The Briefing.

Circular to Intermediaries Roadmap for Implementing the Hong Kong Investor Identification Regime for the Exchange-traded Derivatives Market

Action requiredConductTechnology

What the SFC said

The SFC sets out the roadmap for the investor identification regime for the exchange-traded derivatives market (HKIDR-DM), scheduled for the second quarter of 2028. Relevant intermediaries must assign each relevant client a BCAN, submit client identification data to an HKEX repository and include the BCAN on every order.

Read the official circular on sfc.hk ↗

This page is our summary and commentary, not the circular itself — always read the original before acting.

Same month in the Record

Get circulars like this explained every Monday.

The 5-minute briefing for Hong Kong’s small licensed firms — free, 7:30am HKT.