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FAQs on transaction reporting – Question II.2.1.18

Data Field (23)

Inter-period and Inter-product spreads are split into contract and legContract.

Should the ContractType be SP or FW on a bilateral spread?

<INSTRUMENT ID=”713″ FirstSeqID=”68″ FirstSeqItemID=”20″ SecondSeqID=”68″ SecondSeqItemID=”0″>NCG/TTF € H 51.6 D.A</INSTRUMENT>

<contract>

<contractId>8_689_68_20</contractId>

<contractName>NCG_DA</contractName>

<contractType>FW</contractType>

<energyCommodity>NG</energyCommodity>

<settlementMethod>P</settlementMethod>

<organisedMarketPlaceIdentifier>

<lei>549300FR3U1PB1Y6LV13</lei>

</organisedMarketPlaceIdentifier>

<contractTradingHours>

<startTime>00:00:00Z</startTime>

<endTime>23:59:59Z</endTime>

</contractTradingHours>

<lastTradingDateTime>2015-06-12T05:59:59</lastTradingDateTime>

<deliveryPointOrZone>37Y701125MH0000I</deliveryPointOrZone>

<deliveryStartDate>2015-06-12</deliveryStartDate>

<deliveryEndDate>2015-06-13</deliveryEndDate>

<duration>D</duration>

<loadType>GD</loadType>

<deliveryProfile>

<loadDeliveryStartDate>2015-06-12</loadDeliveryStartDate>

<loadDeliveryEndDate>2015-06-13</loadDeliveryEndDate>

<loadDeliveryStartTime>06:00:00</loadDeliveryStartTime>

<loadDeliveryEndTime>06:00:00</loadDeliveryEndTime>

</deliveryProfile>

</contract>

<legContract>

<contract>

<contractId>8_243_68_20</contractId>

<contractName>TTFH516_DA</contractName>

<contractType>FW</contractType>

<energyCommodity>NG</energyCommodity>

<settlementMethod>P</settlementMethod>

<organisedMarketPlaceIdentifier>

<lei>549300FR3U1PB1Y6LV13</lei>

</organisedMarketPlaceIdentifier>

<contractTradingHours>

<startTime>00:00:00Z</startTime>

<endTime>23:59:59Z</endTime>

</contractTradingHours>

<lastTradingDateTime>2015-06-12T05:59:59</lastTradingDateTime>

<deliveryPointOrZone>21YNL—-TTF—1</deliveryPointOrZone>

<deliveryStartDate>2015-06-12</deliveryStartDate>

<deliveryEndDate>2015-06-13</deliveryEndDate>

<duration>D</duration>

<loadType>GD</loadType>

<deliveryProfile>

<loadDeliveryStartDate>2015-06-12</loadDeliveryStartDate>

<loadDeliveryEndDate>2015-06-13</loadDeliveryEndDate>

<loadDeliveryStartTime>06:00:00</loadDeliveryStartTime>

<loadDeliveryEndTime>06:00:00</loadDeliveryEndTime>

</deliveryProfile>

</contract>

The result is two forward trades but this particular order strategy is a spread so I would expect to put SP when inter-period or inter-product spread but this could be interpreted differently since the result is two forward trades.


Answer:

Even if the result is two forward trades, the order placed on the screen is a spread order so we would expect reporting parties to report ‘SP’ when they report inter-period or any other inter-product spreads. These orders should be reported as spark spreads or physical swaps in the same ways as presented in Annex II of the TRUM.

Last update: 08/09/2015   RSS_Icon Subscribe to this Page’s RSS