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Status: You are viewing the version of the handbook as on 2005-06-30.

SUP 17.6 Transaction reports

Timing of reports

SUP 17.6.1R

A transaction report must be made as soon as practicable and in any event, subject to SUP 17.7.10 (Failure of reporting systems), before the end of the next business day after the day on which the firm entered into the transaction.

Content

SUP 17.6.2R

A transaction report must:

  1. (1)

    in the case of an investment management firm, include the details set out in SUP 17.6.4, except that it need not provide the details in the column headed 'Counterparty' if the counterparty is not an ISD investment firm; or

  2. (2)

    in the case of a personal investment firm, include the details set out in SUP 17.6.4; or

  3. (3)

    in the case of any other firm, include all the fields identified in SUP 17 Annex 2 for the relevant reporting system.

SUP 17.6.3G

SUP 15.6 applies to transaction reports and requires a firm to take reasonable steps to ensure that information provided to the FSA is accurate.

SUP 17.6.4R

Details to be reported (investment management firms and personal investment firms) (see SUP 17.6.2)

Firm

Counterparty

Investment

Transaction

Name

Name

Description

Time of transaction

Address

Address

Quantity/size

Date of transaction

Whether agent or principal

Unit price

Whether purchase or sale

Total amount of consideration payable on settlement date

SUP 17.6.5E
  1. (1)

    A firm subject to SUP 17.6.2 (3) should ensure that a transaction report is accepted by the relevant reporting system.

  2. (2)

    Contravention of (1) may be relied on as tending to establish contravention of SUP 17.4.1.

SUP 17.6.6R

The price reported in a transaction report must be the transaction price, excluding any charges or commission which is shown separately on the contract note or on any similar notification.

Basket trades

SUP 17.6.7R

If a firm (other than an investment management firm or a personal investment firm) effects a series of transactions within a 24 hour period which is an exact replica of any of the following indices (known as a 'basket trade'), it may report them as a single transaction under a single approved security code:

  1. (1)

    CAC 40; or

  2. (2)

    DAX 30; or

  3. (3)

    LSE/Nikkei 50; or

  4. (4)

    Nikkei 225; or

  5. (5)

    Standard and Poors 500; or

  6. (6)

    TOPIX.

SUP 17.6.8G

The 'single approved security code' referred to in SUP 17.6.7 and SUP 17.6.9 is the code issued by the relevant exchange or numbering agency.

SUP 17.6.9R

If a firm (other than an investment management firm or a personal investment firm) effects a series of transactions within a 24 hour period which does not exactly replicate one of the indices listed in SUP 17.6.7, it may make a transaction report for them showing:

  1. (1)

    a single basket trade transaction under a single approved security code; and

  2. (2)

    the missing constituents of the relevant index, as reverse trades, with the price and quantity set according to their weighting in the index.

SUP 17.6.10G

A firm which effects a series of transactions to which SUP 17.6.9 applies may report them as individual transactions, rather than under that rule.