Port In/Out
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      3. Port In/Out

      How do I Port IN/Port OUT from KOR CA TR?

      You can work with our Client Success team to either port-in or port-out to/from KOR's CA TR.

       

      In order to port in transactions to KOR TR:

      1. At least five Business Days prior to porting into KOR TR. The time period may be less upon approval of the impacted Trade Repositories. The Client must provide notification in writing to KOR TR of their intention to port in (support@korfinancial.com). Such notification shall include: 

        1. The volume and product scope of the porting;

        2. Planned porting date. Note: KOR TR has the right to request the Client select another date if they need KOR Client support if KOR has already committed support to other activities (e.g., other porting Clients, technical release, systems testing, or holiday schedules).

      2. Execute of the KOR Universal Services Agreement and applicable Addenda. 

      3. Administrative User must set up all User access.

      4. Client must complete testing including the porting in of applicable transactions in a non-production environment.

      5. Client must complete all steps and port out trades from their current TR on the same date trades are ported into KOR TR. Note: A Client may elect to start submitting new transactions to KOR TR prior to porting in all open transactions.

      6. All ported in transactions shall be reported with [Action type] = ‘NEWT’ and [Event type] = ‘PORT’. Note that the transaction is reported using the same UTI and same execution timestamp as reported to the previous TR.

        1. KOR only accept open transactions for porting in by a Client.

        2. All transactions must meet the current KOR TR Technical Standards. 

        3. All transactions shall be reported in their current state.

       

      In order to port out transactions from KOR TR:

      1. At least five Business Days prior to porting out of KOR TR. The time period may be less upon approval of the Trade Repository. The Client must provide notification in writing to KOR TR of their intention to port out (support@korfinancial.com). Such notification shall include: 

        1. The volume and product scope of the porting;

        2. Planned porting date. Note: KOR TR has the right to request the Client select another date if they need KOR Client support if KOR has already committed support to other activities (e.g., other porting Clients, technical release, systems testing, or holiday schedules); and

      1. Prior to the date the Client is porting out data, the Client must test their port out messages in a KOR TR non-production environment. 

      2. For all transactions that are being ported out, the Reporting Counterparty submits a continuation data report that includes the field values: [Action type] = ‘PRTO’, [Event type] = ‘PORT’ and [New TR identifier] = e.g., ‘LEISDR2’. This three-value combination is an indication that this transaction (UTI) will no longer be reported, effectively removing the active transaction from KOR TR.

      3. The Client must verify all open transactions have been ported out and all open errors resolved.