Reporting Counterparty

Field 4.04 | Matching Date: n/a | Tolerance: n/a>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 4.04 | Matching Date: n/a | Tolerance: n/a

Description:
Unique code identifying the reporting counterparty.

Best Practice:
For action types "NEWT", "CORR" and "REUU": This field shall contain a valid LEI recognised by GLEIF. The LEI shall pertain to a legal entity and not a branch. The status of the LEI for message template "EROR" is irrespective, but for all other message templates it can be either:

• Issued

• Pending Transfer

• Pending Archival

There are three models that determine the population logic of this field, as follows:

• Agency facing the Beneficial Owner.

• Agency facing a Trust Bank facing the Beneficial Owner

• Principal

Reporting cash reinvestment is now in scope for all member firms, whether broker, agent lender or other, therefore; when reinvesting on behalf of a client, this is the beneficial owner or trust bank of the trade, except where a lender or borrower takes on a principle position. Essentially the beneficiary. (SFTR-123)