ASIC Proposes OTC Trade Repositories
The paper proposes that derivative trade repositions and data warehouses maintain an electronic database of records of derivative transactions.
ASIC's proposals are in line with international recommendations highlighted by the Committee on Payment and Settlement Systems and International Organization of Securities Commissions, according to Belinda Gibson, ASIC deputy chairman.
"We want to facilitate local and foreign trade repositories to provide their services in Australia, supporting the global and domestic trading activity of our market participants," says Gibson.
The deadline for market participants to respond to the consultation paper is April 12.
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