Tuesday October 6 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/consultation/openFile?refNo=15CP4
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) have been working with the Hong Kong Government and stakeholders on developing a regulatory regime for the over-the-counter (OTC) derivatives market in Hong Kong.
The Securities and Futures (Amendment) Ordinance 2014 was passed by the legislature in March 2014. This piece of legislation introduced mandatory reporting, clearing, trading and record keeping obligations in respect of OTC derivative transactions.
The consultation focuses on HKMA’s next goal which is to:
- introduce mandatory central clearing for certain standardised interest rate swaps; and
- expand the existing mandatory reporting regime so that it covers all OTC derivatives, and requires the reporting of certain additional transaction information.
Click on the link above for further details.