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What’s in the data and what are the risks?

It’s a fair concern and it’s a question we’ve been asked by a few brokers, so we’ve taken the time to answer the questions fully and share with the industry as a whole.

Does the data identify my individual clients?

In the case that the client is an individual, the ASIC Reporting Rules require a unique ID and the client’s legal name. No phone numbers, emails or address are required in the reports.

I’d like to keep my trade volume figures private, are these exposed in the data I give to TRAction?

No.  We are advising all clients to use snapshot reporting for their transactions, effectively only reporting transactions open at the end of the day. If a transaction is opened and closed before the end of day it is not required to be reported, therefore the data won’t capture the total trade volume of your firm or individual clients.

Could the data reveal the profit or loss of my firm?

No. Again, due to closed transactions not being reported there is no possible way to ascertain the profitability or revenue of a reporting entity.

TRAction take your privacy seriously and will only disclose data to a licensed Australian Derivative Trade Repository (ADTR) or where required to do so by law.

Will the information I provide to TRAction identify whether we are an STP broker or running a book?

No.  As most brokers will benefit from single sided relief they will not have to report all or some of their hedging trades (trades done with another reporting entity). Therefore there would be no possible way to extract or calculate the ‘risk model’ of the broker from the data provided to TRAction.

Contact us or visit our FAQs page if you have any further queries or would like to discuss further

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