Best Practice: Reporting Unwinds and Novations as New Trades

Best practice to remedy Swap Dealer (SD) trade bookings and reporting by the relevant Reporting Counterparty under the CFTC’s P43 and P45 rules for edge cases, where a client executes a new trade either on or off-facility, and then advises the SD that the trade is actually an unwind or novation of a pre-existing bilateral trade and requests that the SD remedy in accordance with their intention.

Documents (1) for Best Practice: Reporting Unwinds and Novations as New Trades