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Annual update to list of Financial Services Providers under OTC derivatives regulatory regime
The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today (June 28) issued joint consultation conclusions on the annual update to the list of Financial Services Providers (FSP List) (Note 1) under the Clearing Rules of the over-the-counter (OTC) derivatives regulatory regime.

     Having considered the market feedback, the HKMA and SFC will proceed with the proposed changes to the FSP List as set out in the joint consultation paper (Note 2). The consultation conclusions paper and the updated FSP List are available on the websites of the HKMA and SFC (Note 3).

Note 1: The FSP List includes entities that meet the following two criteria:
(i) They belong to a group of companies appearing on the list of global systemically important banks published by the Financial Stability Board, or on the list of dealer groups which undertook to the OTC Derivatives Supervisors Group to work collaboratively with central counterparties, infrastructure providers and global supervisors to make structural improvements to the global OTC derivatives markets; and
(ii) They are clearing members of the largest central counterparties offering clearing for interest rate swaps in the United States, Europe, Japan and Hong Kong.

Note 2: See the April 2023 joint consultation paper on the annual update to the FSP List.

Note 3: The updated FSP List will be gazetted during the fourth quarter of 2023 for implementation on January 1, 2024.
Ends/Wednesday, June 28, 2023
Issued at HKT 18:28
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