Circular to Licensed Corporations OTC Derivatives Trade Reporting - Reporting Proprietary Rates Under Floating Rate Index Related Data Fields

Yesterday the Hong Kong Trade Repository (HKTR) made an announcement about reporting proprietary rates under floating rate index related data fields for over-the-counter (OTC) derivatives trade reporting.

With reference to HKTR’s announcement dated 2 November 2020 and the revised Administrative and Interface Development Guide ("AIDG") version 1.7, a new value, "Proprietary rates" is enhanced to the coding scheme "FloatingRateIndex" to support reporting of proprietary rates under the floating rate index related data fields. The testing environment is now available and reporting entities should start working on the technical requirements including system testing for reporting this value if applicable. The Securities and Futures Commission and the Hong Kong Monetary Authority will consider mandating the requirement for reporting the value in H1 next year.

Licensed Corporations that may be subject to mandatory reporting obligation are advised to refer to the announcement on HKTR’s website.

For questions about the service, operation and testing arrangement of the HKTR, please contact the HKTR at 8100 3115 or email to hktr@hkma.gov.hk. For questions about policy or regulatory requirements, please email to otc_enquiries@sfc.hk (for Licensed Corporations and Central Counterparties).

Supervision of Markets Division

Securities and Futures Commission