Netting law to push slew of Chinese clients into IM regime

Isda AGM: HSBC legal exec says internal approval process for netting opinion could buy more time to prepare

China-netting-ambiguity

A “large number” of Chinese counterparties are likely to be swept into scope for non-cleared margin rules once the country’s netting opinion is finalised later this year, according to a senior HSBC legal executive.

Countries without a so-called clean netting opinion are largely exempt from the non-cleared margin regime in Europe and the UK. But once China is considered a clean netting jurisdiction, counterparties in the country could be swept into scope.

With China passing a law in April

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