The HKMA and SFC have concluded annual updates to the Financial Services Providers list under the OTC derivatives regulatory regime. The list includes entities that belong to specific global banks and are clearing members of large central counterparties.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On 26 June 2025, the Hong Kong Monetary Authority ("HKMA") and the Securities and Futures Commission ("SFC") released joint consultation conclusions on annual updates to the Financial Services Providers ("FSP") List under the over-the-counter ("OTC") derivatives clearing regime.
The HKMA and SFC intend to implement the proposed changes to the FSP List following careful consideration of market feedback. The updated list is scheduled to be gazetted by the end of 2025 and will come into effect on 1 January 2026.
The FSP List consists of entities that:
1. Are part of a group of companies listed in the global systemically important banks' publication by the Financial Stability Board;
2. Are dealer groups that have agreed to collaborate with central counterparties, infrastructure providers, and global supervisors;
3. Are clearing members of the largest central counterparties offering clearing services for interest rate swaps in the United States, Europe, Japan, and Hong Kong.
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