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?

An FX swap can be seen as a combination of two contracts (i.e. a spot contract  and a forward contract, or two forward contracts). 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? Should both legs of the swap share  the same unique transaction identifier (UTI)?  

Yes, a swap contract should be viewed in its entirety, hence the near leg should also be  reported regardless of whether it is a spot contract or a forward contract and regardless  of whether it is settled within T+2.  

It is important that both legs of the swap are reported to the trade repository in a manner  that allows MAS to identify that the reported contracts form a single swap contract.  Reporting entities can approach the trade repository to seek clarification on how the  reporting of each leg should be done such that they can be linked together as the same  contract. As the FX swap is currently reported as two separate contracts, the two legs of  the swap would each need a distinct UTI.

Please note that this is separate from the computation of aggregate gross notional  amount regarding FX swaps.

KOR NOTE: to do this the package identifier field must be used.