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Background documentationExternal Trade ID and Interim Trade ID

 

External Trade ID

For notifications to the trade repository, a transaction needs to have an external trade ID. This external trade ID needs to be agreed upon by the counterparties and it must identify the transaction uniquely.

The external trade ID is stored in the financial transaction data on the Administration tab for a specific legal basis.

You use the BAdI FTR_TR_DEFAULT_TRADE_ID BAdI: Default Value for External Trade ID in Financial Transactions to determine external trade IDs when creating a financial transaction.

See also:

The external trade ID is one of the mandatory fields for a TARO.

Note Note

  • For foreign exchange transactions that are relevant for trade repository reporting, you can also use the Correspondence Framework to obtain the external trade ID from the counterconfirmation notification (MT300) received from your counterparty. (The prerequisite for this is that, in the Customizing activity "Assign Attributes for Business Partner Groups", the Get Values from Counterconfirmation indicator is set for the business partner group in the Inbound Correspondence area.)

  • Validation of the External Trade ID

    It may be that rules are set in a legal basis (for example, EMIR) to which the external trade ID must correspond.

    If in Customizing, underDefine Legal Basis, you specify a Start Date for Validation, then when you enter an external trade ID, the system offers the following functions from this date:

    • Create and edit financial transactions (transactions FTR_CREATE and FTR_EDIT) or the corresponding BAPIs

    • Update transactions with an external trade ID (transaction FTR_TARO_TRADE_ID)

    • Import MT300 SWIFT messages (transaction FTR_IMPORT and FTR_SWIFT_IMPORT)

    • Manual entry of correspondence objects (transaction FTR_COCREATE)

    • Accept clearing (transaction TREA_CLEAR)

    • Change counterparty of financial transaction (transaction TRTM_CHG_PARTNER)

    Validate entered external trade ID To do this, the BAdI BADI_TLR_TRADE_ID_CHECK Legal-Base-Specific Checks for Trade ID is called. For this BAdI, a standard delivery is provided, which performs the following checks:

    • The external trade ID can contain only numbers, letters, and the following special characters:

      • Colon

      • Period

      • Minus

      • Underscore

    • The special characters must not be at the start or the end of an external trade ID.

    • An external trade ID can only be used once; even if the associated trade was deregistered from the trade repository, this external trade ID cannot be reused.

    The BAdI issues the following messages:

    • Message class FTR_GUI, no. 574 External trade ID &1 not valid. Observe validation rules for &2

    • Message class FTR_GUI, no. 575 External trade ID &1 already registered. No longer usable

    In Customizing, under Change Message Control, you can control whether the messages are to be issued as warnings (default setting) or as error mesages.

    If you set the messages as error messages, the entry process is stopped in the event of an external trade ID with errors.

    Note Note

    Exception: When importing SWIFT message MT300, the assignment of the imported messages is not halted, but the external trade ID is not assigned to the trade. Without an external trade ID, the associated trade repository object is created incompletely and cannot be set. In this case, you must correct the external trade ID later.

    End of the note.

    If you set the messages as warnings, in the event of an external trade ID with errors, the trade repository object is created with the faulty external trade ID, but has Created with errors status.

End of the note.
Interim Trade ID

Given that an external transaction may not yet have a unique trade ID at the time when the transaction is reported to the trade repository, you can - the trade repository permitting - initially report the transaction using a unique interim trade ID.

The interim trade ID is used to uniquely identify a financial transaction. You can use it in notifications to the trade repository as long as no external trade ID has been officially agreed upon.

If you want this field to be filled, you need to allow use of interim trade IDs for the reporting company codes. You do this in the Customizing activity Define Settings for Trade Repositories in Customizing for Trade Repository Reporting.

The system determines interim trade IDs as follows:

  • If you use the business partner ID type FS0007:

    Characters 7–16 of the LEI (of the company code), the company code, and the transaction number are combined to produce the interim trade ID

  • If you use a different business partner ID type:

    Business partner ID of the company code, the company code, and the transaction number are combined to produce the interim trade ID

Note Note

The business partner ID is read from the business partner master data of the business partner that represents the company code. You can assign business partners to company codes in the business partner data (in the Counterparty role) on the Control Data tab in the Partner Is Company Code area.

End of the note.

When a financial transaction that can be reported using an interim trade ID is created for the first time, the system creates an additional trade repository object with the action type 25 (= External Trade ID) and this additional trade repository object is used to subsequently report the external trade ID.

Until an external trade ID is entered in the transaction, the interim trade ID is used exclusively in the related trade repository objects.

  • If there is no external trade ID for a transaction at the time when it is first reported, initially use the interim trade ID to report the financial transaction to the trade repository. Once the external trade ID is known, store it in the transaction. When an external trade ID is entered for a transaction that has been reported using an interim trade ID, the external trade ID and the interim trade ID are filled automatically in the trade repository object with the action type 25. In trade repository objects that have not previously been reported, the external trade ID is now filled and the interim trade ID is deleted. Send the TARO with action type 25 to the trade repository. After you have used this notification to inform the trade repository of the external trade ID, all subsequent reports then use the external trade ID.

  • If the external trade ID becomes known before the transaction is reported for the first time, the external trade ID is filled in the TAROs, and the interim trade ID is not used. Consequently, the transaction is reported to the trade repository using the external trade ID. The TARO with action type 25 is changed to Obsolete.

Note Note

If in Customizing under Define Legal Basis, you have set a start date for validation for a legal basis, then the external trade ID is validated and the process for the interim trade ID is changed too. If you decided to use an interim trade ID, then one of the processes described above is changed from the validation date in the following way:

  • The Interim Trade ID is now entered in the External Trade ID field.

  • No trade repository object with action type 25 (=External Trade ID) is created.

  • If you receive the correct external trade ID before the first report of the financial transaction to the trade repository, you can enter it and overwrite the internally determined ID.

  • If you receive the correct external trade ID after the first report of the financial transaction to the trade repository, then a trade repository object with action type 40 (=Error) is created automatically, first to deregister the transaction in the trade repository, then to report it with a trade repository object with action type 10 (=New) with the correct external trade ID.

End of the note.