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ASIC Reporting (TR)

The deltaconX regulatory platform enables ASIC Reporting – Australian Securities and Investment Commission Reporting (TR)so that your day-to-day operations are streamlined and your ability to work is optimised.

ASIC Reporting refers to the mandatory derivatives transaction reporting regime implemented by the Australian Securities and Investments Commission (ASIC) for the monitoring and prevention of systemic risk.  

Australian firms must submit mandatory reports to an ASIC recognized Trade Repository

ASIC took the step to recognize EMIR as an equivalent reporting regime to enable non-Australian firms to report to their approved EMIR Trade Repository if they use a trade repository not recognized by ASIC.

flag australia

Lower total cost of ownership

Reduce your costs with our unified SaaS platform that streamlines your processes.

  • Decrease your manual efforts
  • Avoid in-house developments
  • Reduce the need for in-house expertise
  • Eliminate the need for on premise installation

What is the reporting obligation?

The obligation requires OTC derivatives to be reported across to one of two types of trade repositories: Prescribed Trade Repository or Licensed Derivative Trade Repository. In either scenario the derivatives need to be reported includes the following asset classes.

  • Commodity (other than electricity derivatives)
  • Credit
  • Equity
  • Foreign Exchange
  • Interest Rate

ASIC requires the following information to reported for each derivative:

  • Primary economic terms
  • The product and entity identifiers
  • Whether the position is centrally cleared
  • Valuations
  • Collateral information

Currently DTCC is the only licensed trade repository (TR) in Australia.

Who is required to report?

Two types of market participants are currently obligated to report:

  • Firms with a total gross notional position above AUD $5 billion
  • Firms with a total gross notional position below AUD $5 billion

The reporting obligation is mandatory for all reporting entities above AUD $5 billion, however any entity with a total gross notional position below AUD $5billion may opt-in to single-sided reporting where they do not need to report as long as their counterparty reports the trade.

This separation has introduced the concept of single sided reporting, as ASIC is primarily focused on larger financial institutions that are systemically influential.

This reduces the workload on smaller firms, but it is however critical to note that even where the firm with a position below AUS $ 5 billion still retains the obligation to ensure that their counterparty has reported on their behalf in a timely and accurate manner.

When do reports have to be made?

The current ASIC reporting regime is expected to undergo a revision in Q3 2023.

T+1, the day after the trade is executed.

User-friendly compliance

A platform that helps you focus on what matters.

  • Take complete control over all data and processes
  • Automatically stay current with regulatory changes
  • Ensure built-in, seamless multi-jurisdiction compliance
  • Stop dealing with maintenance or custom setups

deltaconX provides highest flexibility by supporting multiple jurisdictions within a unified platform.

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Fully Integrated ASIC Reporting

The deltaconX SaaS platform offers the capability to incorporate the ASIC Reporting requirements into our unified and standardised workflow, so that you only need to focus on the necessary data for the required asset classes.

We completely remove any confusion surrounding the requirements for ASIC Reporting compliance by ensuring that the required data is captured and provided to satisfy ASIC Reporting requirements for each derivative.

Because our unified deltaconX workflow is built to focus your attention only where it’s needed, meeting the ASIC Reporting have never been easier as all the requirements and safeguards are built into our platform itself.

Integrated Comliance Expertise

We help you move away from relying on external consultants or trying to maintain complex internal solutions that eat up significant amounts of time and resources, and actually reduce your burden of compliance.

Our platform has the combined experience from across the entire data reporting chain integrated so that you can finally eliminate the need for expensive in-house know-how and switch to a simpler way of working with a proven track record of reducing manual efforts by up to 80%.

 

In this sense deltaconX makes it both quick and easy to make sure that everything is available to validate your ASIC Reporting while actually taking the pressure off your existing resources.

By building expertise from across our entire data reporting chain into the platform itself, we’re also able to proactively work on of bigger shifts, changes, or even revisions to the regulations without passing the burden on to you.

Evergreen Compliance is Futureproofed Compliance

As the regulatory reporting bodies start to move their focus away from data completeness towards data quality, remaining compliant will prove to become a bigger challenge over time.

22Unlike other solutions deltaconX can actually provide you with the complete picture of the cost of ASIC Reporting compliance with an unprecedentedly clear TCO – even as reporting compliance requirements change over time.

With deltaconX you get more than just a SaaS based solution provider, you get a long-term partner that proactively helps you reduce the burden of compliance and actually frees up resources that can start focusing on your core business.