Open Protocol Manual I (2018)
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.