The mandatory submission of data in prescribed formats by financial institutions due to regulatory requirements including, for example transaction reporting to a trade repository for; ASIC, Canada, CFTC, EMIR, HKMA, MAS and MiFID. This data provides transparency to various regulators which allows them to perform their regulatory mandates which include; market abuse, competition and systemic risk. There are different regulatory reporting requirements, which must be submitted to the relevant regulatory bodies on a daily, monthly, quarterly, semi-annual and annual basis.

A registered entity that collects and maintains records of transactions, such as The Depository Trust & Clearing Corporation (DTCC), Hong Kong Exchanges (HKEX) and CME Group. These electronic platforms act as registries of over-the-counter (OTC) derivatives, exchange traded derivatives, and securities financing transactions.

Trade reporting focuses on ensuring public transparency and transaction reporting is used to provide more detailed transparency to regulators, which allows regulators to detect and prevent market abuse, and assess systemic risks.

EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk. MiFID II requires trade reporting to the public and transaction reporting to NCAs for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.

Both Canadian and the Commodity Futures Trading Commission (CFTC) require single sided transaction reporting with the obligation to report falling on the reporting counterparty which is typically the Derivatives Dealer in Canada and the Swap Dealer under CFTC. Unlike CFTC which has a single regime, Canadian reporting is split across 13 provinces and territories including Ontario Securities Commission, Manitoba Securities Commission and Authorite des marches financiers (Quebec). Different firms fall under the jurisdiction of different regulators based on several factors and often transactions need to be reported to multiple regulators within Canada.

MiFID II requires trade reporting to the public and transaction reporting to National Competent Authority's (NCAs) for equities, bonds, listed derivatives and OTC derivatives. The NCAs use this data to perform their regulatory oversight including market abuse and competition.

EMIR requires transaction details to be reported to trade repositories by both counterparties for both OTC and exchange traded derivatives. The trade repositories try to match transactions together based on Unique Transaction Identifiers (UTIs). The National Competent Authority's (NCAs) and central banks use this data to perform their regulatory oversight of systemic risk.