Monday November 23 2015
News Source: Global Exchanges
Focus: Other
Type: General
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/consultation/doc?refNo=15CP5
The Securities and Futures Commission (SFC) has released a consultation paper on proposed changes to update the Guidelines for the Regulation of Automated Trading Services.
The proposals reflect regulatory and market developments covering the following:
- the implementation of the regulation of over-the-counter (OTC) derivative transactions, setting out more specific requirements for central counterparties that wish to provide clearing services for OTC derivative transactions.
- Alignment of the guidelines with international standards and practices and codify existing practices.
Following the consultation, the SFC plans to implement the revised ATS Guidelines at the same time as the implementation of the subsidiary legislation for mandatory clearing obligation for OTC derivatives transactions, which is expected to be in mid-2016.
The public is invited to submit their comments to the SFC by 31 December 2015.
Click on the link above for further details