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Singapore (MAS) Derivative Trade Reporting
Overview of Singapore Reporting (MAS)
The regulation of over-the-counter (OTC) derivatives in Singapore is primarily governed by the Monetary Authority of Singapore (MAS) under the Securities and Futures Act (SFA) and related regulations.
If you’re unsure if your entity is subject to these requirements, contact us for a consultation.
Understanding OTC Derivatives Subject to Reporting under MAS
Over-the-Counter (OTC) derivatives are financial contracts privately negotiated and traded directly between two parties, rather than on a formal public exchange (like the SGX). Their value is derived from an underlying asset, index, or rate, such as interest rates, currency exchange rates, commodities, stocks, or credit events.
The key characteristic of OTC derivatives is their flexibility – terms can be customised to meet the specific needs of the counterparties. However, this private nature historically led to less market transparency. To address this and monitor potential systemic risks, MAS mandates the reporting of transactions in certain OTC derivative classes.
MAS regulations cover a range of OTC derivatives, including interest rate, foreign exchange, credit, equity, and commodity derivatives. Certain exemptions may apply based on the type of counterparty or the specific characteristics of the derivative contract.
MAS requires the reporting of all derivative contracts (OTC and exchange-traded) where at least one counterparty is a reporting entity in Singapore.
This includes details of the counterparties, the terms of the contract, and any collateral posted.
Reporting can be single-sided (where one counterparty is responsible for reporting the entire transaction) or dual-sided, depending on the type of counterparties involved.
Let us help you understand if the dual-sided or delegated reporting model is right for your business
The reporting deadline under MAS regulations is generally T+1 business day following the trade date for most derivative contracts.
Reports must be submitted electronically to a trade repository (TR) licensed or recognised by MAS.
The reporting format and data fields are specified in MAS Notices and follow international standards where applicable.
MAS periodically reviews and updates its regulations on derivative trade reporting to align with international standards and address evolving market practices. Reporting entities need to stay informed of any amendments or new requirements issued by MAS.
Contact us to understand how these changes will affect your specific reporting obligations.
Key Challenges in MAS Reporting
How We Help You Stay Compliant with MAS Regulations
Expert MAS Regulatory Guidance
Our specialists provide comprehensive analysis of your derivative reporting obligations under MAS regulations.
Data Mapping and Validation
We assist with mapping your transaction data to the required MAS reporting fields and implementing robust validation processes.
Connectivity to MAS-Licensed Trade Repositories
We can help establish and manage secure connections to relevant trade repositories.
Delegated Reporting Services
We offer efficient and reliable delegated reporting services to manage your MAS reporting requirements.
Regulatory Updates and Training
We provide timely updates on MAS regulatory changes and offer tailored training programs for your team.
Need Compliance Support for MAS Reporting?
Our experienced team is ready to help you navigate the intricacies of MAS derivative trade reporting and ensure accurate and timely compliance. Contact us for a consultation today.