The ASIC Derivative Transaction Rules (Reporting) 2024 (the 2024 Rules) set out the requirements for reporting entities to report derivative transaction information to derivative trade repositories.
We recognise that the 2024 Rules are a significant overhaul compared to the prior ASIC reporting rules requirements, including that ISO 20022 is specified as the technical standard for reporting. Since making the 2024 Rules in December 2022 there have been ongoing international developments and dependencies for consideration ahead of settling ASIC guidance, published in September 2024. Also, we are aware that other jurisdictions will be going live with revised reporting requirements on or around the same time as ASIC. Therefore, we will take a measured approach to compliance until 1 March 2025 for reporting entities that make reasonable efforts to comply with the 2024 Rules.
If ASIC identifies deliberate or systemic breaches, or a failure to make all reasonable endeavours to come into compliance, we will take regulatory action.
Consultations
Report 792 Response to submissions on CP 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation (REP 792)
Consultation Paper 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation (CP 375)
Consultation Paper 361a ASIC Derivative Transaction Rules (Reporting) 2024: Follow-on consultation on changes to data elements and other minor amendments (CP 361a)
Consultation Paper 361 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): Second consultation (CP 361)
Consultation Paper 334 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): First consultation (CP 334)
Report 755 Proposed changes to simplify the ASIC Derivative Transaction Rules (Reporting): Second consultation (REP 755)
exemptive relief allowing foreign reporting entities to apply an alternative test for reportable transactions and reportable positions 'entered into by the reporting entity in this jurisdiction'
Exempts J.P. Morgan SE from being required to report certain entity identifying information under the ASIC Derivative Transaction Rules (Reporting) 2024, subject to the conditions of the instrument
Exempts JPMorgan Chase Bank, N.A. from being required to report certain entity identifying information under the ASIC Derivative Transaction Rules (Reporting) 2024, subject to the conditions of the instrument
For past rules, see:
2022 Rules - From 21 December 2022 until 20 October 2024
2013 Rules - From 10 July 2013 until 20 December 2022
ISO 20022 Universal financial industry message scheme
The 2024 Rules require reporting to a trade repository using the XML tags of an ISO 20022 message definition whose message elements include the Derivative Transaction Information set out in Part S1.3 – see Rule 2.2.4.
ISO 20022 message definitions and external code sets
