Commenting on the Monetary Authority of Singapore’s (MAS) decision to delay the final phase of OTC derivatives trade reporting implementation by one year to 1 October, 2021, Oliver Williams, Head of DTCC Data Repository (Singapore) Pte Ltd., said:
DTCC has been encouraged by the progress that the industry has made in meeting reporting obligations for over-the-counter (OTC) derivatives transactions. In today’s environment, we support MAS’ move to provide more time to non-bank financial institutions and significant derivatives holders that were to come into scope under the final phase implementation. We remain committed to assisting clients in preparing for the new deadline of 1 October 2021. Our Global Trade Repository (GTR) service is ready to help market participants address their operational and regulatory requirements as and when the final regulations go live.
