The Monetary Authority of Singapore (MAS) requires firms to report details of their derivatives transactions to a trade repository.
Are you MAS reporting compliant?
NEX Regulatory Reporting provide customised solutions that ensure clients meet their MAS reporting requirements without having to dedicate too much time, effort and resource, allowing them to focus on the core business. The solution combines guided onboarding, specialist consultancy and support, agile technology and regulatory end-point connectivity.
Who must report?
If a firm satisfies any one of the following criteria, it is considered a ‘significant derivatives holder’ and therefore must report under MAS.
The firm is a “specified person” as per section 124 of the Securities and Futures Act (this mostly comprises Singaporean banks and their subsidiaries, insurers and other financial companies)
The firm is resident in Singapore, and books trades in Singapore equal or greater than USD8bn in aggregate gross notional per year
The firm is resident in Singapore, and executes trades in Singapore equal or greater than USD8bn in aggregate gross notional per year
Transactions that need to be reported
Reportable OTC instruments include:
Credit derivatives (only those traded in Singapore for those who aren’t specified persons)
Foreign exchange derivatives (although not for firms who aren’t specified persons)
Interest rate derivatives (only those traded in Singapore for those who aren’t specified persons)
“The NEX Regulatory Reporting MAS service includes a connection to the DTCC Trade Repository, regulatory consultancy, advice & rule interpretation and standardised integration with common industry platforms.”
One solution for all reporting obligations
Our Regulatory Reporting Hub is designed to receive, process, enrich and distribute transaction data routing it to relevant regulatory bodies under multiple global regimes: MiFID II, EMIR, ASIC, MAS and others.