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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.
TRAction provides a helpful summary of the updated documentation that MAS has released to aid in the implementation of the new reporting requirements for OTC derivatives which commence on 21 October 2024.
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).
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.
