Regulation at a Glance

What is the reporting timeline for HKMA & MAS?

• T+1

• T+2

• T+3

• T day

Answer explanation

Trades and valuations need to be reported within T+2 to HKTR & DTCC, it is considered late reporting if reported on T+3 or beyond

A Rates trader named Mark is based in SG and trades exotics on UK entity, his MO team is also based of London. Mark trades in London hours. Mark's trades are not in scope for MAS TR. Is this statement true?

• True

• False

Answer explanation

Reporting Eligibility for MAS TR:

1. Trader nexus, ie trader is based in SG

and/or

2. booking entity is in SG

When did Phase 1 & Phase 2 of HKMA Reg reporting go live?

• July 2015, July 2018

• July 2014, July 2018

• July 2014, July 2017

• July 2015, July 2017

Answer explanation

MAS Trade Reporting went live for IR, CR, FX in 2014?

• True

• False

Answer explanation

What does DTCC offer?

• It is a financial services company that offer trade reconciliation for the financial markets.

• It is a financial services company that provides clearing and settlement services for the financial markets.

• It is a financial services company that provides Confirmation and settlement services for the financial markets.

• It is an in-house built reporting engine to report trade data to the regulators

Which of the following offers On-Behalf-Of (OBO) reporting?

• MAS

• HKMA

• KFSC

• None of these

Answer explanation

MAS, HKMA, JFSA, Taiwan FSC, Korea FSC do not offer On-Behalf-Off reporting for our clients. only ASIC does for FX & Equities.

Stephanie is a trader based in HK, she booked an FX swaption trade on 25th July 2017, using CB HK as her booking entity. What was done in terms of reporting? Choose the correct answer.

• The trade was reported to MAS within 2 days of execution

• The trade was not reportable as exotics product was out of scope in 2017

• The trade was reported to HKMA within 2 days of execution.

• The trade was reported to HKMA and MAS within 2 days of execution

Answer explanation

HKMA reporting for Exotics products went live on 1st July 2027, Stephanie's trades are in scope for reporting. It does not meet the criteria for MAS Trade Reporting, hence it was not required to be reported to MAS.

Mandatory fields are the ones required for reporting by the regulators. if we are not reporting values then we are not obliged for its accuracy.

• True

• False

Answer explanation

We are obliged to report mandatory fields and ensure its accuracy.

Optional fields are not mandatory, so we are not obliged to report nor for its accuracy, even if it's reported voluntarily. True or false?

• True

• False

Answer explanation

We are not obliged to report for optional fields, however if we choose to report them, we need to ensure they are reported correctly.

What is a Differences break?

• Trade was under reported, the recon results show that it is only found at the JPM side, but missing at DTCC

• Trade was reported, however one/multiple attributes are not matched with C'Party

• Trade was over reported, the recon results show that it is only found at the at DTCC, missing from JPM systems

• Matured trade was reported