How to avoid a trade reporting fine in 6 steps
ASIC recently issued an infringement notice to Deutsche Bank Aktiengesellschaft (Deutsche Bank), which paid a penalty of $2 million for misreporting more than 260,000 over-the-counter (OTC) derivative transactions. What can we learn from this incident?
Common Errors in MAS Reporting
TRAction’s reporting services include data validation and data enrichment to identify and resolve errors, as well as ensure the format meets requirements prior to Trade Repository (TR) submission. We have identified the most common errors TRAction sees in MAS OTC derivative trade reporting and provide steps for how to rectify (or avoid) each one. We […]
7 Common XSD Errors in ASIC & MAS
https://www.youtube.com/watch?v=gqc7HFvJ7i0 ASIC Rewrite and MAS Rewrite both introduced a major structural change with the move from the CSV to XML file structure. XML uses an embedded schema and validation system using XSD files. Essentially, when creating an XML file, it is checked against a set of formatting and data rules in the XSD file. If […]
Using reporting to improve business processes and revenue
Often firms view complying with regulation as an obligation to avoid penalties and fines. However, have you considered how compliance can not only improve your business processes but add to your revenue as well? In this article, we will step you through the various ways in which you can use your regulatory reporting data to benefit your business.
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
Meet the team: Shubham Goyal
How did Shubham find himself at TRAction? Shubham’s experience spans wide across DeFi and TradFi systems having worked as a Derivative Pricing Specialist for IDFC First Bank, a Financial Engineer at Morgan Stanley, and then as the Head of Tokenomics & Investor Relations supporting a blockchain start-up, before joining TRAction. Shubham’s responsibilities in his role… […]