What is HKMA Reporting?
The rules for reporting of OTC derivatives in Hong Kong are jointly governed by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC).
Under this framework, the HKMA was mandated with establishing the Hong Kong Trade Repository (HKTR) and reporting commenced in 2015.
Similarly to most other G20 OTC derivatives reporting regimes, the reporting covers the credit, equity, FX, interest rates and commodities asset classes.
The HKMA regime prescribes the following entity types as being required to report:
- Authorised Institutions
- Approved Money Brokers
- Licensed Corporations
- Central Clearing Counterparties.
Following consultation, HKMA is implementing its own rewrite of the Hong Kong reporting rules, due to commence in 2024 (exact date TBD), but largely expected to align with or follow the commencement dates of the ASIC and MAS rewrites (October 2024).