Open Term

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Open Term

Field 2.21 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Status: Finalised Last Updated: 04/03/2025

Current Commentary:

Field 2.21 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Indication whether the transaction is open term (i.e. has no fixed maturity date) or fixed term with a contractually agreed maturity date. “TRUE” shall be populated for open term transactions, and “FALSE” for fixed term.

Best Practice:
This field shall contain one of the values: "TRUE" or "FALSE". Populate as "TRUE" where an open trade and "FALSE" for fixed-term trades.

In the event field 2.14 (Maturity Date [End Date]) and or field 2.15 (Termination Date) becomes populated, field 2.21 Open Term should always remain as "TRUE" for Open Term Trades and not be changed / amended to FALSE (this requirement is as of the trade validation rule update of 2022). (SFTR-41)

Field 2.21 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Previous commentary:

Status: Finalised Last Updated: 26/04/2021

Field 2.21 | Matching Date: 2020-04-01 | Tolerance: None | Agent Lender Data Provision: No

Description:
Indication whether the transaction is open term (i.e. has no fixed maturity date) or fixed term with a contractually agreed maturity date. “TRUE” shall be populated for open term transactions, and “FALSE” for fixed term.

Best Practice:
This field shall contain one of the values: "TRUE" or "FALSE". Populate as "TRUE" where an open trade and "FALSE" for fixed-term trades.

Where Field 2.14 (Maturity Date [End Date]) is blank, then this field will always be "TRUE". (SFTR-41)