GCC Consulting

Circular to Licensed Corporations – Updated Technical Specifications for OTC Derivatives Trade Reporting

The Hong Kong Monetary Authority (HKMA) issued a notice on 8 August 2025, updating the technical specifications for OTC derivatives trade reporting to the Hong Kong Trade Repository (HKTR). The revised Administration and Interface Development Guide (AIDG) version 1.0.3 (ISO 20022) includes changes to business validation rules, expanded data format allowances, and streamlined supplementary data processes. These updates take effect on 22 September 2025, ahead of the regulatory deadline of 29 September 2025. Reporting entities, including Licensed Corporations (LCs), must complete simulation testing and submit a readiness declaration by 12 September 2025. The Securities and Futures Commission (SFC) reiterated these requirements in its circular on 11 August 2025, advising LCs to review the HKMA notice and prepare for compliance. Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/circular/doc?refNo=25EC43

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