Our UI features icons that display whether a record was submitted on time
What do the timeliness indicators mean?
- an accepted message that was reported on time
- any message where there is more than 1 hour left to report
- any message with less than 1 hour left to report
means the submission is late.png?width=128&height=24&name=localhost_4400_iframe.html_args=%26id=timelinesscomponent--not-applicable%26viewMode=story%20(1).png)
means calculating timeliness does not apply for the message
means missing and/or invalid values were submitted for the fields needed to calculate timeliness
How is timeliness calculated?
When a message is submitted to the repository, KOR calculates the time it was required to be submitted based on information provided on the message and the applicable regulations.
A message be accepted AND validated to be on time. Submitting a message with rejections before the required submission timestamp does not count - the clean resubmission of that message will be considered on time only if it passes all validations before the required submission timestamp.
On Rejected messages, time Timeliness values are not present only if the required information was missing or invalid to calculate.
Business days
Timelines
| Action Type | Event Type | Timestamp | Business Day | Deadline |
| NEWT | All except PTNG |
Execution Timestamp | timezone and holiday calendar defined at the Reporting entity level | IF package identifier is null OR asset class = FX THEN by end of 2nd business day ELSE by end of 4th business day |
| MODI | All | Event Timestamp | timezone and holiday calendar defined at the Reporting entity level | IF package identifier is null OR asset class = FX THEN by end of 2nd business day ELSE by end of 4th business day |
| TERM | All | Event Timestamp | timezone and holiday calendar defined at the Reporting entity level | IF package identifier is null OR asset class = FX THEN by end of 2nd business day ELSE by end of 4th business day |
| EROR | N/A | Event Timestamp | timezone and holiday calendar defined at the Reporting entity level | IF package identifier is null OR asset class = FX THEN by end of 2nd business day ELSE by end of 4th business day |
| VALU | N/A | Valuation Timestamp | timezone and holiday calendar defined at the Reporting entity level | By end of 2nd business day |
| MARU | N/A | Collateral Timestamp | timezone and holiday calendar defined at the Reporting entity level | By end of 2nd business day |
| REVI | N/A | Event Timestamp | timezone and holiday calendar defined at the Reporting entity level | IF package identifier is null OR asset class = FX THEN by end of 2nd business day ELSE by end of 4th business day |
| NEWT | PTNG | Not Applicable | ||
| PRTO | N/A | Not Applicable | ||
| CORR | N/A | Not Applicable |
How do I know if my message was late?
KOR populates the following fields which are used/produced for timeliness:
- Message submitted timestamp Date and time of the submission of the report to the trade repository.
- Message processed timestamp Date and time KOR TR completed processing of the submission.
- Message Required Submission Timestamp KOR TRs calculation of when the message is required to be reported.
- Message Submission Late Indicator Based on KOR's value in the field: Message Required Submission Timestamp, once the submission passes all validations, then KOR shall evaluate if the message was submitted late or not.
- Message Submission Late Length When KOR's value in the field: Message Submission Late, is "True" then KOR TR shall calculate the length of time the message is late by.
Rule Reference
ASIC Derivative Transaction Rules (Reporting) 2024 2.2.3 Reporting Requirement—Timing (generally, T+2)