ANNUAL
REPORT
2007
年报
财资市场公会 Treasury Markets Association
CONTENTS 目 录
2-3 4-7 8-24
Honorary President ' s Message 荣誉会长致辞 Chairman ' s Report 主席报告 About the Treasury Markets Association 财资市场公会简介 Background 背景 Mission 宗旨 Organisation Structure 组织架构 Council 议会 Executive Board 理事会 Committees 委员会 Membership Profile 会员概况 Report of Committee Work 委员会工作报告 Professional Membership Committee 会员事务委员会 Market Development Committee 市场发展委员会 Market Practices Committee 市场准则委员会 External Affairs Committee 外事委员会 Finance and Administration Committee 财政委员会 Auditor ' s Report and Financial Statements 核数师报告及财务报表 Calendar of Major Events in 2007 二零零七年大事表
25-38
39-50 51-52
Treasury Markets Association 财 资 市 场 公 会
Honorary President's Message
荣 誉 会 长 致 辞
Mr Joseph Yam, GBS, JP
Chief Executive Hong Kong Monetary Authority
2007 was another fruitful year for the Treasur y Markets Association, which built on the solid work of its founding year and made important progress in its mission of promoting the professionalism and competitiveness of Hong Kong's treasury markets. One essential feature of a successful international financial centre is the ability to provide a full range of financial products and services geared to the needs of both the global markets and the local business environment. In the past year the Association brought together the best talent from the treasury markets to venture into new opportunities such as the development of the renminbi bond market and Islamic finance. I look forward to further such energetic and proactive efforts to enable us to stay ahead of the changing market needs. Given its continuing financial reform and liberalisation, the Mainland will continue to offer exciting opportunities for Hong Kong's treasury markets in the years to come. As the business links between Mainland and overseas financial institutions grow, and as the scope of products allowed to be traded expands, we will see greater demand for new investment and riskmanagement products. In the broader global context, Islamic finance has gained significant momentum in recent years. Hong Kong's treasury markets will benefit from this growth if we can develop Hong Kong into a platform offering Shariah-compliant financial services to Islamic countries and communities. In the past year, the TMA has done an excellent job of helping identify the prospects for and potential impediments to the development of a sukuk market in Hong Kong. Much work remains to be done but I am sure the TMA will continue to play an important role. Apart from capitalising on the new business opportunities, I hope the TMA will continue its good work in promoting Hong Kong's status as the treasury markets hub in the region. The Treasury Markets Summit held in Beijing in December 2007 demonstrated the synergy among the professionals in the treasury markets in promoting their products, services and financial infrastructure to Mainland financial institutions.

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