Reporting Counterparty

Field 1.03 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No>

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

Field 1.03 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Unique code identifying the reporting counterparty

Best Practice:
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

In addition, for message template "ETRM", the status of the LEI could also be either:

• Lapsed

• Retired

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

Therefore, when trading a position 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; in all models the reporting counterparty LEI reported in this field and the beneficiary to the contract is reported in Beneficiary (Field 1.13) and are always the same. (SFTR-5)