How do KOR calculate the close date?

KOR calculates a close date on all messages to determine if the trade should be present in any "open" swaps reports. 

Close Date Calculation Logic:

When a Transaction message is submitted, KOR populates the “closeDate” with the same value in the “Expiration date” field value in the format YYYY-MM-DD.

The exception is if:

1. [Action type] = "PRTO", then close date = date portion of [Event timestamp]
2. [Action type] = "EROR", then close date = null (meaning it was never open)
3. [Action type] = "TERM", then close date = [Early termination date]
   1. AND subsequent messages do NOT update the [Close Date] unless
      [Action type] = "REVI", then close date = [Expiration date]
      1. This is why the [Early termination date] is required on any actions after a TERM that is not a REVI.

What is an Open Swap?

“Open” swaps are defined by any and all unique trades by UTIs (or USIs)

1. That have been submitted and passed all validation requirements, and

   Where expiration date >= report date

   Action	Date = Event Date	Included in Open Trades Report today?	Included in Open Trades Report tomorrow?	Today Status	Tomorrow Status
   ANY	Expiration Date = Today	Yes	No	Open	Expired
   PRTO (transfer out)	Event Timestamp = Today	No	No	transferred out	transferred out
   EROR	n/a	No	No	errored	errored
   TERM	early termination date/event timestamp = today	No (TBC)	No	Terminated	Terminated
   POSC	n/a	No	No	Terminated	Terminated

Valuation/Collateral Reporting on Open Trades: