Amid the eonomic turmoil, a little-known entity has steadfastly worked to promote competitiveness and professionalism in Hong Kong's treasury markets.
The Treasury Markets Association (TMA) was created in 2006 by merging the Treasury Markets Forum and the Financial Markets Association of Hong Kong.
The TMA's functions are to develop appropriate standards and codes for treasury markets, promote product and market development, boost the professionalism of market participants and promote Hong Kong as a treasury business hub in the Asia-Pacific region.
To help alleviate the effects of the global economic crisis, the TMA has provided an array of topical and timely seminars for its members - on risk controls, advanced technical analysis and stress management.
'We have also strengthened ... co-operation with other relevant organisations, both on the mainland and overseas, such as ACI and ICMA,' said Stephen Ng, the TMA's chief operations officer.
He added that most local universities had collaborated with the body on certificate programmes of 40 hours each. 'This will enhance our members' knowledge in both theory and practical skills. We have also introduced a Model Code examination,' he said.
As for ensuring the professionalism of all market participants, the TMA has stood firm in upgrading training and updating knowledge of the markets. For example, greater continuing professional training has been requested by members since the body's conception.