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

As reporting obligations are imposed on the reporting entities, if a derivatives contract is  entered into between two reporting entities, both parties need to report. 

If a derivatives contract is entered into between a reporting entity and a party who is not  a reporting entity, only the reporting entity needs to report. 

A reporting entity may give consent to the counterparty of a derivatives contract, or any  other third party, to report on its behalf.

Reference: 

• Section 125 of the SFA