In response to the international reforms aimed at standardising the reporting of OTC derivatives, Hong Kong is poised to implement a comprehensive re-write of its OTC derivatives reporting rules, effective from 29 September 2025.
This article provides an in-depth analysis of the forthcoming changes, juxtaposing them with the reforms already enacted in the EU, UK, Singapore, and Australia. It offers a detailed overview of the new requirements, including the adoption of Unique Transaction Identifiers (UTI), Unique Product Identifiers (UPI), and ISO 20022 XML standards. Market participants will gain valuable insights on how to adequately prepare for these changes and ensure compliance with the enhanced reporting obligations.
