Hong Kong risks driving out business when
government plans to require mandatory clearing onshore are
introduced in 2012.
A bank’s general counsel told IFLR the
Hong Kong Financial Services and Treasury Bureau’s
(FSTB) plans to establish mandatory clearing of interest rate
swaps and non-deliverable forwards on the Hong Kong stock
exchange (HKEx), could encourage businesses to move to
Singapore or London.
"The mandatory clearing of trades in...