Broadridge extends OTC Derivatives Reporting Solution. Source: Shutterstock

Broadridge Financial Solutions, a worldwide technology company, has indicated its readiness to support the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC)’s new OTC derivatives reporting regulations, which will go into effect on 21 October 2024.

It is also proactively developing its solutions to include updated regulatory regimes and asset classes, which include the Canadian rewrite in July 2025 and the Hong Kong rewrite in September 2025.

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Broadridge is creating the US version of SFTR for Securities Lending, the SEC 10c-1, which is set to launch in January 2026.

This comes after the addition of the European Money Market Statistical Reporting (MMSR), which went live with an upgrade to v3.6 of rules in July 2024.

Furthermore, Broadridge will be updating its system to support the final CFTC Dodd Frank Reporting modifications as well as significant EU and UK MiFID updates that are expected to roll out between 2025 and 2027.

Broadridge’s adaptable solution streamlines complex trading requirements, allowing firms to seamlessly comply with changing local rules. It is fully prepared to handle these alterations, including the integration of Global Unique Transaction Identifiers (UTIs), Unique Product Identifiers (UPIs), and Critical Data Elements.

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The future improvements that Broadridge has planned serve as a further testament to its dedication to helping customers comply with regulations in the United States, Europe, Canada, Singapore, Australia, Hong Kong, and other regions.

By utilising its extensive industry knowledge, Broadridge regularly provides clients with modern technological solutions that give them the confidence to successfully traverse and adhere to strict international regulatory standards.

Ben Cooling, general manager, regulatory trade, and transaction reporting at Broadridge stated: “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. 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.”