Counterparties should ensure certain levels of operational information are discussed and shared before beginning to transact with each other.
The following list represents an indicative grouping of data points which should be exchanged between new trading counterparts. It is recommended that notification procedures be arranged to ensure data is current.
• Governing E.g. legal documentation
• Collateral - E.g. schedule, type, margin, currency
• Markets to be traded - E.g. dividend rates, SSIs
• Billing - E.g. frequency, CCY, SSIs, margin
• Vendor platform functionality - E.g contract compare, billing, returns, marks
• Marking - E.g. frequency, rounding
• Returns - E.g. return restrictions, cut-off times
Please note that vendor solutions support many counterpart data points (above) and that trade parties should make others aware when these are use.
(IBP-110 UNDER ISLA REVIEW)
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