327. The "Settlement currency" field should be populated for all single currency derivatives, as well as those with a specific FX component. The field should be populated as the currency of the underlying to be delivered in the case of a physically settled derivative or the settlement currency, if the derivative is to be cash settled. The "Settlement currency" field should be specified for each leg of the multicurrency products.

328. An example on the way to reports the settlement currency for the two legs of an FX swap has been included in the section 6.4.

329. Counterparties should report the valid currencies as per ISO standard. Currencies which are not covered by ISO standard won't be accepted, therefore the counterparties should report the relevant values in the respective onshore currencies recognized in the ISO standard.

Q53. Are there any further clarifications required with regards to the reporting of settlement currencies?