Page 40 - 期货和衍生品行业监管动态（2023年8月刊）

期货和衍生品行业监管动态

期货经纪行将有六个月的过渡期以遵守有关指引，另有额外 12 个月的时间

来实施系统修改以遵守将客户风险限额监控措施自动化及压力测试的有关规定。

该指引已刊载于公报，并将于 2024 年 2 月 25 日生效。

注：

1. 征求意见于 2022 年 11 月 25 日开始，并于 2023 年 1 月 31 日结束。SFC

共收到 21 份来自行业协会、期货经纪行、专业团体、顾问公司及个人的

意见。

SFC Concludes Consultation on Risk Management Guidelines for Futures Dealing

Activities (2023/8/25)

The Securities and Futures Commission (SFC) today published consultation

conclusions on its proposed risk management guidelines for licensed futures brokers

(Note 1).

The guidelines set out a comprehensive risk management framework for futures

brokers which covers market risk management, commodity futures trading, client credit

risk management, concessionary margining and risk management over executing or

clearing agents. Requirements for funding liquidity risk management, safeguarding

client assets, trading in futures markets outside Hong Kong and stress testing are also

included.

Respondents generally appreciated the SFC’s guidance on the risk management

practices expected of futures brokers and their feedback has been incorporated in the

guidelines where appropriate. To address the market’s comments, the SFC has provided

more principles-based guidance in place of some prescriptive rules and quantitative

thresholds.

“A robust risk management framework is crucial in ensuring the resilience of

futures brokers when the market is volatile,” said Ms Julia Leung, the SFC’s Chief

26