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FAQs on transaction reporting – Question II.1.1.3

We have a query regarding the reporting of give up trades.

The question is whether we need to report the original executing counterpart for these trades. We ask as these trades are given up almost instantly so we do not always record the original counterpart (as they are not our counterpart for risk management purposes etc.).


Answer:

The Agency understands that the question above refers to members of the exchanges that give up their trades. In this case the Agency believes that members of the exchanges that give up their trades are REMIT market participants and they should report their trades. They can do it in two ways:

  • reporting two trade reports: one transaction executed on the exchange and one transaction as a back-to-back trade with their client; or
  • reporting one trade report: one trade report which includes their client information in the Beneficiary ID field (8) if the client is a REMIT market participant.

 

Last update: 16/11/2015   RSS_Icon Subscribe to this Page’s RSS