The Ontario Securities Commission today published answers to frequently asked questions concerning compliance with Ontario derivatives trade reporting requirements.
Topics discussed include, among other things, the types of transactions and data that need to be reported, the treatment of hybrid instruments under the product determination rule, the time of data reporting, the treatment of dealers not registered in Ontario, deemed compliance, and the use of legal entity identifiers.
As we've previously discussed, clearing agencies and dealers must begin trade reporting on October 31, 2014, while all other OTC derivatives market participants are required to report beginning on June 30, 2015. The requirement for trade repositories to make transaction-level reports publicly is effective April 30, 2015.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.