CP 334 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): First consultation

Released 27 November 2020. Comments Close 15 March 2021.

This consultation paper sets out our first proposals to amend the ASIC Derivative Transaction Rules (Reporting) 2013 made under s901A of the Corporations Act.

We are seeking the views of interested stakeholders on our proposals. We also request certain information from stakeholders to inform the development of future proposals.

22 February 2021: In response to a number of requests from stakeholders, ASIC has decided to extend the closing date for feedback on CP 334 by two weeks to 15 March 2021.

27 January 2021: We wish to draw stakeholders’ attention to ESMA’s 17 December 2020 final report on its derivative transaction reporting rule changes and the changes or final options adopted at 4.2.2 (UTI) and at 4.2.4 Use of (LEIs).

Given our in-principle intent to align as closely as practical with the rules of other jurisdictions, we will consider also adopting such changes in the next version of proposed ASIC rules for consultation.

Stakeholders should take this into account in their feedback to CP 334.

We have provided below a Word version of the list of proposals and questions to assist stakeholders in compiling feedback.


ASIC received 40 submissions to CP 334. Below are the non-confidential submissions from entities.

  1. APIR Systems Limited (PDF 215 KB)
  2. DTCC Data Repository Singapore Pte. Ltd. (PDF 266 KB)
  3. Equity Trustees Limited (PDF 2.27 MB)
  4. Global Legal Entity Identifier Foundation (PDF 244 KB)
  5. IG Markets (PDF 1.20 MB)
  6. IHS Markit (PDF 266 KB)
  7. ISDA, AFMA and GFMA joint submission (PDF 549 KB)
  8. LCH Limited (PDF 268 KB)


Legal Entity Identifiers

4.2.4 Legal Entity Identifiers:
This includes not requiring that the LEI of foreign Counterparty 2s be validated as a renewed LEI.

Unique Trade Identifier

4.2.2 Unique Trade Identifier:
These include adopting ‘Option 2’ and introducing a specific cross-jurisdictional waterfall including bilateral agreement.

Last updated: 27/11/2020 12:00