DRAFT SECURITIES AND FUTURES (REPORTING …/media/MAS/News and Publications...ANNEX DRAFT SECURITIES AND FUTURES (REPORTING OF DERIVATIVES CONTRACTS) REGULATIONS 2013 DISCLAIMER: This

ANNEX

DRAFT SECURITIES AND FUTURES

(REPORTING OF DERIVATIVES CONTRACTS)

REGULATIONS 2013

DISCLAIMER: This version of the amendments is in draft form and subject to

change. It is also subject to review by the Attorney-General’s Chambers.

2

SECURITIES AND FUTURES ACT

(CHAPTER 289)

SECURITIES AND FUTURES (REPORTING OF DERIVATIVES CONTRACTS)

REGULATIONS 2013

ARRANGEMENT OF REGULATIONS

PART I

PRELIMINARY

Regulation

1 Citation and commencement

2 Definitions

3 Forms

4 Keeping of books and other information

PART II

REPORTING OF SPECIFIED DERIVATIVES CONTRACTS

5 Specified derivatives contract

6 Specified persons

7 Information to be reported

8 Form and manner of reporting

9 Exemptions

PART III

MISCELLANEOUS

10 Offences

The Schedules

3

In exercise of the powers conferred by sections 124,129 (1), 129 (2), 129A and 341 of

the Securities and Futures Act, the Monetary Authority of Singapore hereby makes the

following Regulations:

PART I

PRELIMINARY

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Reporting of

Derivatives Contracts) Regulations 2013 and shall come into operation on

___________ [“commencement date”].

Definitions

2.—(1) In these Regulations, unless the context otherwise requires —

“booked” means the entry of the specified derivatives contract on the balance sheet of

the party;

“business day” has the same meaning as in section 4(1) of the Companies Act (Cap.

50);

“credit derivatives contract” means the derivatives contract related to a credit or

credit-linked instrument or whose cash flows are determined by reference to an

underlying bond, loan or other credit agreement;

“interest rate derivatives contract” means the derivatives contract related to an

interest-bearing financial instrument or whose cash flows are determined by

referencing interest rates or another interest rate contract such as an option on an

interest rate futures contract;

“maturity” in relation to a specified derivatives contract means the period remaining

till the termination of the specified derivatives contract.

“reporting commencement date” means a date that a specified person is required to

commence reporting pursuant to regulation 8, being the date that is specified in the

Fourth Schedule applicable to the relevant specified person concerned.

“reporting threshold amount” means S$8 billion.

“resident in Singapore” has the same meaning as in section 2 of the Income Tax Act.

4

“traded in Singapore” means the execution of the specified derivatives contract by the

trading desk that is physically located in Singapore of the specified person.

(2) Any word or expression used in these Regulations which is defined in section

124 of the Act shall, unless the context otherwise requires, have the same meaning as

in that section.

Forms

3.—(1) The forms to be used for the purposes of Part VIA of the Act and

these Regulations are those set out at the Authority’s Internet website at

http://www.mas.gov.sg (under “Regulations and Financial Stability”, “Regulations,

Guidance and Licensing”, “Securities, Futures and Fund Management”), and any

reference in these Regulations to a numbered form shall be construed as a reference to

the current version of the form bearing the corresponding number which is displayed

at that website.

(2) Any document required to be lodged with the Authority under any provision of

Part VIA of the Act or these Regulations shall be lodged in the relevant form and in

the manner specified in the website referred to in paragraph (1), or in such other

manner as the Authority may specify from time to time.

(3) All forms used for the purposes of Part VIA of the Act and these Regulations

shall be completed in the English language and in accordance with such directions as

may be specified in the form or by the Authority.

(4) The Authority may refuse to accept any form if it is not completed in

accordance with this regulation.

(5) Where strict compliance with any form is not possible, the Authority may allow

for the necessary modifications to be made to that form, or for the requirements of that

form to be complied with in such other manner as the Authority thinks fit.

Keeping of books and other information

4.—(1) Every specified person shall ensure that all relevant books and other

information as may be required by the Authority for the purposes of the Act, including

transaction information, as the case may be, are kept for a minimum of 5 years.

5

(2) For the purpose of paragraph (1), where the information is transaction

information, the period of 5 years shall commence on the date of the expiry or

termination of the contract, agreement or transaction to which the information relates.

