Asian financial firms face 'benchmark-aggedon' as tough EU rules near

HONG KONG (Reuters) - Banks and asset managers that use Asian benchmarks like the Hang Seng or Nikkei indices face a "perfect storm", with two major regulatory changes slated to take effect the same day, a financial industry group said on Tuesday. Financial contracts worth billions of dollars are based on the performance of certain benchmarks, while investment funds often track or hope to beat a benchmark's performance.However, global authorities, particularly those in Europe, are now seeking to..