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CORR Rules post ETRM - Termination Date:

CORR Rules post ETRM - Termination Date:


Status: Best Practice Finalised, Last Updated: 15/02/2024

CORR Rules post ETRM - Termination Date:

1. DTCC has implemented an additional stateful validation rule that requires CORR messages to provide a Termination date when an ETRM has previously been submitted.
2. The Usage Guidelines published in January indicates that once a trade has been early terminated, it cannot be reinstated, therefore any CORR messages following an ETRM for the same trade will require the Termination date field to be populated.
3. DTCC will be rejecting a CORR message where Termination date is populated when an ETRM has not previously been submitted.
4. In other words, you cannot modify a termination date once an ETRM has been successfully submitted i.e. you cannot reinstate a terminated trade.
5. So a post-ETRM CORR action type can only correct fields (see trade validation rules) other than Termination Date. And ETRM is final.

Best Practice:


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