PART II

REPORTING OF SPECIFIED DERIVATIVES CONTRACT

Specified Derivatives Contract

5.—(1) For the purposes of the definition of “specified derivatives contract” in section

124 of the Act, the following derivative contracts are prescribed as specified

derivatives contracts-

(a) a derivatives contract or class of derivatives contract listed in the First

Schedule and is traded in Singapore by a specified person; or

(b) a derivatives contract or class of derivatives contract listed in the First

Schedule and is booked in Singapore by a specified person.

Non-financial Specified Person

6.—(1) For the purposes of paragraph (h) of the definition of “specified person” in

section 124 of the Act, a non-financial specified person is prescribed as a specified

person.

(2) In this regulation-

(a) “non-financial specified person” means a person -

(i) other than one who is listed in paragraphs (a) to (g) of the

definition of “specified person” in section 124 of the Act;

(ii) who is resident in Singapore; and

(iii) whose aggregate gross notional amount of specified derivatives

contracts booked in Singapore, or traded in Singapore has exceeded the

reporting threshold amount;

(b) the aggregate gross notional amount is calculated using quarter-end

figure on a four-quarter basis,

(c) four-quarter basis is to be calculated using quarter-end figures from the

current quarter and the previous 3 quarters immediately preceding the

current quarter.

6

(3) A person who qualifies as a non-financial specified person shall continue to be

non-financial specified person until he ceases to be a non-financial specified person in

accordance with paragraph 4.

(4) A person shall cease to be a non-financial specified person only upon the

occurrence of both of the following circumstances-

(a) his aggregate gross notional amount of specified derivatives contracts

traded in Singapore falls below the reporting threshold amount for 4

consecutive quarters; and

(b) his aggregate gross notional amount of specified derivatives contracts

booked in Singapore falls below the reporting threshold amount for 4

consecutive quarters.

(5) A non-financial specified person shall lodge with the Authority-

(a) a notification in Form 1A not later than 1 month from the end of the

quarter where his aggregate gross notional amount exceeds the reporting

threshold amount for the first time;

(b) a notification in Form 1B no later than 1 month from the date he ceases

to be a non-financial specified person.

(6) A non-financial specified person shall continue to report to a licensed trade

repository or licensed foreign trade repository any amendment, modification, variation

or change to the information of specified derivatives contracts which he had

previously reported, even after he has ceased to be a non-financial specified person.

Information to be Reported

7.— (1) For the purposes of section 125 of the Act, a specified person shall report to a

licensed trade repository or licensed foreign trade repository the information on the

specified derivatives contract specified in the Second Schedule or the Third Schedule,

as applicable to the specified person in accordance with regulation 8, including any

amendment, modification, variation or change to the information.

Form and Manner of Reporting

8. – (1) A person who is a specified person, other than a non-financial specified

person, as at the reporting commencement date shall -

(a) in the case of a specified derivatives contract that was executed before the date

the specified derivatives contract is listed in the First Schedule but has not less

than 1 year to maturity as at the date of listing, report to a licensed trade

7

repository or a licensed foreign trade repository, the information referred to in

the Second Schedule in respect of the execution, modification or termination of

the specified derivatives contract that has occurred at any time prior to the

expiry of 6 months from the reporting commencement date, within 6 months

from the reporting commencement date;

(b) in the case of a specified derivatives contract that is executed on or after the

reporting commencement date applicable to the specified person concerned,

report to a licensed trade repository or a licensed foreign trade repository, the

information referred to in the Second Schedule, by the close of the next

business day immediately after the execution, modification or termination of

the specified derivatives contract;

(c) in the case of a specified derivatives contract that is executed after the date the

specified derivatives contract is listed in the First Schedule but prior to the

reporting commencement date applicable to the specified person concerned,


information referred to in the Second Schedule in respect of the execution,

modification or termination of the specified derivatives contract that has

occurred at any time after the date the specified derivatives contract is listed in

the First Schedule but prior to the expiry of 6 months from the reporting

commencement date applicable to the specified person, within 6 months from

the reporting commencement date;

(d) in the case of any modification to the specified derivatives contract which the

specified person has reported to a licensed trade repository or licensed foreign

trade repository pursuant to sub-paragraph (a), (b) and (c), report to a licensed

trade repository or licensed foreign trade repository as the case may be, such

modification by the close of the next business day immediately after the

modification of the specified derivatives contract.

