The Monetary Authority of Singapore (MAS) will introduce reporting requirements for foreign exchange derivatives in a phased-in approach beginning April 2015.
Under the regulator’s plans, all FX forwards, swaps and options will be captured by the mandate.
Banks will have to comply with the rules six months after the final technical standards have been agreed around the end of September this year.
The MAS is seeking market feedback to be submitted by 8 August 2014.
Within the same consultation, the Singapore regulator also notified the market it would enforce the additional reporting of collateral and valuations.
This would also come into effect on 1 April 2015.
The deadline will come exactly a year after the Singapore regulator introduced mandatory reporting of OTC credit and interest rate derivatives.
Reporting requirements are being introduced across all G20 countries as part of a bid to bring transparency to the OTC derivatives markets.