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Notice - Mandating the use of Unique Transaction Identifier for the reporting obligation

05 March 2020
To: All HKTR Members

The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) issued a joint consultation in April 2019 (Consultation) on further enhancements to the over-the-counter (OTC) derivatives regulatory regime in Hong Kong. To align with global standards, the regulators proposed that by April 2020, transactions to be submitted to the Hong Kong Trade Repository under the reporting regime would be required to be identified by unique transaction identifiers (UTI) with the structure and format as set out in the Technical Guidance issued by the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions (CPMI-IOSCO) in February 2017.

In order to align with global effects to implement UTI and after taking into account feedback from the Consultation, the HKMA and the SFC have decided not to implement the requirements on UTI at the proposed timeline of April 2020. The HKMA and the SFC appreciate market participants' desire for a harmonised mandatory UTI implementation timeline among regulators. We will continue to monitor the latest situation of the UTI implementation globally and allow sufficient time for market participants to make the necessary preparation. Corresponding arrangements on the technical readiness of the HKTR system including testing schedule will be also notified to participants in due course.

If you have any questions on the policy interpretation, please email to (for AIs) or (for LCs and CCPs).
If you have any questions on the HKTR system, please email to (for AIs, LCs and CCPs).
Last revision date:05 March 2020