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Navigating HKMA Rewrite: Key Updates in OTC Reporting
In this podcast, DTCC’s Aaron Chen, Head of RDS Product Management for APAC provides an update on the Hong Kong Rewrite, including:
- Implementation Date: The Hong Kong Rewrite will be implemented on September 29, 2025 following similar rewrites in Japan, Singapore, and Australia.
- Unique Reporting Requirements: The Hong Kong Trade Repository has specific operational requirements, including a total of 183 distinct reportable data elements, which is higher than those in other regions like MAS and ASIC.
- Challenges in Transition: Key challenges include the mandatory use of ISO XML for submissions, UTI sharing among counterparties, and ensuring data quality despite acceptance by the TR. DTCC has tools to assist firms with these challenges.
- Testing and Support: DTCC has provided a testing utility to help firms prepare for the implementation, emphasizing the importance of thorough testing to ensure a smooth transition. Additionally, they have reduced fees to support clients during this process.
© 2025 DTCC. All rights reserved. DTCC, DTCC (Stylized) and Financial Markets. Forward. are registered and unregistered trademarks of The Depository Trust & Clearing Corporation DTCC.
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In this podcast, DTCC’s Aaron Chen, Head of RDS Product Management for APAC provides an update on the Hong Kong Rewrite, including:
- Implementation Date: The Hong Kong Rewrite will be implemented on September 29, 2025 following similar rewrites in Japan, Singapore, and Australia.
- Unique Reporting Requirements: The Hong Kong Trade Repository has specific operational requirements, including a total of 183 distinct reportable data elements, which is higher than those in other regions like MAS and ASIC.
- Challenges in Transition: Key challenges include the mandatory use of ISO XML for submissions, UTI sharing among counterparties, and ensuring data quality despite acceptance by the TR. DTCC has tools to assist firms with these challenges.
- Testing and Support: DTCC has provided a testing utility to help firms prepare for the implementation, emphasizing the importance of thorough testing to ensure a smooth transition. Additionally, they have reduced fees to support clients during this process.
© 2025 DTCC. All rights reserved. DTCC, DTCC (Stylized) and Financial Markets. Forward. are registered and unregistered trademarks of The Depository Trust & Clearing Corporation DTCC.