On Monday, Broadridge Financial Solutions announced its readiness to support new OTC derivatives reporting requirements in Singapore and Australia, which will take effect on October 21, 2024.
Broadridge Expands OTC Derivatives Reporting Capabilities
In addition, the company revealed in a press release that it is proactively expanding its offerings to include other regulatory regimes and asset classes, such as the Canadian rewrite and the Hong Kong rewrite scheduled for later dates.
“We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our clients to help them meet their compliance requirements,” commented Ben Cooling, General Manager, Regulatory Trade and Transaction Reporting at Broadridge.
He added that the upcoming Canadian and Hong Kong rewrites are part of a “global initiative aimed at enhancing the consistency and transparency of derivatives reporting, reflecting similar updates by regulators in the United States, Japan, and Europe.”
After the addition of the European Money Market Statistical Reporting (MMSR), which went live in July 2024, Broadridge stated it is developing the US equivalent of SFTR for Securities Lending.
It added that it will also upgrade its solution to cater to major EU and UK MiFID updates scheduled to come in over 2025 to 2027 as well as the final updates to CFTC Dodd Frank Reporting.
With the upcoming enhancements, Broadridge highlighted its commitment to supporting clients across multiple jurisdictions, including the United States, Europe, Canada, Singapore, Australia, Hong Kong, and more.