(2) A specified person who is a non-financial specified person as at the reporting

commencement date shall -





the Third Schedule in respect of the execution, modification or termination of


expiry of 6 months from the reporting commencement date applicable to the

8

specified person, within 6 months from the reporting commencement date

applicable to the specified person;


reporting commencement date applicable to the non-financial specified person,


information referred to in the Second Schedule, by the close of the next

business day immediately after the execution, modification or termination of

the specified derivatives contract;



reporting commencement date applicable to the non-financial specified person,


information referred to in the Third Schedule in respect of the execution,

modification or termination of the specified derivatives contract that has

occurred at any time after the date the specified derivatives contract is listed in

the First Schedule but prior to the expiry of 6 months from the reporting

commencement date, within 6 months from the reporting commencement date;


non-financial specified person has reported to a licensed trade repository or

licensed foreign trade repository pursuant to sub-paragraph (a), (b) or (c),

report to a licensed trade repository or licensed foreign trade repository as the

case may be, such modification by the close of the next business day

immediately after the modification of the specified derivatives contract.

(3) A person who is a specified person, other than a non-financial specified

person, at any time after the reporting commencement date shall -







expiry of 6 months from the date the person qualified as a specified person,

within 6 months from the date the person qualified as a specified person;


date the person qualified as a specified person, report to a licensed trade


9

the Second Schedule, by the close of the next business day immediately after

the execution, modification or termination of the specified derivatives contract;


specified derivatives contract is listed in the First Schedule but prior to the date

the person qualified as a specified person, report to a licensed trade repository

or a licensed foreign trade repository, the information referred to in the Second

Schedule in respect of the execution, modification or termination of the

specified derivatives contract that has occurred at any time after the date the


the person qualified as a specified person, within 6 months from the date the

person qualified as a specified person;

(d) in the case of any modification to the specified derivatives contracted which the

specified person has reported to a licensed trade repository or licensed foreign

trade repository pursuant to sub-paragraph (a), (b) or (c), report to a licensed

trade repository or licensed foreign trade repository as the case may be, such



(4) A person who is a non-financial specified person as at any time after the

reporting commencement date shall -


the date the specified derivatives contract is listed in the First Schedule but has

not less than 1 year to maturity as at the date of listing, report to a licensed

trade repository or a licensed foreign trade repository, the information referred

to in the Third Schedule in respect of the execution, modification or

termination of the specified derivatives contract that has occurred at any time

prior to the expiry of 6 months from the date the person qualified as a non-

financial specified person, within 6 months from the date the person qualified

as a non-financial specified person;


date the person qualified as a non-financial specified person, report to a

licensed trade repository or a licensed foreign trade repository, the information

referred to in the Second Schedule, by the close of the next business day

immediately after the execution, modification or termination of the specified

derivatives contract;



the person qualified as a non-financial specified person, report to a licensed

10

trade repository or a licensed foreign trade repository, the information referred

to in the Third Schedule in respect of the execution, modification or

termination of the specified derivatives contract that has occurred at any time

after the date the specified derivatives contract is listed in the First Schedule

but prior to the expiry of 6 months from the date the person qualified as a non-

financial specified person, within 6 months from the date a person qualified as

a non-financial specified person;


person has reported to a licensed trade repository or licensed foreign trade

repository pursuant to sub-paragraph (a), (b) or (c), report to a licensed trade

repository or licensed foreign trade repository as the case may be, such



(5) A non-financial specified person who qualifies as a person referred to in any of

the paragraphs (a) to (g) of the definition of “specified person” in section 124 of the

Act as at any time after the reporting commencement date shall -







expiry of 6 months from the date the person qualified as a specified person

other than a non-financial specified person, within 6 months from the date the

person qualified as a specified person other than a non-financial specified

person;


date the non-financial specified person qualified as a person referred to in any

of the paragraphs (a) to (g) of the definition of “specified person” in section

124 of the Act, report to a licensed trade repository or a licensed foreign trade

repository, the information referred to in the Second Schedule, by the close of

the next business day immediately after the execution, modification or

termination of the specified derivatives contract;



the non-financial specified person qualified as a specified person other than a

non-financial specified person, report to a licensed trade repository or a

11

licensed foreign trade repository, the information referred to in the Second

Schedule in respect of the execution, modification or termination of the

specified derivatives contract that has occurred at any time after the date the


expiry of 6 months from the date a non-financial specified person qualified as a

specified person other than a non-financial specified person, within 6 months

from the date the person qualified as a specified person other than a non-

financial specified person;

(d) in the case of any modification to the specified derivatives contracted which the

non-financial specified person has reported to a licensed trade repository or

licensed foreign trade repository pursuant to sub-paragraph (a), (b) or (c),

report to a licensed trade repository or licensed foreign trade repository as the

case may be, such modification by the close of the next business day

immediately after the modification of the specified derivatives contract.

