(1) For the purposes of paragraph 2.2.1(1)(a) and subject to subrule (2):
(a) Opt-In Reporting Phase, Phase 1, Phase 2 or Phase 3 means the phase described by that name in column 1 of Table S1.1;
(b) the Transaction Reporting Requirement is, in relation to a Reporting Entity specified in column 2, for each Reportable Transaction specified in column 4, the requirement specified in column 5; and
(c) the Reporting Period in relation to the Transaction Reporting Requirement is the period specified in column 3.
(2) Where, for the purposes of the Transaction Reporting Requirement in Phase 2, a Reporting Entity has determined in accordance with subrule 1.2.7(2) that a managed investment scheme or trust (in this subrule, the Reporting Scheme or Trust) for which the Reporting Entity is RE or Trustee holds total gross notional outstanding positions of $50 billion or more as at 31 December 2013, the Reporting Entity is required to:
(a) in Phase 2, comply with the Transaction Reporting Requirement in column 5 of Table S1.1 in relation to Reportable Transactions in its capacity as RE or Trustee of the Reporting Scheme or Trust, and not in relation to Reportable Transactions in its capacity as RE or Trustee of any managed investment scheme or trust that is not a Reporting Scheme or Trust; and
(b) in Phase 3, comply with the Transaction Reporting Requirement in column 5 of Table S1.1 in relation to Reportable Transactions in its capacity as RE or Trustee of any managed investment scheme or trust that was not a Reporting Scheme or Trust for the purposes of Phase 2.
Opt-In Reporting Phase A Reporting Entity that has given ASIC an Opt-In Notice. From the Effective Date(s) specified in the Opt-In Notice until the date the Reporting Entity is first required to report the Reportable Transaction under Phase 1, Phase 2 or Phase 3. All Reportable Transactions, or Reportable Transactions in the class or classes of Reportable Transactions, specified in the Opt-In Notice. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2, or information that is substantially equivalent to the Derivative Transaction Information set out in Part S2.1 of Schedule 2, as specified in the Opt-In Notice, to the Licensed Repository or Prescribed Repository specified in the Opt-In Notice.
Phase 1 A Reporting Entity that is an Australian Entity and that is registered or provisionally registered as a swap dealer with the US Commodity Futures Trading Commission in accordance with the Commodity Exchange Act 1936 (US). From 1 October 2013 until 30 September 2014 (inclusive) All Reportable Transactions. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository or a Prescribed Repository.
From 1 October 2014 onwards All Reportable Transactions. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository.
Phase 2 A Reporting Entity that:(a) is an Australian ADI, an AFS Licensee, a CS Facility Licensee, an Exempt Foreign Licensee or a Foreign ADI; and(b) as at 31 December 2013 holds total gross notional outstanding positions of AUD $50 billion or more; and(c) is not required to report under Phase 1.Note: See Rule 1.2.7 in relation to total gross notional outstanding positions. From 1 April 2014 to 30 September 2014 (inclusive). All Reportable Transactions in credit derivatives and interest rate derivatives. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository or a Prescribed Repository.
From 1 October 2014 onwards. All Reportable Transactions. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository.
Phase 3 A Reporting Entity that:(a) is an Australian ADI, an AFS Licensee, a CS Facility Licensee, an Exempt Foreign Licensee or a Foreign ADI; and(b) is not required to report under Phase 1 or Phase 2. From 1 October 2014 to 31 March 2015 (inclusive). All Reportable Transactions in credit derivatives and interest rate derivatives. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository.
From 1 April 2015 onwards. All Reportable Transactions. A Reporting Entity must report, for each Reportable Transaction, the Derivative Transaction Information set out in Part S2.1 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository.
Note: As at the date the Rules are made, the Prescribed Classes under the Corporations (Derivatives) Determination 2013 are commodity derivatives that are not electricity derivatives, credit derivatives, equity derivatives, foreign exchange derivatives and interest rate derivatives.
Part S1.2 Position Reporting Requirements
S1.2.1 Position Reporting Requirements
(1) For the purposes of paragraph 2.2.1(1)(b) and subject to subrule (2):
(a) Opt-In Reporting Phase, Phase 1, Phase 2 or Phase 3 means the phase described by that name in column 1 of Table S1.2;
(b) the Position Reporting Requirement is, in relation to a Reporting Entity specified in column 2, for all outstanding positions (Reportable Positions) referred to in column 3, the requirement specified in column 4; and
(c) the Position Reporting Date for the Position Reporting Requirement is the date specified in column 5.
