The Monetary Authority of Singapore (MAS) requires firms to report details of their derivatives transactions to a trade repository.
Are you MAS reporting compliant?
CME Regulatory Reporting provide customised solutions that ensure clients meet their MAS reporting requirements without having to dedicate too much time, effort and resource, allowing them to focus on the core business. The solution combines guided onboarding, specialist consultancy and support, agile technology and regulatory end-point connectivity.
Who must report?
Unless exempted, an entity must report under the MAS derivative reporting regime if it is a ‘specified person’ as per Section 124 of the Securities and Futures Act, which mostly comprises Singaporean banks and also includes ‘significant derivatives holders’ defined in the regulation as having an aggregate gross notional amount of specified derivatives contracts which are booked in or traded in Singapore for the year does not exceed USD8bn.
The firm is a “specified person” as per section 124 of the Securities and Futures Act (this mostly comprises Singaporean banks and their subsidiaries, insurers and other financial companies)
The firm is resident in Singapore, and books trades in Singapore equal or greater than USD8bn in aggregate gross notional per year
The firm is resident in Singapore, and executes trades in Singapore equal or greater than USD8bn in aggregate gross notional per year
Transactions that need to be reported
Reportable OTC instruments include:
Reportable derivatives include those classed as interest rate, credit, foreign exchange, commodity and equity
These derivatives becoming reportable under phased commencement dates depending on class, whether the derivative is booked or traded in Singapore, and also type of ‘specified person’
These phased commencement dates started in April 2014 and the final two reporting commencement dates are October 2019 (for interest rate and credit derivatives traded in Singapore) and October 2020 (for foreign exchange, equity and commodity derivatives regardless of where traded), both for ‘specified persons’ that are not a bank, subsidiary of a bank or a merchant bank.
The CME Regulatory Reporting MAS service includes a connection to the DTCC Trade Repository, regulatory consultancy, advice & rule interpretation and standardised integration with common industry platforms.
One solution for all reporting obligations
Our Regulatory Reporting Hub is designed to receive, process, enrich and distribute transaction data routing it to relevant regulatory bodies under multiple global regimes: MiFID II, EMIR, ASIC, MAS and others.