Mandatory clearing in Hong Kong postponed until January

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Hong Kong is delaying the introduction of mandatory over-the-counter derivatives clearing until January amid concerns about cross-border derivative rules and the recognition of foreign central counterparties (CCPs).

Mandatory clearing was originally slated for October but according to a senior Hong Kong-based clearing source a change of timetable has now been proposed to banks in Hong Kong.

"The bill will soon go to the legislative council and be vetted over the next few months, then the mandate

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