Requirements for Reporting Conditional/Optional Fields

>

Status: Best Practice Finalised, Last Updated: 28/09/2021

Question:
How should conditional and optional fields, as outlined within the validation rules, be interpreted?

Best Practice:
The population requirement of each validation type is outlined below as in the 'general information' tab of the SFTR validation rules for both EU and UK SFTR.

• 'M' - mandatory: the field is strictly required and validations of format and content are applied.

• 'C' - conditionally mandatory: Conditionally mandatory: the field is required if the specific conditions set out in the validation rules are met. If these conditions are not met, the field can be populated on an optional basis, unless clearly indicated that ""Otherwise, the field shall be left blank"". Format and content validations are applied

• 'O' - optional: the field shall be populated if applicable. Only format and content validations are applied when the field is populated.

• '-' - not applicable: the field shall be left blank

Where the information is pertaining to a field is known for conditional fields where the condition is not met and optional fields should be populated. This is important for reconciliations purposes. (SFTR-454)