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    HKMA and SFC Publish Conclusions on OTC Derivatives Regulatory Regime

    June 27, 2017

    HKMA and SFC published conclusions on a joint consultation paper that proposed adjusting the scope of OTC Derivative Product under OTC derivatives regulatory regime. These two agencies have concluded that the proposed adjustments should be implemented, after taking market feedback into consideration. HKMA and SFC will work with the Department of Justice on drafting the necessary legislative amendments to implement the changes.

    One adjustment proposed to prescribe certain additional markets and clearing houses so that products traded and cleared through them will not be regarded as OTC derivative products. Another adjustment proposed to exclude Delta One Warrants from the definition of OTC derivative product. The conclusions paper also provides further clarification as to how Delta One Warrants will be defined.

    Keywords: HKMA, Hong Kong, Asia Pacific, OTC Derivatives, Securities, SFC, Delta One Warrants

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