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General FpML Discussion Regulatory Reporting Questions partyTradeInformation for Trade Source "SEF"

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  • #11079
    jskelly
    Spectator

    Hi,
    I am looking for guidance on what partyTradeInformation blocks to include under Trade Source when a SEF is acting as the Trade Source. These are my specific questions, but if there are guidelines published anywhere that cover these questions, please refer me to the documentation.
    1. Does the SDR need to be cited in the Trade Source block? If so, should it be cited generically or specifically for each party (TradeRepositorySEF, TradeRepositoryPartyA and TradeRepositoryPartyB) or only for the SEF or only for the reporting party?
    2. Similarly, does SDR need to be cited in the partyA and partyB blocks or only in the reporting party block?
    3. If trade is arranged by an introducing broker, should the ArrangingBroker be cited in the Trade Source block? If so, should it be cited by both parties (ArrangingBrokerPartyA and ArrangingBrokerPartyB)?
    4. If a counterparty to the trade uses a clearing firm, should the clearing firm be cited in the Trade Source block?
    Kind Regards,
    Joseph

    • This topic was modified 6 years, 4 months ago by jskelly.
    #12739
    lyteck
    Keymaster

    Hi Joseph, my sincere apologies for the unacceptable delay in replying to your query. Please find some answers:

    1. The trade source is the originator of the information about the trade. The SDR will not normally be cited in that block.

    2. Each party typically reports the information known from their own perspective (as reporting party). If the other party’s information is known it could be included in a second partyTradeInformation.

    3. Each party typically reports the information know from their own perspective (as reporting party). If the other party’s information is known it could be included in a second partyTradeInformation.

    <partyTradeInformation>
    <partyReference href=”party1″/>
    <relatedParty>
    <partyReference href=”arrangingBrokerA”/>
    <role>ArrangingBroker</role>
    </relatedParty>
    </partyTradeInformation>
    <partyTradeInformation>
    <partyReference href=”party2″/>
    <relatedParty>
    <partyReference href=”arrangingBrokerB”/>
    <role>ArrangingBroker</role>
    </relatedParty>
    </partyTradeInformation>

    4. It would be specified in the appropriate partyTradeInformation block for the party in question

    The syntax with multiple related parties for a given party would look like:


    <trade>
    <tradeHeader>
    <partyTradeIdentifier>
    <!– UTI –>
    </partyTradeIdentifier>
    <partyTradeInformation>
    <partyReference href=”party1″/>
    <relatedParty>
    <partyReference href=”clearing-firm”/>
    <role>ClearingFirm</role>
    </relatedParty>
    <relatedParty>
    <partyReference href=”broker”/>
    <role>ArrangingBroker</role>
    </relatedParty>
    <relatedParty>
    <partyReference href=”venue”/>
    <role>ExecutionFacility</role>
    <relatedParty>
    <relatedParty>
    <partyReference href=”tr”/>
    <role>TradeRepository</role>
    </relatedParty>

    </trade>

    <party id=”party1″>
    <partyId partyIdScheme=”http://www.fpml.org/coding-scheme/external/iso17442″>5493001RKR55V4X61F71</partyId>
    </party>
    <party id=”venue”>
    <partyId partyIdScheme=”http://www.fpml.org/coding-scheme/external/iso17442″>549300IB5Q45JGNPND11</partyId&gt;
    <!– unique counterparty identifier of Platform/Execution Facility –>
    <partyName>SEFCo LLC</partyName>
    </party>

    Hope this helps and again sorry for the delay. If you have any more questions please revert back and we’ll make sure they are answered in a timely fashion.

    Regards,
    Lyteck / The FpML Team

    • This reply was modified 5 years, 8 months ago by lyteck.
    • This reply was modified 5 years, 8 months ago by lyteck.
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