Document ID: chunk:federal_register_of_legislation:F2024C01137:reg:14
Version: federal_register_of_legislation:F2024C01137
Segment Type: reg
Provision Reference: reg 14
Character Range: 91288–94357

14                                                                         Direction 1                                      An indicator of whether the Reporting Entity is the buyer or the seller at the time the Reportable Transaction is entered into.                                                                                                                                                                                                                                                                                                          As specified in the applicable paragraph of column 5 of this item.                                                                                                           1.      BYER—if the Reporting Entity is the buyer; or
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  2.      SLLR—if the Reporting Entity is the seller.
                                                                                                                            This data element is required for OTC Derivatives:
                                                                                                                               1.      where, other than for foreign exchange derivatives, the UPI that is reported is for an instrument type that is a forward;
                                                                                                                               2.      that are options, contracts for difference (other than foreign exchange contracts for difference) or credit default swaps;
                                                                                                                               3.      where the underlier to the OTC Derivative is a measure of variance, volatility, correlation, dividend or other attribute of an underlier (other than its price) which may vary in value; or
                                                                                                                               4.      a value is not reported for Direction 2—Leg 1 (item 15 below) or Direction 2—Leg 2 (item 16 below).
                                                                                                                            This data element is not applicable to Reportable Transactions for which a value for Direction 2—Leg 1 (item 15 below) is required to be reported.