Your Asia OTC Derivatives Clearing and Reporting Update

Volume 1, 2016

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Hong Kong

  • Hong Kong regulators publish proposed rules for mandatory clearing and expanded mandatory reporting
  • SFC enters into MoUs with ESMA and CFTC
  • HKMA issues consultation paper on margining and other risk mitigation standards for non
        centrally cleared OTC derivatives transactions
  • Financial Institutions (Resolution) Bill gazetted
  • OTC Clear granted DCO registration exemption

Singapore

  • MAS consultation on margin requirements for non-centrally cleared OTC derivatives
  • Revisions to OTC derivatives reporting regime

China

  • CME and CFETS sign MoU to strengthen collaborations
  • INE publishes draft clearing rules for consultation

Japan

  • JSCC introduced non-JPY interest rate swaps clearing and cross-margining
  • JSCC granted DCO registration exemption
  • Publication of the second consultation draft of non-cleared derivatives margin rules

Australia

  • Further steps toward a central clearing mandate
  • Introduction of single-sided reporting for certain OTC derivative transactions
  • Limited application of Derivative Transaction Rules to Australian Financial Services Licensees

India

  • CCIL publishes consultation paper on Central Counterparty ("CCP") recovery and resolution mechanism
  • CCIL proposes integration of the Forex Forward Segment and Forex Settlement Segments

Korea

  • KRX amends membership regulation
  • KRX expands the scope of mandatory clearing
  • FSC designates KRX as trade repository
  • KRX granted DCO registration exemption

Others

  • EU, U.S. and International Developments