MAS Reporting

The Monetary Authority of Singapore

What is the reporting obligation?

MAS requires only certain over-the-counter (OTC) derivative contracts to be reported. Exchange-traded derivatives contracts including futures contracts and block futures contracts are not in the scope of the regime and therefore, they don’t need to be reported.

TRAction has summarised which OTC SDCs are to be included and excluded in your MAS trade reports in the table below:

Please refer to section 2 of the Regulations for detailed definitions of these five types of reportable derivatives.

Who is required to report?

The following entities are required to report subject to exemptions:

  • any holder of a capital markets services licence (CMSL) subject to exemption;
  • any Significant Derivatives Holder (SDH) as set out in section 6 of the Regulations (see below for more detail);
  • any bank in Singapore licensed under the Banking Act (Chapter 19);
  • any subsidiary of a bank incorporated in Singapore subject to exemption;
  • any merchant bank approved as a financial institution under the Monetary Authority of Singapore Act;
  • any finance company licensed under the Finance Companies Act; and
  • any insurer licensed under the Insurance Act subject to exemption.

 

This is covered at Section 124 of the Act and Section 6 of the Regulations,

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Who are Significant Derivatives Holders (SDH)?

  • The person does not fall into any category above (see Who is required to report?);
  • The person is a resident in Singapore; and
  • The person’s aggregate gross notional amount of SDCs which are traded in Singapore for the year exceeds SGD 8 billion.

What to report and to whom?

Depending on the class of SDCs, the reporting details required are different. The following are the reporting information fields required for all classes of SDCs:

  • contract information such as Unique Transaction Identifier (UTI);
  • counterparty information such as Legal Entity Identifier (LEI);
  • clearing information;
  • contract confirmation;
  • trade execution;
  • transactional data;
  • timestamp information; and
  • option data, if applicable.

 

All MAS OTC derivative trades are to be reported to a designated TR regulated under MAS. As it stands, DTCC is the only regulated TR for Singapore MAS trade reporting. Reporting entities are required to report the trade information described below within two (2) business days (T+2).

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Further Information

With the final phase of the MAS OTC Derivative Reporting Regulations now in force, our team has found that some firms are unaware they are captured under the regime. This is why we’ve developed the MAS Assessment Tool. Read more.

The MAS OTC Derivative Reporting Final Phase is in force. As a result, TRAction expanded its reporting services to support clients reporting under the MAS regime with our end-to-end delegated reporting solution. Read more.

As the scope of MAS OTC Derivatives reporting increases, so too, can the difficulty of keeping on top of your reporting obligations. We recommend you consider maximising the effectiveness of your team by using specialist regtech companies such as TRAction. Read more.