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The Treasury Markets Association (TMA) announced its establishment today (January 23).
The mission of the TMA is to further promote the professionalism and competitiveness of the treasury markets in Hong Kong, through developing appropriate codes and standards for the treasury markets, promoting market and product development, enhancing the professionalism of market practitioners, and promoting the profile of Hong Kong's treasury business.
The TMA has two types of members ﷿ institutional members and individual members. Institutional members include financial institutions, brokers, and corporates involved in the treasury markets. Practitioners working in these markets including those who are working in the front office, middle office and back office may join as individual members.
The management of the TMA is entrusted to the Executive Board of the TMA. Members sitting on the Executive Board include professionals coming from various sectors of the treasury markets. The composition of the Executive Board is at Annex 1. The TMA has a Council to provide strategic advice to the Executive Board on matters relating to the development of the treasury markets. The Council, chaired by Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, consists of senior executives in the banking and treasury industries and prominent academics. The composition of the Council is at Annex 2. Five committees have been set up to assist the Executive Board to carry out its work. These include the Codes and Standards Committee, Market and Product Development Committee, Professional Membership Committee, Publicity and Communications Committee, and the Finance and Administration Committee.
"I am very pleased with the markets' strong support for the establishment of the TMA. With the efforts and support of our members, I believe that the TMA will be able to make useful contributions to further develop the treasury markets of Hong Kong and strengthen Hong Kong's role as an international financial centre," said Mr Joseph Yam, Honorary President of the Council of the TMA.
"The TMA will consider and take forward initiatives which are conducive to the long term development of the Hong Kong treasury markets, such as the development opportunities and participation in the Mainland treasury markets," said Mr Choi Yiu Kwan, Chairman of the Executive Board of the TMA.
The TMA is formed by institutionalising the previous Treasury Markets Forum of Hong Kong and the merger with the ACI-The Financial Markets Association of Hong Kong.
Ends/Monday, January 23, 2006
Issued at HKT 16:32
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