Local trade repositories are necessary, says senior HKMA official

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The setting up of multiple domestic trade repositories is necessary to ensure smaller local financial institutions can meet the derivatives reporting requirements agreed by the Group of 20 nations, according to Esmond Lee, executive director, financial infrastructure, at the Hong Kong Monetary Authority (HKMA).

Speaking on the sidelines of the Asia Risk Congress in Hong Kong following his keynote address yesterday, Lee disagreed with those who argue market participants should report their deriva

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