(2) Where, for the purposes of the Position Reporting Requirement in Phase 2, a Reporting Entity has determined in accordance with subrule 1.2.7(2) that a managed investment scheme or trust (in this subrule, the Reporting Scheme or Trust) for which the Reporting Entity is RE or Trustee holds total gross notional outstanding positions of $50 billion or more as at 31 December 2013, the Reporting Entity is required to:
(a) in Phase 2, comply with the Position Reporting Requirement in column 4 of Table S1.2 in relation to Reportable Positions held in its capacity as RE or Trustee of the Reporting Scheme or Trust, and not in relation to Reportable Positions held in its capacity as RE or Trustee of any managed investment scheme or trust that is not a Reporting Scheme or Trust; and
(b) in Phase 3, comply with the Position Reporting Requirement in column 4of Table S1.2 in relation to Reportable Positions held in its capacity as RE or Trustee of any managed investment scheme or trust that was not a Reporting Scheme or Trust for the purposes of Phase 2.
Table S1.2: Position Reporting Requirements
Phase 2. Reporting Entities 3. Reportable Position 4. Position Reporting Requirement 5. Position Reporting Date
Opt-In Reporting Phase A Reporting Entity that has given ASIC an Opt‑In Notice. The outstanding positions, as at the Effective Date(s) specified in the Opt-In Notice, in relation to the Reportable Transactions, or class or classes of Reportable Transactions, specified in the Opt-In Notice. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2, or information that is the same or substantially the same as the Derivative Position Information set out in Part S2.2 of Schedule 2, as specified in the Opt-In Notice, to the Licensed Repository or Prescribed Repository specified in the Opt-In Notice. The Effective Date(s) specified in the Opt‑In Notice, being no later than 30 September 2014.
Phase 1 A Reporting Entity that is an Australian Entity and that is registered or provisionally registered as a swap dealer with the US Commodity Futures Trading Commission in accordance with the Commodity Exchange Act 1936 (US) All outstanding positions in OTC Derivatives as at 1 October 2013 that, if entered into on 1 October 2013, would be required to be reported by the Reporting Entity in accordance with the Transaction Reporting Requirements. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository. 1 October 2014
Phase 2 A Reporting Entity that:(a) is an Australian ADI, an AFS Licensee, a CS Facility Licensee, an Exempt Foreign Licensee or a Foreign ADI;(b) as at 31 December 2013 holds total gross notional outstanding positions of AUD $50 billion or more; and(b) is not required to report under Phase 1. Note: See Rule 1.2.7 in relation to total gross notional outstanding positions. All outstanding positions as at 1 April 2014 in OTC Derivatives that are credit derivatives and interest rate derivatives that, if entered into on 1 April 2014, would be required to be reported by the Reporting Entity in accordance with the Transaction Reporting Requirements. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository. 1 October 2014
All outstanding positions as at 1 October 2014 in OTC Derivatives that are equity derivatives, foreign exchange derivatives and commodity derivatives that are not electricity derivatives that, if entered into on 1 October 2014, would be required to be reported by the Reporting Entity in accordance with the Transaction Reporting Requirements. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository. 1 April 2015
Phase 3 A Reporting Entity that:(a) is an Australian ADI, an AFS Licensee, a CS Facility Licensee, an Exempt Foreign Licensee or a Foreign ADI; and(b) is not required to report under Phase 1 or Phase 2. All outstanding positions as at 1 October 2014 in OTC Derivatives that are credit derivatives and interest rate derivatives that, if entered into on 1 October 2014, would be required to be reported by the Reporting Entity in accordance with the Transaction Reporting Requirements. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository. 1 April 2015
All outstanding positions as at 1 April 2015 in OTC Derivatives that are equity derivatives, foreign exchange derivatives and commodity derivatives that are not electricity derivatives that, if entered into on 1 April 2015 would be required to be reported by the Reporting Entity in accordance with the Transaction Reporting Requirements. A Reporting Entity must report, for all Reportable Positions, the Derivative Position Information set out in Part S2.2 of Schedule 2 to a Licensed Repository, or, if there is no Licensed Repository, to a Prescribed Repository. 1 October 2015
Note: As at the date the Rules are made, the Prescribed Classes under the Corporations (Derivatives) Determination 2013 are commodity derivatives that are not electricity derivatives, credit derivatives, equity derivatives, foreign exchange derivatives and interest rate derivatives.