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MAS Reporting (TR)

The deltaconX regulatory reporting solution enables MAS reporting – Monetary Authority of Singapore Transaction Reporting in a way that helps streamline day-to-day reporting to make sure that OTC SDCs are correctly included in your MAS trade reports.

MAS Reporting is the term given to the requirement by the Monetary Authority of Singapore for certain firms to report details of their derivatives transactions to a trade repository.

This requirement was enacted in the “Securities and Futures Act (Reporting of Derivatives Contracts) Regulation”, 2013. Updated in October 2018, the regulation covers OTC derivative trades for credit, FX, equity, commodity, and interest rate contracts.

Interest Rates and Credit Derivatives were the first asset classes reportable under MAS Reporting. In October 2021 FX, Commodity and Equity OTC derivative contracts were added, for local financial institutions and insurers as well as subsidiaries of international companies in Singapore.

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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 following types of derivatives contracts which are booked in Singapore or traded in Singapore need to be reported:

  • Interest rate
  • Credit
  • Foreign exchange
  • Commodity
  • Equity

Who is required to report?

The following persons and entities are subject to MAS reporting obligations:

  • Any holder of a capital markets services license (CMSL) subject to exemption.
  • Any Significant Derivatives Holder (SDH) as set out in section 6 of the Regulations.
  • Any bank in Singapore licensed under the Banking Act (Chapter 19).
  • Any subsidiary of a bank incorporated in Singapore subject to exemption.
  • Any merchant bank approved as a financial institution under the Monetary Authority of Singapore Act.
  • Any finance company licensed under the Finance Companies Act.
  • Any insurer licensed under the Insurance Act subject to exemption.

This is covered at Section 124 of the Act and Section 6 of the Regulations.

The reporting obligation is double-sided – i.e., if either counterparty to a trade that is in scope has a reporting obligation, they must report the transaction. However, there are exemptions from reporting if certain criteria are met.

When do reports have to be made?

The mandatory reports must be submitted daily to a designated trade repository within two business days (T+2) of the transaction.

Currently, the only licensed Trade Repository is DTCC GTR.

Who are Significant Derivatives Holders (SDH)?

Any person who:

  • Does not fall into any category listed in the ‘Who is required to report? section.
  • Are a resident in Singapore.
  • Their aggregate gross notional amount of SDCs traded in Singapore for the year exceeds SGD 8 billion.

Who is exempt from trade reporting obligations?

The Regulations provide some exemptions from the reporting obligations for the following entities:

  • A Capital Markets Services Licence (CMSL) holder:
  • which has carried on its business or operations for less than 4 consecutive quarters.
  • if the threshold of SGD 5 billion threshold* is met: or
  • the counterparty to the relevant SDC is not an accredited investor or an institutional investor (i.e., retail investors).
  • An approved trustee mentioned in section 289 of the Act.
  • A licensed trust company that entered the SDC as a trustee.
  • A subsidiary of a bank incorporated in Singapore:
  • which has carried on its business or operations for less than 4 consecutive quarters: or
  • if the threshold of SGD 5 billion threshold is met.
  • A licensed insurer:
  • which has carried on its business or operations for less than 4 consecutive quarters: or
  • if the threshold of SGD 5 billion threshold is met: or
  • any persons as specified in the fourth schedule of the Regulation including the Singapore government, central banks, multilateral development agencies and international organisations.

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 MAS Reporting

The deltaconX SaaS platform offers the capability to incorporate these MAS reporting requirements into our unified and standardized workflow, which simplifies compliance by only highlighting the actual areas requiring attention.

We essentially eliminate any confusion or complexity around mandated MAS Reporting by ensuring that the necessary data is captured and provided as required by the Monetary Authority of Singapore.

The unified deltaconX workflow means that your attention is focused only where it’s needed so that the relevant data in OTC derivatives are captured and available to meet the reporting obligation requirements of the MAS.

Integrated Compliance Expertise

Instead of using internally managed solutions that take up significant time and resources, or turning to expensive experts, deltaconX actually lessens the burden of MAS compliance.

We eliminate the need for in-house experts completely and have simplified working with our platform by reducing manual efforts by up to 80%, so that it’s both quick and easy to make sure that everything is available to validate your OTC derivative trades.

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

Anticipating the MAS Updated Reporting

The upcoming changes to MAS Reporting where OTC derivatives will include additional UTI requirements both in terms of UTI generation and reporting, but what does that mean to your business?

Even though the aim is to amend the current Securities and Futures (Reporting of Derivatives Contracts) Regulations sf(rdc)r, understanding the lifecycle reporting requirements can feel like a daunting task.

Instead of putting more pressure on internal resources on refactoring existing compliance solutions or pouring more money into consultancy fees, deltaconX offers a simplified alternative by providing a proven platform that can handle the MAS Reporting changes for you.

With extensive experience in data-quality driven reporting compliance and enabling customers to make the switch from DIY compliance solutions – deltaconX offers a unique opportunity to simplify compliance with your MAS Reporting.

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.

Unlike other solutions, deltaconX can actually provide you with the complete picture of the cost of MAS compliance, with an unprecedentedly clear TCO that gives you a crystal-clear insight into what the bottom line is.

Even though the MAS Reporting rewrite is still far away, knowing exactly how much it’s going to cost to adapt to these changes has never been more important.

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.