Page 56 - 期货和衍生品行业监管动态（2023年12月刊）

期货和衍生品行业监管动态

The amendments will enhance the position limit regime in several ways. These

include clarifying the application of the Rules to asset managers who manage funds or

sub-funds of umbrella funds and the regulatory expectations for trustees in respect of

the Rules’ requirements, expanding the list of “specified contracts” for granting excess

position limits, introducing an excess position limit regime for clearing participants,

raising the statutory position limits for certain futures and options contracts, prescribing

position limits and reporting levels for some new contracts, and imposing large open

position reporting requirements for holiday trading contracts.

The changes aim to give more clarity on regulatory requirements related to funds,

facilitate compliance and provide more flexibility to the market.

To help market participants understand the amendments, the SFC has also

published an FAQ and updated the guidance note on related regulatory requirements.

Note:

1. On 5 June 2023, the SFC published conclusions to its further consultation on

proposed changes to the position limit regime for the derivatives market.

https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-

announcements/news/doc?refNo=23PR155

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