An Overview of MAS OTC Trade Reporting

The Securities and Futures (Reporting of Derivatives Contracts) Regulations is an over-the-counter derivative trade reporting regulation prescribed by the Monetary Authority of Singapore (MAS). It is a phased reporting regime under which interest rate and credit derivatives are already being reported and foreign exchange, commodity and equity derivatives contracts have to be reported beginning October 1st, 2021.

Scope of reporting:
All trades in the aforementioned asset classes either booked or traded in Singapore need to be reported to MAS on a T+2 basis.

Who needs to report?

• Subsidiary of a bank incorporated in Singapore
• Merchant bank approved as a financial institution
• Finance company licensed in Singapore
• Insurer in Singapore
• Holder of a capital markets services license

What needs to be reported?

The reportable information can be classified as:

• Transaction details
• Counterparty details
• Instrument details
• Valuation details

IVP’s Regulatory Reporting works as a universal platform to address the global transaction reporting of derivatives. The application is designed on the principle of sourcing transaction details from the order ticketing system, accounting system and data warehouse. This sourced information is then enriched with security extract and counterparty details to prepare the populated trade to be reported. From there, the robust validation layer in Raptor identifies any errors that need to be corrected before a successful submission can be done.

These error-free trades are automatically submitted by the solution to the Trade Repository (TR) from whom the responses are automatically captured. In a case when an error is pointed out by the TR, the application will decode the error to decipher the gap present in reporting. Here, automatic enrichment, submission, bucketing into categories and error flagging is done seamlessly.

IVP provides automated derivative trade reporting services for multiple jurisdictions such as, but not limited to, Singapore, Japan, Hong Kong, Brazil, UK, EU, Australia and India.

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