2022年1月6日
资讯洞见
The Securities and Futures (OTC Derivative Products) Notice and the Securities and Futures (Stock Markets, Futures Markets and Clearing Houses) (Amendment) Notice 2018 were gazetted on 23 February 2018 and will take effect from 27 April 2018. Each has the effect of narrowing the range of transactions that need to be reported or cleared under Hong Kong’s mandatory reporting and clearing obligations for OTC derivative transactions.
The Securities and Futures (OTC Derivative Products) Notice excludes Delta One Warrants (i.e. call warrants with a strike price set as zero or close to zero) from the scope of “OTC derivative product” under the Securities and Futures Ordinance (SFO). The Securities and Futures (Stock Markets, Futures Markets and Clearing Houses) (Amendment) Notice 2018 adds to the list of stock markets, futures markets and clearing houses, with the effect that products traded on those markets and cleared through those clearing houses are excluded from the scope of “OTC derivative product” under the SFO.
As a result of such exclusions, the relevant transactions will no longer be “OTC derivative products” and so will no longer be subject to Hong Kong’s mandatory reporting and clearing obligations for OTC derivative transactions.
