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HKMA

The deltaconX regulatory platform enables HKMA – Hong Kong Monetary Authority Reporting so that your day-to-day operations are streamlined and your ability to work is optimized, so you can focus on your actual business.

HKMA Reporting is the name for the regulation requiring firms in Hong Kong to submit details of derivative transactions to the Hong Kong Monetary Authority (HKMA) trade repository. HKMA Reporting was originally introduced in 2015 by HKMA and the Securities & Futures Commission (SFC) of Hong Kong and has had one major revision made to the regulation scope in 2017.

Hong Kong regulation

Lower total cost of ownership

Reduce your costs with our unified SaaS platform that streamlines your processes.

  • Decrease your manual efforts
  • Avoid in-house developments
  • Reduce the need for in-house expertise
  • Eliminate the need for on premise installation

What is the reporting obligation?

Originally HKMA Reporting only covered OTC interest rate swaps and FX NDFs, but in 2017 the regulation scope was expanded to also include OTC derivatives for assets when booked or conducted in Hong Kong.

OTC derivative assets covered by the HKMA Reporting currently include:

  • Credit
  • Commodities
  • Equities
  • Rates
  • FX

Instruments are only classed as being reportable if they involve or reference a currency, rate, or yield denominated in a currency if they appear on the HKMA authority’s pre-determined list.

At present the list comprises 176 different currencies, including all the majors, as well as a list of specified floating-interest rate indices for reportable interest-rate swaps.

Important to note is that neither inter-branch or intra-branch trades are reportable, and as such as not included.

Who is required to report?

HKMA reporting obligation applies to the following firm types with 30 million USD gross notional reporting for their respective product classes:

  • Licensed Corporations (LC)
  • Recognised clearing houses.
  • Approved money brokers (AMB)
  • Authorised institutions (AI)

When do reports have to be made?

The mandatory reports must be submitted daily to the HKDR within two business days (T+2) of the transaction.

The DTCC is the only International TR that is recognised to submit trade reports to the Hong Kong Monetary Authority (HKMA) this is via the Hong Kong Trade Repository (HKTR)

User-friendly compliance

A platform that helps you focus on what matters.

  • Take complete control over all data and processes
  • Automatically stay current with regulatory changes
  • Ensure built-in, seamless multi-jurisdiction compliance
  • Stop dealing with maintenance or custom setups

deltaconX provides highest flexibility by supporting multiple jurisdictions within a unified platform.

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Fully Integrated HKMA Reporting

The deltaconX SaaS platform offers the capability to incorporate HKMA Reporting requirements into our unified and standardised workflow, which highlights the areas in need of attention, thereby simplifying your ability to work.

We completely remove any confusion surrounding the requirements for HKMA Reporting compliance by ensuring that the required data is captured and provided to satisfy HKMA Reporting requirements for you.

Because our unified deltaconX workflow is built to focus your attention only where it’s needed, meeting the HKMA Reporting have never been easier as all the requirements are built into our platform itself.

Integrated Compliance Experience

We reduce the burden of compliance by enabling you to move away from relying on external consultants or trying to maintain complex internal solutions that eat up significant amounts of time and resources.

Our platform has the combined expertise from across our entire data reporting chain fully integrated, allowing you to finally eliminate the need for expensive in-house resources and switch to a simpler way of working with a proven reduction of manual efforts by up to 80%.

 

In this sense deltaconX makes it both quick and easy to make sure that everything is available to validate your HKMA Reporting, and instead of driving up the pressure on your existing resources we actually reduce it.

Unlike other solutions deltaconX can actually provide you with the complete picture of the cost of HKMA Reporting compliance with an unprecedentedly clear TCO even as reporting compliance requirements change over time.

Evergreen Compliance is Futureproofed Compliance

The trend for regulatory reporting bodies is now to start moving their focus away from data completeness towards data quality, simply remaining compliant will prove to become a bigger challenge over time.

With deltaconX you get more than just a SaaS based solution provider, you get a long-term partner that will proactively help you reduce the burden of compliance by freeing up resources that can start focusing on your core business.

Because we have access to experts along our entire data reporting chain, we are perfectly positioned to help manage the bigger shifts, changes, and revisions to regulations as they happen – regardless of where they come from.