A “Reporting Entity” needs to report information about its “Reportable Transactions” under the ASIC Derivative Transaction Rules (Reporting) 2013.

For each type of Reportable Entity, the Reportable Transactions in relation to that Reportable Entity are as set out below:

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Assuming that an OTC derivatives broker is an Australian entity or foreign subsidiary of an Australian entity in respect of a transaction with a customer, the Reporting Entity is the counterparty with the customer.  Read the full article on Finance Magnates.