(6) In this regulation, “business day” means-

(a) in the case of the specified person reporting to a licensed trade repository or a

licensed foreign trade repository personally, any day other than Saturday, Sunday or

public holiday in relation to the place of business of that specified person; and

(b) in the case of the specified person reporting to a licensed trade repository or a

licensed foreign trade repository through an agent, any day other than a Saturday,

Sunday or public holiday in relation to the place of business of the agent.

Exemptions

9.—(1) For the purposes of section 129A of the Act, the following persons shall be

exempted from section 125 of the Act in respect of the specified derivatives contract

which the person is a party thereto -

(a) any person specified in the Fifth Schedule; and

(b) any person who is a party to a specified derivatives contract to which a person

specified in the Fifth Schedule is a counterparty.

PART III

MISCELLANEOUS

Offences

10.—(1) Unless otherwise provided in these Regulations, any person which

12

contravenes regulation 4, 6(5) and 6(6) shall be guilty of an offence and shall be liable

on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence,

to a further fine not exceeding $5,000 for every day or part thereof during which the

offence continues after conviction.

(2) Section 333(1) of the Act shall not apply to any offence referred to in paragraph 1.

13

FIRST SCHEDULE

Regulation 5(1)

SPECIFIED DERIVATIVES CONTRACTS

S/No Asset Class Date of listing in

the First Schedule

(“Date of Listing”)

(a) Interest rate derivatives contracts executed on or

after the Date of Listing

1 October 2013

(b) Interest rate derivatives contracts executed before

the Date of Listing but has not less than 1 year to

maturity at the Date of Listing

1 October 2013

(c) Credit derivatives contracts executed on or after

the Date of Listing

1 October 2013

(d) Credit derivatives contracts executed before the

Date of Listing but has not less than 1 year to

maturity at the Date of Listing

1 October 2013

14

SECOND SCHEDULE

Regulation 7, 8(1), 8(2)(b), 8(3)(a), (b), (c), 8(4)(b), 8(5)(a), (b), (c)

DERIVATIVES INFORMATION TO BE REPORTED

Data Field Description

Contract

information

Unique transaction

identifier (UTI)

An identifier to denote the transaction

For cleared contract, the CCP should

supply the UTI

For uncleared contract that are

electronically confirmed, the electronic

confirmation platform should supply the

UTI

For other uncleared contract, the

counterparties should agree on an UTI to

be reported

Field value: Alphanumeric string

Unique product

identifier (UPI) An identifier to denote the product type

(e.g. ISDA product taxonomy)


Contract type Field value: “Swap”, “Option”,

“Forward”, “Others”

If the contract type is captured under UPI,

this field may be left blank

Compression

indicator

To indicate whether this contract results

from compression

Field value: “Yes” or “No”

Previous UTI To denote the previous UTI relating to

this contract


Counterparty

information

Identifier of

specified person

An identifier of the specified person

reporting

To use LEI or pre-LEI if LEI is not

available


Legal name of

specified person

To denote the legal name of the specified

person

Field value: free text

Identifier of

counterparty

An identifier of the counterparty

To use LEI or pre-LEI if LEI is not yet

available

Where counterparty does not have an LEI

or pre-LEI, to use SWIFT BIC code or, if

15


not available, a business registration code

issued in the jurisdiction of incorporation

(e.g. Accounting and Corporate

Regulatory Authority (ACRA)

registration number)

In the case of individuals, to use a client

code


Legal name of

counterparty

The legal name of counterparty

Field values: free text

Identifier of

reporting entity

To denote the identity of the reporting

entity in the case of single-sided or third-

party reporting


available

Legal name of

reporting entity

The legal name of reporting entity


Trading capacity of

specified person

To denote trading capacity of specified

person

Field value: “Principal” or “Agent”

Identifier of

beneficiary

To denote the identity of the beneficiary

of the contract

Where the contract is executed via a

structure representing a number of

beneficiaries such as a trust or fund, the

beneficiary should be identified as that

structure (i.e. as the trust or fund)

