Circular to Licensed Corporations - Updated FAQs and Reporting Instructions for OTC Derivatives Reporting

The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) today jointly published a revised version of Frequently Asked Questions on the Securities and Futures (OTC Derivative Transactions – Reporting and Record Keeping Obligations) Rules (FAQs). At the same time, the HKMA issued a revised version of Supplementary Reporting Instructions for OTC Derivative Transactions (SRI) to provide further guidance and reporting instructions for over-the-counter (OTC) derivatives trade reporting.

The revised FAQs and SRI are published in furtherance of the consultation conclusions issued by the two regulators in September 2024 on the mandatory use of Unique Transaction Identifier, Unique Product Identifier, the reporting of Critical Data Elements and the adoption of the ISO 20022 standard. Both the revised FAQs and revised SRI will take effect from 29 September 2025. Licensed Corporations that may be subject to mandatory reporting obligation are advised to refer to them.

Link to the FAQs:

https://www.sfc.hk/en/faqs/OTC-derivatives

Link to the SRI:

https://hktr.hkma.gov.hk/ContentDetail.aspx?pageName=HKTR-RPT-Administration-and-Interface-Development-Guide

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

Supervision of Markets Division

Securities and Futures Commission