November 2, 2022

Interview with Allison Ching, Ed Cartwright and Roy Zimmerhansl

We are pleased to share the fourth episode in our current series hosted by Matt MacArthur with Gold Sponsor Equilend and Silver Sponsor Broadridge.

In this episode, recorded on 19th of October 2022, Allison Ching from BNP discusses the impact of restrictions in the Taiwan markets including the following points:

The reduction in the short sell quota 30% to 20% to 10% in the space of 2.5weeks led to in a fall in short sell turnover by approximately 20-25%.
A prediction that further restrictions in the run up to the November 2022 election are unlikely to include a short sell ban but may incorporate the extension of the uptick rule across all names.
Conjecture that there is unlikely to be any relaxation of the current limitations including the 18m cap, max borrow rate of 16%, and collateral restrictions in the short term.
Anticipation of an increase in lendable supply by 20% in 2023 based on demand and new lenders joining the market.

Ed Cartwright from UBS reviews the reasoning behind the diversification of team locations in the region and compares markets while anticipating which will be the most active in 2023.

Finally. we catch up with industry legend Roy Zimmerhansl who shares insights from his career across the decades.

Essential listening for anyone interested in Securities Finance in Asia. We look forward to delivering more podcasts throughout the year.