Where the beneficiary is a legal entity, to

use LEI or pre-LEI if LEI is not yet

available

If the beneficiary is a collective

investment scheme (CIS) or real estate

investment trust (REIT), the beneficiary

should be identified by OPERA II

scheme number

In case of a beneficiary that is an

individual, a client code as assigned by

the specified person should be reported


Legal name of The legal name of the beneficiary to the

contract

16


beneficiary Field value: free text

Identifier for

broker of specified

person

To denote the identity of the broker for

the specified person


available


Legal name of the

broker of specified

person

The legal name of the broker for the

specified person

Field value: Free text

Location of trader

desk

To denote the country where the trader

desk which executed the contract is

located

Field value: ISO country code

Clearing

Whether the

contract has been

cleared

To denote if the contract has been cleared


Identifier of

clearing entity

To denote the identity of the clearing

entity


available


Legal Name of

Clearing entity

The legal name of clearing entity


Clearing exemption

for specified person

To indicate whether the contract is

exempted from clearing


Confirmation

Date of

confirmation

The date when the contract is confirmed

Field value: UTC Time

Whether the

contract is

electronically

confirmed

To indicate whether the contract is

electronically confirmed

Field value: “Electronic”, “Non-

electronic” or “Non-confirmed”

Identifier of

electronic

confirmation

platform

To denote the identity of the electronic

confirmation platform, where the contract

is electronically confirmed


available

17


(where applicable) Field value: Alphanumeric string

Legal name of

electronic

confirmation

platform

(where applicable)

The legal name of the electronic

confirmation platform, where the contract

is electronically confirmed


Trade execution

Identifier of

execution venue

(where applicable)

Identifier of execution venue

For trades which were executed via voice,

please leave this field blank


available


Legal name of

execution venue

(where applicable)

The legal name of execution venue

For trades which were executed via voice,

please leave this field blank


Whether the

contract is verified

To denote if the contract is verified

Field value: “Electronic”, “Voice” or

“Not Verified”

Transactional

data

Master agreement

type

Type of master agreement that was

executed in relation to this contract

For example, ISDA Master Agreement,

Master Power Purchase and Sale

Agreement, European Master Agreement,

etc

Master agreement

date

The date of the version of the master

agreement that was executed in relation

to this contract

Field value: UTC time

Effective date or

start date of

contract

The date under which the obligations

under the contract comes into effect


Maturity,

termination or end

date of contract

The date of expiry of the contract


Settlement method The agreed-upon method of settlement

Field value: “Cash”, “Physical” or

“Optional for counterparty”

18


Delivery type Whether the contract is deliverable or

non-deliverable

This field can be left blank if the delivery

type is captured under the UPI

Field value: “Deliverable” or “Non-

deliverable”

Mark to market

/model value of

contract

To denote the mark-to-market/model

value of the contract

Field value: Any valid number

Currency of mark

to market/model

value

Currency in which the mark-to-

market/model value of the contract is

expressed in

Field value: ISO currency code

Valuation type To denote if the contract is mark to

market or mark to model

Field value: “Mark to market” or “Mark

to model”

Date and time of

valuation

Date and time of the last mark to

market/model valuation


Price/spread Transacted price/spread


Timestamp

Execution

timestamp

The date and time when the contract was

executed on a trading venue, where

contract was executed on a trading venue


Clearing timestamp The date and time when clearing took

place, where the contract is cleared


Reporting

timestamp


reported to a LTR or LFTR


Collateralisation

Level of

collateralisation

To indicate the level of collateralisation

of the contract

Field value: “Uncollateralised”, “Partially

collateralised”, “One way collateralised”,

“Fully collateralised”

Collateral portfolio To indicate whether the collateralisation

was performed on a portfolio basis.

Portfolio basis means the collateral is

calculated on the basis of net positions

resulting from a set of contracts, rather

19


than per trade


Collateral portfolio

code for specified

person

If collateral is reported on a portfolio

basis, the portfolio should be identified

by a unique code determined by the

specified person


Value of collateral


The value of the collateral posted by the

specified person to his counterparty.

Where collateral is posted on a portfolio

basis, this field must include the value of

all collateral posted for the portfolio.


