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Knowledge Base

MAS

MAS

Everything you need to know about trade reporting in Singapore

Regulations and Requirements

What are the important Monetary Authority of Singapore regulations

Compliance Concepts

What is an OTC derivative (Specified Derivatives Contract) under MAS reporting?

How is timeliness calculated for Singapore (MAS) TR?

Who needs to report under MAS?

What is a business day for MAS reporting?

Who is exempt from reporting under MAS?

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Transactions

Under MAS, when do I need to report?

Identifying Reporting Obligations

Singapore: Who is subject to reporting obligations?

Singapore: Who is exempted from the reporting obligations?

Singapore: Does a CMSL, subsidiary of a bank incorporated in Singapore, or licensed insurer which is exempted from reporting obligations under Regulation 10A or 10C of the SF(RDC)R need to validate

Singapore: What happens when an entity relying on the exemption under Regulation 10A or 10C of the SF(RDC)R subsequently no longer qualifies for the exemption (e.g. exceeds the threshold aggregate gr

Singapore: Who is a significant derivatives holder (SDH)? When does a person become an SDH?

Singapore: What are the reporting obligations of an entity that has just become an SDH?

Singapore: When does a person cease to be an SDH?

Singapore: How is the aggregate gross notional amount calculated?

Singapore: What derivatives contracts are relevant for the calculation of the aggregate gross notional amount?

Singapore: How is the FX swap accounted for in the calculation of the aggregate gross notional amount?

Singapore: Do both parties to a derivatives contract need to report?

Singapore: Who is required to report if a derivatives contract is executed or caused to be executed by an agent of a party to the contract?

Singapore: Can a reporting entity report derivatives contracts that are outside the scope of the reporting obligations?

Singapore: What happens after a reporting entity is no longer subject to the reporting obligations?

Singapore: Can reporting entities submit a reportable derivatives contract early before the reporting deadline with incomplete information, and subsequently report the full set of information?

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Identifying Reportable Derivatives Contracts

Singapore: What derivatives contracts need to be reported (reportable derivatives contracts)?

Singapore: Do derivatives contracts entered into before the reporting commencement date need to be reported?

Singapore: Do futures contracts, block futures contracts or other exchange-traded derivatives contracts need to be reported?

Singapore: Are inter-branch transactions exempted from reporting?

Singapore: Are intra-group transactions exempted from reporting?

Singapore: Is there an exemption for transactions with certain types of counterparties, e.g. central banks?

Singapore: How should derivatives contracts with rollover of expiry, such as contracts for difference or foreign exchange (FX) accumulators, be reported?

Singapore: Do derivatives contracts which expired or is terminated within T+2 need to be reported?

Singapore: Can reporting be done to reflect only the end-of-day consolidated position?

Singapore: What types of trade lifecycle events are to be reported?

Singapore: For derivatives contracts such as contract for differences (CFDs), are reporting entities allowed to submit a position report that captures the lifecycle of the contract?

Singapore: Under what circumstances does a FX contract need not be reported?

Singapore: What is “business day” under “excluded currency contract”?

Singapore: FX Swap - Do reporting entities need to report the near leg of the swap which is a spot contract or just the forward contract if the near leg is settled within T+2?

Singapore: Are spot FX contracts reportable?

Singapore: How should the valuation of FX swaps be reported?

Singapore: Are equity options which are linked to performance or compensation of employees and directors reportable derivatives contracts?

Singapore: Are repurchase agreements (Repos) reportable?

Singapore: For reporting purposes, which asset class should forwards, options or total return swaps referencing bonds be reported under?

Singapore: Is a commodity derivative contract, which is physically settled and has embedded options, reportable?

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Reporting Nexus

Singapore: When is a derivatives contract considered to be booked in Singapore?

Singapore: When is a derivatives contract considered to be traded in Singapore?

Singapore: When will a trader be considered a Singapore Trader for the purposes of the definition of “traded in Singapore”?

Singapore: How should the “trader location” field be filled in?

Singapore: What is the difference between this criterion in the SF(TDC)R and the concept of derivatives contracts which are “traded in Singapore” in the SF(RDC)R?

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Information to be reported

Singapore: What information needs to be reported?

Singapore: Where a counterparty to the derivatives contract has a new legal entity identifier (LEI), does the reporting entity need to amend the reported trade to reflect the change?

Singapore: How frequently should a reporting entity update the valuation fields?

Singapore: Can a bank in Singapore report counterparty information to meet its reporting obligations?

Singapore: Are precious metals derivatives contracts considered foreign exchange or commodity derivatives contracts?

Singapore: If a reporting entity is a branch, which LEI should it use when reporting derivatives contracts?

Singapore: If a derivatives contract is amended for the purpose of implementing interest rate benchmark reforms, would the amendment be subject to reporting requirements?

Singapore: Where a counterparty has a sub-agreement that is different from the master agreement’s credit support annex (CSA), how should the “collateralisation category” data field be reported?

Singapore: Are Reporting entities who are acting as agents required to report collateral?

Singapore: When re-reporting a previously reported derivatives contract following the commencement of the revised SF(RDC)R, are reporting entities required to generate a new UTI?

Singapore: When submitting a report for a previously reported derivatives contract, are reporting entities required to submit information that was not previously captured or reported?

Singapore: How should reporting entities report under the data field “Reporting obligation of specified person”, if the specified person has multiple jurisdictional reporting obligations?

Singapore: When should reporting entities populate the data fields “FX swap link ID” and “Package identifier”?

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Cross-Border Activities

Singapore: If a derivatives contract is subject to reporting in multiple jurisdictions, can the trade be taken to have been reported in Singapore when reported elsewhere?

Singapore: How should a reporting entity comply with reporting obligations if it is prevented from reporting customer or counterparty information under foreign laws?

Singapore: What happens if a reporting entity needs some time to adapt to changes in foreign laws that previously prohibited the reporting of customer or counterparty information?

Singapore: How may a reporting entity demonstrate that it has undertaken reasonable efforts to obtain the necessary consent of its customer or counterparty?

Singapore: Do the exemptions to report customer or counterparty information in Regulation 11 to 11C of the SF(RDC)R apply to derivatives contracts which are booked and/or traded in Singapore?

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UTI and UTI Generation

Singapore: Can a reporting entity use an internally generated UTI if it is unable to obtain the final UTI in time?

Singapore: How should a reporting entity update the interim-UTI to the final-UTI?

Singapore: Should a reporting entity continue to make efforts to obtain the final-UTI after the derivatives contract has expired or is terminated?

Singapore: For derivatives executed by counterparties with a reporting nexus across multiple jurisdictions, how should a reporting entity determine the UTI generator under the UTI waterfall?