Daylight Saving Time (DST) starts this weekend (Sunday, 5 October 2025) for most Australian states. While you enjoy the sun and longer days, you’ll need to check that your ASIC OTC derivative reporting is using the correct time settings.
Here are 2 tips to help you ensure your trades/transactions are reported at the correct time:
1. Check your Time fields in your handback files
When you receive your handback files for trades carried out after DST starts, it’s important to check the following and act promptly if there is any problem.
Cross-check the time of your trades against the Universal Time Coordinated (UTC) recorded under the following DTCC fields:
- Original Execution Timestamp field in your handback file. This field must match your trade Open Time.
How to check?
- Select a sample of trades from your raw data and convert the time to UTC; and
- Compare those against the UTC populated under the fields as described above in your handback file.
In cases where you are not using Sydney local time as your server time, this check also aims to ensure you are reporting correctly where there are any changes in other time zones, such as New York and London.
If the time does not match, please contact us.
2. Check time recorded for daily snapshot (if applicable)
For firms that submit a daily snapshot for ASIC trade reporting, double-check if it is taking place at the intended end-of-day time.
With these simple checks above, you will save time and effort from submitting corrections for your trades. This will also minimise breaches in the future.
If you have any concerns or are not sure how to do this check, please contact us.
