The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) today issued joint consultation conclusions on the annual update to the list of Financial Services Providers (FSP List) (Note 1) under the clearing obligation for OTC derivative transactions (Note 2).
Pursuant to market feedback, the HKMA and the SFC will proceed with their proposals on the FSP List in the joint consultation (Note 3) with some fine tuning. The consultation conclusions paper can be downloaded from the websites of the HKMA or the SFC.
|__||(a)_||They belong to a group of companies appearing on the list of global systemically important banks published by the Financial Stability Board, or on the list of dealer groups which undertook to the OTC Derivatives Supervisors Group to work collaboratively with central counterparties, infrastructure providers and global supervisors to continue to make structural improvements to the global OTC derivatives markets; and|
They are members of the largest central counterparties offering clearing for interest rate swaps in the United States, Europe, Japan and Hong Kong.