169. Each conclusion of a derivative should be reported to a TR. If a derivative that is concluded is subsequently terminated, then the counterparties or ERR, as applicable, after reporting it with action type 'New' should report it with action type 'Terminate'.

170. Counterparties should report the conclusion of a derivative even if the termination of that derivative occurs before the reporting deadline (e.g. for intraday derivatives). In such case the counterparty should send, within the same reporting deadline, two reports: one with action type 'New' and one with action type 'Terminate'. If the derivative is terminated on the same day due to inclusion in a position, the counterparty should send only one report for that derivative, with action type 'Position component'.

171. If the original derivative was included in a position and thus reported with the action type 'Position Component', and is subsequently terminated, the counterparties should not send a report with action type 'Terminate' for the original derivative, however the counterparties should send a report with action type 'Modification' for the position in which the original derivative was included in order to remove this derivative from the position.