Hong Kong lags on Esma equivalence
Esma unable to grant equivalence on Hong Kong's OTC clearing regime as framework is not yet in place
Hong Kong is lagging behind other Asian jurisdictions in gaining European Securities and Markets Authority (Esma) recognition on the equivalence of its over-the-counter derivative regulatory regime as laws to implement its OTC derivatives framework are still in the process of being passed.
In its second round of equivalence determinations on October 2, Esma has granted India and South Korea third-country regulatory conditional equivalence for central counterparties (CCPs) while Singaporean trade
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