54. The reporting at position level is applicable to CCP-cleared SFTs and is optional and complementary to the transaction-level reporting. Reports at position level can be submitted when certain conditions are met [Please refer to Paragraph 84 of the CP on Guidelines on reporting under SFTR].
a. The legal arrangement is such that the risk is at position level, the trade reports all relate to products that are fungible with each other, and the individual trades have been replaced by the position. This is the case when novation takes place after netting of individual trades, the netted position results in a new contract, and a new UTI is generated for it. This could be the case, for example, between a clearing member and a CCP.
b. The original trades, i.e. at transaction level, have been correctly reported. It is not permissible to report only positions.
c. Other events that affect the common fields in the report of the position are separately reported.
d. The original trade reports (po
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