ETRM Action post a Current Event Date and Reporting Date MODI:

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Status: Best Practice Finalised, Last Updated: 15/02/2024

Question:
ETRM Action post a Current Event Date and Reporting Date MODI:

***Please be aware this is more of an operational work around. Ensure you check in with the appropriate personnel or compliance team to verify your comfort with this approach. Objective is to reflect the correct audit trail****
1. See diagrams for visual on how to report a NEWT (pre or post outage), historical MODI, a current MODI and an ETRM
2. The main point here to be aware of is if post a NEWT you do a Historical MODI then a Current MODI, then an ETRM, the ETRM although reported with a historic event date and current reporting date will pick up the latest picture from the current MODI, remove this from the trade state report and place this current picture onto the 30-day reconciliation report.
Note: A position is reconciled throughout its life span, which is in this case the current MODI as it is the latest position reflected in TSR, it will further appear in recon report for 30 days after it has been terminated.
3. If you do not perform the current MODI in this sequence of events and your cpty does you could pair but you will not match and thus reconcile, this is why guidance is being given to check in with the right personnel.

Best Practice:
(SFTR-836)