On 20 November 2023, HKEX issued circulars on enhancing derivatives position limits. Circulars outline changes to exchange-level position limit regime including application of position limits to clearing participants (CP) as well as excess position limits for CPs. Increase of CNH position limits from 8K to 30K long or short position delta contracts. Introduce tiers for…
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China – CSRC Managing Futures Position Limits
On 30 December 2022, CHI CSRC proposed interim provisions on futures. CHI CSRC proposed interim provisions on position management in the futures market. Interim Provisions Interim provisions are applicable to futures exchanges, futures operating institutions, foreign brokerage institutions, traders as well as other relevant market participants. Require futures exchanges to formulate and adjust position limits;…
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Hong Kong – SFC Position Limit Regime Change
On 21 June 2022, FIA responded to HK SEF consultation on changes to the position limit regime; stressed that data reporting requirements should always be meaningful. Noted the benefits of imposing such requirements should also be proportional to the resources needed to meet them; provided suggestions for consideration by HK SEF. Advised expanding category of…
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Vietnam – SEC Derivative Securities Market
On 17 June 2022, VIE VSD issued update on the contents of decision 61/QD-VSD, specifically regarding regulations on clearing and settlement of derivative transactions. Clearing members are entitled to withdraw escrow assets if certain conditions are met. Such as when the rate of use of escrow assets after withdrawal is below the threshold. As well…
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Hong Kong – Consultation on Position Limit Reporting
On 2 June 2022, HKEX proposed to amend open position reporting. HKEX proposed to amend position limits, large open position reporting requirements. Follows HK SFC April 2022 proposed changes to position limit regime. Position Limits Add 2 tiers of 200k, 250k contracts to single stock option (SSO) position limit model. Introduce a 5-tiered exchange-level position…
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Hong Kong – SFC Position Limit Regime Change
On 26 April 2022, HK SFC proposed changes to the position limit regime. HK SFC issued consultation paper on proposed changes to the position limit regime. Proposed changes address recent developments in Hong Kong's securities and futures markets, and align the requirements with HK SFC’s regulatory policies and objectives. Follows May 2017, HK SFC said…
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