NextGen Risk Management

With a focus on being “Technology Empowered” at the heart of our approach, HKEX is proud to launch NGRM, a brand new platform for post-trade clients; enabling a new risk-adjusted way of calculating the initial margin and stress testing our market default fund. This approach enables client risks to be managed in accordance with compliance and regulatory requirements, whilst at the same time maximising transparency and cost-efficiency across market participants.

NextGen Post Trade Platform-Risk Management enquiries:
Tel: (852) 2211 6828
Email: NG_PostTrade@hkex.com.hk

Updated 08 May 2020

NGRM Videos

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Next Generation Risk Management
17 Jan 2020
To learn more about NGRM’s market impact on HKSCC Clearing Participants, including the new initial margin calculation model, and how they can prepare.
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NGRM briefing
10 Feb 2020
To cover key project updates including NGRM preparation and readiness, margin simulation tool and technical requirements.
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Risk Parameter File (RPF) Workshop
10 Feb 2020

To walkthrough the use of RPF for margin calculation under the new risk model and Initial Margin Calculation Guide.
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NGRM Q4 2019 wrap up
17 Jan 2020

See the highlights from our Q4 NGRM town hall.

Updated 17 Jan 2020

Getting Started

Briefing Materials

Orion Risk Platform (ORP) Briefing (Feb 2021)

NextGen Post Trade Platform-Risk Management (NGRM)Briefing and Workshop (Jan 2020)

NextGen Post Trade Platform-Risk Management Town Hall (Oct 2019)

NextGen Risk Model-Initial Margin and Stress Testing Seminar (Aug 2019)

NextGen Risk Models-Stress Testing Seminar (Dec 2018)

NextGen Risk Models Workshop (Jun 2018)

NextGen Risk Models (Apr2018)

Circulars

Orion Risk Platform Familiarisation Programme – Latest Update and Webinar Briefing (Feb 2021)

Orion Risk Platform – Familiarisation Programme (Jan 2021)

Next Generation Post Trade Platform – Risk Management (NGRM) Briefing and Workshop (Jan 2020)

Guidance Documentation for Next Generation Post Trade Platform - Risk Management (“NGRM”) (Oct 2019)

(Rescheduled) Next Generation Post Trade Platform – Risk Management Town Hall (Oct 2019)

Next Generation Post Trade Platform – Risk Management Town Hall (Sep 2019)

Seminars on Next Generation Risk Models – Initial Margin & Stress Testing (Aug 2019)

Seminars on Next Generation Risk Models - Stress Testing (Nov 2018)

Workshops on Next Generation Risk Models (May 2018)

Seminars on Next Generation Risk Models (Mar 2018)

ORP Familiarisation Programme

CPs should note that during the Familiarisation Programme, the ORP is not in commercial operation and should not be used in any commercial context or form. As such, the ORP and any output that can be obtained from such platform including without limitation the new set of margin reports are, during the Familiarisation Programme, provided for familiarisation purposes only. CPs therefore should not rely on the ORP or any output from such platform in any way and should continue their normal risk management measures, prepare funding and make payments according to existing CCASS reports and schedule until the business implementation of the ORP and the new risk models.

Information Package

ORP Familiarisation Programme Information Package (Feb 2021)

Report Specification

1. Marginable Position Report (RMAMP01) (Jan 2021)