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream's solutions.
SmartStream delivers greater efficiency, automation and control to critical post trade operations including: Reference Data Operations, Trade Process Management, Confirmations and Reconciliation Management, Corporate Actions Processing, Fees and Invoice Management, Collateral Management, Cash & Liquidity Management and Compliance Solutions. Used independently or as a suite of solutions and services, clients gain a lower cost-per-transaction whilst reducing operational risk, aiding compliance and improving customer service levels.
For more information about SmartStream visit: www.smartstream-stp.com
About CME Group
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana