Maturity Date (End Date)

Field 2.14 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No>

Status: Best Practice Finalised, Last Updated: 26/04/2021

Field 2.14 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Date on which the counterparties contractually agree the exchange of cash, securities, or commodities versus collateral for the closing leg (forward leg) of the secured financing transaction. This information shall not be reported for open term repos.

Best Practice:
Where Field 2.21 (Open Term) is populated with "FALSE", the maturity date should be populated with the contractual close or fixed term-date bilaterally agreed between the counterparties for the exchange of cash, securities, or commodities; else leave blank. The maturity date must be greater than or equal to the value in Field 2.13 (Value Date).

ISLA best practice is to only use term date where contractually agreed, this field should not be used for trade management notification purposes, as is often current market practice. If a date alert is needed, then another internal non reporting mechanism needs to be created. (SFTR-34)