As MiFID Jolts Derivatives, Hong Kong Eyes $483 Trillion Market
- City is said to plan changes to ease the booking of trades
- MiFID and Brexit will complicate the process in Europe
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Hong Kong is gearing up to grab a bigger slice of the $483 trillion global derivatives market as regulatory upheaval in Europe increases demand for alternative trading centers.
With Brexit and MiFID II rules set to complicate transactions in Europe, Hong Kong’s appeal as a derivatives hub is growing. HSBC Holdings Plc and Standard Chartered Plc, two of Europe’s largest banks, have already started shifting portions of their derivatives books to the former British colony, according to people familiar with the matter.