Hong Kong’s monetary regulators have introduced plans to harmonize 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 can convey town’s laws in step with European and international 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 Information Parts (CDE) for OTC derivatives reporting. These modifications goal to facilitate worldwide standardization and harmonization of information parts reported throughout international OTC derivatives reporting regimes.
Notably, the regulators have addressed the rising discipline 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 Steerage, we are going to 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 steadiness between complete reporting and operational effectivity for market individuals.
Moreover, Hong Kong will undertake the ISO 20022 XML message commonplace for OTC derivatives reporting, a transfer that has obtained broad help from business stakeholders. This adoption will guarantee consistency with international reporting practices and facilitate cross-border knowledge sharing and evaluation.
These modifications symbolize a notable step in Hong Kong’s efforts to take care of its standing as a number one worldwide monetary middle whereas making certain regulatory alignment with main crypto and digital asset derivatives markets.