01 Oct 2018

Open Protocol Manual I (2018)

Prior version of OP reporting manual

Note: This is not the latest version of the OP manual or template – we encourage asset managers to use the 2021 updated versions.

Open Protocol consists of the data templates (in Excel and XML) and a manual that contains more detailed definitions and explanations.

The 2018 template consists of 12 sections:

  • Section 1: Fund and Investor Details
  • Section 2 to 7: Asset Class Exposures – Equity, Sovereign and Interest Rates, Credit, Convertible Bonds, Currencies, Real Assets, and Commodities
  • Sections 8 to 10: Risk Measures – VaR, Sensitivity Analysis, and Stress Tests
  • Section 11: Counterparty Risk
  • Section 12: Other

The new 2021 template contains two additional sections

  • Section 13: Digital Asset Exposure
  • Section 14: ESG Module

Levels of Granularity (Grades):

Asset managers can provide exposure information at different levels of granularity depending on their preference and comfort level. For example:

  • Grade 1: Exposure information broken down by pre-defined continents
  • Grade 2: Exposure information by regional developed or advancing economies
  • Grade 3: Exposure information by country

Allocators can allocate exposure information from multiple asset managers at least at Grade 1 level.

It is acknowledged that under certain circumstances managers may not feel comfortable providing all information at Grade 2 or Grade 3 level (for example for illiquid or proprietary positions). Managers can therefore choose to provide different levels of granularity in different sections of the template.

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