Are You Making Regular Enquiries Into Your Trade Reporting?
Accuracy of reporting and delegate oversight – ASIC ASIC’s OTC derivative transaction reporting rules allow reporting entities to delegate their reporting obligations to a third party. In doing so, reporting entities are required to take all reasonable steps to ensure the completeness, accuracy and currency of the information reported (Rule 2.2.6 of the ASIC Trade Reporting […]
Interest Rate Derivative Trade Reporting
What is an interest rate derivative (IRD)? An IRD or interest rate swap is a derivative which is a contract between 2 parties that agree to exchange interest payments between each other based on fixed and floating interest rates. IRDs are typically forward contracts where the specific term dates and prices can be customised according […]
Reporting for ICAVs and SICAVs
What is an ICAV and a SICAV? ICAVs ICAV stands for Irish Collective Asset-Management Vehicle. ICAVs are a corporate structure created especially for the Irish funds industry – it may be listed on a stock exchange. It provides managers and promoters with a corporate structure that is designed specifically for investment funds and which is […]
Are products traded with a SI considered OTC?
A Systematic Internaliser (SI) is an investment firm that, when executing client orders over-the-counter (OTC), multilateral trading facility (MTF), or organised trading facility (OTF), deals on its own account in an organised, frequent, systematic and substantial manner without operating a multilateral system (see Article 4(1)(20) of MiFID II). Summary The question of whether an International […]
SFTR comes to the US: SEC’s Rule 10c-1a – Rules for securities loans
Rule 10c-1a’s purpose is to increase transparency and for the securities lending market to be more efficient. This is the US equivalent to the European SFTR regulation which requires the reporting of Securities Financing Transactions (SFTs) to trades repositories. The final rules have been effective since 2 January 2024 (Effective Date), however, of the various phases of […]
Derivative based on crypto-assets – UK EMIR
Can I use overseas MICs instead of an ISIN or UPI for EMIR?
When do I use an overseas MIC instead of an ISIN or UPI under EMIR? Under EMIR regulations (both EU and UK versions), there are very specific validation rules which sometimes require an ISIN, sometimes a UPI and sometimes neither. We have made the flow chart below to help you ascertain which rules will apply […]
TRAction’s Processing and Handback Timeline
How does TRAction simplify your trade reporting? Regulatory trade and transaction reporting can be complex and unwieldy, but that’s why TRAction is here to help! We do all the heavy lifting for you, which allows more capacity for your firm to focus on the delivery of your products and services. Take a look at our […]
EMIR Reporting of the ‘Stock Split’ Corporate Event
What is a Stock Split? Stock splits usually occur when a company’s share price has gone up to an extremely high value, where it may be viewed as being too expensive or unattainable to new investors entering the market. When this occurs, companies may increase the number of outstanding shares by dividing its existing shares […]
Crypto-asset identifiers – (DTIs) as underliers for UPIs
Historically, crypto-assets, as opposed to other financial instruments, have been more difficult to identify given their complexities and intricacies. To date, they been given general short-names. For example: bitcoin is called BTC or XBT, and Ethereum Ether referred to as Ξ, Ether or ETH Non-uniformity of such names, has made the process of identifying such […]
