norman t l chan : hkma fintech day speech by mr norman t l chan, chief executive of the hong kong monetary authority, at hkma fintech day, hong kong, 11 november 2016. * * * my, george, julia, frank, herman, albert, distinguished guests, ladies and gentlemen, 1. it gives me great pleasure to welcome you all to this hkma fintech day, which is part of the fintech week. today we have a great gathering with speakers and participants from diverse background of the financial and technology sectors, including banks, stored value facility ( svf ) operators, fintech firms, fintech investors, regulators and many others. i am sure the discussions today both on and off the stage will be extremely interesting. 2. the event today is organized by the fintech facilitation office ( ffo ) of the hkma together with our three strategic partners : the applied science and technology research institute ( astri ), cyberport and the hong kong science and technology parks ( the science park ). as you are aware, we set up the ffo in march this year with the mission to facilitate the development of fintech in hong kong. 3. in the last few months, the ffo has organized many activities to bring together users and solution providers of fintech, so as to build an ecosystem to promote the adoption of new technologies in the banking sector. the ffo will continue to develop this collaborative platform together with astri, cyberport and the science park. in a few moments the hkma will be signing a memorandum of understanding with each of them to formalize the framework of cooperation. 4. now i would like to report on the latest progress of four major fintech projects launched by the ffo earlier. first, following my announcement of the launch of the cybersecurity fortification initiative ( cfi ) in may, the ffo has been making very good progress in developing the three pillars of the cfi. a three month industry consultation of the first pillar of cfi, the cybersecurity resilience assessment programme, was completed in august, with positive responses from the banking sector. taking into account the comments received, the ffo is finalising the assessment programme and will announce the detailed framework next month for implementation by banks in hong kong. regarding the second pillar of the cfi, the cybersecurity intelligence sharing platform, again good progress is being made. the computer platform will be in

norman chan : the new membership regime of aci - the financial markets association of hong kong remarks by mr norman chan, deputy chief executive of the hong kong monetary authority and chairman of treasury markets forum of hong kong, at the cocktail reception to mark the new membership regime of aci - the financial markets association of hong kong, hong kong, 14 october 2004. * * * good afternoon ladies and gentlemen, i am pleased to welcome you all to this reception to mark the successful launch of the new membership regime of aci - the financial markets association of hong kong, and the introduction of accredited educational programmes for market practitioners. this is a major milestone in raising the professionalism of treasury market practitioners in hong kong. the treasury markets forum of hong kong was established in march this year with a view to promoting co - operation and synergy to raise the professionalism of practitioners and the overall competitiveness of the treasury markets in hong kong. the forum brings together the providers, users and intermediaries in treasury markets, including representatives of hong kong association of banks, aci - the financial markets association of hong kong, hong kong capital markets association, hong kong association of corporate treasurers, dtc association and hong kong foreign exchange and deposit brokers ’ association, to consider how we can co - operate in raising the professionalism of market practitioners. i am pleased to report that we are made major progress in raising the professionalism of treasury market practitioners. treasury markets comprise a wide range of products including foreign exchange, fixed income, derivatives and so on. the boundaries between various markets have become blurred alongside more innovative and sophisticated structuring of new products. whether dealing, sales or back - office staff in treasury markets all require strong technical, up - to - date knowledge in order to cope with the rapid changes in treasury markets. in the discussions between the treasury markets forum and aci - the financial markets association of hong kong on the design of the new membership scheme, we consider that there is a need to bring together qualifying practitioners from various treasury markets. this can facilitate the exchange of views among practitioners within the industry on the one hand and promote the professional standing of practitioners on the other hand. in addition, accredited educational programmes should be introduced to raise the professionalism of practitioners and provide training to those who are interested to join the industry. following the active co - ordination among industry bodies, i am glad that the aci - the financial markets association of hong kong has successfully launched the new membership regime and made