Reminder: Daylight Saving Time for New York Starts This Weekend
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).
Need to update your Pre-ASIC Rewrite Trades?
Time is running out for ASIC regulated firms Under the new ASIC Rules on trade reporting, which began on 21 October 2024, there is a 6 month transition period provided to reporting entities. Reportable trades that were entered into on or before 20 October 2024 with an expiry beyond 20 October 2025 (but have not […]
Other Payment Payer & Other Payment Receiver – ASIC
Other Payment Type – ASIC
Other Payment Date – ASIC
Other payment amount – ASIC
LEI-only policy for ASIC reporting after October 2024
The ASIC Reporting Rules now provide that Legal Entity Identifiers (LEIs) are the only allowable entity identifier for all eligible relevant entities under the ASIC reporting regime. All LEIs used as entity identifiers for the reporting entity, counterparty 1 (and the central counterparty) will need to be duly renewed and remain valid at all times. A renewed LEI […]
Are You Making Regular Enquiries Into Your Trade Reporting?
Accuracy of reporting and delegate oversight – ASIC ASIC’s OTC derivative transaction reporting rules allow reporting entities to delegate their reporting obligations to a third party. In doing so, reporting entities are required to take all reasonable steps to ensure the completeness, accuracy and currency of the information reported (Rule 2.2.6 of the ASIC Trade Reporting […]
ASIC Trade Reporting Breaches – a Summary
Are you aware of the penalties for non-compliance with ASIC’s trade reporting rules? Australian entities dealing in OTC derivatives are required to report under and comply with the ASIC Derivative Transaction Rules (Reporting) 2024 (the Reporting Rules). What can you be fined for? You could be subject to penalty should you fail to comply with the following provisions […]
ASIC Rewrite – are there any pairing and matching requirements?
Historical background To date, the ASIC trade reporting rules have not required counterparties to have exactly matching data in the relevant fields of a trade report. Even though that counterparties to a trade should have the same core information about that trade, reporting requirements and the need for data enrichment has meant data elements could […]
