Compilations—Agency prepared template

This instrument is the ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2015/844.

This instrument is made under paragraph 907D(2)(a) of the Corporations Act 2001.

(1) In this instrument:

2024 Transitional Information means Derivative Trade Data referred to in the following table:

Table in Rules	Items in Table
Table S2.1(1) (Derivative Transaction Information - Common data)	9, 23, 25, 26, 36, 51, 52 and 54
Table S2.1(2) (Derivative Transaction Information – Commodity derivative data)	3, 10, 11, 12 and 13
Table S2.2(1) (Derivative Position Information – Common data)	17 and 26

Act means the Corporations Act 2001.

Confirmation Platform means an electronic trade confirmation platform.

Entity Information means Derivative Trade Data referred to in the following table:

Table in Rules	Items in Table
Table S2.1(1) (Derivative Transaction Information - Common data)	Part (a) of Items 7, 10, 15 and 19
Table S2.1(3) (Equity Derivative and Credit Derivative Data)	Part (a) of Items 1, 3 and 5
Table S2.1(5) (Interest rate derivative data)	Part (a) of Items 6, 8 and 10
Table S2.2(1) (Derivative Position Information – Common data)	Part (a) of Items 6, 8 and 15
Table S2.2(3) (Credit Derivative and Equity Derivative Data)	Part (a) of Items 1, 3 and 5
Table S2.2(5) (Interest rate derivative data)	Part (a) of Items 5, 7 and 9

Name Information means Derivative Trade Data referred to in the following table:

Table in Rules	Items in Table
Table S2.1(1) (Derivative Transaction Information - Common data)	8, 11, 16, 20
Table S2.1(3) (Equity Derivative and Credit Derivative Data)	2, 4 and 6
Table S2.1(5) (Interest rate derivative data)	7, 9 and 11
Table S2.2(1) (Derivative Position Information – Common data)	7, 9 and 16
Table S2.2(3) (Credit Derivative and Equity Derivative Data)	2, 4 and 6
Table S2.2(5) (Interest rate derivative data)	6, 8 and 10

Rules means the ASIC Derivative Transaction Rules (Reporting) 2022.

(2) In this instrument, unless otherwise specified, capitalised terms have the meaning given by the Rules.

Part 2—Exemption

5 Exemption 1 (Exchange-traded derivatives)

Relief

(1) From 1 October 2015, a Reporting Entity does not have to comply with Rule 2.2.1 of the Rules in relation to a Derivative (Exchange-Traded Derivative) where the entry into of the arrangement that is the Derivative takes place on a financial market that is not operated in this jurisdiction and the following apply:

(a) the entry into of the arrangement that is the Derivative is in accordance with the operating rules of the financial market;

(b) the terms of the Derivative are documented under or prescribed by the operating rules of the financial market;

(c) the Derivative is made available in one or more series in accordance with the operating rules of the financial market and the terms of the arrangement constituting the Derivative are the same as for every other Derivative in the same series, with the exception of price.

Condition

(3) A Reporting Entity that relies on the exemption in subsection (1) must report in accordance with the Rules:

(a) information about each of its Reportable Transactions in an Exchange-Traded Derivative starting from the date the Reporting Entity ceases to rely on the exemption; and

(b) the Derivative Position Information set out in Part S2.2 of Schedule 2 of the Rules, about each of its outstanding positions in an Exchange-Traded Derivative as at the date the Reporting Entity starts to report its Reportable Transactions in the Exchange-Traded Derivative.

(3A) Subject to subsection (3B), a Reporting Entity that relies on the exemption in subsection (1) in relation to a Derivative entered into on a financial market must, within 10 business days after entering into the Derivative, give ASIC a written notice (Opt-In Notice) containing the following information:

(a) the name of the Reporting Entity;

(b) the name of the financial market;

(d) the date the Reporting Entity entered into the Derivative.

(3B) The condition in subsection (3A) does not apply to a Reporting Entity in relation to a financial market if:

(a) the Reporting Entity has previously given ASIC an Opt-in Notice in relation to the financial market: or

(b) the financial market is a Regulated Foreign Market for the purposes of the Rules.

(3C) In this section:

ISO 10383:2012 means ISO 10383:2012 Securities and related financial instruments—Codes for exchanges and market identification (MIC) published by the International Organisation for Standardization as in force on the date of this instrument.

