INTERACTIVE
TIME-SERIES
REPORTING
ALL
CALCULATIONS
FULL
TRANSPARENCY
Key Features
Maintain all Static Data
Enabling you to re-use in other types of regulatory reporting.
Automate Derivative Exposure Calculation
Reducing the risk of errors and
saving your team time.
Full Time-Series Export Reporting Available
Enabling you to have a full
audit trail of all calculations.
Alerts for any changes in Derivative Use over time
Ensuring you keep up-to-date with any changes in regulation.
Collate all Data in easy-to-use Excel template
Enabling straightforward report creation.
One-click XML Report Generation
Making submission to the FCA simple.
The next deadline is 12th December 2023
Are you ready?
2023/12/12 17:00:00
Funds-Axis provide two solutions
We offer a fully automated FCA Derivatives Use Reporting solution as well as a simple Excel to XML conversion solution:
Lite Solution
Suitable for managers seeking a simple Excel to XML conversion reporting tool
Our lite solution contains the following features:
- Data Collection
- Collating Data in Excel Template
- Report Generation
- XML Conversion
- XML Conversion
- XML Conversion
Full Solution
Suitable for managers seeking a fully automated outsourced reporting solution
Our fully automated solution contains the following features:
- Data Collection
- Derivative Exposure Calculations Completed
- Review and Logic Validation
- Report Generation
- XML Conversion
- Gabriel Upload Support
Reporting Tool Overview
The FCA Derivatives Use report contains detailed information for each UCITS scheme, or sub-fund where applicable, that uses derivatives and is managed by the AFM, including:
- Gross long and short derivatives positions;
- Details of risk measures used;
- Information on fund leverage including average leverage, maximum expected level, usually expected level and internal maximum level; and
- Confirmation as to whether derivatives are being used for EPM purposes.
AFMs should submit additional reports at any time during the year if there has been a significant change to a fund’s risk profile since its last report.
ATLAS Funds Training
Learn more about Derivatives Rules with our Online Fund Training portal.
Frequently Asked Questions
Q1: Who is required to submit a derivatives use report?
All authorised fund managers who manage UCITS funds are required to submit a Derivatives Use Report to the FCA. This includes UK UCITS management companies who manage EEA UCITS schemes. For fund managers and management companies who are domiciled in other jurisdictions such as Ireland and Luxembourg they will be required to submit a report to their respective regulator based in that country rather than the FCA.
Q2: What type of funds are included in a derivatives use report?
The Derivative Use Report is applicable to UCITS funds only and sub-funds where applicable. Other types of funds such as NURS and QIS are not required to complete this report.
Q3: What information is required for a derivatives use report?
The following information is required to complete the Derivatives Use Report:
- The name and scheme (or, if applicable sub-fund) product reference number (PRN) of the relevant fund;
- The fund’s assets under management (AUM) and its gross long and short derivative positions (%);
- Confirmation as to whether the derivatives are used for investment purposes (as opposed to efficient portfolio management) purposes;
- Details of the risk measures used (commitment approach, absolute or relative Value at Risk);
- Information on the fund’s leverage, calculated according to EU guidelines, and the relevant fund leverage limits if defined in the prospectus, and
- Information on the types of derivative used by the investment manager
Further guidance notes on derivatives use reports can be found in the FCA Handbook COLL 6 Annex 3.
The FCA also recommends that managers review CESR’s Guidelines on Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS (CESR/10-788) before completing the report.
Q4: Where do I submit a derivatives use report?
The Derivatives Use Report should be submitted to the FCA via its GABRIEL system.
Q5: When is the deadline for submitting a derivatives use report?
The deadline for submission in 2023 is 11th December.
Regulatory Reporting Insights
Book Your Demo Now
Ready to experience how our multi-modular system can transform your approach to investment compliance, regulatory reporting, risk monitoring, and investor document production? Book your demo now by selecting a date and time that works best for you from the calendar below.
Once you’ve completed the booking, our team will promptly email you to confirm the details of your demo session. Our demos typically last around an hour, during which we’ll showcase the power of our platform firsthand!