GTR MAS Code of Practice Setup Model Last Updated: 30 May 2014
Structure Topic Page I. Background and Functionality 3 II. Submission Scenarios.. 4 III. Submission Guideline... 5 IV. Regulator Outputs.. 9 2
Background and Functionality Background Under MAS regulations all OTC trades must be reported to a trade repository. The reporting obligation for 2014 covers Interest Rate and Credit Derivatives asset classes. DTCC provides a number of simple reporting options for compliance with MAS reporting requirements. DTCC offers a centralized and flexible trade reporting solution for participants looking to meet their reporting obligations under MAS. This document is meant to be a guide for asset managers, who have the reporting obligation MAS. GTR Functionality Firms can submit and reconcile their trades directly in DTCC s trade repository. This would be considered a direct submission by the or the Fund Firms can also choose to delegate their reporting to their counterparty or a third party, who in turn, will report to DTCC Regardless of the submission method, the party with the MAS reporting obligation and the party of the reportable trade, would need to be onboarded to DDRS (DTCC Data Repository (Singapore) Pte. Ltd.). Both and the Fund would need to register for a LEI Submissions should be made using standard DTCC trade submission templates This document assumes the MAS reporting obligation falls on the 3
Submission Scenarios s Submission can be done directly to the GTR, or can be delegated. Firms would need to communicate with the appropriate parties if they choose to delegate. Who has the reporting obligation? Who is the Legal Party of the trade? Who will submit the trade? Scenario # AM1 Counterparty AM2 Fund Third Party AM3 Fund AM4 * Each scenario has very specific setup and submission requirements 4
Submission Guideline AM1 Setup and Onboarding Requirements DDRS Invoice LEI Required? Onboard to DDRS? EOM DDRS Invoice would be sent to: Fund, if onboarded directly to DDRS If Fund is onboarded through the (as a multi managed Fund), then Fund * * Either directly or through the (as multi managed) Inbound Submission Data Submitter Submitted For Party 2 Agent Agent Party 2 Party 2 Fund Fund Counterparty MAS Data fields of the inbound submission should contain: Data Submitter LEI of Submitted For LEI of Fund LEI of Fund Party 2 LEI of Counterparty Agent LEI of 5
Submission Guideline AM2 Setup and Onboarding Requirements DDRS Invoice LEI Required? Onboard to DDRS? EOM DDRS Invoice would be sent to: Fund, if onboarded directly to DDRS If Fund is onboarded through the (as a multi managed Fund), then Fund * * Either directly or through the (as multi managed) Inbound Submission Data Submitter Submitted For Party 2 Agent Agent Party 2 Party 2 Counterparty Fund Fund Counterparty MAS Data fields of the inbound submission should contain: Data Submitter LEI of Counterparty Submitted For LEI of Fund LEI of Fund Party 2 LEI of Counterparty Agent LEI of 6
Submission Guideline AM3 Setup and Onboarding Requirements DDRS Invoice LEI Required? Onboard to DDRS? EOM DDRS Invoice would be sent to: Fund, if onboarded directly to DDRS If Fund is onboarded through the (as a multi managed Fund), then Fund * * Either directly or through the (as multi managed) Inbound Submission Data Submitter Submitted For Party 2 Agent Agent Party 2 Party 2 Third Party Fund Fund Counterparty MAS Data fields of the inbound submission should contain: Data Submitter LEI / DTCC Account number of Third Party Submitted For LEI of Fund LEI of Fund Party 2 LEI of Counterparty Agent LEI of 7
Submission Guideline AM4 Setup and Onboarding Requirements DDRS Invoice LEI Required? Onboard to DDRS? EOM DDRS Invoice would be sent to: Fund Fund Inbound Submission Data Submitter Submitted For Party 2 Agent Agent Party 2 Party 2 Fund Fund Fund Counterparty MAS Data fields of the inbound submission should contain: Data Submitter LEI of Fund Submitted For LEI of Fund LEI of Fund Party 2 LEI of Counterparty Agent LEI of 8
Regulator Outputs 1 A LEI should be used to identify the in all the above scenarios 2 If either Agent or Agent Party 2 are populated, the populated values will be reflected on the Regulator Reports. Specifically the following fields must be reported: Agent Prefix, and; Agent Value or; Agent Party 2 Prefix, and; Agent Party 2 Value 3 The in the regular report would refer to the reporting obligation of the position, not the party Eg: If the is indicated as MAS and the is not a MAS reportable entity, then the reporting obligation would be the Agent 9