Page 59 - 期货和衍生品行业监管动态（2024年1月）

期货和衍生品行业监管动态

argin-requirements-for-non-centrally-cleared-derivatives-policy-statement。

4. 欧盟监管当局（ESAs）指欧盟银行业管理局（European Banking Authority）、

欧盟证券及市场管理局（European Securities and Markets Authority）和欧盟保险

及职业养老金管理局（European Insurance and Occupational Pensions Authority）。

5. 见欧盟监管当局发布的监管技术标准草拟本：

https://www.esma.europa.eu/press-news/esma-news/esas-propose-extending-emi

r-equity-option-exemption。

6. 有关监管技术标准须获欧洲委员会（European Commission）认可，并在

欧洲议会（European Parliament）及欧盟理事会（Council of the European Union）

不反对的情况下，方能生效。

Circular to Licensed Corporation: Deferral of Margin Requirements for

Non-centrally Cleared Equity Options (2024/1/15)

This circular informs licensed corporations that the Securities and Futures

1
Commission (SFC) will defer the effective date of its margin requirements for
non-centrally cleared single-stock options, equity basket options and equity index

options (collectively, “non-centrally cleared equity options”) by two years to 4
January 2026 to align with the latest global developments.

The SFC’s margin requirements for non-centrally cleared equity options were

originally scheduled to take effect on 4 January 2024 when such margin requirements

were expected to become effective in the UK and European Union (EU). Nevertheless,

on 18 December 2023, the UK’s Prudential Regulation Authority and Financial

Conduct Authority published a joint policy statement containing amendments to the
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3
Binding Technical Standards 2016/2251 . The statement extended the temporary
exemptions for single-stock equity options and index options from the UK bilateral

margining requirements from 4 January 2024 until 4 January 2026. In addition, on 20

December 2023, the European Supervisory Authorities (ESAs) published the joint
4

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