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Version date: 8 July 2021 - onwards

5.6.3 Action types and event types combinations

Closed
30 September 2021

116. Counterparties should report, where applicable, the relevant 'Event Type', as specified in the field 152 of Table 2 in the [RTS]:

a. Trade: Conclusion of a derivative or renegotiation of its terms that does not result in change of a counterparty

b. Step-in [The term 'Step-in' is used as novation may refer also to updates to the terms of the trade that do not transfer the derivative to a different counterparty.]: An event, where part or entirety of the derivative is transferred to a counterparty 2 (and reported as a new derivative) and the existing derivative is either terminated or its notional is modified.

c. PTRR: Post-trade risk reduction exercise

d. Early termination: Termination of a derivative, at a trade or position level

e. Clearing: Clearing as defined in Article 2(3) of Regulation (EU) No 648/2012

f. Exercise: The exercise of an option or a swaption by one counterparty of the transaction, fully or partially.

g. Allocation: Allocation event, where an existing derivative is allocated to different counterparties and reported as new derivatives with reduced notional amounts.

h. Credit event: Applies only to credit derivatives. A credit event that results in a modification of a derivative, at a trade or position level