Multiple trade repositories cause reporting headache in Asia

Giving regulators access to an accurate picture of the derivatives activity taking place in their markets is a key aim of the move to central clearing – but there are several unresolved issues in setting up the trade reporting architecture across Asia, not least the proliferation of trade repositories across the region, as Jeffrey Kan of Isda explores

In April, the Financial Stability Board (FSB) published its fifth progress report on the implementation of over-the-counter derivatives reforms, and FSB members are requested to confirm that their respective legislations and regulations for trade reporting are in place. In the US, swap dealers and major swap participants commenced trade reporting at the start of 2013. In Europe, the industry is preparing for trade reporting to the European Securities and Markets Authority (Esma), according to