340. The 'Settlement currency' field should be populated for all single currency cash-settled derivatives, as well as those with a specific FX component. The field should not be populated in the case of a physically settled derivative. The 'Settlement currency' field should be specified for each leg of the multicurrency products.

341. An example on the way to report the settlement currency for the two legs of an FX swap has been included in the section 5.4.

342. Counterparties should report the valid currencies as per ISO 4217 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.