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).

Automatically correct the name with Adapptr - "OverrideIssuerName”

Clients can switch on an optional (and free) functionality which corrects the IssuerName returned by Bloomberg or Refinitiv to match the ESMA list. This can be enabled by FundApps at a client’s request.

Please note ; in the cases when we do not have a mapping for a given bond, we will return  the original value provided by the data provider. 

Manual Overrides

If you do not wish to use the OverrideIssuerName function, you can set-up your own overrides manually. For the null values returned whilst using the automatic mappings by FundApps, you can set up an override linked to IssuerId.

Manual Blanket overrides

  1. Listed IssuerName without override in place. This asset will currently not fall in scope for the SSR EU Bonds rules. 

  1. Proposed override; Enable always, when IssuerName is "GERMANY, FEDERAL REPUBLIC OF (GOVERNMENT)", set IssuerName to “Germany”

  1. Corrected IssuerName. The asset will now fall in scope for SSR EU Bonds rules. 

Manual Overrides for Null Values

In the example below the IssuerName for the IssuerId of Belgium will be overwritten with the correct IssuerName

1. When IssuerId = IssuerId_Example_Belgium, and IssuerName = Empty or Missing

3. Set IssuerName = Belgium

 

For more information on PercentEUDebtOutstanding and TotalDebtOutstanding please see article here.

Was this article helpful?
0 out of 0 found this helpful
Share article