ESMA has entered into a memorandum of understanding with the Securities and Futures Commission (SFC) of Hong Kong that will allow the exchange of information on derivative contracts held in trade repositories. The MoU, which came into effect on 19 November 2015, gives ESMA and the SFC indirect access to trade repositories established in the EU and Hong Kong. Although ESMA has previously entered into MoUs with the Australian Securities & Investments Commission (ASIC) (in November 2014) and with the Reserve Bank of Australia (RBA) (in February 2015), this MoU is the first agreement to establish indirect (as opposed to direct) access to TRs through exchange of information.