Hong Kong looks for digital response to trade reporting burden
New swaps reporting framework will include more fields than requirements in US or Singapore.
Hong Kong derivatives market participants looking to implement new trade reporting rules are facing a significant compliance burden, as local regulators have requested more data than some other major jurisdictions.
“In some cases, it seems that regulators have just asked for more detail for particular fields which market participants may not think necessary,” says I-Ping Soong, a partner at law firm Linklaters in Hong Kong.
The Hong Kong Monetary Authority and Securities and Futures Commission
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