Exchange (EXOF1):

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Exchange (EXOF1)

Status: Finalised Last Updated: 24 May 2021

SFTR Report – ETRM / NEWT | Corporate Action Cluster – Return and New Trade | Cash Move – Y

Description:
Always initiated by the issuer. Exchange of holdings for other securities and/or cash. The exchange can be either mandatory or voluntary involving the exchange of outstanding securities for different securities and/or cash. For example, "exchange offer", "capital reorganisation" or "funds separation".

Best Practice:
When booking an Exchange the original contract of the loan should be terminated, and a new contract posted. (COAC-55)