How do I report Option Exercises?

Each client should make their own determination on what option exercise events are reportable. We have inserted some examples from the CFTC Technical Specifications below. 

Cash Exercise - Entire trade

When the user exercises an option that terminates the trade, the action/event type combination of "TERM-EXER" should be used.

Partial Exercise

When the user exercises an option that does not terminate the trade, as there are other exercisable periods still open, the action/event type combination of "MODI-EXER" should be used and the notional and when applicable quantity should be reduced to reflect the exercised amount.

Exercise - Cancellable Option

When the user exercises an cancellable option that does not terminate the trade, the action/event type combination of "MODI-EXER" should be used and the notional should be reduced to reflect the exercised amount.