Subsidiary legislation to adjust scope of products regulated under over-the-counter derivatives regulatory regime in Hong Kong gazetted
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The two notices seek to carve out the following products from the scope of OTC derivative products regulated under the Securities and Futures Ordinance (Cap. 571):
(a) products traded on and cleared through additional markets and clearing houses prescribed; and
(b) Delta One Warrants, a certain type of call warrant with a strike price set at zero or close to zero.
These products are not typically regarded as OTC derivatives. The exclusion of these products from the regime will help reduce compliance costs.
The two pieces of subsidiary legislation will be tabled before the Legislative Council on February 28, 2018, for negative vetting. They will come into operation on April 27, 2018.
Ends/Friday, February 23, 2018
Issued at HKT 11:00
Issued at HKT 11:00
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