Execution Timestamp (SFTR):

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Execution Timestamp

Status: Finalised Last Updated: 28 Jan 2022

Description:
All new trades will require a NEWT message to be sent which includes an execution timestamp. The execution timestamp must be matched to within an hour.- Currently, CA bookings are booked as and when operational teams are processing them. This is often done manually and in isolation between counterparties.

There is no official execution time for a CA booking, because it is merely a downstream effect of an event and not a new ‘trade’ – however these effects are reported as trades to the TR.

All CA bookings should have Field 2.12 (Execution Timestamp) populated as follows.

Best Practice:
Where the data provision to borrowers is provided by undisclosed agent lenders, the Field 2.12 (Execution Timestamp) should be aligned to that provided by the agent lender or, where no explicit bilateral agreement exists, which might otherwise indicate the provider of the execution timestamp for corporate action bookings, the timestamp should be standardised, with the "Time" part equal to 01:01:01 and the "Date" part equal to the Pay date of the event.

In all cases Field 2.12 (Execution Timestamp) should be dated with the pay date of the event. (COAC-124)