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Execution Timestamp

Execution Timestamp

Description

- All new trades will require a NEWT message to be sent which includes an execution timestamp.

- The execution timestamp must be matched to within an hour.- Currently, CA bookings are booked as and when operational teams are processing them. This is often donemanually and in isolation between counterparties.

- There is no official execution time for a CA booking, because it is merely a downstream effect of an event and not a new 'trade' - however these effects are reported as trades to the TR.

Best Practice

- All CA bookings should have the Execution Timestamp field (2.12) populated as follows:
i) Where the data provision to borrowers is provided by undisclosed agent lenders, the Execution Timestamp (2.12) should be aligned to that provided by the agent lender or,
ii) Where no explicit bi-lateral agreement exists (which might otherwise indicate the provider of the execution timestamp for corporate action bookings), the timestamp should be standardised, with the "Time" part equal to 01:01:01 and the "Date" part equal to the Pay date of the event.

- The Execution Timestamp should be dated with the Pay date of the event. Example: (Click here to view) (COAC-124)

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