Thematic Review of OTC Derivatives Trade Reporting
This peer review provides an update on the implementation of G20 requirements for trade reporting in over-the-counter (OTC) derivative markets. It shows the majority of FSB member jurisdictions have trade reporting requirements in place and calls on jurisdictions that have not fully implemented reporting requirements to do so promptly. Legal and regulatory barriers to complete reporting continue to be a concern. FSB members have agreed that jurisdictions should address legal barriers to reporting by June 2018, that masking of counterparty-identifying data be discontinued by end-2018, and that by June 2018 at the latest all jurisdictions should have legal frameworks in place to permit access to data held in a domestic trade repository by relevant authorities (whether domestic or foreign). There remain a number of challenges in the quality and usability of trade repository held data. Notwithstanding these challenges, some authorities are starting to make good use of data for some regulatory purposes.