What is ASIC Reporting?
Entities caught under the ASIC rules have a legal obligation to provide a set of prescribed data related to the activities that they are undertaking within the financial markets. Similar to EMIR reporting, ASIC requires lifecycle and position reporting.
ASIC’s set of prescribed data can also be split broadly into the following categories:
- Transaction Information – UTI , counterparty, execution timestamp etc
- Collateral Data – master agreements, collateralisation type etc
- Trade Economics – notional, price, currency, maturity date etc.
Similar to other OTC derivative reporting regimes such as CFTC, MAS and EMIR, the ASIC regime has undergone numerous iterations with the latest rewrite due to commence in October 2024. This will introduce a significant amount of change as a result of the regulator’s efforts towards global harmonisation and streamlining of derivative data reported under this regime.