How do the end of year holidays affect your trade reporting?

Public holidays and bank holidays can have a major impact on trade and transaction reporting requirements, especially if you are an entity operating under multiple regimes.

When there is a public holiday where the regulatory body (or regulated entity) is located, it is likely that the timing of report submissions will be extended commensurately. Regulatory bodies globally generally treat holidays that occur on Monday to Friday as a non-business day and therefore the data is required to be reported no later than the close of the next working day.

This is made more complicated in regions where there are multiple jurisdictions and unique holidays. An example of this is the UK bank holidays compared with the various European countries and in Australia where there are multiple states, each with their own public holidays.