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ASIC Reporting

ASIC reporting service refers to our service of mapping all required trade data to the format required by the pertinent Trade Repository (as per ASIC derivative transaction rules).

Relevant Regulation: ASIC Derivative Transaction Rules (Reporting) 2013

Start date: 21 October 2024

Regulatory Type: Regulatory Reporting

Types of firms affected: Australian counterparties to a derivative contract such as banks, investment firms, non-financial counterparties and others.

Supervisory authority: ASIC

Frequency of reporting: T+2

ASIC Derivative Transaction Rules (Reporting) Service

Our ASIC Reporting Service maps all compulsory trade data to the format required by the pertinent Trade Repository as per ASIC derivative transaction rules. This service ensures that your company remains compliant by updating templates to reflect any regulatory amendments throughout the engagement period. With the ASIC Rewrite now in effect as of October 21, 2024, our solution helps you seamlessly transition to the ISO 20022 XML reporting format, comply with T+2 reporting deadlines, and manage new data requirements, including UTI, UPI, counterparty details, collateral, and valuation reporting. 

Our ASIC Reporting Service Enables You To:

  • Extract, convert, and submit trades and/or positions required under ASIC’s OTC Derivatives reporting rules.
  • Comply with expanded reporting fields, including Action and Event Types, Directions, and Notional Amount fields.
  • Receive intraday and end-of-day reports for improved trade and margin transparency.

Challenges

  • Analysis & interpretation of complex ASIC regulation and TR requirements
  • Dedicated resources for technology, infrastructure and regulatory aspects
  • Extra effort, time and costs required

Risks

  • Lack of expertise that might lead to errors in your reporting
  • Missing regulatory updates that may affect your reporting
  • Limited capacity for daily monitoring of reporting and meeting the requirements

Key Features

  • LEI and trade detail enrichment from static data
  • Comprehensive field data and entity mapping capability
  • Connectivity and support for multiple TRs on a cross-asset class basis
  • Single and dual-sided reporting models
  • Connectivity flexibility for data provision
  • Powerful reconciliation engine that allows you to reconcile your trades with the TRs

UPI Link Search Tool

Our UPI Link Search Tool enables firms to match product attributes precisely to those already issued Unique Product Identifiers (UPIs) in the ANNA-DSB database. This ensures that reporting companies use the correct UPI Code for transaction reporting, reducing errors and ensuring compliance.

Benefits

  • Cost-efficient integrated reporting solution provided under a single platform
  • Lower technology costs as a result of eliminating the need to connect to multiple TRs
  • Integrated dashboard that provides a holistic view of all reports across all participants and TRs
  • Single solution for all asset classes across ASIC jurisdiction
  • Comprehensive regulatory reporting IT infrastructure resulting in long term cost efficiencies

Solution Includes

  • A team of specialists that will set up the service and provide training on extracting specific, relevant data as needed
  • ASIC training throughout the implementation process to ensure that key personnel understands the regulation and process
  • Support to answer any queries regarding the system and regulatory updates
  • Integration with an authorised TR by ASIC
  • Daily tracking of ASIC reporting

With the ASIC Rewrite introducing substantial changes, our expert team and advanced technology ensure you remain compliant, avoid regulatory pitfalls, and streamline your reporting processes efficiently.

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