334. Taking into account the CDE guidance, the option premium payment is not included as a payment type, as premiums for option are reported using the option premium dedicated data element. The allowable values for other payment types are:

a. UFRO = Upfront payment, i.e. the initial payment made by one of the counterparties either to bring a transaction to fair value or for any other reason that may be the cause of an off-market transaction;

b. UWIN = Unwind or Full termination, i.e the final settlement payment made when a transaction is unwound prior to its end date; Payments that may result due to full termination of derivative transaction(s);

c. PEXH = Principal exchange, i.e. exchange of notional values for cross-currency swaps.

335. The information provided in other payment fields is only to be reported for the reportable event to which the payment relates and whether once the payment details have been reported, the values should not persist on all subsequent events reported for that trade.

336. Therefore, if a derivative involves both upfront and unwind payment, the counterparty should report the sequence of payments in subsequent reports, as follows:

Table 20 [view table in PDF]

Q55. Are there any further clarifications needed with regards to the reporting of other payments?