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legislation · published 3 Apr 2017 [Answer Published]","attribution":{"prepared_by":"ESMA","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2017-04-03","question_submitted_on":"2017-04-03","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1690, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1690, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1690","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/mifir/level-3/q-and-a/esma/esma-qa-1690-business-case-inflation-indexed-bond.md","body_sha256":"aea953af622128bc19230707e6e74b5c1e1846aea5935e1ac01307052db45563"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1690 — Q&A — Business Case: Inflation Indexed bond [Answer Published]\"\nshortTitle: \"ESMA Q&A 1690 — Q&A — Business Case: Inflation Indexed bond [Answer Published]\"\nanswer_id: ESMA_QA_1690\ntopic: \"ESMA70-1861941480-56 Questions and Answers on MiFIR reporting\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"MiFIR\"\nmifir_level3: true\nmica_level2: false\nlegal_basis: \"MiFIR\"\ndate: 3 April 2017\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1690\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 3 April 2017\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1690\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n prepared_by: \"ESMA\"\n published_by: \"ESMA\"\n published_in: \"ESMA Q&A tool\"\n evidence:\n prepared_by: \"ESMA Answer\"\n locator: \"ESMA Q&A entry ESMA_QA_1690: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n published_on: \"2017-04-03\"\n question_submitted_on: \"2017-04-03\"\n locators:\n published_on: \"ESMA Q&A Excel export ESMA_QA_1690, column 'Esma responses', date line\"\n question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1690, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 3 Apr 2017 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 3 April 2017 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1690)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1690 — Q&A — Business Case: Inflation Indexed bond \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1690 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 3 April 2017; question submitted 3 April 2017 |\n| **Legal basis** | MiFIR |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Business Case: Inflation Indexed bond**\n\n### Question\n\nHow should transactions on “inflation indexed bonds” be reported under RTS 22?\n\n***\n\n### Answer\n\n\\[ESMA 70-1861941480-56 MiFIR data reporting Q&A, Q&A 10.1\\]\n\nExample of transaction report on “inflation indexed bonds”:\n\nAn investment firm acquires a DBRI 0.1% 04/15/2026 (ISIN Code DE0001030567) by trading over the counter at 110.00%. The nominal value of the transaction is 1000000 EUR.\n\nThe net amount for this transaction is 1111274.01 EUR.\n\nConsidering that for the purpose of this example:\n\nThe static characteristics (as defined upon the issue of the financial instrument) are:\n\nMaturity Date: April 15th 2026\n\nCoupon frequency: Annual\n\nDay Count Convention: ACT/ACT\n\nDay to Settle Convention: 2 business days after the trade date\n\nThe variables (dynamic characteristics depending on the market conditions) are:\n\nTrade Date: July 25th 2016\n\nSettlement Date: July 27th 2016 (as per the Day to Settle Convention)\n\nLast Coupon Date: April 15th 2016\n\nNext Coupon Date: April 15th 2017\n\nAccrued number of days: 103 (i.e., the number of days between the Last Coupon Date and the Settlement Date)\n\nPeriod basis: 365 (i.e., the total number of days between the Last Coupon Date and the Next Coupon Date)\n\nQuantity: 1000000 (i.e., the nominal or monetary value of the transaction)\n\nClean price: 110.00\n\nIndex ratio: 1.009990\n\nAccrued interest: 0.02821918 (i.e., Nominal Coupon / Annual Coupon Frequency x Accrued Number of Days / Period basis = 0.1/1 x 103/365 )\n\nThe net amount will be calculated as follows (pursuant to the formula provided in field 35 of RTS 22):\n\nNet amount\\[1\\] = \\[(Clean price x Nominal value) + (Accrued coupons x Nominal value)\\] x Index ratio i.e. \\[((110/100 x 1000000 EUR) + (0.02821918/100 x 1000000 EUR))\\] x 1.009990 =1111274.01 EUR.\n\nN\n\nField name\n\nValues\n\nXML representation\n\n30\n\nQuantity\n\n‘1000000’\n\n\\\n\n\\\n\n...\n\n\\\n\n...\n\n\\\n\n\\1000000\\\n\n\\\n\n\\\n\n\\110.00\\\n\n\\\n\n\\1111274.01\\\n\n\\XOFF\\\n\n...\n\n\\\n\n\\\n\n\\DE0001030567\\\n\n\\\n\n...\n\n\\\n\n\\\n\n\\[1\\] Please note that this example differs from example 92 within the Guidelines by the index ratio that needs to be taken into account in the calculation of the Net Amount.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1690)\n"}