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.
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.
Under ASIC’s Reporting Rules, most Australian margin FX and CFD brokers are Reporting Entities that are required to report their transactions as they are considered to be over-the-counter (OTC) derivatives.
We take a look at what a trade repository or ASIC can surmise about your business from the data they receive.
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.
ESMA, the FCA, ASIC and MAS are placing greater emphasis on Unique Transaction Identifiers (UTIs) and their consistent application between counterparties as part of their roll-out in 2024 of updated derivative reporting requirements in their jurisdictions.
To date there has been no definitive position provided by either the regulation or ASIC guidance about the reportability of crypto.
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.
