On Apr. 19, HK SFC, HKMA proposed revised derivative provider list.
HK SFC, HKMA issued a joint consultation on the annual update to the list of financial services providers (FSP) under the over-the-counter (OTC) derivatives clearing regime.
Follows HK SFC Dec. 2023 published list of financial services providers, see #170445.
FSP Lists
Add Bank of Communications to the revised list of FSPs, following FSB's designation.
Proposes to keep UniCredit on the list despite removal from the Nov. 2023 list, and reflect change of name of existing FSP, UniCredit Bank AG, to UniCredit Bank GmbH.
HK SFC, HKMA will implement the proposed changes to the FSP list with a minor modification to reflect a post-consultation change in the status of an existing FSP.
Updated FSP list will be gazetted during Q4 2024 for implementation on Jan. 1, 2025.
Dec. 2024 List Published
On Dec. 6, 2024, HK SFC revised list of persons designated as FSPs; licensed persons must monitor their average total OTC derivatives positions during a calculation period.
If positions exceed the clearing threshold, those positions must be centrally cleared.
