Mirroring - Delegated / Assisted Reporting

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Status: Best Practice Finalised, Last Updated: 10/08/2021

Question:
Is 'mirroring' at the TR technically possible; defined as a single file being transposed to create opposite and matching files?

Best Practice:
Most TRs offer a 'mirroring' service which is not a delegated, but an assisted reporting product.

Mirroring is defined as the transposition of the single file received, to create an opposite matching file from the counterparts' perspective. Opposing fields that do not match and require a +/- are 'flipped', (i.e. Field 1.03 (Reporting Counterparty), Field 1.09 (Counterparty Side), Field 1.11 (Other Counterparty)).

Participants should to speak to their TR or vendor to see if they can accommodate this process. (SFTR-173)