The Australian Securities and Investments Commission (ASIC) has issued its final rules around over-the-counter (OTC) derivatives trade reporting for financial institutions.
The regime is set out in a package of rules and guidance released by ASIC today on a new OTC derivatives reform webpage.
The reforms, which have been in the consultation stage since March 2013, have been designed to ensure consistency with international requirements.
The reporting rules establish who needs to report to trade repositories, what information will need to be reported, and when the reporting obligation will start for different classes and instrument types.
"This regime is designed to better enable regulators to identify systemic risk concerns and potential market abuse, by enhancing the transparency of information to regulators and the market," ASIC commissioner Cathie Armour said.
While final trade reporting rules are in place, final regulatory guidance on those rules is expected to be published in coming weeks. In the meantime, FAQ material on the trade reporting rules has been published on ASIC's website.
End users of OTC derivatives will not be covered by the reporting regime. ASIC will consult on their reporting obligations later this year.
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