Currency of

collateral value for

specified person

The currency in which the collateral

value is denominated in


Option (where

applicable)

Option type To denote the type of option

Field value: “Call”, “Put”, “Others”

Call, put or

cancellation date

The date when the option is exercised or

cancelled


Option expiration

date

The expiry date of the option


Option premium The amount of option premium paid by

the buyer to the seller for the reported

contract


Option premium

currency

The currency in which the option

premium is expressed in


Option style To indicate whether the option can be

exercised on a fixed date or any time

during the life of the contract

Field value: “American”, “European”,

“Bermudan”, “Asian”

Strike price

(cap/floor rate)

The strike price of the option


Barrier

(where applicable)

The rate at which the option within the

contract comes into or ceases to exist,

20


whether over the life of the contract or

during discrete periods

This field is relevant for foreign exchange

derivatives only


Currency of barrier The currency in which the barrier amount

is expressed in


Lockout period The date of first allowable exercise


For Specific Asset Classes

Data fields specific to each asset class

Credit/

Equity

Data Fields Description

Counterparty

information

Identifier of

counterparty purchasing

protection (where

applicable)


purchasing protection


yet available

Where counterparty does not have an

LEI or pre-LEI, to use SWIFT BIC

code or, if not available, a business

registration code issued in the

jurisdiction of incorporation (e.g.

ACRA registration number)

In the case of individuals, to use a

client code


Legal name of


protection (where

applicable)




Identifier of

counterparty selling

protection (where


selling protection


21

applicable) yet available








client code


Legal name of


protection (where

applicable)


selling protection


Information identifying

the reference entity An identifier of the entity that is the

subject of the protection being

purchased and sold,


yet available








Transactional

data

Notional amount The notional amount of the contract


Notional currency The currency in which the notional

amount is expressed in


Amount of upfront

payment, if any The amount of any upfront payment

the specified person made or received


Currency/currencies in

which upfront payment

is expressed in

The currency in which the upfront

payment is expressed in


Payment frequency of

the counterparty 1 The dates the contract requires

payments to be made



the counterparty 2 The dates the contract requires

payments to be made


22

FX


Transactional

data

Notional amount 1 The notional amount of the first

underlying currency


Currency 1 The notional currency payable by

specified person


Notional amount 2

The notional amount of the second

underlying currency


Currency 2 The notional currency payable by the

counterparty


Exchange rate The exchange rate of the currencies

of the contract


Interest rate Data Fields Description

Transactional

data

Notional amount for leg

1 The notional amount of leg 1 of the

contract


Notional currency for

leg 1 Currency in which notional amount

of leg 1 of the contract is expressed

in




contract



leg 2 Currency in which notional amount

of leg 2 of the contract is expressed

in


Amount and currency of

upfront payment, if any The amount and currency of any

upfront payment the specified person

made or received


Payer of Leg 1 LEI of counterparty paying leg 1

Field value:

Payer of Leg 2 LEI of counterparty paying leg 2

23

Field value:

Rate of Leg 1

(where applicable) The rate used in leg 1, where

applicable

Rate of Leg 2

(where applicable) The rate used in leg 2, where

applicable


Leg 1

(where applicable)

The frequency of payment for leg 1


leg 2

(where applicable)

The frequency of payment for leg 2

Day count of leg 1

(where applicable) The actual number of days in the

calculation period for leg 1

Field value: “actual 365”, “30B/360”

or “Other”

Day count of leg 2




or “Other”

Reset frequency of leg 1

(where applicable) The frequency with which leg 1

resets


(where applicable) The frequency with which leg 2

resets

Commodity Data Fields Description

Transactional

data






Grade The grade of product being delivered

Amount of upfront

payment

(where applicable)

The amount of any upfront payment



Currency/currencies of

upfront payment Currency/currencies in which the

upfront payment, if any, is expressed

in



leg 1 The frequency of payments for leg 1

(e.g. 3 month, 1 year, etc)

Frequency multiplier of The number of periods of payments

24

leg 1 of leg 1




Frequency multiplier of

leg 2 The number of periods of payments

of leg 2

Quantity unit A unit to measure the quantity of the

commodity quoted on the contract

(e.g. barrels, bushels)

Quantity Amount of the commodity (in

quantity units) quoted on the contract

Quantity frequency The rate at which the quantity is

quoted on the contract (e.g. hourly,

daily, weekly, monthly, etc)

Total quantity The quantity of the commodity for

the entire term of the contract

Commodity base To denote the type of commodity

underlying the contract

25

THIRD SCHEDULE

Regulation 7, 8(2)(a), 8(2)(c), 8(4)(a), 8(4)(c)

DERIVATIVES TRANSACTION INFORMATION TO BE REPORTED


Contract

information

Contract type Field value: “Swap”, “Option”,

“Forward”, “Others”

If the contract type is captured under UPI,

the field can be left blank.

