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Hong Kong publishes consultation on margin requirements for uncleared OTC derivatives transactions

21 December 2015

On 3 December 2015, the Hong Kong Monetary Authority (HKMA) published a consultation paper (the Consultation Paper) containing a draft module (the Margin Module) for the HKMA's Supervisory Policy Manual. The purpose of the Margin Module is to introduce margin requirements for uncleared OTC derivatives transactions for authorised institutions regulated in Hong Kong. The largest authorized institutions will need to exchange initial margin and variation margin with certain counterparties starting in September 2016, with the requirements expanding over time to cover a wide variety of market participants.

 

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