Hong Kong’s monetary regulators have introduced plans to harmonize the 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 modifications that may convey the town’s rules according to European and world practices.
The brand new guidelines, set to take impact on September 29, 2025, will mandate using Distinctive Transaction Identifiers (UTI), Distinctive Product Identifiers (UPI), and Essential Knowledge Components (CDE) for OTC derivatives reporting. These modifications purpose to facilitate worldwide standardization and harmonization of knowledge parts 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,
“On condition 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’ll accommodate using 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 knowledge fields to be “within the vary of that within the EU, the US, and different APAC jurisdictions,” placing a stability between complete reporting and operational effectivity for market members.
Moreover, Hong Kong will undertake the ISO 20022 XML message normal for OTC derivatives reporting, a transfer that has acquired broad assist from business stakeholders. This adoption will guarantee consistency with world reporting practices and facilitate cross-border knowledge sharing and evaluation.
These modifications characterize a notable step in Hong Kong’s efforts to keep its standing as a main worldwide monetary heart whereas guaranteeing regulatory alignment with main crypto and digital asset derivatives markets.
