The HKMA and SFC are jointly consulting on further enhancements to OTC derivatives reporting and clearing obligations.

Key Points:

..The HKMA and the SFC have proposed mandating the use of UTIs for the reporting obligation, revising the list of jurisdictions designated by the SFC for masking relief in respect of the reporting obligation, and updating the FSP list in respect of the clearing obligation.

..The enhancements to the reporting obligation align with recent international developments in the OTC derivatives space.