6 Exemption 2 (Entity Information)

Relief

(1A) From the day after the Exemption End Date, a Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that:

(a) Rule 2.2.1 requires the Reporting Entity to report Entity Information about an entity (Relevant Entity) in relation to a Reportable Transaction or a Reportable Position to a Trade Repository;

(b) the Reportable Transaction or Reportable Position relates to an OTC Derivative entered into on or before the Exemption End Date; and

(1B) From the day after the Exemption End Date, a Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that:

(a) Rule 2.2.1 requires the Reporting Entity to report Entity Information about an entity (Relevant Entity) in relation to a Reportable Transaction or Reportable Position to a Trade Repository;

(b) the Relevant Entity is not a Reporting Entity referred to in column 2 of Table S1.1 of the Rules;

(c) the Reportable Transaction or Reportable Position relates to an OTC Derivative entered into after the Exemption End Date; and

(d) the Entity Information is not available for the Relevant Entity.

(1C) In subsections (1A) and (1B), Exemption End Date means:

(a) 30 September 2019 if the Relevant Entity:

(i) is incorporated or formed in this jurisdiction; or

(ii) is a counterparty to the OTC Derivative to which the Reportable Transaction or Reportable Position relates as the result of a transaction entered into by a branch of the Relevant Entity that is located in this jurisdiction; and

(b) otherwise, 31 March 2020.

Where relief applies

(2) The exemptions in subsections (1A) and (1B) apply where the Reporting Entity reports to the Trade Repository the internal entity identifier for the Relevant Entity used by the Reporting Entity.

Conditions

(3) Subject to subsection (8), it is a condition of the exemption in subsection (1A) that the Reporting Entity must use its best efforts to obtain the Entity Information as soon as reasonably practicable, including by maintaining and following documented procedures for one or both of the following:

(a) requesting that Relevant Entities obtain Entity Information and provide it to the Reporting Entity;

(b) obtaining the Entity Information on behalf of Relevant Entities.

(3A) Subject to subsection (8), it is a condition of the exemption in subsection (1B) that the Reporting Entity must use its best efforts to obtain the Entity Information as soon as reasonably practicable, including by maintaining and following documented procedures for one or both of the following:

(a) requiring the Relevant Entity to:

(i) apply for the issue of Entity Information within 2 Business Days after the requirement to report the Entity Information arises, unless an application for the issue of Entity Information in relation to the Relevant Entity has already been made; and

(ii) provide the Entity Information to the Reporting Entity as soon as reasonably practical after it is issued to the Relevant Entity; or

(b) apply for the issue of Entity Information on behalf of the Relevant Entity within 2 Business Days after the requirement to report the Entity Information arises, unless an application for the issue of Entity Information in relation to the Relevant Entity has already been made.

(4) As soon as reasonably practicable after Entity Information for a Relevant Entity is available, including on a public website, the Reporting Entity must use all reasonable endeavours to report the Entity Information to the Trade Repository, unless the Derivative to which the Entity Information relates has been terminated or has expired.

(5) The Reporting Entity must, on written request by ASIC, provide ASIC with a written statement reporting on the Reporting Entity’s compliance with the conditions in subsection (3) or (3A) (as applicable) and subsection (4) during the period specified in the request.

(6) The Reporting Entity must provide the statement under subsection (5) within the time specified in the written request by ASIC or, if no time is specified, within a reasonable time.

Exclusion

(7) Subject to subsection (8), the exemption in subsection (1B) ceases to apply in relation to a Reporting Entity and a Relevant Entity if:

(a) Rule 2.2.1 requires the Reporting Entity to report Entity Information in relation to the Relevant Entity after the Exemption End Date in relation to an OTC Derivative entered into after the Exemption End Date; and

(b) an application for the issue of Entity Information in relation to the Relevant Entity has not been made within 2 Business Days after the requirement to report the Entity Information arises.

New Zealand registered banks

(8) The conditions in subsections (3) and (3A) and the exclusion in subsection (7) do not apply to a Reporting Entity if all the following are satisfied:

(a) the Reporting Entity is a New Zealand registered bank within the meaning of the Banking Act 1959;

(b) the Relevant Entity is not an Australian entity;

(c) the Relevant Entity is not a covered counterparty within the meaning of Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives;

Note: Prudential Standard CPS 226 Margining and risk mitigation for non-centrally cleared derivatives is the Schedule to Banking, Insurance, Life Insurance and Superannuation (prudential standard) determination No. 1 of 2019.

(d) the Reporting Entity does not have a credit support annex (or other industry standard credit support documents) in place with the Relevant Entity.

