OTC Clear’s Clearing Members have been informed that amendments to the Clearing Rules and Clearing Procedures have been approved by the Securities and Futures Commission. These changes will enable mutual access between the Hong Kong and Mainland interest rate swap markets, known as “Swap Connect”. This initiative is being undertaken by CFETS, Shanghai Clearing House, and OTC Clear, and was announced by the People’s Bank of China, the Hong Kong Monetary Authority, and the Securities and Futures Commission on 4 July 2022 and 5 May 2023. The amendments, which can be found in Appendices 1 and 2, will be effective from Monday, 15 May 2023.
resource:
Mark-up version of amendments to the OTC Clear Clearing Rules: https://www.hkex.com.hk/-/media/HKEX-Market/Services/Rules-and-Forms-and-Fees/Rules/OTC-Clear/Rule-Update_Rules-and-Procedures-of-OTC-Clear/031_21_OTC_Clearing_Rules_Swap-Connect_e_markup.pdf
Mark-up version of amendments to OTC Clear Clearing Procedures: https://www.hkex.com.hk/-/media/HKEX-Market/Services/Rules-and-Forms-and-Fees/Rules/OTC-Clear/Rule-Update_Rules-and-Procedures-of-OTC-Clear/031_21_OTC_Clearing_Procedures_Swap-Connect_e_markup.pdf