MAS Goes Live with Reporting Requirement for OTC Commodity, Equity Trades

Firms must report OTC derivatives transactions in commodities and equities to a licensed trade repository; DTCC welcomes the MAS’ move to improve transparency and reduce risk.

MAS (the Monetary Authority of Singapore) on Monday (1 October) went live with new requirements for firms to report OTC derivatives transactions in the commodities and equities segments.

The move is expected to bring increased transparency and reduced risk to the derivatives market. Credit, interest rate and FX asset classes already fall under MAS’ OTC derivatives reporting regime.

“We welcome the MAS’ move to build on the ongoing implementation of reforms established by the G20 almost a decade ago,” said Oliver Williams, Executive Director and Regional Head of DTCC’s Global Trade Repository (GTR) business for Asia, which supports the new requirement to report commodities and equities derivatives.

DTCC’s GTR service in Singapore is provided through DDRS (DTCC Data Repository Singapore), currently the only regulated trade repository in Singapore.

> ALSO READ: Talking Derivatives Trade Reporting with DTCC’s Oliver Williams

The GTR service was re-architectured and re-launched in August to boost transparency, enhance efficiency and reduce complexity for its users. It holds highly detailed data on OTC derivatives transactions, making it an “essential tool for the benefit of market participants and regulators alike,” said Williams.

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