6A Exemption 2A (Reference Entity Information)

Relief

(1) A Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule 2.2.1 requires the Reporting Entity to report the information in paragraph (a) of item 5 of Table S2.1(3) in the Rules (Reference Entity Information) about an entity (Reference Entity) in relation to a Reportable Transaction or Reportable Position to a Trade Repository.

Where relief applies

(2) The exemption in subsection (1) applies where:

(a) the Reportable Transaction or Reportable Position relates to an OTC Derivative that is a credit default swap or a total return swap; and

(b) the Reporting Entity reports to the Trade Repository the CDS Reference Entity Database code (also known as a “RED code”) issued by IHS Markit for the Reference Entity.

6B Exemption 2B (Joint Counterparties)

Relief

(1) A Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that.

(a) Rule 2.2.1 requires the Reporting Entity to report Entity Information about an entity (Relevant Entity) in relation to a Reportable Transaction or a Reportable Position to a Trade Repository;

(b) the Relevant Entity is comprised of two or more counterparties that entered into the OTC Derivative the subject of the Reportable Transaction or Reportable Position as joint or joint and several counterparties; and

Where relief applies

(2) The exemption in subsection (1) applies where the Reporting Entity reports to the Trade Repository the internal entity identifier for the Relevant Entity used by the Reporting Entity.

Conditions

(3) The Reporting Entity must maintain records of the counterparties that comprise the joint or joint and several counterparties to the OTC Derivative, and must be able to link those counterparties to the internal entity identifier reported by the Reporting Entity to the Trade Repository.

(4) The Reporting Entity must, on written request by ASIC, provide ASIC with a written statement reporting on the Reporting Entity’s compliance with the condition in subsection (3) during the period specified in the request.

(5) The Reporting Entity must, on written request by ASIC, provide ASIC with a written statement identifying the counterparties that comprise the joint or joint and several counterparties that are linked to an internal entity identifier that has been reported by the Reporting Entity to the Trade Repository.

(6) The Reporting Entity must provide a written statement under subsection (4) or (5) within the time specified in the written request by ASIC or, if no time is specified, within a reasonable time.

7 Exemption 3 (Name Information)

Relief

(1) From 1 October 2015 to 20 October 2024, a Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule requires the Reporting Entity to report Name Information about an entity (Relevant Entity) in relation to a Reportable Transaction or Reportable Position to a Trade Repository.

Where relief applies

(2) The exemption in subsection (1) applies where the Reporting Entity reports to the Trade Repository an identifier for the Relevant Entity that is a Legal Entity Identifier (LEI), interim entity identifier, Designated Business Identifier or Business Identifier Code (BIC Code).

11 Exemption 7 (Trade identifiers)

Relief

(1) From 1 October 2015 to 20 October 2024, a Reporting Entity does not have to comply with paragraphs 2.2.1(1)(a) and (c) of the Rules to the extent those paragraphs require the Reporting Entity to report, for a Reportable Transaction, Derivative Transaction Information referred to in Item 1 of Table S2.1(1) of the Rules that is a ‘universal transaction identifier’ or a ‘single transaction identifier’.

Condition

(2) The Reporting Entity must report, for the Reportable Transaction:

(a) the trade identifier (if any) for the Reportable Transaction that the Reporting Entity is of the reasonable view would be required to be reported as a unique transaction identifier:

(i) under laws or other rules (however described) in force in one or more foreign jurisdictions; and

(ii) on the assumption that neither the Rules nor this instrument require the Reporting Entity to report the Reportable Transaction; and

(iii) on the assumption that the reporting deadline in this jurisdiction for a Reportable Transaction is the end of the second business day in Sydney after the day on which the Reportable Transaction occurs; or

(b) if paragraph (a) is not applicable—the trade identifier created by the trading venue on which the Reportable Transaction was executed (if applicable); or

(c) if paragraphs (a) and (b) are not applicable—the trade identifier created by the provider of any of the Confirmation Platforms on which the Reportable Transaction was confirmed (if applicable); or

(d) if paragraphs (a) to (c) are not applicable—the internal trade identifier used by the Reporting Counterparty;

(each, a Trade Identifier) and must report the Trade Identifier otherwise in accordance with the Rules as if the Trade Identifier were information reported under paragraph 2.2.1(1)(a) or (c) of the Rules (as applicable).

