ISDA Publishes Hong Kong Clearing Classification Letter

ISDA published a new form letter to enable counterparties to notify each other of their respective status in advance of new clearing requirements in Hong Kong. ISDA indicated that they are working to make the new letter available on ISDA Amend, a website that ISDA developed with Markit.

ISDA noted that, for the purpose of determining whether a counterparty has reached the clearing threshold, the first calculation period will run from September 1, 2016 to November 30, 2016 with clearing obligations commencing on July 1, 2017.