Regulatory Alerts2026-06-05
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Joint consultation conclusions on proposed amendments to the Clearing Rules for over-the-counter derivative transactions
The Hong Kong Monetary Authority and the Securities and Futures Commission propose amending the Clearing Rules to replace ad hoc legislative updates with a permanent framework designating annual March-May and September-November periods as Calculation Periods. This structural change eliminates the need for future statutory amendments to add new periods while maintaining the existing US$20 billion clearing threshold and operational arrangements. Following broad industry support, the regulators intend to table the draft amendments for Legislative Council vetting by the third quarter of 2026, with the new periodic structure taking effect on 1 March 2027.
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