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Exchange (EXOF1)

Exchange (EXOF1)

SFTR Report - ETRM / NEWT | Corporate Action Cluster - Return and New Trade | Cash Move - Y

Description

Always initiated by the issuer. Exchange of holdings for other securities and/or cash. The exchange can be either mandatory or voluntary involving the exchange of outstanding securities for different securities and/or cash. For example, "exchange offer", "capital reorganisation" or "funds separation".

Best Practice

When booking an Exchange the original contract of the loan should be terminated, and a new contract posted. (COAC-55)

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