b) Trades open before outage and close during outage

• Home


• ISLA SFTR Best Practices


• SFTR Best Practice


• Frequently Asked Questions


• Backdated Reporting


• b) Trades open before outage and close during outage

b) Trades open before outage and close during outage

Status: Finalised Last Updated: 15/02/2024

Question:
b) Trades open before outage and close during outage:

1. For OPEN trades that are terminated or matured during the outage downtime, it will be possible to retrospectively terminate them.

2. Terminating open trades is the only action that can retrospectively change Trade State Reports (see Q&A 7(c)).

• Note here you are sending an ETRM on an OPEN trade not a trade that already has a populated maturity date and trying to modify or amend that – see Maturity Date Trades section.

3. To be clear here the ETRM works similarly to the NEWT with no subsequent lifecycle events meaning, you can report an ETRM with an historic ED – Event Date and a current RD – Reporting Date and this will be ACK’d.

• An ETRM can be submitted with a historical event date however it will not appear on the latest TSR as the position wont exist anymore, however it will show up on the reconciliation for 30 days per existing logic.

• Note that the event date on ETRM should be less than or equal to the termination date in order for the submission to be ACK’d.

Best Practice:

(SFTR-829)