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Derivatives Trade Reporting

Real-Time Publication and Swap/SBS Repository Reporting

The CFTC and SEC both have regimes for two types of derivatives trade reporting:

  1. Real-Time Reporting to the market, to aid price transparency / discovery for investors.
  2. Swap / Security-Based Swap Data Repository Reporting, for the purposes of regulatory monitoring of systemic risk in the market.

These regimes apply to each of the product sets that the CFTC and SEC regulate, respectively.

Regulated platforms, Swap Exchange Facilities (SEFs), Security-Based SEFs (SBSEFs), Central Counterparties (CCPs) and Designated Contract Markets (DCMs) usually report trades for these purposes.

However, when dealing with HSBC, HSBC is usually required to be the reporting party when facing a customer. The reporting party determination is based off a hierarchy, with the obligations usually falling on financial institutions.

In order to report our trade, we will need customers to register to obtain a Legal Entity Identifier (“LEI”) code, and maintain it. LEIs are issued by an Issuing Organisation (usually one per country). For more information about how to obtain an LEI from your local Issuing Organisation, please see: Get an LEI: Find LEI Issuing Organizations - About LEI – GLEIF

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Need help?

For more information, please contact your HSBC representative.