NSD’s trade repository messages specifications

Current specification

TradeNovationContent

A structure describing a novation.

FieldTypeDescriptionPrint form titleFFSM titlePropertiesConditions
eventIdentifierBusinessEventI​dentifierIndividual parties should only use a single event identifier to identify a retraction. Platforms providing services on behalf of both parties in a transaction may provide event identifiers for both parties; in this case it is up to the recipient (the trade repository) to validate that the event IDs refer to the same event. Business event identifier.0-∞, ncfThis is not used in messages to the repository.
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newTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the new trade between the transferee and the remaining party.1-∞, mre
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newTradeTradeIndicates the new trade between the transferee and the remaining party.1-1, mre
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oldTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the original trade between the transferor and the remaining party. 1-∞, mre
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oldTradeTradeIndicates the original trade between the transferor and the remaining party.1-1, mre
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feeTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the implied trade (the "fee trade") that the associated novation fee based on. This is equivalent to the new trade that is created by the novation (between the transferee and the remaining party), but is between the transferor and the transferee. 1-1, mre
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feeTradeTradeIndicates the implied trade (the "fee trade") that the associated novation fee based on, between the transferor and the transferee. 1-1, mre
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newTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the new trade between the transferee and the remaining party.1-∞, mre
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newTradeTradeIndicates the new trade between the transferee and the remaining party.1-1, mre
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feeTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the implied trade (the "fee trade") that the associated novation fee based on. This is equivalent to the new trade that is created by the novation (between the transferee and the remaining party), but is between the transferor and the transferee. 1-1, mre
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feeTradeTradeIndicates the implied trade (the "fee trade") that the associated novation fee based on, between the transferor and the transferee. 1-1, mre
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newTradeIdenti​fierPartyTradeIden​tifierIndicates a reference to the new trade between the transferee and the remaining party.1-∞, mre
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newTradeTradeIndicates the new trade between the transferee and the remaining party.1-1, mre
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transferorPartyReferenceA pointer style reference to a party identifier defined elsewhere in the document. In a three-way novation the party referenced is the Transferor (outgoing party) in the novation. The Transferor means a party which transfers by novation to a Transferee all of its rights, liabilities, duties and obligations with respect to a Remaining Party. In a four-way novation the party referenced is Transferor 1 which transfers by novation to Transferee 1 all of its rights, liabilities, duties and obligations with respect to Transferor 2. ISDA 2004 Novation Term: Transferor (three-way novation) or Transferor 1 (four-way novation). 0-1, mre
transferorAcco​untAccountReferen​ce0-1
transfereePartyReferenceA pointer style reference to a party identifier defined elsewhere in the document. In a three-way novation the party referenced is the Transferee (incoming party) in the novation. Transferee means a party which accepts by way of novation all rights, liabilities, duties and obligations of a Transferor with respect to a Remaining Party. In a four-way novation the party referenced is Transferee 1 which accepts by way of novation the rights, liabilities, duties and obligations of Transferor 1. ISDA 2004 Novation Term: Transferee (three-way novation) or Transferee 1 (four-way novation). 0-1, mre
otherTransfereePartyReferenceA pointer style reference to a party identifier defined elsewhere in the document. In a five-way novation the party referenced is the Transferee's legal entity that is involved in the settlement of the fee leg of the novation transaction (this might be a different legal entity than the one that assumes the novation trade). NB: this element has been added pending confirmation of the business need/context in which it would be used, and might not appear in a subsequent draft of this schema. 0-1
transfereeAcco​untAccountReferen​ce0-1
otherTransfere​eAccountAccountReferen​ce0-1
remainingPartyPartyReferenceA pointer style reference to a party identifier defined elsewhere in the document. In a three-way novation the party referenced is the Remaining Party in the novation. Remaining Party means a party which consents to a Transferor's transfer by novation and the acceptance thereof by the Transferee of all of the Transferor's rights, liabilities, duties and obligations with respect to such Remaining Party under and with respect of the Novated Amount of a transaction. In a four-way novation the party referenced is Transferor 2 per the ISDA definition and acts in the role of a Transferor. Transferor 2 transfers by novation to Transferee 2 all of its rights, liabilities, duties and obligations with respect to Transferor 1. ISDA 2004 Novation Term: Remaining Party (three-way novation) or Transferor 2 (four-way novation). 0-1, mre
remainingParty​AccountAccountReferen​ce0-1
otherRemaining​PartyPartyReferenceA pointer style reference to a party identifier defined elsewhere in the document. This element is not applicable in a three-way novation and should be omitted. In a four-way novation the party referenced is Transferee 2. Transferee 2 means a party which accepts by way of novation the rights, liabilities, duties and obligations of Transferor 2. ISDA 2004 Novation Term: Transferee 2 (four-way novation). 0-1
otherRemaining​PartyAccountAccountReferen​ce0-1
novationDatexsd:dateSpecifies the date that one party's legal obligations with regard to a trade are transferred to another party. It corresponds to the Novation Date section of the 2004 ISDA Novation Definitions, section 1.16. 0-1, mre
executionDateT​imeExecutionDateT​imeThe date and time at which the change was agreed.0-1
novationTradeD​atexsd:dateSpecifies the date the parties agree to assign or novate a Contract. If this element is not specified, the novationContractDate will be deemed to be the novationDate. It corresponds to the Novation Trade Date section of the 2004 ISDA Novation Definitions, section 1.17. 0-1
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novatedAmountMoneyThe amount which represents the portion of the Old Contract being novated.1-∞, mre
remainingAmountMoney0-∞
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novatedNumberO​fOptionsxsd:decimal1-1, mre
remainingNumbe​rOfOptionsxsd:decimal0-1
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novatedNumberO​fUnitsxsd:decimal1-1, mre
remainingNumbe​rOfUnitsxsd:decimal0-1
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fullFirstCalcu​lationPeriodxsd:boolean0-1
firstPeriodSta​rtDateFirstPeriodSta​rtDate0-2
nonRelianceEmpty0-1
creditDerivati​vesNoticesCreditDerivati​vesNotices0-1
contractualDef​initionsContractualDef​initions0-∞
contractualTer​msSupplementContractualTer​msSupplement0-∞
paymentPaymentDescribes a payment made in settlement of the novation.0-1
TradeNovationContent