HKMA and SFC conclude annual updates to Financial Services Providers list under OTC derivatives regulatory regime

The Hong Kong Monetary Authority (HKMA) and Securities and Futures Commission (SFC) today (26 June) issued joint consultation conclusions on the annual updates to the list of Financial Services Providers (FSP List) (Note 1) under the over-the-counter (OTC) derivatives clearing regime.

Having considered market feedback , the HKMA and SFC will implement the proposed changes to the FSP List as set out in the joint consultation paper (Note 2). The consultation conclusions paper and updated FSP List are available on the websites of the HKMA and SFC (Note 3).

Notes:

1. The FSP List includes entities that meet the following two criteria:

   
   

   (a) They belong to a group of companies that appears on either the list of global systemically important banks published by the Financial Stability Board, or the list of dealer groups which undertook to the OTC Derivatives Supervisors Group to work collaboratively with central counterparties, infrastructure providers and global supervisors to continue to make structural improvements to the global OTC derivatives markets; and(b)They are clearing members of the largest central counterparties offering clearing for interest rate swaps in the United States, Europe, Japan and Hong Kong.

2. See the April 2025 joint consultation paper on the annual updates to the FSP List.

3. The updated FSP List will be gazetted during the fourth quarter of 2025 for implementation on 1 January 2026.