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 of Asian markets.
At present, PASLA has 58 member firms, made up of:
18 Lenders
33 Borrowers
2 Alternative Investment Funds
5 Other
who are domiciled across five continents. PASLA Membership is open to both "international" firms, which are active in several markets, and "local" firms, which are active primarily in their home market.
Securities borrowing and lending is a very competitive business. While individual firms involved in the business may have their own unique marketing and business development strategies in Asia, the member firms believe that PASLA, as a collective group of major firms in the industry, provides an important benefit to Asian securities regulators, stock exchanges, and monetary authorities by providing an "industry consensus" on issues that affect the development of the securities lending business.
PASLA regularly conducts seminars and round-tables with regulatory authorities and market participants in the local markets. This has proved to be a successful formula by providing an open forum for discussion and exchange of information. Our feedback from regulators and exchange officials that PASLA has worked with to-date has been very positive and they have appreciated the ability to work with PASLA as an efficient means of liaising with the industry.
PASLA's aims are to:
To represent the common interests of institutions engaged in the lending or borrowing of securities in the Asian and International securities lending markets.
Assist in the orderly, efficient and competitive development of these markets.
Establish agreed global standards and good working practices taking into account local regulations.
Liaise with Regulators and other organisations to promote and develop appropriate regulatory frameworks for the industry.
To develop and maintain a standardised legal agreements for use in the securities lending industry.
PASLA wishes to offer its assistance in the further development of the securities lending business.
PASLA Executive Committee meets as and when required, the meetings are open to the General Membership. Meetings are held in Hong Kong and members from other countries can be conferenced in upon request.
