Issues raised by ASIC and their solutions
ASIC has been in contact with a number of CFD providers after evidently having done a large-scale analysis of their trade reporting data which has been reported. This was confirmed in ASIC’s recent Report 828 where they confirmed 48 CFD firms have subsequently made changes to their reporting. A number of issues have been raised […]
Meet the team: Kaushal Khemka
How did Kaushal find himself at TRAction? Kaushal started off as a data-science intern at DataNeuron. During this time he saw posts relating to ASIC reporting from TRAction’s LinkedIn which sparked his interest in trade reporting and motivated him to deepen his understanding of the field. He later applied to TRAction through a mutual connection. […]
Quantity unit of measure – Leg 1 & 2
Notional amount – Leg 1 – ASIC Rewrite
Notional amount – Leg 2 – ASIC Rewrite
Price unit of measure – what does it mean and how to report it under ASIC
Under the ASIC transaction reporting requirements, reporting entities must submit a significantly expanded set of data fields following the rewrite. One field that generates confusion in practice is Item 49: Price Unit of Measure. TRAction explains: what that field means, how it connects to the Price field, and the common issues that arise when populating […]
Meet the team: Hitesh Arya
How did Hitesh find himself at TRAction? Hitesh’s last role was a Business Development Lead at a Web3 product development firm. There, he worked on decentralised finance (DeFi) launches, partnerships, and growth across the crypto and NFT space before joining TRAction. Hitesh’s responsibilities in his role… Hitesh’s role as Customer Support in TRAction’s Business Development […]
ASIC Pairing & Matching: Derivative Reporting Rules
Historical background To date, the ASIC trade reporting rules have not required counterparties to have exactly matching data in the relevant fields of a trade report. Even though that counterparties to a trade should have the same core information about that trade, reporting requirements and the need for data enrichment has meant data elements could […]
How Do Easter & the End of Daylight Saving Affect Your ASIC Reporting?
Daylight saving time has ended in Australia. Here are our tips on how to ensure the time settings in your trade/transaction reporting are correct.
The Importance of Trade Reporting for Superannuation Funds
Approximately A$900 billion of open derivatives positions are held by Australian superannuation funds, according to the Reserve Bank of Australia (RBA). The International Swaps and Derivatives Association (ISDA) has highlighted that these funds are making more frequent use of derivatives as a cost-effective and efficient way to manage their foreign currency and investment exposures. With […]