13 Exemption 9 (FX Securities Conversion Transactions)

Relief

From 1 October 2015 to 20 October 2024, a Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule requires the Reporting Entity to report a Reportable Transaction or Reportable Position in a foreign exchange contract:

(a) that is entered into by the Reporting Entity solely to facilitate the settlement of a transaction for the purchase or sale of a foreign currency denominated security; and

(b) under which consideration is provided to settle the transaction not more than 7 business days after the day on which the transaction is entered into.

13A Exemption 10 (Spot Settlement Transactions)

Relief

A Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule requires the Reporting Entity to report a Reportable Transaction or Reportable Position in an OTC Derivative that is an arrangement in relation to which the following are satisfied:

(a) a party has obligation to buy, and another party has an obligation to sell, intangible property at a price and within a period of no longer than the shortest period determined by usual market practice for delivery of the property;

(b) the arrangement does not permit the seller’s obligations to be wholly settled by cash, or by set-off between the parties, rather than by delivery of the property;

but only to the extent that the arrangement deals with that purchase and sale.

13B Exemption 11 (2024 Transitional Information Reporting)

Relief

(1) A Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule requires the Reporting Entity to report 2024 Transitional Information.

Where exemption does not apply

(2) The exemption in subsection (1) does not apply in relation to an item (relevant item) of 2024 Transitional Information if the systems of the Derivative Trade Repository to which the Reporting Entity reports Derivative Trade Data require the reporting of:

(a) the relevant item; or

(b) another item of Derivative Trade Data, the reporting of which requires the reporting of the relevant item.

Relief

(3) A Reporting Entity does not have to comply with Rule 2.2.1 of the Rules to the extent that Rule requires the Reporting Entity to report Derivative Trade Data referred to as item 21 (‘Whether the Derivative has been confirmed’) or item 22 (Form of confirmation) of Table S2.1(1) in Schedule 2 to the Rules.

Where exemption applies

(4) The exemption in subsection (3) applies if:

(a) the systems of the Derivative Trade Repository to which the Reporting Entity reports Derivative Trade Data do not require the reporting of item 21 or item 22 (as applicable); or

(b) the Reporting Entity has reported ‘not confirmed’ in relation to item 21 or item 22 (as applicable) to the Derivative Trade Repository.

Conditions

(5) A Reporting Entity that relies on the exemption in subsection (1) must maintain records of the 2024 Transitional Information in accordance with Rule 2.3.1 of the Rules.

(6) A Reporting Entity that relies on the exemption in subsection (3) must maintain records of the Derivative Trade Data referred to in item 21 or item 22 (as applicable) in accordance with Rule 2.3.1 of the Rules.

14 Exemption 1 to 11 – Other conditions (Record-keeping)

It is a condition of each exemption in this instrument that the Reporting Entity must:

(a) keep records that enable the Reporting Entity to demonstrate it has complied with the conditions in subsections 5(3), 6B(3), 11(2), 13B(5) and 13B(6) (as applicable) of this instrument; and

(b) keep the records referred to in paragraph (a) for a period of at least five years from the date the record is made or amended; and

(c) on written request by ASIC, provide ASIC with records or other information relating to compliance with or determining whether there has been compliance with the conditions referred to in paragraph (a), within the time specified in the request or if no time is specified, within a reasonable time.

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

ad = added or inserted	orig = original
am = amended	par = paragraph(s)/subparagraph(s)
amdt = amendment	/sub‑subparagraph(s)
c = clause(s)	pres = present
C[x] = Compilation No. x	prev = previous
Ch = Chapter(s)	(prev…) = previously
def = definition(s)	Pt = Part(s)
Dict = Dictionary	r = regulation(s)/rule(s)
disallowed = disallowed by Parliament	reloc = relocated
Div = Division(s)	renum = renumbered
exp = expires/expired or ceases/ceased to have	rep = repealed
effect	rs = repealed and substituted
F = Federal Register of Legislation	s = section(s)/subsection(s)
gaz = gazette	Sch = Schedule(s)
LA = Legislation Act 2003	Sdiv = Subdivision(s)
LIA = Legislative Instruments Act 2003	SLI = Select Legislative Instrument
(md not incorp) = misdescribed amendment	SR = Statutory Rules
cannot be given effect	Sub‑Ch = Sub‑Chapter(s)
mod = modified/modification	SubPt = Subpart(s)
No. = Number(s)	underlining = whole or part not
o = order(s)	commenced or to be commenced
Ord = Ordinance

