Specific Requirements for Returns
Where there are specific requirements in place to process/book/accept returns, these requirements should be bilaterally agreed and documented between the market participants prior to trade booking and implementation. It is recommended that counterparties ensure there are no reconciliation or contract differences on a position prior to a return being booked on settled. Booking and settling returns on a position that is not fully reconciled and agreed by both market participants is likely to create further processing issues at a later stage in the trade life-cycle for example billing. (IBP-135 AGREED IN 2017)
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