Hong Kong’s central bank and top financial regulator are developing a system to track dangerously concentrated exposures to stocks as part of efforts to prevent an Archegos Capital-style blow-up, according to two people familiar with the matter.
The project, which was launched in the wake of the debacle at the family office run by Bill Hwang, will use centralised trade databases to identify excessive risk-taking by banks and investment funds trading derivatives on Hong Kong markets.
The people familiar with the matter said the project had garnered the attention of regulators in the US, where the collapse of Archegos in April was one of the most spectacular on Wall Street in a decade.
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