Endnote 3—Legislation history

Name	Registration	Commencement	Application, saving and transitional provisions
2015/844	30/09/2015 (see F2015L01530)	01/10/2015
2016/0043	29/01/2016 (see F2016L00072)	29/01/2016	-
2016/913	27/09/2016 (see F2016L01496)	28/09/2016	-
2017/0036	25/01/2017 (see F2017L00065)	26/01/2017	-
2017/0723	12/09/2017 (see F2017L01160)	13/09/2017	-
2017/861	28/09/2017 (see F2017L01294)	29/09/2017	-
2018/172	23/03/2018 (see F2018L00360)	24/03/2018	-
2018/810	24/09/2018 (see F2018L01334)	25/09/2018	-
2019/169	13/03/2019 (see F2019L00284)	14/3/2019	-
2019/958	01/10/2019 (see F2019L01301)	01/10/2019	-
2020/242	27/03/2020 (see F2020L00332)	01/04/2020	-
2020/827	30/09/2020 (see F2020L01264)	01/10/2020	-
2022/775	05/09/2022 (see F2022L01170)	06/09/2022	-
2023/36	20/04/2023 (see F2023L00456)	21/04/2023: Schedule 1, items 2–13 21/10/2024: Schedule 3	-
2023/504	01/09/2023 (see F2023L01157)	01/09/2023: Schedule 1 21/10/2024: Schedule 2

Endnote 4—Amendment history

Provision affected	How affected
Section 2	rep. s48D LA
Subsection 4(1)	am. 2019/169; 2020/827 and 2023/36 ad. 2023/504 rep. 2023/504
Subsection 5(1)	am. 2018/810; 2019/169; 2020/827; 2022/775 and 2023/36
Subsection 5(2)	rep. 2020/827
Paragraph 5(3)(a)	am. 2018/810; 2020/827; 2022/775 and 2023/36
Paragraph 5(3)(b)	am. 2018/810; 2020/827; 2022/775 and 2023/36
Subsection 5(3A)	ad. 2019/169 am. 2020/827
Subsection 5(3B)	ad. 2019/169
Subsection 5(3C)	ad. 2019/169
Paragraph 5(3B)(b)	am. 2020/827
Subsection 5(4)	am. 2017/0723 rep. 2020/827
Subsection 5(5)	rep. 2020/827
Section 6	rep. 2023/36
Subsection 6(1)	am. 2018/810 and 2019/169 rep. 2020/242
Subsection 6(1A)	ad. 2019/169 am. 2019/958
Subsection 6(1B)	ad. 2019/958
Subsection 6(1C)	ad. 2019/958 am. 2020/242
Subsection 6(2)	am. 2019/958 and 2020/242
Subsection 6(3)	am. 2019/958 and 2020/242
Subsection 6(3A)	ad. 2019/958 am. 2020/242
Subsection 6(4)	ad. 2019/169
Subsection 6(5)	ad. 2019/169 am. 2019/958
Subsection 6(6)	ad. 2019/169
Subsection 6(7)	ad. 2019/958 am. 2020/242
Subsection 6(8)	ad. 2020/202
Section 6A	ad. 2019/958 rep. 2023/36
Section 6B	ad. 2019/958 rep. 2023/36
Subsection 7(1)	am. 2016/913; 2018/810; 2020/827; 2022/775 and 2023/36
Subsection 8(1)	am. 2018/810 and 2019/169
Section 8	rep. 2020/827
Subsection 9(1)	am. 2016/913; 2018/810 and 2019/169
Section 9	rep. 2020/827
Section 10	rep. 2020/827
Subsection 11(1)	am. 2016/0043; 2017/0036; 2017/861; 2018/172; 2020/242; 2022/775 and 2023/36
Subsection 11(2)	am. 2020/242
Subparagraph 11(2)(a)(i)	am. 2023/36
Subparagraph 11(2)(a)(ii)	am. 2023/36
Subparagraph 11(2)(a)(ii) (note)	rep. 2023/36
Subparagraph 11(2)(a)(iii)	ad. 2023/36
Paragraph 11(2)(b)	am. 2023/36
Section 12	rep. 2020/827
Section 13	am. 2016/913; 2018/810; 2020/827; 2022/775 and 2023/36
Section 13A	ad. 2022/775 rep. 2023/36
Section 13B	ad. 2023/504 rep. 2023/504
Section 14 (Heading)	am. 2022/775 and 2023/504 am. 2023/504
Paragraph 14(a)	am. 2020/827; 2023/36 and 2023/504 am. 2023/36 and 2023/504