TR Question 11: Frequency of reports [last update 8 July 2020]
Article 9 - Frequency of reports
(a) If a counterparty does not enter into any new derivative transaction during several days, is it required to report the already concluded transactions every day to the TR?
(b) How should a "working day" be defined for the purpose of determining the deadline for reporting? How the counterparties should proceed if they follow different calendars or are located in different timezones?
(c) Should transactions executed during the same day that are netted or terminated for other reasons, be reported to TRs?
TR Answer 11
(a) Where no contracts are concluded, modified or terminated no reports are expected apart from up-dates to valuations or collateral as required. As the obligation to report shall be complied with at T+1 (T being the date of conclusion/modification/termination of the contract), there is no other need to send daily reports if there are no conclusion, modifications to the contract or termination.