Missing Public Message Report Query
For the Missing Public Message Report KOR identifies transaction messages where KOR have both a valid Public and valid Transaction message for the unique combination of [UTI] or [USI] + [action type] + [event type] + [event timestamp], where
- the field [Exempt Public Related Message] is populated with a value other than "Is Publicly Reportable"; AND
- KOR does not have a corresponding Public message for the "UTI/USI + a unique action type and event type"
What do I report for the field [Exempt Public Related Message]?
[Exempt Public Related Message] is required on all Transaction messages.
If you submit the value "Is Publicly Reportable" a corresponding public message should be reported.
If you have identified that a message is not applicable for public dissemination, please select and submit the applicable value. and NOT "Is Publicly Reportable".
This field is driven by the definition of 43.2(a) “Publicly reportable swap transaction”
which means:
- Unless otherwise provided in this part -
- Any executed swap that is an arm's-length transaction between two parties that results in a corresponding change in the market risk position between the two parties; or
- Any termination, assignment, novation, exchange, transfer, amendment, conveyance, or extinguishing of rights or obligations of a swap that changes the pricing of the swap.
- Examples of executed swaps that do not fall within the definition of publicly reportable swap may include:
- Internal swaps between one-hundred percent owned subsidiaries of the same parent entity;
- Portfolio compression exercises; and
- Swaps entered into by a derivatives clearing organization as part of managing the default of a clearing member.
- These examples represent swaps that are not at arm's length and thus are not publicly reportable swap transactions, notwithstanding that they do result in a corresponding change in the market risk position between two parties.