Counterparty

information

Identifier of

specified person

An identifier of the specified person


available


Legal name of

specified person

The legal name of the specified person


Identifier of

counterparty



available

Where counterparty does not have an LEI

or pre-LEI, to use SWIFT BIC code or, if

not available, a business registration code

issued in the jurisdiction of incorporation

(e.g. ACRA registration number)

In the case of individuals, to use a client

code.


Legal name of

counterparty



Identifier of

reporting entity

To denote the identity of the reporting

entity in the case of single-sided or third-

party reporting


available

Where reporting entity does not have an

LEI or pre-LEI, to use SWIFT BIC code

or, if not available, a business registration

code that is valid in the jurisdiction of

incorporation (i.e. an equivalent of

ACRA registration number in Singapore)

Legal name of The legal name of reporting entity

26


reporting entity Field values: free text

Location of trader

desk of specified

person

To denote the country where the trader

desk which executed the contract is

located

Field value: ISO country code

Clearing Whether the

contract has been

cleared

To denote if the contract has been cleared


Identifier of

clearing entity

To denote the identity of the clearing

entity


available


Legal Name of

Clearing entity

The legal name of clearing entity


Trade execution Identifier of

execution venue

(where applicable)

Identifier of execution venue where the

contract is executed on a trading venue


available


Legal name of

execution venue

(where applicable)

Legal name of execution venue


Whether the

contract is verified

To denote if the contract is verified

Field value: “Electronic”, “Voice” or

“Not Verified”

Transactional

data

Effective date or

start date of

contract

The date under which the obligations

under the contract comes into effect


Maturity,

termination or end

date of contract

The date of expiry of the contract


Settlement method The agreed-upon method of settlement

Field value: “Cash”, “Physical” or

“Optional for counterparty”

27


Delivery type Whether the contract is deliverable or

non-deliverable

This field can be left blank if the delivery

type is captured under the UPI

Field value: “Deliverable” or “Non-

deliverable”

Mark to market

/model value of

contract

To denote the mark-to-market/model

value of the contract


Currency of mark

to market/model

value

Currency in which the mark-to-market

value of the contract is expressed in


Valuation type To denote if the contract is mark to

market or mark to model

Field value: “Mark to market” or “Mark

to model”

Date and time of

valuation

Date and time of the last mark to

market/model valuation


Price/spread Transacted price/spread


Timestamp Execution

timestamp


executed on a trading venue, where

contract was executed on a trading venue


Clearing timestamp The date and time when clearing took

place, where the contract is cleared


Reporting

timestamp


reported to a local trade repository (LTR)

or a local trade foreign repository (LFTR)


Collateralisation Level of

collateralisation

To indicate the level of collateralisation

of the contract

Field value: “Uncollateralised”, “Partially

collateralised”, “One way collateralised”,

“Fully collateralised”

Collateral portfolio To indicate whether the collateralisation

was performed on a portfolio basis.

Portfolio basis means the collateral is

calculated on the basis of net positions

28


resulting from a set of contracts, rather

than per trade


Collateral portfolio

code for specified

person

If collateral is reported on a portfolio

basis, the portfolio should be identified

by a unique code determined by the

specified person

Field value: alphanumeric

Value of collateral


The value of the collateral posted by the

specified person to his counterparty.

Where collateral is posted on a portfolio

basis, this field must include the value of

all collateral posted for the portfolio.


