The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today issued a joint consultation on adding eight new calculation periods under the Clearing Rules (Note 1) for the over-the-counter (OTC) derivatives regulatory regime (Note 2).
Interested parties are invited to submit comments to the HKMA or SFC by 21 January 2022. The joint consultation paper can be downloaded from the HKMA or SFC websites.
- The Securities and Futures (OTC Derivative Transactions – Clearing and Record Keeping Obligations and Designation of Central Counterparties) Rules.
- To meet the G20 commitments to reform the OTC derivatives markets, the HKMA and SFC have implemented a regulatory regime for OTC derivatives in Hong Kong. The regime provides for, among other things, the introduction of reporting, clearing, trading and record keeping obligations in respect of OTC derivative transactions. To date, two phases of mandatory reporting and one phase of mandatory clearing have been implemented.
This news item was originally published by the Securities and Futures Commission (SFC HK). For more information, please see the Source Link.