What is regulatory reporting?

The mandatory submission of data in prescribed formats by financial institutions due to regulatory requirements including, for example transaction reporting to a trade repository for; ASIC, Canada, CFTC, EMIR, HKMA, MAS and MiFID. This data provides transparency to various regulators which allows them to perform their regulatory mandates which include; market abuse, competition and systemic risk. There are different regulatory reporting requirements, which must be submitted to the relevant regulatory bodies on a daily, monthly, quarterly, semi-annual and annual basis.

What is a trade repository?

A registered entity that collects and maintains records of transactions, such as The Depository Trust & Clearing Corporation (DTCC), Hong Kong Exchanges (HKEX) and CME Group. These electronic platforms act as registries of over-the-counter (OTC) derivatives, exchange traded derivatives, and securities financing transactions.

What is trade and transaction reporting?

Trade reporting focuses on ensuring public transparency and transaction reporting is used to provide more detailed transparency to regulators, which allows regulators to detect and prevent market abuse, and assess systemic risks.

What is the difference between EMIR and MiFID II reporting?

EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk. MiFID II requires trade reporting to the public and transaction reporting to NCAs for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.

What is the difference between CFTC and Canadian reporting?

Both Canadian and the Commodity Futures Trading Commission (CFTC) require single sided transaction reporting with the obligation to report falling on the reporting counterparty which is typically the Derivatives Dealer in Canada and the Swap Dealer under CFTC. Unlike CFTC which has a single regime, Canadian reporting is split across 13 provinces and territories including Ontario Securities Commission, Manitoba Securities Commission and Authorite des marches financiers (Quebec). Different firms fall under the jurisdiction of different regulators based on several factors and often transactions need to be reported to multiple regulators within Canada.

What is reportable under MiFID II?

MiFID II requires trade reporting to the public and transaction reporting to National Competent Authority's (NCAs) for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.

What is EMIR transaction reporting?

EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk.

Financial Services MarkitSERV

Integrated Reporting

Holistic regulatory reporting platform for cross-asset, multi-jurisdictional trade reporting

Reporting obligations across multiple regimes are becoming increasingly complicated, highly fragmented, and administratively burdensome. IHS Markit’s Integrated Reporting offers a one-stop solution to support transactions across all asset classes, including valuation and collateral reporting to multiple jurisdictions and key trade repositories. Our expansive coverage includes reporting for ASIC, Canada, CFTC, EMIR, HKMA, MAS and MiFID across credit, commodities, exchange traded derivatives, equities, foreign exchange and rates.

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Integrated Reporting integrates regulatory reporting with other post trade and compliance workflows - from data submission, management, reconciliation to monitoring - to create efficiencies for clients. Our fully flexible and customizable offering has been designed to meet existing and future derivatives reporting requirements.

Integrated Reporting Framework Summary

Integrated Reporting enables you to:

Access

an unparalleled network

Increase efficiency

with streamlined processes

Connect

to major trade repositories and key jurisdictions

Reconcile reporting

issues with full audit trail

Reduce risk

of misreporting

Centralize

exception management

Comprehensive coverage to support complex reporting obligations

OTC Derivatives Asset Classes + Exchange Traded Derivatives (ETD)

Jurisdictions in Scope

Trade Repository Integrations

Industry Awards

Integrated Reporting FAQ

What is regulatory reporting?: The mandatory submission of data in prescribed formats by financial institutions due to regulatory requirements including, for example transaction reporting to a trade repository for; ASIC, Canada, CFTC, EMIR, HKMA, MAS and MiFID. This data provides transparency to various regulators which allows them to perform their regulatory mandates which include; market abuse, competition and systemic risk. There are different regulatory reporting requirements, which must be submitted to the relevant regulatory bodies on a daily, monthly, quarterly, semi-annual and annual basis.
What is a trade repository?: A registered entity that collects and maintains records of transactions, such as The Depository Trust & Clearing Corporation (DTCC), Hong Kong Exchanges (HKEX) and CME Group. These electronic platforms act as registries of over-the-counter (OTC) derivatives, exchange traded derivatives, and securities financing transactions.
What is trade and transaction reporting?: Trade reporting focuses on ensuring public transparency and transaction reporting is used to provide more detailed transparency to regulators, which allows regulators to detect and prevent market abuse, and assess systemic risks.
What is the difference between EMIR and MiFID II reporting?: EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk. MiFID II requires trade reporting to the public and transaction reporting to NCAs for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.
What is the difference between CFTC and Canadian reporting?: Both Canadian and the Commodity Futures Trading Commission (CFTC) require single sided transaction reporting with the obligation to report falling on the reporting counterparty which is typically the Derivatives Dealer in Canada and the Swap Dealer under CFTC. Unlike CFTC which has a single regime, Canadian reporting is split across 13 provinces and territories including Ontario Securities Commission, Manitoba Securities Commission and Authorite des marches financiers (Quebec). Different firms fall under the jurisdiction of different regulators based on several factors and often transactions need to be reported to multiple regulators within Canada.
What is reportable under MiFID II?: MiFID II requires trade reporting to the public and transaction reporting to National Competent Authority's (NCAs) for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.
What is EMIR transaction reporting?: EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk.