Regulatory Reporting | MAS Transaction Reporting

What is MAS Reporting?

The MAS reporting regime is a regulation set out by the Monetary Authority of Singapore for certain firms to report details of their over-the-counter (OTC) derivative transactions to a trade repository.

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Former FCA regulator, Sophia Fulugunya, discusses the MAS reporting regime.

About MAS

The MAS reporting regime, overseen by the Monetary Authority of Singapore, plays a pivotal role in ensuring transparency and stability in Singapore's over-the-counter (OTC) derivatives market. This framework requires specific financial institutions to report detailed information about their OTC derivative transactions to a designated trade repository.

Who Does This Affect?

The regime affects a diverse group of financial institutions in Singapore, including banks, merchant banks, finance companies, insurers, and any entity holding a capital markets services licence. Notably, the reporting obligation is double-sided – i.e. if either counterparty has a reporting obligation, both parties must report the transaction to MAS.

Reporting Requirements and Deadlines

The institutions that are tasked with reporting obligations and their counterparties must report their OTC interest rates, credit, foreign exchanges, commodities, and equities derivative transactions to MAS (exchange-traded derivatives are excluded from this mandate.) within two business days following the trade execution.

Outlook: The MAS Rewrite

Anticipating changes, the MAS Rewrite, which is set to launch on 21 October 2024, aims to align Singapore’s reporting standards with global practices. This includes adopting the ISO 20022 XML message format, reducing reporting fields from 162 fields to 136 fields and introducing new requirements for reporting the Unique Transaction Identifier (UTI), Unique Product Identifier (UPI), etc.

Rely On Qomply To Help

Qomply has a variety of solutions to help firms comply with their regulatory MAS reporting requirements as mandated under MAS Rewrite:

QomplyEngine generates MAS transaction reports QomplyEngine - Generate Transaction Reports From Raw Data
Builds transaction reports from raw data points and save resources and hassle by offloading transaction report generation
Quality Assurance for Transaction Reports ISIN Quest - Find the ISIN for the OTC derivative contracts
Instantly locate the reportable ISIN for a given trade date and instrument classification code.
Reconcile MAS Transaction Reports UPI Finder - Find the UPI related data for OTC derivative contracts
Combine with ISIN Quest, easily find the UPI and other associated data for your OTC derivative contracts.
QomplyDirect send reports directly to the FCA QomplyDirect - Submit Reports Directly to Regulator
Send Transaction Reports directly to the regulator bypassing the need to use an ARM thus reducing costs and improving efficiency
Outsource your MAS Report Operations Qomply Managed Services - Delegate Your Transaction Reporting Operations to Qomply
Qomply Managed Service alleviates the burden of technical expertise but also provides peace of mind that regulatory requirements are being met in a risk-free and cost-effective manner

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