Application Kit: Australian derivative trade repository licence (ADTR licence) Key points Refer to this kit and Appendix 2 of Regulatory Guide 249 Derivative trade repositories (RG 249) after you have decided that you want to apply for an Australian Derivative Trade Repository (ADTR) licence. Our step by step guide will help you prepare your application. Your application should include: answers to questions in the checklist in this kit; copies of documents and other evidence in support of your application; a completed cross referenced checklist indicating where you have answered the questions and included supporting evidence. You will need to pay a fee when you lodge your formal application. Who should use this kit? Use this kit, together with Appendix 2 of RG 249, after you have decided that you want to apply for an ADTR licence. Cost of an ADTR licence You will need to pay a fee when you lodge a formal application for an ADTR licence. For the current fee, refer to the Corporations (Fees) Regulations 2001, Schedule 1, Item 27.
Office Holders of applicant and holding company the name and address of every director, secretary and members of the senior management of the applicant and of any holding company of the applicant RG249.127(g) Program of operations your program of operations, including the location or intended location of your main business activities RG249.127(h) Related bodies corporate the identification of any related bodies corporate and your position within any corporate group RG249.127(i) Other services details of any service, other than the trade repository function, that you intend to provide RG249.127(j Licenses/ registrations a list of all regulatory licences or registrations (or exemptions from licensing requirements) worldwide, and any current applications for the same, held or made by you and your related bodies corporate RG249.127(k) Accounting year end your accounting period year end RG249.127(l) Constitution a copy of your constitution RG249.127(m) Proceedings details of any pending judicial, administrative, tax, insolvency, arbitration or any other litigation proceedings, irrespective of their type, that you or any related body corporate may be party to, or any such proceedings that are no longer pending, if they still represent a material expense to you or any related body corporate RG249.127(n) Policies and Procedures Where you are required to include your policies and procedures with your application, you must ensure that they contain the following information: Maintenance responsibility who is responsible for the approval and maintenance of the policies and procedures RG249.128(a)
Part 6 – Financial resources Checklist Answer all information requests Legal and Regulation references Application cross references Give us enough information so we have a complete picture of how your trade repository operates. If you think any item doesn't apply to your trade repository, explain why it is irrelevant. Refer to the reference below for guidance and more information Tab, page, paragraph on the application where the question/ item is addressed. Financial resources and business plans Your application must include the following financial and business information: Audited consolidated financial statements a complete set of your audited consolidated financial statements (and those of any corporate group of which you are a member), prepared on an annual basis in conformity with international or Australian accounting standards, for the three financial years preceding the date of your application. RG249.137(a) External auditor registration the name and national registration number of your external auditor. RG249.137(b) Financial business plans a financial business plan contemplating different business scenarios for the trade repository services over a minimum period. RG249.137(c) Funding details of the funding referred to in Rule 2.4.7. Rule 2.4.7 RG249.137(d) Wind-down plan a viable recovery or orderly wind-down plan, as referred to in Rule 2.4.11. Rule 2.4.11 RG249.137(e) Financial statements where historical information not available Where the historical financial information referred to in Q6.1 above is not available, the following documentation: RG249.137(f) a statement demonstrating proper resources and expected business status in six months after registration is granted; RG249.137(f)(i) an interim financial report where the financial statements are not yet available for the requested period of time; and RG249.137(f)(ii)
Other measures and controls any other measures and controls you have put in place to ensure that conflicts of interest are identified, managed and disclosed. RG249.138(c) Inventory and mitigation of conflicts of interest Please ensure your application contains an inventory of existing material conflicts of interest in relation to any services provided by you. The inventory must: Up to date be up to date at the time of your application; RG249.139(a) Description of management include a description of how these existing material conflicts of interest are being managed; and RG249.139(b) Other undertakings where you are part of a group, include any material conflicts of interest arising from other undertakings within the group. RG249.139(c) Part 8 – Resources and procedures Checklist Answer all information requests Legal and Regulation references Application cross references Give us enough information so we have a complete picture of how your trade repository operates. If you think any item doesn't apply to your trade repository, explain why it is irrelevant. Refer to the reference below for guidance and more information Tab, page, paragraph on the application where the question/ item is addressed. Information technology resources and outsourcing Your application must include a description of the following items. We may also require you to include a written confirmation from an independent third party (with the scope of the work approved by ASIC) relating to your operational readiness and the adequacy of your governance framework and all of your information technology systems.
User rights and obligations a copy of the terms and conditions that determine the user’s rights and obligations RG249.144(b) Different categories of access a description of the different categories of access (if there is more than one) that are available to users RG249.144(c) Access policies and procedures – other service providers the access policies and procedures under which other service providers may have non-discriminatory access to information maintained by the trade repository where the relevant counterparties have provided their consent RG249.144(d) Transparency about compliance arrangements and data accuracy Your application must contain a description of the procedures you have put in place designed to provide reasonable assurance: Reporting counterparty compliance of the compliance of the reporting counterparty or submitting entity with the reporting requirements RG249.145(a) Completeness and correctness of the completeness and correctness of the information reported to it RG249.145(b) Data reconciliation that data can be reconciled between trade repositories if counterparties report to different trade repositories RG249.145(c) Pricing policy transparency Your application must contain: Pricing policy copy of your pricing policy, including the fees for individual services offered (including ancillary services) and policies relating to any available discounts or rebates or any other incentives or benefits RG249.146(a) Method of making available a description of your methods for making this information available to users RG249.146(b)