Action type
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Event type
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Applicability
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Comments
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New |
Trade |
When a derivative with a new UTI is created for the first time through a trade, and not because of another prior event.
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Combination ‘New’-‘Clearing’ should be used for the new derivatives resulting from clearing, in particular for derivatives traded on trading venues and cleared on the same day by a CCP. |
New |
Step-in |
When a derivative or position with a new UTI is created for the first time
due to a step-in event. |
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New |
PTRR |
When a derivative with a new UTI is created for the first time due to a PTRR event.
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Combination ‘New’-‘PTRR’ at position level is not applicable, as any derivative newly created due to a PTRR event is expected to be reported at trade level (without prejudice to the possibility of including such derivative subsequently in a position).
Combination ‘New’-‘PTRR’ can be used in case of rebalancing.
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New |
Clearing |
When a derivative with a new UTI is created for the first time due to a Clearing event.
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This combination also includes a clearing of OTC derivatives that were previously bilaterally agreed among counterparties and subsequently cleared.
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New
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Exercise |
When a derivative with a new UTI is created for the first time due to an Exercise event.
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This combination should be used when reporting the underlying swap following the execution of a swaption.
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New
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Allocation |
When a derivative with a new UTI is created for the first time due to an Allocation event.
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New
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Inclusion in position |
When a new position is created by inclusion of trades in that position for the first time.
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New
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Corporate event |
When a derivative or position with a new UTI is created for the first time due to a corporate action on the underlying equity.
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Modify |
Trade |
When a derivative or position with an existing UTI is modified due to renegotiation of the terms of the trade, because of the changes to the terms of the trade agreed upfront in the contract (except for when such changes are already reported e.g. notional schedule) or because previously not available data elements become available. |
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Modify |
Step-in |
When a derivative or position with an existing UTI is modified due to a Step-in event.
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This combination includes also a transfer of a derivative at trade or
position level from one CCP to another. |
Modify |
PTRR |
When a derivative or position with an existing UTI is modified due to a PTRR event.
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Combination ‘Modify’-‘PTRR’ at position level should only be used in the case where CCP positions are subject to PTRR (rather than bilateral netting and subsequent reporting at position
level).
Combination ‘Modify’-‘PTRR’ can be used in the case of compression. |
Modify
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Early termination |
When a derivative or position with an existing UTI is modified due to an early termination agreed in advance or due to a partial termination.
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In the case of an early termination agreed in advance, the counterparties should update the maturity date. In the case of partial early termination, the counterparties should update the notional.
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Modify
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Exercise |
When a derivative or position, is amended due to the exercise of an option or swaption.
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Modify
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Allocation |
When a derivative with an existing UTI is partially allocated. This is used to report the amended notional of the existing derivative.
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Modify
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Credit event |
When a derivative or position with an existing UTI is modified due to a Credit event.
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Modify
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Inclusion in position |
When a position with an existing UTI is modified because of inclusion of a new trade.
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Modify
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Corporate event |
When a derivative or position with an existing UTI is modified due to a corporate action on the underlying equity.
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Modify
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Update |
When a derivative or position that is outstanding on the reporting start date is updated to conform with the amended reporting requirements.
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Modify
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No event type required |
When a position with an existing UTI is modified due to more than one type of business event that occurred intraday.
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Intraday reporting is not mandatory for ETDs, consequently counterparties are allowed to report ‘Modify’ at position level without indicating the event type, where such modification is a result of more than one type of business event that occurred intraday.
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Correct |
No event type required
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When a derivative or position with an existing UTI, or the data related to the collateral, is corrected because of an earlier submission of incorrect information.
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Terminate |
Step-in |
When a derivative or position with an existing UTI is terminated due to a step-in event. This is used for terminating the old UTI post step-in.
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Terminate |
PTRR |
When a derivative or position with an existing UTI is terminated due to
a PTRR event. This is used for terminating the old UTI(s) after PTRR operation. |
Combination ‘Modify’-‘PTRR’ can be used in the case of compression.
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Terminate
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Early termination |
When a derivative or position with an existing UTI is terminated due to an early termination (and when no other cause/event is known as the reason for that termination).
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Terminate
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Clearing |
When a derivative with an existing UTI is terminated due to a Clearing event. This is used for terminating alpha trades.
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In the case of OTC derivatives concluded bilaterally, counterparties need to terminate the previously reported bilateral trades (with combination ‘Terminate’-‘Clearing’) and report the new cleared trades (with
combination ‘New’-‘Clearing’). This also includes a scenario where existing derivatives become eligible for clearing at a later stage. |
Terminate
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Exercise |
When a derivative with an existing UTI is terminated due to an exercise event. For example, this is used for terminating options/swaptions when these are being exercised.
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‘Terminate’ - ‘Exercise’ should not be reported when the option is exercised on the maturity date. More generally, only
terminations that take place at a date prior to the maturity date should be reported. |
Terminate
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Allocation |
When a derivative with an existing UTI is terminated due to an allocation event. This is used for terminating the old UTI post allocation.
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Terminate
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Credit event |
When a derivative or position with an existing UTI is terminated due to a Credit event.
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This combination should be reported when a credit event leads to termination and settlement of the derivatives, e.g. single name CDS.
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Terminate
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Inclusion in position |
When a derivative or position with an existing UTI is terminated due to inclusion in a position.
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A derivative at trade level that is immediately included into a position, should be reported with action type ‘Position component’. Only when a derivative is included in the position after being reported with action type ‘New’, it should be reported with action type ‘Terminate’ and event type ‘Inclusion in position’.
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Terminate |
Corporate event |
When a derivative or position with an existing UTI is terminated due to a corporate action on the underlying equity.
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Error |
No event type required |
When a derivative or position with an existing UTI is cancelled due to an earlier submission of incorrect information. For example, this is used to cancel the UTI of a derivative or position that should not have been reported (e.g. it is not a derivative transaction) or to cancel outstanding derivatives when the counterparty starts to benefit from an intragroup exemption.
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Revive |
No event type required
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When a derivatives or position that has been cancelled is reinstated due to an earlier submission of incorrect information. For example, this is used to reinstate the UTI of a derivative or position that has been erroneously terminated.
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This action type should not be used to reopen a position that was previously netted and terminated. ‘Revive’ should only be used to reopen the trades that were terminated or cancelled by mistake or which were cancelled due to IGT exemption, so that the counterparties do not need to regenerate a new UTI. It should not be used for other reporting scenarios. In particular in the case of netted position, the counterparties need to decide if they maintain the position open (and report the valuation accordingly) or they close the position. If the counterparties close the position and then they enter into another derivative contract of the same type and want to report at position level, they need to report a new position with a new UTI.
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Valuation |
No event type required
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When data related to the valuation are submitted for a derivative or position with an existing UTI.
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Margin update |
No event type required
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When data related to the collateral are submitted for a derivative or position with an existing UTI.
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Position component |
No event type required
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When a new derivative is concluded and included in a position on the same day.
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