The ob体育 Derivative Transaction Rules (Reporting) 2024 (the 2024 Rules) set out the requirements for reporting entities to report derivative transaction information to derivative trade repositories.
We recognise that the 2024 Rules are a significant overhaul compared to the prior ob体育 reporting rules requirements, including that ISO 20022 is specified as the technical standard for reporting. Since making the 2024 Rules in December 2022 there have been ongoing international developments and dependencies for consideration ahead of settling ob体育 guidance, published in September 2024. Also, we are aware that other jurisdictions will be going live with revised reporting requirements on or around the same time as ob体育. Therefore, we will take a measured approach to compliance until 1 March 2025 for reporting entities that make reasonable efforts to comply with the 2024 Rules.
If ob体育 identifies deliberate or systemic breaches, or a failure to make all reasonable endeavours to come into compliance, we will take regulatory action.
Consultations
Report 792 Response to submissions on CP 375 Proposed changes to the ob体育 Derivative Transaction Rules (Reporting): Third consultation (REP 792)
Consultation Paper 375 Proposed changes to the ob体育 Derivative Transaction Rules (Reporting): Third consultation (CP 375)
Consultation Paper 361a ob体育 Derivative Transaction Rules (Reporting) 2024: Follow-on consultation on changes to data elements and other minor amendments (CP 361a)
Consultation Paper 361听Proposed changes to simplify the ob体育 Derivative Transaction Rules (Reporting): Second consultation听(CP 361)
Consultation Paper 334听Proposed changes to simplify the ob体育 Derivative Transaction Rules (Reporting): First consultation听(CP 334)
Report 755听Proposed changes to simplify the ob体育 Derivative Transaction Rules (Reporting): Second consultation听(REP 755)
Exemption relief from the 2024 rules
Legislative instruments
Date
Legislative instrument
Details
9 September 2024
exemptive relief allowing foreign reporting entities to apply an alternative test for reportable transactions and reportable positions 'entered into by the reporting entity in this jurisdiction'
Individual exemptions
Date
Legislative instrument
Details
27 November 2024
Exempts J.P. Morgan SE from being required to report certain entity identifying information under the ob体育 Derivative Transaction Rules (Reporting) 2024, subject to the conditions of the instrument
27 November 2024
Exempts JPMorgan Chase Bank, N.A. from being required to report certain entity identifying information under the ob体育 Derivative Transaction Rules (Reporting) 2024, subject to the conditions of the instrument
For past rules, see:
2022 Rules -听From 21 December 2022 until 20 October 2024
2013 Rules -听From 10 July 2013 until 20 December 2022
ISO 20022 Universal financial industry message scheme
The 2024 Rules require reporting to a trade repository using the XML tags of an ISO 20022 message definition whose message elements include the Derivative Transaction Information set out in Part S1.3 鈥� see Rule 2.2.4.
ISO 20022 message definitions and external code sets
The relevant current ISO 20022 message definitions and external code sets in the are as follows:
