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 EMIR, the information stemming from the dual-sided reporting obligation must be reconciled via the pairing and matching of both legs of the derivative trade by trade repositories.
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.
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.
ASIC is stepping closer to its final version of reform to its reporting requirements for derivative transactions. Further details of their proposals have been outlined in ASIC’s second Consultation Paper (CP) Proposed Changes to simplify the ASIC Derivative Transaction Rules (Reporting) 2013, incorporating further changes after its first round of consultation released in November 2020.
Globally there are a host of foreign exchange brokers which allow their customers to move currency to and from different countries and currencies. These companies are subject to different requirements based on the jurisdiction where they are based and the role they play in the market.
