Dual reporting requirements in Asia cause concern
While Singapore will mandate single-sided trade reporting, regulators in Australia and Hong Kong will follow the European Union’s requirement for dual reporting, leading to concerns among market participants
The concept of dual reporting – where both counterparties to a trade are responsible for reporting it to a trade repository under new regulations – has been causing a headache for market participants in Europe and is likely to be equally challenging in parts of Asia, where dual reporting is also expected to be required.
Trade reporting came into effect in the US earlier this year, but the Dodd-Frank Act, unlike the European Market Infrastructure Regulation (Emir), requires only a single
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