Derivative transaction reporting
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.
This page contains:
ASIC Derivative Transaction Rules (Reporting)
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2024 Rules |
From 21 October 2024: ASIC Derivative Transaction Rules (Reporting) 2024 ASIC Derivative Transaction Rules (Reporting and Clearing) 2024 Amendment Instrument 2024/416 Note:
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Guidance |
Regulatory Guide 251 Derivative transaction reporting (RG 251) |
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Technical guidance |
ASIC 2024 Rules – Schedule 1 Technical Guidance (PDF 2.07 MB) ASIC 2024 Rules – Reporting Entity Guidance and Minimum TR Validation Guidance (XLS 113 KB) |
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Minister’s Determination |
Corporations (Derivatives) Determination 2023 determines the classes of derivatives in relation to which reporting requirements may be imposed |
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Exemptions |
Regulations 7.5A.70-74 of the Corporations Regulations 2001 exempts small-scale entities from reporting in certain circumstances ASIC Derivative Transaction Rules (Nexus Derivatives) Instrument 2024/603 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' |
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Measured compliance approach |
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 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. |
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Consultations |
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From 21 December 2022 until 20 October 2024 |
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From 10 July 2013 until 20 December 2022 ASIC Derivative Transaction Rules (Reporting) 2013 |
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.
The relevant current ISO 20022 message definitions and external code sets in the Financial Instruments and Transactions Regulatory Reporting (Trade Repository Reporting) message set are
| Topic | Key information |
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Transaction and Valuation reporting |
DerivativesTradeReportV04 |
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Collateral reporting |
DerivativesTradeMarginDataReportV02 |
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ASIC 2024 Rules mapping to ISO 2022 |
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ExternalBenchmarkCurveName1Code ExternalUnitOfMeasure1Code |