Article 5 of the Implementing Regulation and TRUM Section 3.2.10
It has been mentioned at an industry meeting that a lifecycle even that needs to be reported is when the trader for a still active trade leaves the company, or moves to another department, and therefore is no longer responsible for taking decisions or actions in executing or amending the transaction. The suggestion is that in this case a modification to the trade report needs to be made identifying the person who is now responsible for taking decisions or actions in executing or amending the transaction.
John Smith enters into a trade for Summer 2016 Baseload on 17/5/2015.
On 21/10/2015 John Smith leaves the company and is therefore no longer responsible for the trade in any way. Would that need to be reported and if so how?
The trader leaving the market participant does not in itself constitute a lifecycle event.
For further information, please refer to Annex VII to the TRUM.