IssuerName and Government Bonds - Property Use in SSR Bonds Rules
IssuerName is an Issuer Property which reflects the name of the instrument issuer. In most cases, IssuerName will not affect the calculation of rules. For the SSR Bonds Rules IssuerName does affect the calculation. It is important that for any instruments that are in scope for the Short Selling EU Bonds Rules the IssuerName is specified exactly to match the ESMA list of sovereign bond issuers, or, for SSR Bonds UK, as “United Kingdom”.
What this means for non-Adapptr Users
For clients who provide the XML file directly, IssuerName could be provided by linking it to a Bloomberg or Refinitiv mnemonic. These fields don’t necessarily match the ESMA list (or UK). We ask clients who provide the XML directly to map IssuerName to the Issuer Names listed.
What this means for Adapptr Users
For Adapptr users IssuerName will be generated by Adapptr pulling the relevant field from either Bloomberg or Refinitiv - depending on the set-up. These fields don’t necessarily match the ESMA list (or UK). Adapptr users will need to put in an override linked to the IssuerId in order to correct the IssuerName.
See example below.
- Listed IssuerName without override in place. This asset will currently not fall in scope for the SSR EU Bonds rules.
- Proposed override; Enable always, when IssuerName is "GERMANY, FEDERAL REPUBLIC OF (GOVERNMENT)", set IssuerName to “Germany”
- Corrected IssuerName. The asset will now fall in scope for SSR EU Bonds rules.
For more information on PercentEUDebtOutstanding and TotalDebtOutstanding please see article here.