Currency of

collateral value for

specified person

The currency in which the collateral

value is expressed in


Option Option type To denote the type of option

Field value: “Call”, “Put”, “Others”

Call, put or

cancellation date

The date when the option is exercised or

cancelled


Option expiration

date

The expiry date of the option


Option premium The amount of option premium paid by

the buyer to the seller for the reported

contract


Option premium

currency

The currency in which the option

premium is expressed in


Option style To indicate whether the option can be

exercised on a fixed date or any time

during the life of the contract

Field value: “American”, “European”,

“Bermudan”, “Asian”

Strike price

(cap/floor rate)

The strike price of the option


Barrier The rate at which the option within the

contract comes into or ceases to exist,

29


(where applicable) whether over the life of the contract or

during discrete periods

This field is relevant for foreign exchange

derivatives only


Currency of barrier The currency in which the barrier amount

is expressed in


Lockout period The date of first allowable exercise


Option type To denote the type of option

Field value: “Call”, “Put” or “Others”

For Specific Asset Classes

Data fields specific to each asset class

Credit/

Equity


Counterparty

information

Identifier of


protection




yet available








client code


Legal name of


protection




Identifier of

counterparty selling An identifier of the counterparty

selling protection

30

protection To use LEI or pre-LEI if LEI is not

yet available








client code


Legal name of


protection


selling protection


Information identifying

the reference entity An identifier of the entity that is the

subject of the protection being

purchased and sold,


yet available








Transactional

data






Amount of upfront

payment

(where applicable)






is expressed in

Currency/currencies in which the


in



the counterparty 1 The frequency of payments for

counterparty 1


the counterparty 2 The frequency of payments for

counterparty 2

FX


31

Transactional

data

Notional amount 1 The notional amount of the first

underlying currency


Currency 1 The notional currency payable by

specified person


Notional amount 2

The notional amount of the second

underlying currency


Currency 2 The notional currency payable by the

counterparty


Exchange rate The exchange rate of the currencies

of the contract


Interest rate


Transactional

data



contract



leg 1 The currency in which notional

amount of leg 1 of the contract is

expressed in




contract



leg 2 The currency in which notional

amount of leg 2 of the contract is

expressed in


Amount and currency of

upfront payment

(where applicable)

The amount and currency of any

upfront payment the specified person

made or received


Payer of leg 1 LEI of counterparty paying leg 1


Payer of leg 2 LEI of counterparty paying leg 2


Rate of leg 1 The rate used in leg 1

32

(where applicable)

Rate of leg 2

(where applicable) The rate used in leg 2


leg 1 The frequency of payment for leg 1


leg 2 The frequency of payment for leg 2

Day count of leg 1,




or “Other”

Day count of leg 2,




(where applicable) Frequency with which leg 1 reset


(where applicable) Frequency with which leg 2 reset

Commodity Data Fields Description

Transactional

data



Notional currency Currency in which notional amount

of the contract is expressed in


Grade The grade of product being delivered

Field value:

Amount of upfront

payment

(where applicable)


the Reporting Counterparty made or

received.



is expressed in

The currency/ currencies in which the


in












Quantity unit A unit to measure the quantity of the

33

commodity quoted on the contract

(e.g. barrels, bushels)

Quantity Amount of the commodity (in

quantity units) quoted on the contract

Quantity frequency The rate at which the quantity is

quoted on the contract (e.g. hourly,

daily, weekly, monthly, etc)

Total quantity The quantity of the commodity for

the entire term of the contract

Commodity base To denote the type of commodity

underlying the contract

FOURTH SCHEDULE

Regulation 8(2)

34

Date a specified person shall commence reporting to a licensed trade repository

or foreign licensed trade repository

Asset Class Paragraphs (a) to (c)

of the definition of

specified person

Paragraphs (d) to (g)

of the definition of

specified person

Non-financial

specified person

Interest Rate

derivatives

contracts/ Credit

derivatives

contracts

31 October 2013 31 January 2014 31 April 2014

FIFTH SCHEDULE

Regulation 10(1)

35

EXEMPTED PERSONS

1. Central banks

2. The Government

3. A statutory board established under any written law

4. Any central government or agency of central government that is not

incorporated for commercial purposes in a country other than Singapore

5. Multi-lateral agencies as follows:-

(a) The African Development Bank

(b) The Asian Development Bank

(c) The Bank for International Settlements

(d) The European Bank for Reconstruction and Development

(e) The European Economic Community

(f) The European Investment Bank

(g) The Inter-American Development Bank

(h) The International Bank for Reconstruction and Development (The World

Bank)

(i) The International Finance Corporation

(j) The International Monetary Fund

Made this day of 2013.

Documents

DRAFT SECURITIES AND FUTURES (REPORTING …/media/MAS/News and Publications...ANNEX DRAFT SECURITIES AND FUTURES (REPORTING OF DERIVATIVES CONTRACTS) REGULATIONS 2013 DISCLAIMER: This