HKMA and SFC consult on enhancements to the OTC derivatives reporting regime

On 22 March 2024, the HKMA and the SFC finally released their Joint further consultation on enhancements to the OTC derivatives reporting regime for Hong Kong to mandate (1) the use of Unique Transaction Identifier, (2) the use of Unique Product Identifier and (3) the reporting of Critical Data Elements and Joint consultation conclusions on revising the list of designated jurisdictions for the masking relief (the “Consultation”).  As the title alludes, the Consultation is in two parts: the first part is a consultation to bring the trade reporting regime into step with other global developments, while the second part presents the consultation conclusions on the scope of masking relief.

The consultation ends on 17 May 2024. We would be delighted to assist you if you have any questions.