CSD Participant or Indirect Participant

Field 1.17 | Matching Date: n/a | Tolerance: n/a | Agent Lender Data Provision: No>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 1.17 | Matching Date: n/a | Tolerance: n/a | Agent Lender Data Provision: No

Description:
The unique code of the - CSD participant or indirect participant of the reporting counterparty In the case where both CSD participant and indirect participant are involved in the transaction, the indirect participant shall be identified in this field. This field is not applicable for commodities.

Best Practice:
For securities lending and borrowing SFTs, counterparties should mandatorily populate this field. It is flagged as optional, as it is not required for margin lending or commodities.

This field should be reported even if the SFT settles outside of a CSD. ESMA expects that the reporting counterparty should report this field using the following logic:

• Report its own LEI if it is settling directly at any CSD, i.e. it is a CSD participant;

• Report its own LEI if it is settling securities at any of the two ICSDs even where the ICSD is not the issuer CSD, i.e. it the counterparty is an ICSD participant;

• Report the LEI of its custodian bank irrespective of whether the custodian is using any sub-custodian or not. This includes scenarios when a counterparty uses an Agent Lender.

The counterparty should not report the LEI of the CSD in which they are either direct or indirect participants in the "CSD Participant" field.

Therefore, the population logic is as follows:

1) Principal Model - Equal to Field 1.13 (Beneficiary)
2) Agency Model - Equal to Field 1.18 (Agent Lender)

Where used, this field shall contain a valid LEI recognised by GLEIF. The LEI shall pertain to a legal entity and not a branch.

The status of the LEI for all message templates, can be either:

• Issued

• Lapsed

• Pending Transfer

• Pending Archival (SFTR-19)