RegTech Intelligence

Cross asset class? Australia finalises trade reporting regime

The Australia has produced final implementing regulation that will implement their derivatives trade reporting regime. ASIC consulted on rules for trade repositories and trade reporting in March and April 2013, and expects these rules to be finalised and enter into force in July.

These draft regulations include restrictions on ASIC’s rule making power in relation to end users and operational measures to ensure the trade reporting regime has appropriate regulations governing the enforcement of trade reporting rules and regulations for confidential information.

Reporting obligations will be imposed across all five derivatives asset classes: commodity derivatives that are not electricity derivatives; credit derivatives; equity derivatives; foreign exchange derivatives; and interest rate derivatives. The draft regulation will apply following the entry into force of the Australian Securities and Investments Commission (ASIC) rules for trade repositories and trade reporting which are due to be finalised this month.

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