What are the allowed action type sequences?

Reporting of lifecycle event is facilitated by reporting of Action type [#26] and Event type [#27] combinations. The allowable action type sequence is established to avoid illogical submissions by the reporting counterparties. SDR validation rules should perform checks to ensure SDR permits certain action types after the last action type has been reported. If a submission is reported with an action type that is not possible based on the last action type submission, the validation rule must reject that submission. What action types are allowed is depicted in 2 separate flow diagrams for part 45 reporting (Figure 1) and part 43 reporting (Figure 2).

PART 45 REPORTING: PERMITTED ACTION TYPE SEQUENCES FOR LIFECYCLE REPORTING 

If a swap is in an open state, certain action types are permitted as depicted in the diagram: MODI, CORR, VALU, MARU, PRTO, EROR, and TERM. • If a swap is in a terminated state, certain action types are permitted as depicted in the diagram: MODI, CORR, VALU, MARU, EROR, and REVI. • If a swap is in an errored state, only REVI action type is permitted, • If a swap is in an expired or matured state, certain action types are permitted as depicted in the diagram: MODI, CORR, EROR,VALU, MARU.

PART 43 REPORTING: PERMITTED ACTION TYPE SEQUENCES FOR LIFECYCLE REPORTING

Similar to reporting for Part 45, lifecycle event is supported by Action type [#26] and Event type [#27] combinations for Part 43 reporting. The allowable action types are depicted in Figure 2.