Starting from 2027, there will be only two calculation periods each year. Standardization is a good thing, but is there enough time for the market to prepare?

The Hong Kong Securities and Futures Commission and the Hong Kong Monetary Authority issued a joint consultation summary, proposing to revise the "Securities and Futures (Over-the-Counter Derivatives Transactions—Settlement and Record-keeping Responsibilities and Designation of Central Counterparty) Rules," to standardize the calculation period for mandatory settlement responsibilities of over-the-counter derivatives. According to the proposal, starting from March 1, 2027, two fixed calculation periods will be adopted annually (March 1 to May 31, and September 1 to November 30), to simplify the current practice of periodically revising the list of calculation periods and improve market participants' planning and compliance efficiency.