The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint consultation proposing to standardise the annual calculation periods used under Hong Kong’s OTC derivatives Clearing Rules to assess whether an entity is subject to the mandatory clearing obligation. Under the current approach, the list of calculation periods specified in the Clearing Rules needs to be updated regularly. The regulators propose amending the rules to designate two fixed calendar periods each year as calculation periods, from 1 March 2027 onwards: 1 March to 31 May and 1 September to 30 November. The change is intended to streamline operation of the rules and provide greater certainty to derivative dealers when identifying future calculation periods for compliance. Comments are due by 27 February 2026.
Hong Kong Monetary Authority 2026-01-29
Hong Kong Monetary Authority and Securities and Futures Commission consult on fixed annual calculation periods for mandatory OTC derivatives clearing
The Hong Kong Monetary Authority and the Securities and Futures Commission are consulting on standardizing annual calculation periods for Hong Kong’s OTC derivatives Clearing Rules, proposing fixed periods from 1 March to 31 May and 1 September to 30 November starting in 2027 to streamline operations and enhance certainty for derivative dealers. Comments are due by 27 February 2026.