Hong Kong’s monetary regulators have introduced plans to harmonize town’s over-the-counter (OTC) derivatives reporting regime, together with crypto derivatives, with worldwide requirements. The Hong Kong Financial Authority (HKMA) and the Securities and Futures Fee (SFC) launched a joint session conclusion outlining adjustments that may convey town’s laws in keeping with European and world practices.
The brand new guidelines, set to take impact on September 29, 2025, will mandate the usage of Distinctive Transaction Identifiers (UTI), Distinctive Product Identifiers (UPI), and Important Knowledge Parts (CDE) for OTC derivatives reporting. These adjustments intention to facilitate worldwide standardization and harmonization of information components reported throughout world OTC derivatives reporting regimes.
Notably, the regulators have addressed the rising subject of digital asset derivatives. Because the HKMA and SFC reported,
“Provided that the Digital Token Identifier (DTI) has been proposed as an allowable reportable worth within the upcoming session of model 4 of the CDE Technical Steering, we are going to accommodate the usage of DTI in our reporting necessities.”
This transfer aligns Hong Kong with European efforts to standardize digital asset identification in monetary reporting.
The regulators have additionally streamlined the variety of mandated information fields to be “within the vary of that within the EU, the US, and different APAC jurisdictions,” putting a steadiness between complete reporting and operational effectivity for market members.
Moreover, Hong Kong will undertake the ISO 20022 XML message commonplace for OTC derivatives reporting, a transfer that has acquired broad help from business stakeholders. This adoption will guarantee consistency with world reporting practices and facilitate cross-border information sharing and evaluation.
These adjustments characterize a notable step in Hong Kong’s efforts to preserve its standing as a main worldwide monetary middle whereas making certain regulatory alignment with main crypto and digital asset derivatives markets.
