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d) Trades open during the outage and remain open after the outage:

d) Trades open during the outage and remain open after the outage:


Status: Best Practice Finalised, Last Updated: 15/02/2024
d) Trades open during the outage and remain open after the outage:

1. As best practice when submitting any back reporting agree the Reporting Date bilaterally with your cpty so T or T+1. Trades not sent at the same time and date will not pair and match, not hit the TSR or be presented for reconciliation.
2. "Stop the bleed”…replay new messages when new trades were booked during the outage.
3. If both cptys on both sides of the trade send the NEWT reports on the same day say T or T+1, then this should be ACKNOWLEDGED pair, match, and update the current trade state report. This would be a historic event date with a current reporting date on a NEWT.
4. If lifecycles can be replayed, they would have historic ED - Event Dates with a current RD - Reporting Date and would hit the TAR - trade activity report only which can only get to the pairing stage (pairing both cptys to one UTI) unless it's an orphan trade hence one sided due to other cpty not reporting or other cpty in a different regime i.e. FCA vs. ESMA.
5. Where lifecycle events cannot be replayed for some reason then a MODI or CORR current ED - Event Date is required with a current RD - Reporting Date to update the TSR report and trigger the pairing & matching process and be presented for reconciliation.
6. In short: Standalone NEWT with historical event date will ACK and will be included on the TSR, TAR and Reconciliation, any subsequent MODI must follow the T+1 logic to appear on TSR.

Best Practice:


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