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

On December 20, 2024, the Securities and Futures Commission ("SFC") and the Hong Kong Monetary Authority ("HKMA") 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 September 29, 2025. Licensed Corporations that may be subject to mandatory reporting obligations are advised to refer to them.

**Links to the FAQs and SRI**:
https://www.sfc.hk/en/faqs/OTC-derivatives
https://hktr.hkma.gov.hk/ContentDetail.aspx?pageName=HKTR-RPT-Administration-and-Interface-Development-Guide

**Contact Information**:
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 该邮件地址已受到反垃圾邮件插件保护。要显示它需要在浏览器中启用 JavaScript。.
For questions about the policy or regulatory requirements, please email to 该邮件地址已受到反垃圾邮件插件保护。要显示它需要在浏览器中启用 JavaScript。 (for Licensed Corporations and Central Counterparties) or to 该邮件地址已受到反垃圾邮件插件保护。要显示它需要在浏览器中启用 JavaScript。 (for Authorized Institutions).