Questions and answers for SELMA reporting

Deadlines and submission

When is the deadline for submitting reports?

Reporting of the daily turnover (trade date by trade date) must be sent to the Riksbank no later than the first business day after the reporting period, by 23:59.

Will we receive an acknowledgement or confirmation when a report is submitted?

Yes. An automatic email will be sent as soon as the reporting file has been received. The email confirms receipt and indicates whether the file passed basic validation and was accepted or rejected. The confirmation will be sent to your predefined inboxes in accordance with the document “Exchange specifications for SELMA reporting”. A copy of this email will be provided during testing.

Why can trades executed on Swedish holidays not be reported?

SELMA data is stored in a time series database based on Swedish business days, which cannot handle data for Swedish holidays.

Should reporting be based on trade date or booking date?

Reporting is always based on the trade date, regardless of when the trade is booked in the system.

File handling and revisions

Are we required to store sent reporting files?

No, this is not mandatory. However, after receiving your files, the Riksbank performs manual quality checks in addition to automatic format validation. You may therefore be contacted regarding file contents, usually the day after reporting but potentially later. It is up to the reporting institution whether to store files or be able to recreate them if needed.

Can a revised reporting file have the same name as the original file?

Yes, except for the timestamp. The timestamp must differ in order to avoid duplicate file names.

If revisions concern several trade dates, can they be reported in one file?

Yes. Revisions for multiple days may be included in the same reporting file. The days do not need to be consecutive.

Do we need to resend the full reporting period if a correction is required?

No. In the event of a correction, a full resubmission must be made for the relevant business day. This means that all transactions for that day must be submitted again, not only the transaction or transactions that have been corrected (see page 1 in SELMA - Reporting routines).

How should late or cancelled trades be handled?

Reporting and revisions are always done on a trade date basis. If a trade is booked late or cancelled after initial reporting, it should be reflected by revising the statistics for the relevant trade date.

Units and product classifications

In what units should amounts be reported?

All amounts must be reported in millions of SEK.

Does reporting in millions of SEK apply to all product types, including forwards?

Yes. The reporting unit of millions of SEK applies to all product types.

How should rounding be applied?

Amounts should be rounded to the nearest million. For example, 3.4 million is rounded to 3, while 3.5 million is rounded up to 4.

Should settlement FX be included in reported amounts?

No. Reporting should be done in principal amount (nominal or notional) in millions of SEK only. See page 1 in Statistical definitions for the fixed income market (FI) for more information.

Are trades with the Riksbank reportable?

Yes.

• Purchases of Riksbank Certificates from the Riksbank are reported as primary market trades.
• Secondary market trading in Riksbank Certificates is reported under the relevant secondary market category.
• Buying or selling instruments to or from the Riksbank is reported as a trade with the Riksbank.

How should Nasdaq-cleared forwards be reported? Are these futures?

Nasdaq-cleared forwards must be reported as forwards, regardless of whether they are centrally cleared or not. They must not be reported as futures, even if settlement occurs earlier than t+11.

Definition of a forward

A forward refers to a transaction that is settled later than 10 business days from the trade date, that is, t+11 or later.

Should the delivery of the underlying asset at futures maturity be reported separately?

No. Only the futures contract (Contract = “FO”) should be reported in SELMA. The delivery of the underlying asset at maturity is part of the settlement process and must not be reported as a separate spot transaction.