Stipulations

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Imported from previous forum

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[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
From raj.t.patel@hsbcgroup.com:

Following on from a discussion with Dean Kuffman on bargain conditions,

Can The Stipulation group be added to the Trade Capture report and a new stipulation type be added to the list of valid type (‘BRGCON’) for this field (tag 233) to allow bargain conditions to be part of the message.

Some Information for this request

We have been looking at the use of the Trade Capture Report to report Bond trades with bargain conditions. There is no specific field available but after talking to Dan Kauffman the Stipulations structure was added to the trade capture report (not previously there) enabling us to publish trades with bargain conditions.
The Bargain Conditions are recognised by the London Stock Exchange codes and include the following valid values;
‘CD’ Special cum Dividend
’XD’ Special ex Dividend
’CC’ Special cum Coupon
’XC’ Special ex Coupon
’CB’ Special cum Bonus
’XB’ Special ex Bonus
’CR’ Special cum Rights
’XR’ Special ex Rights
’CP’ Special cum Capital Repayments
’CS’ Cash Settlement
’SP’ Special Price
’TR’ Report for European Equity Market Securities in
accordance with Chapter 8 of the Rules.
‘GD’ Guaranteed Delivery
’XP’ Special ex Capital Repayments

We added the stipulations group and defined a new Stipulation type =‘BGNCON’ for Bargain Conditions’ allowing us to publish the information in the Trade Capture Report.

Thanks & Regards,
Raj T Patel

PS Please see the General Q/A discussion under the subject ‘Bargain conditions’ for more information on this request or please contact me.

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[ original email was from Dean Kauffman - dean.kauffman@tradeweb.com ]
Raj,
I’ve captured this in the new FIX 4.4 Changes discussions. The issue of stipulations has taken on some importance in our ISOXML 15022 work too - your suggestion is the first instance of stips intended for 3rd-party reporting. I will forward your list to SWIFT for inclusion in the 15022 enumeration.
Dean

> From raj.t.patel@hsbcgroup.com:
>
> Following on from a discussion with Dean Kuffman on bargain conditions,
>
> Can The Stipulation group be added to the Trade Capture report and a new stipulation type be added to the list of valid type (‘BRGCON’) for this field (tag 233) to allow bargain conditions to be part of the message.
>
> Some Information for this request
>
> We have been looking at the use of the Trade Capture Report to report Bond trades with bargain conditions. There is no specific field available but after talking to Dean Kauffman the Stipulations structure was added to the trade capture report (not previously there) enabling us to publish trades with bargain conditions.
> The Bargain Conditions are recognised by the London Stock Exchange codes and include the following valid values;
> ‘CD’ Special cum Dividend
> ‘XD’ Special ex Dividend
> ‘CC’ Special cum Coupon
> ‘XC’ Special ex Coupon
> ‘CB’ Special cum Bonus
> ‘XB’ Special ex Bonus
> ‘CR’ Special cum Rights
> ‘XR’ Special ex Rights
> ‘CP’ Special cum Capital Repayments
> ‘CS’ Cash Settlement
> ‘SP’ Special Price
> ‘TR’ Report for European Equity Market Securities in
> accordance with Chapter 8 of the Rules.
> ‘GD’ Guaranteed Delivery
> ‘XP’ Special ex Capital Repayments
>
> We added the stipulations group and defined a new Stipulation type =‘BGNCON’ for Bargain Conditions’ allowing us to publish the information in the Trade Capture Report.
>
>
> Thanks & Regards,
> Raj T Patel
>
> PS Please see the General Q/A discussion under the subject ‘Bargain conditions’ for more information on this request or please contact me.
>
>