Thursday September 1 2016
News Source: Global Exchanges
Focus: Other
Type: Lists
Country: Hong Kong
Link: http://www.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=16PR86
The Securities and Futures Commission (SFC) has designated four central counterparties (CCPs) for the purposes of the mandatory clearing obligation for certain over-the-counter (OTC) derivative transactions. The designation of one local CCP and three major overseas CCPs will provide a variety of choices for market participants who under Hong Kong law are subject to mandatory clearing, which will come into effect on 1 September 2016.
The four designated CCPs are:
- Chicago Mercantile Exchange Inc;
- Japan Securities Clearing Corporation;
- LCH.Clearnet Limited; and
- OTC Clearing Hong Kong Limited
Market participants may fulfil their mandatory clearing obligations by clearing their transactions through any of these designated CCPs.
Each of these designations has been granted subject to conditions which are available on the SFC website
Click on the link above for further details