MAS Reporting

The Monetary Authority Singapore (MAS) implemented the ‘Securities And Futures (Reporting of Derivatives Contracts) Regulations 2013’, as part of Singapore’s response to the G20 agreement to mandate reporting of all OTC derivatives.

What is MAS Reporting?

MAS has rolled out the Singapore reporting in stages based on the asset class involved, whether the contract was booked in, or traded in Singapore, and the size/type of firm involved.

Reporting began in April 2014 for credit and interest rate OTC derivative contracts with banks and merchant banks licensed in Singapore being the first firm types obligated to report. Credit and interest rate reporting was quickly extended to other firms including bank subsidiaries, insurers, finance companies in July 2014. For banks and merchant banks reporting of FX derivatives commenced in May 2015 with the obligation to report equity and commodity derivatives beginning in October 2018.

Reporting FX, equity and commodities was originally scheduled to begin for the other firm types (bank subsidiaries, insurers, finance companies etc.) in October 2020 but this was delayed due to the Covid-19 pandemic and is now required from 1 October 2021.

DTCC and CME both operated MAS approved trade repositories but CME has closed its MAS TR so all reporting is now via DTCC’s Singapore GTR.

MAS is engaged in consultation processes around reporting changes and will be implementing its own rewrite of the reporting rules.

How we can help

Our ReportShield™ quality assurance services give you the ability to demonstrate appropriate controls over your reporting obligations for MAS across all five asset classes. We can also conduct cross-regulation testing to ensure consistency with other regimes and provide remediation of reports.

What MAS Reporting challenges are you facing?

For a conversation with one of our regulatory specialists, please get in touch.

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