ISDA Digital Regulatory Reporting takes effect in Australia and Singapore
21 October 2024 Australia, Singapore
Image: chaylek/stock.adobe.com
The Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC) have implemented new over-the-counter (OTC) derivatives reporting requirements.
The International Swaps and Derivatives Association (ISDA) extended its Digital Regulatory Reporting (DRR) initiative to several additional jurisdictions in April.
The updated regulations, aiming to enhance transparency and oversight in OTC derivatives markets, come into effect in Australia and Singapore today (21 October).
The UK implemented the DRR under the UK European Market Infrastructure Regulation (EMIR) on 30 September.
Broadridge Financial Solutions has confirmed that its platform is ready to support the new requirements.
The firm is also expanding its offerings to include other updated regulatory regimes, such as the Canadian rewrite scheduled for July 2025 and the Hong Kong rewrite for September 2025.
“We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our clients to help them meet their compliance requirements,” says Ben Cooling, general manager of regulatory trade and transaction reporting at Broadridge.
“The upcoming Canadian and Hong Kong rewrites are part of a global initiative aimed at enhancing the consistency and transparency of derivatives reporting, reflecting similar updates by regulators in the US, Japan, and Europe.”
Following the addition of the European Money Market Statistical Reporting (MMSR), which went live with an upgrade to v3.6 of rules in July 2024, Broadridge is developing the US equivalent of Securities Financing Transactions Regulation (SFTR) – the SEC 10c-1 – scheduled for January 2026.
Broadridge will also be upgrading its solution to cater for major EU and UK MiFID updates, scheduled to come in over 2025 to 2027, and the final updates to Commodity Futures Trading Commission (CFTC) Dodd-Frank Reporting.
ISDA will further extend the DRR to cover rule changes in Canada and Hong Kong, both due in 2025.
The International Swaps and Derivatives Association (ISDA) extended its Digital Regulatory Reporting (DRR) initiative to several additional jurisdictions in April.
The updated regulations, aiming to enhance transparency and oversight in OTC derivatives markets, come into effect in Australia and Singapore today (21 October).
The UK implemented the DRR under the UK European Market Infrastructure Regulation (EMIR) on 30 September.
Broadridge Financial Solutions has confirmed that its platform is ready to support the new requirements.
The firm is also expanding its offerings to include other updated regulatory regimes, such as the Canadian rewrite scheduled for July 2025 and the Hong Kong rewrite for September 2025.
“We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our clients to help them meet their compliance requirements,” says Ben Cooling, general manager of regulatory trade and transaction reporting at Broadridge.
“The upcoming Canadian and Hong Kong rewrites are part of a global initiative aimed at enhancing the consistency and transparency of derivatives reporting, reflecting similar updates by regulators in the US, Japan, and Europe.”
Following the addition of the European Money Market Statistical Reporting (MMSR), which went live with an upgrade to v3.6 of rules in July 2024, Broadridge is developing the US equivalent of Securities Financing Transactions Regulation (SFTR) – the SEC 10c-1 – scheduled for January 2026.
Broadridge will also be upgrading its solution to cater for major EU and UK MiFID updates, scheduled to come in over 2025 to 2027, and the final updates to Commodity Futures Trading Commission (CFTC) Dodd-Frank Reporting.
ISDA will further extend the DRR to cover rule changes in Canada and Hong Kong, both due in 2025.
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