NEX Launches OTC Derivatives Trading Solution for ASIC Reporting

NEX Regulatory Reporting, a provider of regulatory reporting services and part of the , announced today that it has launched a new solution for transaction and position reporting for over-the-counter (OTC) derivatives trading.
The solution helps both Australia-based firms and international companies trading in Australia to meet the OTC derivatives trade reporting requirements of the (ASIC).

As each firm is different and regulation changes from country to country, the solution gives clients an evaluation which details their specific ASIC transaction reporting requirements. This includes product-specific obligations, trading methodology and so on.
Once a firm has on-boarded the solution they will then connect to NEX Regulatory Reporting Hub. Here, their transaction data will undergo data normalisation, enrichment, determination and validation. This is to ensure that the data is up to scratch before being delivered to the licensed trade repositories – or DTCC ASIC.
OTC derivatives trade reporting enhances market transparency
ASIC originally introduced OTC derivatives trade reporting requirements back in 2013. The motivation behind the move was to improve risk management and enhance transparency in the market.
Under the requirements, firms can either report derivatives to a licensed trade repository as an ‘end-of-day snapshot’ or within a full lifecycle report. The service allows firms to choose which way they want to report their data as it has the capability to do both.