ASIC Trade Reporting – Overcoming the Last Mile Challenges

With the reporting of valuation and collateral by Phase 3B firms commencing on 4th July 2016, ASIC will soon have implemented OTC trade reporting for all asset classes across the market. Although the information to be reported is minimal, there are still some common pitfalls that firms should watch out for. On top of that, given the increasing level of regulatory scrutiny on data quality, firms…

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Data quality as a priority

Recent enforcement actions by the CFTC prove that it is vital for firms to report high quality data to avoid regulatory scrutiny. Firms are now under pressure not only to satisfy new complex requirements but also to implement best practices to ensure data quality, such as data reconciliation and consolidation. How can you prepare for the increasing demand on data quality from…

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Collateral reporting

Collateral reporting has already commenced in ASIC, and will be in scope for MAS reporting starting 1 November 2016 based on the latest consultation paper.  Collateral reporting is challenging because collateral value is often maintained at the portfolio level and may require additional logic to link to each individual trades. Furthermore, validating that all the trades …

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UTI Share & Pair

Different jurisdictions have slightly different rules for reporting unique trade identifiers (UTIs). CFTC mandates the use of a Unique Swap Identifier (USI) which consists of a 10-digit alphanumeric namespace and an up-to 32 character identifier. ESMA mandates the use of a Unique Trade ID (UTI) of up to 52 alphanumerical digits. ASIC requires a universal trade identifier, a…

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