MAS Rewrite, the next challenge
The Monetary Authority of Singapore’s new version of its OTC derivative reporting, “MAS Rewrite”, will go live in October 2024.As MAS aims at aligning with other regulators, Rewrite introduces some concepts that we are already familiar with, following EMIR Refit implementation. We have identified, among the main points of attention: alignment to global UTIs and UPIs standards generalization (less exemption) of collateral reporting reportable fields extension to 134 reporting of FX Swaps as two separate transactions linked through the “swap link Id” ISO 20022 XML messaging format More to come as we are getting prepared for the DTCC UATs on June 14th.