FIA preparing joint response on Hong Kong Mandatory Clearing Consultation

The HKMA and the SFC have jointly issued a public consultation on the introduction of mandatory clearing of OTC derivatives and to expand the existing mandatory OTC derivatives trade reporting regime. The first phase of mandatory clearing aims to mandate the clearing of certain standardised IRS entered into between major dealers. FIA is working jointly with ISDA and ASIFMA on a submission. Comments close on 31st October 2015.