ASIC
DTCC ASIC and MAS Rewrite Specifications v0.2
New release of DTCC ASIC and MAS Rewrite Specifications version 0.2
November 1, 2023
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New release of DTCC ASIC and MAS Rewrite Specifications version 0.2
One of ASIC’s goals is to align the Australian reporting regime with international standards. Harmonising the data collected according to the critical data elements introduced in the CDE Guidance aims to improve data quality for sharing between regulators globally.
Daylight Saving Time (DST) starts this weekend (Sunday, 1 October 2023) in Australia for most states. While you enjoy the sun and longer days, you’ll need to check your ASIC OTC derivative reporting is using the correct time settings after the time change.
Under the Australian Securities and Investments Commission’s (ASIC) Regulatory Guide (RG) 251, reporting entities are required to make regular enquiries of their reporting delegate.
Daylight saving time is here and so are our tips on how to ensure the time settings in your trade/transaction reporting are correct.
Are you reporting trades by New York (NY) time or following NY close of business? If so, it is important to check your trades/transactions are still reported at the correct time now that daylight saving time (DST) has started in the US (13 March 2022).
From 21 October 2024, only LEIs can be used in ASIC’s derivative reporting. The final version of the rules have been released and require that a Legal Entity Identifier (LEI) is the only allowable entity identifier for all eligible relevant entities.
Public holidays and bank holidays can have a major impact on trade and transaction reporting requirements; especially if you are an entity operating under multiple regimes.
When there is a public holiday where the regulatory body (or regulated entity) is located, it is likely that the timing of report submissions will be extended commensurately.
