Key Takeaways
- Regulatory focus has shifted to data quality, with greater scrutiny on accuracy, consistency and counterparty alignment.
- Reporting complexity varies by firm and region, driven by delegation models, evolving rules and resource constraints, particularly in APAC.
- Benchmarking and analytics are now essential, helping firms assess reporting performance and meet increasingly data driven regulatory expectations.
As regulatory refinements continue to shape transaction reporting for over the counter (OTC) derivatives, with greater emphasis on data quality, consistency and transparency, reporting firms are navigating an increasingly complex and demanding environment.
In a recent DTCC Insights podcast, Rebecca Ashton, DTCC Managing Director and Head of DTCC Consulting, and Ollie Williams, DTCC Executive Director, Derivatives Business Management – APAC, discussed how regulatory changes, rising data quality expectations and resource pressures are reshaping trade reporting strategies across the industry.
Data quality has taken centre stage
Following implementation of the global rules rewrites, regulatory focus has shifted from timeliness to the quality and consistency of reported data. Firms are now expected to demonstrate that submissions align with counterparties and meet prescribed standards. This has driven greater emphasis on validation, reconciliation and control frameworks, particularly for firms with multi-reporting obligations.
Challenges vary across firms and regions
Reporting pressures differ depending on firm type and geography. Buy side firms often face visibility challenges, particularly when reporting is delegated to third parties. Firms reporting directly must be able to identify and resolve data issues quickly. In regions such as Asia Pacific, evolving regulatory frameworks and limited specialist expertise continue to present challenges.
Benchmarking and analytics are becoming essential
Analytics tools with benchmarking capabilities are increasingly seen as practical ways to assess reporting quality and performance. Comparative insights help firms identify gaps, prioritise remediation and understand how their reporting compares with industry peers. At the same time, regulators’ growing use of analytics is reinforcing the need for consistent, high quality data.
Contact us to find out more about how Trade Reporting Analytics and DTCC Consulting Services can help address your biggest regulatory reporting challenges.