ETRM - Termination Date vs. Maturity Date

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• ETRM - Termination Date vs. Maturity Date

ETRM – Termination Date vs. Maturity Date

Status: Finalised Last Updated: 15/02/2024

Question:
ETRM – Termination Date vs. Maturity Date:

1. Termination date is not a reportable value via a MODI (modification) via the trade validation rules, and, as an ETRM cannot be reported on a future date it’s not possible to amend the termination date, i.e. once an ETRM is reported, you can’t move it forward via an ETRM and you can’t amend it via a MODI therefore that date of termination is finalised.

2. It is important to highlight that once a trade has been terminated or matured parties (borrowers) risk being unable to back-report historic lifecycles so should incorporate this in decision making when considering best approach moving forward.

3. Table 2 within the level III guidelines show it is possible to do a MODI post an ETRM action type, however, it depends on what field you are modifying and as mentioned the ETRM – Termination field cannot be modified.

Best Practice:

(SFTR-834)