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

2. Whose close date is greater than current date (NOT = to current date).